Dr. Sheldon Cooper - Day Trader!!

Thursday: April 2nd, 2015 Crude Oil Trading

Hello Traders and Friends,

Thursday: April 2nd, 2015

I was able to get short on two in the afternoon trading here on Thursday. First entry exit was at the Pivot Point exit on one short 4904. The second contract is a runner looking for 4843 currently.

My entry point on two contracts was at 4934. My first profit target was a few ticks above the pivot point at 4902 today. I was out with 1 contract at 4904. The second contract will follow the trailing stop on the 200 bar exit or 3P whichever is hit first.

Obviously, the goal is to make as much as possible … but you also have to take what the market will give you along with KNOWING where the key points of support and resistance will be located. The market has been fighting all day at the pivot point on the trading day.

The market finally broke down below the Pivot Point and I was able to move my profit stop a little above the pivot point still hunting for 3P on the trade that is located at 4873 on today’s trading day.

Here is where I moved the remaining short entry to 4911 to protect profits on the trading day. The market seems to be just as likely to move up and through my profit stop as go to the 3P target on the trading day.

Here the market is trying to decide what it wants to do … but it makes no difference to us … we are in the control and pilot seat allowing the market to decide our exit point either one will be for a profit.

Market bracketed on the remaining contract … market went down to 4846 before turning back up … very close to profit target. Profit stop moved to 4863 … this was hit on the way back up and out.

This trade on two contracts netted 102 ticks with is equal to $1,020.00 dollars. This is not a bad day for the day before Good Friday … no trading until Tuesday, April 7th, 2015. Time for some R&R and the Easter break in trading.

 

Kind Regards and Good Trading,

TradeCraze

About The Author

David M. Knight

I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.