Had A Great Week Trading Futures In The Live Trade Room.

Our first trade of the morning came on the Crude Oil market, which since the beginning of electronic trading, had stayed in the $71/barrel price range. This range didn’t last for long though, as the open outcry pits began to trade at 9:00am EST, volume entered the market, and pushed prices higher into the $72/barrel price level as the U.S equities market opened. When we saw this occur, we began to look to enter the market, because we noticed, via our P.O.T indicator, that the buying pressure was beginning to slow down. We began to qualify either a Breaker pattern to the short side, or a short term trend reversal in the 2-step to the long side ( Crude Oil Futures Day Trading Video). After seeing price action stall around the 71.50 price level, we looked for a trend reversing trade to the long side, with a 2-step pattern. At 9:37am EST we entered the market long, with a basis at 71.58; we were able to scalp out a few ticks, and ended closing the trade with +3 ticks (2 contracts) for a total of +6 ticks ($60).

On our second trade of the morning, we quickly realized, from our previous trade on the Crude Oil, that the rally into the $72/barrel was not over, and decided to execute yet another trade on the Crude Oil futures (Symbol CL). We looked to enter in the direction of the short term trend, which at the time was to the long side. At 9:42am EST we entered the market based off a Breaker long pattern at 71.69; and were quickly able to take some great profits of +4 ticks (2 contracts), +8 ticks and +4 ticks, for a total of +20 ticks on the trade ($200) (Scalping Futures Day Trading Video).

The third trade of the morning again came on the crude oil market (Symbol CL). After our second trade, the crude oil futures had begun to retrace off its highs of $72.25, and we actually had to wait for a pullback in price in order to get our perfect trade set-up. That perfect trade set-up actually ended up being a Breaker pattern to the long side, yet again. We were able to enter the market at 10:00am EST at 71.92; where buying pressure in the market took over the price action and we were able to take a few ticks from the market before our ATM strategies (Futures Day Trading Account Management Video) closed our trade out for a profit of +3 ticks (2 contracts) for a total of +6 ticks ($60).