TST 30K Combine

TST Trading Day 7 Back to the Drawing Board

TST Trading Day 7

During the day trading session in the crude oil futures market, I had 12 trades for a net of 51 ticks on the trading day.

My best trade of the day came on two separate occasions. I was able to catch a breakout at 4323, and then I was able to re-enter the trade based on a Gann 4th Time Thru entry at 4353.

I was up 70 ticks max today before giving away 19 ticks looking for a fibonnaci retracement trade back to around 4386 or 4370 area.

This short trade didn’t work out as the crude oil futures market went and made another high point before selling off back to the pivot point without me. I had already attempted the short and I was unwilling to give in more of my trading gains away on the day.

Futures Crude Oil Day Trading YouTube Summary Video:
Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

TST Trading Day 7

Today was a good trading day. I was seeing the crude oil market clearly after my initial trading that was for a loss. I found myself in the hole around 19 ticks today before being able to trade my way out of a jam.

What I could have done better was not keep trying to attempt the short entry at the beginning of the trading session. But, it sure looked like it wanted to go down a bit today. This was when the market just opened on the open outcry.

The crude oil futures market looked like a sell early, even though, the red volume bars were telling me it looked more like a buy. Crude oil finally was able to breakout above the 200 Bar SMA and I was able to trade 2 contracts at that point in time.

I took the first one off to get back to a little above breakeven, and the second placed me in the driver’s seat with a gain of net 70 ticks.

To close out my trading session, I attempted to trade out of the breakout at what was then the extreme high of the trading day. I tried a long and a short, both did not work out so I stood aside with my 51 ticks net gain on the trading day.

This places me above the 1K mark in trading gains and I need a little under 50 ticks now to pass this combine with 3 trading days left. Tomorrow I will trade my CLPIT Strategy on the Crude Oil Inventory Trade and hope for the best.

 

Good Trading,

David M. Knight
TradeCraze

P.S. How do you manage your trade management?

 

 

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.