Because Hobbes says so ...

TST Funded Trader Day 3

Monday: October 5th, 2015

TST Funded Trader: Crude Oil Market Trading.

CLPORT Method: Trade #1 Short at 4659 at 8:20AM CST. I originally had a 2/3R stop on this trade, and damn if it didn’t just go and seek that out and come off of it. Trade Exit was 4672 at 8:37AM CST.

Next Crude Oil Trading Chart: Hit 2/3R Stop Loss 4672 at 8:37AM CST.

Next Crude Oil Trading Chart: When you can take 1R stop loss and it is above the HIGH of the DAY … it seems to make sense to make the 1R Stop Loss the Initial Stop Loss. By using today’s data, this would have meant an original stop loss of 4678 instead of 4672.

This was the numerical difference in 2/3R to 1R, which was today 13 ticks vs 19 ticks.

Next Crude Oil Trading Chart: Here is the 1R Stop Loss Being shown along with the Crude Oil Market reaching down to 1P Profit Target on Failure of not making a new high … a new pattern of Lower Highs starts to emerge on the tick chart.

Next Crude Oil Trading Chart: The Crude Oil Market reaches down to 2P at 4615 at 9:01AM CST.

Next Crude Oil Trading Chart: Lower High Pattern Hold?

Now, we are trading above R1, but below the High of the Day and trying to decide fate now … which way will it break?

Right now, I am sitting with a small trading loss of 12 ticks on 3 trades … waiting to see which way the market will go.

Trade #2 was a short at 4658 and was taken out at 4657 on the retracement at 9:27AM CST.

Trade #3 was a short at 4653 and is still active at present time of 9:44AM CST. This trade is also at breakeven now.

This trade was driven out at 4652 after a move once again below R1 … there was no solid followthru on the short side (down) to bring home a winning trade for me today.

Trade #4: HVS Skyscraper BBV 3022 VOLUME at 10:28AM CST.

Trade Entry was Short at 4683. The market has moved up totally from the Open of the Crude Oil Market 6P overall and a little short of the R2 number. I have not had a LONG signal all morning session.

All of my trading opportunities have me looking at the short side of the market for a selloff of the Crude Oil Market today.

Crude Oil Market Trading Chart: CL reaches to 1P and stops going down here …

Crude Oil Market Trading Chart: Market was not moving down I placed a time stop on my trading and decided to take what the market was offering at this time and go GREEn on the trading day.

It was a tough trading day for me overall as I was under most of the trading morning … so I took the small gain and decided to move on to the next trading day.

That’s All Folks!!


Good Trading and God Bless,

David M. Knight

P.S. TST Funded Trader Summary Report:



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.