Took Som Big Trades In The Live Trade Room

Market Content October 2, 2009Today all of our trades came off the Crude Oil market, ( Crude Oil Futures Day Trading Video )(Symbol CL), which after showing some great volume, allowed us to end our week with some great profits. We were able to take 4 trades today, and went 4 for 4, with a total profit of +$560.00 while trading with 4 Contracts.

The crude oil market didn’t show any real volume until the unemployment numbers were released for the U.S at 8:30am EST, which after being released; the crude oil began to short into the $69 price level as unemployment increased to 9.8%, from 9.7% previously (Identify Market Sentiment For Day Trading Futures). Our first trade of the morning came once the unemployment figures were released as well as the start of the open outcry pit trading at 9:00am EST. With the added volume in the market from the open outcry pits trading, the market began to hit a bottom near the 68.50 price level, which is when we began to look to enter the market long. We entered the market long at 9:13am EST with a Breaker pattern, our basis was at 68.65 and once our order had been executed, we watched as the market rallied even higher, giving us the opportunity to take profits at +4 ticks (2 contracts) and +8 ticks for a total of +16 ticks on the trade ($160).

Our second trade of the morning, once again on the Crude Oil, (Symbol CL) came about an hour after our first trade, because we wanted to see how the market reacted with the opening of the U.S equities. At 10:00am EST the market began to retrace off the rally it had made during the previous hour, and we looked to capitalize on this trend change to the short side (3 Key Components To A Day Trading System Video). At 10:19am EST we entered the crude oil market short at 69.57 because of a breaker pattern. The price action had to break a dynamic level of support and once that occurred, we executed the trade. With sellers joining the price action, we were able to scalp +4 ticks (2 contracts) from the market, for a total of +8 ticks ($80).

The third trade of the morning came shortly after our second, because we noticed, with increased speed of the tape, that price direction was about to make a change to the long side. At 10:22am EST we decided to join the buyers and entered long with a 2-step with a basis of 69.73. Once our trade had been executed, we kept a keen eye on the pace of the tape indicator as well as our stochastics, to make sure that we would be able to maximize our profits. Our NinjaTrader ATM (Automatic Trade Management) strategies quickly took over the trade for us and took profit at +4 ticks (2 contracts) and +8 ticks for a total of +16 ticks on the trade ($160) (Futures Day Trading Account Management Video)

Our fourth and final trade of the morning came towards the end of the morning session, as lunch was soon setting into the market; we were able to take a few more ticks from the crude oil market. Crude oil had been trending higher into the 10:0am EST hour and seemed to finally reach its peak around the $70 price level, at which time we looked to enter the market short, as our pace of the tape indicator began to show us the more sellers were entering the market. At 10:54am EST we entered the market short with a breaker pattern and got our order filled at 69.38 (Scalping Futures Day Trading Video). With the market trending further downwards, we were able to close our trade with some great profits of +4 ticks (2 contracts) and +8 ticks for a total of +16 ticks on our final trade of the day ($160).