January 18, 2012
- in Uncategorized by schooloftrade
We executed this day trading strategy flawlessly for easy profits
We began the day trading strategy in our live trade room with some concerns over volume due
to the fact that crude oil futures were sharing volume from the 02-12 contract
rolling forward to the 03-12 contract, and our normal inventories news on
Wednesdays had been delayed until tomorrow.
We knew that traders would likely use this as a reason to sit on the
sidelines…boy…we were wrong.
to the fact that crude oil futures were sharing volume from the 02-12 contract
rolling forward to the 03-12 contract, and our normal inventories news on
Wednesdays had been delayed until tomorrow.
We knew that traders would likely use this as a reason to sit on the
sidelines…boy…we were wrong.
The day began with crude oil trading above the previous high
of day, which means we were looking for buying opportunities, and just like
yesterday, looking for a potential failing pattern so we could sell the new
highs bringing price back down to the range below us. Our day
trading strategy uses a price wedge as the most important clue and we saw
that a mile away.
of day, which means we were looking for buying opportunities, and just like
yesterday, looking for a potential failing pattern so we could sell the new
highs bringing price back down to the range below us. Our day
trading strategy uses a price wedge as the most important clue and we saw
that a mile away.
At 830am EST this morning we got our first chance to sell
the highs, and our trading strategy using multiple timeframes to look for
potential opportunities, starting with the fastest 8-range chart. We sold short using the 8-range, followed by
the 13-range, and then finally the 21 and 34 range patterns triggered. By 930am EST we had earned over 100 ticks of
profit, over $1000usd in the first hour and half of the day. We
execute the day trading strategy flawlessly, another example of a simple
trading strategy that worked to perfection.
