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Today was another great day of trading for all of us at the School of Trade! All of the trades we took today were after the major U.S news events, and we made sure that the U.S Unemployment Claims were released before looking to take any trades. The reason we did this was because, many of the larger institutional traders will wait to play the news events, which is very dangerous to day traders such as ourselves (Identify Market Sentiment For Day Trading Futures). We were able to take three trades this morning, and went 3 for 3 for a total profit of +$260!

Our first trade of the morning came prior to the U.S Equities opening at 9:30am EST. Of course we also had to wait for the U.S Unemployment Claims number to be released at 8:30am EST, which gave us roughly an hour to trade before the U.S open (3 Key Components To A Day Trading System Video). After the news, we began scanning all markets for possible trade set-ups, and it wasn’t long before we found one on the British Pound futures (Symbol 6B). The pound had been retracing off the lows of the day, and once volume stepped into the market after the news, it began selling off once again; we decided to take advantage of the short term trend by entering the market short with our Breaker pattern. At 9:02am EST our order was executed with a basis of 1.6532, and we were swiftly able to lock in profits at our first profit target of +4 ticks (4 contracts) for a total of +16 ticks on our first trade of the morning ($100).

The second trade of the morning came shortly after our first, when we were able to scalp some ticks off of the Crude Oil market (Symbol CL) (Scalping Futures Day Trading Video). The Crude Oil market had been consolidating inside the $80 price range ever since the beginning of electronic trading, but once the open outcry pits opened up at 9:00am EST, the market began a strong sell off into the $80.00 price level. Taking advantage of this short term trend change, we entered the market at 9:04am EST with a Breaker pattern. Our order was executed at 80.34; where our stop limit was placed, and as more sellers joined the market, price action was able to lock in +4 ticks (2 contracts) for a total profit of +8 ticks ($80).

Our third and final trade of the morning also came on the Crude Oil market (Symbol CL). Ever since the open of the U.S Equities market, price hadn’t really broken out of its range near $81/barrel, so we continued to be patient and wait for our set-ups to come to us, we were not about to force any trades and risk losing all of our profits for the day. Our patience finally paid off at 10:22am EST when we noticed that the Crude Oil market was beginning to rally into the $81/barrel price level ( Crude Oil Futures Day Trading Video). Seeing the short term trend to the upside, we quickly entered the market with a Breaker long at a basis of 81.09. Once our order was executed price action began to speed up and momentum once again curled in our favor; with an increase in the speed of the tape to the long side, we were able to guarantee +4 ticks (2 contracts) on our final trade of the morning with our ATM strategy, for a total profit of +8 ticks ($80).

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