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Market Content September 30, 2009

Today was another great day of trading for the School of Trade and its members! Volume was relatively high today, but it did not really enter the market until the opening of the U.S equities market as well as the release of the Crude Oil Inventories (IDENTIFY MARKET SENTIMENT FOR DAY TRADING FUTURES). Once the market started giving us quality set-ups, we were able to scalp some real profits from it, going 4 for 4 today, with a total profit of+$300.00 trading with 4 contracts. Let’s review those 4 great trades……

The first trade of the morning came on the Mini-Russell (Symbol TF), which channeled most of the early morning through electronic trading, but once a strong level of volume entered the market with the open of the U.S equities, the Mini-Russell began to take off to the downside and continued this trend into the 10:00am EST hour. Noticing that the selling pressure was beginning to slowdown, based on our pace of the tape indicator (P.O.T) we looked for a trend reversal trade with our classic 2-Step pattern. At 9:53am EST we entered the market long with a 2-step at 599.20. The stochastics quickly curled in our favor, and with larger buying coming across the ticker tape, we were able to close our trade with a profit of +3 ticks (2 contracts) totaling +6 ticks ($60). Learn more about trading the E-Mini’s at the following link: E-MINI FUTURES DAY TRADING VIDEO



Our second trade of the morning came after the Crude Oil inventories at 10:30am EST. We waited for the number to pass before taking any trades because history has told us this is a very volatile new event to trade around, and thus we take extra caution when trading the Crude Oil ( CRUDE OIL FUTURES DAY TRADING VIDEO). Once the inventories figure was released, the Crude Oil (Symbol CL) market took off to the long side, providing us with a strong rally to trade off of. At 10:45am EST we entered the market long with a breaker pattern, our basis being 67.22, we watched tentatively to see how the market reacted, with momentum in our favor, and strong buying pressure coming across the ticker tape, we were able to close our trade with a profit of +4 ticks (2 contract) for a total profit of +8 ticks ($80).



The third trade of the morning came shortly after our second one, and once again on the Crude Oil (Symbol CL). After the inventories number was released, the uptrend continued into the lunch hours, and we were able to capitalize on it. At 11:00am EST we noticed that once again a breaker to the long side was setting up (PRICE PATTERNS TECHNICAL ANALYSIS FUTURES VIDEO). We entered the market with a basis of 67.66, and were quickly able to scalp + 4 ticks (2 contracts) from the market, for a total profit of +8 ticks ($80).


Our fourth and final trade of the day was also taken off the Crude Oil (Symbol CL) and was taken almost instantly after we closed out third trade (SCALPING FUTURES DAY TRADING VIDEO). The Crude Oil market was still trending to the long side, and buyers were continuing to push price into the $68/barrel price level. At 11:02am EST, with large buyers and the trend on our side, we once again entered the Crude Oil long with a breaker pattern. With a basis of 67.87, we saw that the buyers had not left the market yet, and with momentum pushing price even higher, we were able to close our trade out with a profit of +4 ticks (2 contracts) for a total profit of +8 ticks ($80).

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Market Content September 29, 2009

Another day of profits at the School of Trade! We saw some great volume in the markets, and even with lack of new events, had some great volatility as well. We were able to take 5 trades today and went 4 for 5 with a total profit of +$305.00 on 4 Contracts. Let’s review those great trades!

The past few days the Gold futures (Symbol GC) has kept below the $1,000/ounce level with strong selling pressure. Today was no different, electronic trading had brought price down even further to the mid 980’s, but after the opening of the gold pits at 8:20am EST, price began to rally back, trending back into the 990’s with significant buying pressure. By the time the US equities market opened at 9:30am EST, we began to look to enter the market with a trend continuation trade to take Gold to the long side. At 9:35am EST we entered the market long with a breaker long at a basis of 994.0. After seeing price pullback to our trigger ling and breaking dynamic levels of resistance, we entered the trade, and quickly were able to lock in profits of +4 ticks (2 contracts) before closing our trade for a profit of +8 ticks ($10/tick) ($80). Learn more on how to scalp the Gold futures market here: GOLD FUTURES DAY TRADING VIDEO

Our second trade of the day came on the Crude Oil (Symbol CL) and today it continued its submersion below the $70/barrel level. Beginning with electronic trading, price was brought down over a dollar from the close of yesterday, to $65/barrel, but once the commencement of the open outcry pits occurred at 9:00am EST, buyers began to join the market once again, pushing prices higher. After the volatility of the U.S open had subsided, we looked to take a trend reversing trade on the Crude Oil ( CRUDE OIL FUTURES DAY TRADING VIDEO), and at 9:37am EST we entered the market short 66.70 with a 2-step. Momentum began to curl over and sellers quickly began to jump on the trade, which we were able to close out for profits of +4 ticks (2 contract) and +8 ticks, for a total of +16 ticks ($10/tick) ($160).

The third trade of the morning came on the Euro futures (Symbol 6E), as price trended down since the beginning of electronic trading, and continued when currency trading opened at 8:20am EST, we continued to look for a possible entry. After the opening of the U.S equities, and with increased volume in the market, we thought a change in trend was about to occur, and looked for a long trade in the new breaker set-up. At 10:10am EST we entered the Euro futures (EURO CURRENCY FUTURES DAY TRADING VIDEO) long with a basis of 4553.0. Price action began to slow down, and we saw that momentum was beginning to curl away from us, without hesitation we took an early exit on this trade, and were glad we did, taking a small loss of -6 ticks (-$75).

After our first trade on the Crude oil (Symbol CL), price action retraced back down to the 65.80’s before buying pressure took it over again, rallying strong into the lunch hours, to 67/barrel. During the rally we waited patiently for a perfect trade set-up and finally got one at 10:40am EST. We entered the Crude Oil market long with a 2-step at 67.18, and were able to lock in profits using our ATM (automatic trade management) strategies via NinjaTrader for + 3 ticks (2 contracts) for a total of +6 ticks ($10/tick) ($60) (FUTURES DAY TRADING ACCOUNT MANAGEMENT VIDEO).

Our final trade on the Crude Oil (Symbol CL) came shortly after our second trade, where we noticed that the sellers had taken control once again. The sellers were pushing the price lower into the $66 price level and after breaking some dynamic support levels we looked to enter the market short. The stochastics quickly began to curl to the short side, and with the Pace of the Tape indicator giving us the green light to take the trade (PRICE PATTERNS TECHNICAL ANALYSIS FUTURES VIDEO), we entered short with a breaker set-up at 11:38 with a basis of 66.41. Larger sellers quickly came across the ticker tape, and we were able to take profits quickly at +4 ticks (2 contracts) for a total of +8 ticks ($80).

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Market Content September 28, 2009

Today we saw some sluggish volume in the market, but were still able to scalp 1 trade off the crude oil market (Symbol CL) (SCALPING FUTURES DAY TRADING VIDEO ). The crude oil market today stayed in a tight dollar range of $64.40 - $65.40 for the first few hours of electric trading, but once trading commenced at the open outcry pits at 9:00am EST volume as well as buyers began to enter the market, pushing prices higher into the lunch hours. With the significant rally in price, we looked to capitalize on this trend by taking a breaker long, or a 2-step short on the Crude Oil, and ended up taking a trend reversal short, for +$80.00 on 4 contracts. To learn more about trading Crude Oil futures, watch this free CRUDE OIL FUTURES DAY TRADING VIDEO



Our first and only trade of the day came after the open of the pits as well as the U.S equities markets at 9:20am EST. We noticed the trend was long throughout most of the morning, and looked to capitalize on the volume increase going into the lunch hours. At 11:30am EST we noticed the trend was consolidating around the $67.00 price level, and began to identify a possible trend reversal trade with the 2-step short. This is exactly what we did, after price gave us a swing low below our automatic line levels indicator, we took the Crude Oil short with a basis of 67.20 at 11:30am EST (SWING-HIGH SWING-LOW TECHNICAL ANALYSIS DAY TRADING FUTURES VIDEO).

After executing the trade, we noticed the stochastics had curled in our favor, and watched the ticker tape to see if we would get some sellers following through on our trade. With our automatic trade management via NinjaTrader already in place, we were able to lock in profits at +4 ticks (2 contracts) before closing out our trade, with a profit of +8 ticks ($10/tick) ($80).

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Day Trading Futures With The Schooloftrade

Market Content September 23, 2009

After yesterday’s rally in the crude oil to $72/barrel, it seems that the sellers re-took control of price today as price has dropped once again to the $68/barrel level. Until the start of the open outcry pits at 9:00am EST, price had really consolidated at the $71-$72 level, but once the opening of the pit, the sellers, with obvious volume, began to take control. The selling pressure was increased as well by the Crude Oil Inventories, which were released today at 10:30am EST and were much more plentiful than expected; causing the price to sell even further into the $68 price level. We were able to take one trade on the crude oil (symbol CL), opting to wait till after the inventories number was release, we were able to scalp 19 ticks, for a total of +$190.00 on 4 Contracts. Let’s review that trade….





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Our only trade of the day came on the Crude Oil, (Symbol CL) after the Crude Oil Inventories were released at 10:30am EST. Once the inventories number was released, and there seemed to be an excess of supply in the crude oil market, price began to sell off strongly. Once this push to the short side had begun to retrace slightly, we began to look for a quality set-up to take. The short term trend prior to our trade had been up, retracing off its lows, we began to see the rally weaken, and anticipated that price was going to continue its daily trend to the down side. At 10:56am EST we looked to take the crude oil market short, with a 2-Step; we ended up getting filled with an entry price of 69.24. Once we had entered the trade, the stochastics were already beginning to curl to the short side and we knew price action would soon follow, which it certainly did as more sellers began to enter the market. We were able to take profit quickly, gaining +4 ticks (2 contract), +8 ticks (1 contract) and our final contract we let run for an additional +3 ticks, giving us a total of +19 ticks on the trade ($10/tick) (+$190.00).

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Day Trading Futures For Beginners, Market Commentary

Market Content September 22, 2009

In today’s current market conditions, it says a lot of the School of Trade’s consistent trading results, and today was no different, yet another profitable trading session. Today we were able to scalp out three trades on the Crude Oil, going 2 for 3 with a total profit of +$290.00 while trading with 4 Contracts. After seeing the Crude Oil’s price collapsing about $3/barrel yesterday, the crude market slowly took back most of yesterday’s decline with today’s strong rally with a slow but steady uptrend since the beginning of electronic trading this morning. The start of the open outcry pits and U.S equities open brought prices back down, but since then, they have been slowly crawling back towards the $72/barrel price level. Let review the trades we took today….

Our first trade of the day came earlier than usual, and before the start of the open outcry pits at 9:00am EST. We had noticed that price had been retracing most of the morning, and thought that there might be a brief change in trend because of the increase in volume coming into the market. After the Crude Oil had made a strong push into the 71.50 price level, we began to see weakness in the buying pressure and looked to take a trend reversal trade with the 2-step set-up. At 8:35am EST we entered short on the Crude Oil (Symbol CL) with a 2-Step at 71 35. With the stochastics curling in our favor to the downside, we quickly noticed the pace of the tape speed up with more sellers entering the market and were able to close our trade with a profit of +3 ticks (2 contracts) for a total of +6ticks on the trade ($10/tick) (+$60).

Once the open outcry pits and the U.S equities market opened, we noticed the sellers really began to take control of price and try to push it back down below the $71/barrel price level. With the short term trend being down now, we looked to scalp a few ticks on this trend with either our James Wave set-up or our newest trade set-up the Breaker. At 9:49am EST we finally got our chance to take the Crude Oil short (Symbol CL) with a Breaker set-up at 71.11. We watch price action closely to see if our first target would get executed, but when we noticed our momentum indicator had begun to curl against us, and the P.O.T indicator went red, we decided to close out our trade at scratch, +/- 0 Ticks.

Our third and final trade of the morning came shortly after our second at 10:09am EST and once again on the Crude Oil (Symbol CL). Price action had made a clear double bottom on the $71.00 level and so we began to look for a trade set-up to the long side. Once price had given us a swing high, we decided that a Breaker set-up long was qualified, and entered the market at 10:09am EST with a basis of 71.35. Momentum quickly curled in our favor and some substantial buyers also entered the market, sending it higher within seconds, we quickly realized our first two targets of +4 ticks (2 contracts), +8 ticks (1 contract) had already been filled, with our final contract trailing behind our trigger line, we let it run for an additional +7 ticks (1 contract) for a total of +23 ticks ($10/tick) (+$230).

3 Trades Taken On The Crude Oil Market.

Market Content September 21, 2009

• Another profitable day at the School of Trade! Volume is slowly but surely crawling back into the market and it certainly gave us plenty of trading opportunities for our members as well as guests in our Live Trading Room. We took a total of three trades today, and all on the Crude Oil (Symbol CL) for a total of $ +40.00 on 4 Contracts.
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• The market action on the Crude Oil today looked to be squeezing any and all buyers from the market. From the beginning of electronic trading, the Crude Oil market had dropped from roughly $72/barrel down to $70/barrel by the time the open outcry pits opened at 9:00am EST. With the obvious short trend, we began to notice that a trend reversal was about to take place, and so when looking for a trend change to the long side, we watched as a possible 2-step set-up on the Crude Oil. At 9:07am EST we entered the Crude Oil market long with a basis of 69.50, with anticipation of a pullback in price from its dramatic drop early on in the morning. We watched intently as the momentum slowly began to curl in our favor to the long side and with it more buyers entered the market, giving us the opportunity to lock in profits at +4 ticks (2 contracts), +2 Ticks (1 contract) +2 Ticks (1 contract) for a total of +12ticks on the trade ($10/tick)(+$120).
  
  
  
• Our second trade of the morning came shortly after the opening of the U.S equities market at 9:30am EST. Since the start of the open outcry pit at 9:00am EST the Crude Oil (Symbol CL) market had retraced about half a dollar/barrel and looked to continue its trend to the long side. After a strong rally in price, we looked to enter in continuation with the uptrend on a breaker set-up to the long side. We entered the market long at 9:46am EST, but once in the trade, we noticed that the momentum in both price action and on our indicators were showing a slowdown to the long side, so without hesitation we closed the trade at our entry price, with a breakeven trade +/- 0 Ticks. Getting out of a trade early that isn’t going in your favor is crucial to becoming a successful trader, especially when your technical indicators are telling you to exit. This is why we use them so much, to help us react to the price action and not predict it; in my opinion closing a trade at breakeven is as good as a winner.
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• The final trade of the day for us at the school of trade came after the 10:00am hour, where we looked for a continuation of good price action and volume. Price action after our second trade had once again trended to the short side, and with price action looking to continue that trend, we began to qualify our trend continuation trade, the breaker. After breaking one of our levels of support provided by our auto line levels indicator, at 10:12am EST we looked to continue in the down trend by entering the market short with a basis of 69.20. once in the trade, we waited patiently for the sellers to take more control of the price action, and although we believed the sellers were there, after seeing our first profit target missed three times, we decided to exit the trade early, closing with a small loss of -2 ticks on the trade (4 contracts) for a total of -8 ticks ($10/tick) (-$80).
  
  
  
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SchoolofTrade Market Commentary 9-18-09

Market Content September 18, 2009

Well another profitable week for the School of trade has come and gone! Today we noticed decent volume, especially for a Friday afternoon, and were able to take some great trades! Today’s trade totals equaled 2 for 2 with $440 in profit. Not a bad way to end our week at all!!
Our first trade set-up after the 10:00am EST hour and with the crude oil market staying within a dollar range of $72 - $73, we were very selective in picking our trades today, especially after having a solid week of profits. Before our first trade of the morning, we saw that the Crude Oil price action was making a rally towards its highs, and decided to take a trend following trade, with the new Breaker set-up to the long side. At 10:32am EST we entered the Crude Oil (Symbol CL) with a Breaker long after price had pulled back, giving us a great entry with a basis of 72.20. With the speed of the tape in our favor and momentum starting to curl in our favor, we were able to lock in profits at +4 ticks (2 contracts), +6 ticks and our final contract got us an additional +8 ticks for a total of +22 ticks on the trade ($10/tick).

Our second and final trade of the morning came shortly after our trade in the Crude market, but this time we were able to scalp a few ticks off the Mini-Russell instead (Symbol TF). Since the opening of the U.S equities market, it was clear that the sellers had taken control of the Mini-Russell, but entering the 10:00am EST hour, we noticed that it was beginning to retrace off its lows, so we then began to look for a possible trend reversal trade set-up. At 10:52am EST we finally were able to capitalize on a 2-step set-up to the long side on the Mini-Russell. Our entry price was at 612.0 and it wasn’t long before we had gotten our first two targets of +4 Ticks (2 contracts) and +6 ticks, our final contract, which we let run to gain as many ticks as possible on the trade, got us an extra +8 ticks on the trade, for a total of +22 ticks on the trade ($10/Tick).

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Day Trading For Beginners, Market Commentary Schooloftrade

Market Content September 17, 2009

Well another great day of trading for the School of Trade. It’s quite evident that volume is slowly flowing back into the market, and although we might not be seeing the market conditions we’d like to, our set-ups combined with a strict disciplined trading routine makes it tough for the market to take money from us! Today’s trade totals were 2 for 2, with $330!

Our first trade of the day came on the Gold futures market (Symbol GC), not long after the opening of the open outcry pits at 9:00am EST. Prior to the open of the outcry pits, gold had been making new highs earlier in the morning and finally began to retrace off its highs, and continued its down trend into the open of the U.S equities market at 9:30am EST. Trading within the short term trend, at 9:10am EST we noticed that the Gold market had begun to pullback off one of our levels of support, and we looked to take it for a breaker short. We were able to enter the market with a basis of 1014.0 and once momentum turned to the short side, we were able to lock in +4 ticks (2 contracts) before closing our trade, with a total of +8 ticks ($10/tick).

Our second and final trade of the day came on the Mini-Russell market (Symbol TF). The U.S equities market open brought with it a large rally off the current lows of the day, and we soon looked to capitalize upon the retrace of the rally once it made new highs. The first half hour of the U.S market open brought with it great volume, and the Mini-Russell continued to trend higher until around 10:00am EST when the buying pressure was finally taken over by the sellers, and price began to consolidate, giving us a heads up on a future trend reversal. At 10:24am EST, after being given a swing low in price, we took the Mini-Russell short with a 2-step pattern. Our entry was at 617.4, and with the P.O.T indicator telling us the tape was moving fast enough, we joined the sellers and were quickly able to lock in some great profits at +4 ticks (2 contracts), +8 ticks and then after letting our final contract run, we gain yet another +9 ticks on the trade, bring it to a total of +25 ticks on the trade ($10/tick).

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Day Trading Services, Market Commentary Schooloftrade

Market Commentary 9-16-09

Today’s market action brought with it yet again numerous set-ups for all of our traders here at he School of Trade. All of our trades surprisingly came on the Crude Oil today (Symbol CL), even with its inventories number being released at 10:30am EST. Today’s trade total’s equaled 2 for 3, $200 in profit!



Our first trade set-up came shortly after the opening of the Crude Oil open outcry pits at 9:00am EST. Till then the market had been consolidating into a range around the $70-$72 price level, and it began to retrace of its current day highs, the opening of the pits began to send the market higher as buyers took control of the price. At 9:08am EST, after price had failed to fulfill a 2-step short qualification, we looked to enter with the short term trend of long with a Breaker set-up. Once momentum curled in our favor and the speed of the tape began to increase via our P.O.T indicator, we entered the Crude Oil (Symbol CL) long at 70.79. Once in the trade we began to watch our instruments closely, to better identify if the trade would continue its trend. With no dynamic levels of resistance in our way, we were able to take profits via our ATM strategy on NinjaTrader at +4 ticks (2 contracts), +8 ticks and then our final contract, which we trail to lock in more profits, gave us +12 ticks, for a total of +28 ticks on the trade! ($10/tick).

Our second trade came after the release of the Crude Oil Inventories number being released at 10:30am EST. The inventories increased to -4.7M from the week’s prior inventories of -5.9M. This new certainly disrupted the price of Crude Oil, and so we waited an extended length of time before taking our next trade, to ensure the added volatility was gone. After the market had calmed down, we looked for another possible set-up, the market began making a large rally into the 71.50 price level, so we knew a possible trade would be coming. At 10:55am EST, the Crude Oil market began its pullback after breaking the 71.50 level, but when it failed to create a James Wave pattern as well as a 2-step pattern, we then looked to take a Breaker to the long side. With all of our technical’s pointing in favor of our trade, we entered the market at a basis of 71.65; but due to our momentum shifting to the downside, we decided to exit the trade early to try and prevent losses, and ended closing the trade at a small loss of -2 ticks (4 contracts) totaling -8 ticks on the trade ($10/tick). As our screenshot shows though, our trade would have made us money, but all of our members at the school of trade know, we never guess what is going to happen in the market, there’s no predicting, just reacting to what actually happens!


Our third and final trade came towards the beginning of lunch for U.S traders, around 11:00am. The market had been trending down off its high’s and shorting into the 71.00 price level and lower. We began to notice though that the selling pressure was drying up, and the buyers had a chance to reclaim the market. At 11:24am EST we were finally given our opportunity to take the market long, when a pullback in price gave us a possible 2-step formation, we waited for price action to qualify the trade and then took it long with a basis of 70.90. Taking into consideration the market action at the time and especially the time of day we were trading at, we were very strict in keeping a tight leash on this trade. While in the trade, we noticed our momentum indicator was beginning to curl down ever so slightly, and with a decrease in the speed of tape, we decided it was best to take a scratch on this trade and get out at our entry price, instead of waiting and hoping the trade went in our favor. Nothing gained or lost on this trade, and the important lesson here was that, even though the trade did eventually go in our favor, we didn’t break our rules, and when our indicators told us to exit, we did.

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Market Commentary from Schooloftrade

Nightly Newsletter, 9-15-09

Another day of profits for the School of Trade! We noticed the markets today created a rather large range for themselves, and didn’t stick to one distinct direction. This gave us some great price movements and with volume slowly coming back into the markets, it was another great day of trading, with a total of 4 trades, we ended our day 3 for 4 with a total profit of $184 on 4 contracts.

Our first trade of the day came early on the Dax Futures (Symbol FDAX). The Dax began to short into the open of the London market at 3:00am EST and continued its trend for almost an hour. Then at 3:54am EST we noticed that the sellers were beginning to take profit around the 5600 price level. We quickly saw a 2-step trend reversal pattern setting up and decided to enter the market at a basis of 5612.00 to the long side. With momentum curling sharply in our favor, the Dax price action began to speed up in our favor and we were able to lock in profits of +4 points, or a total of +8 ticks on the Dax ($36/Point).

The second trade of the morning came once again on the Dax Futures (Symbol FDAX). The Dax had continued to consolidate into the 5600 price level since our first trade and we were continuing to look for one of our James Wave patterns. The market continued its downtrend, until shortly after 5:00am EST when we noticed the selling pressure had once again began to die down. At 5:15am EST we entered the market on a trend-reversal 2-step long with a basis of 5596.00. With our first price target at +4 ticks, we watched intensely as price action tested our first target three times, and when we still were not filled on our first target we decided to close our trade early because the price action was showing little to no conviction it was going to go high, we closed the trade at break-even.

The third trade of the morning came on the Crude Oil market (Symbol CL) just after the opening of the Crude Oil open outcry pits at 9:00am EST. At this time in the market, it had had a strong uptrend, rising over a dollar in price since the beginning of electronic trading, and we began to look for a possible trend reversal into the US equities open. Trading into the open of the Crude Oil pits, price had begun to consolidate around the 69.50 price level and seemed to already beginning its transition to the short side as volume entered the market. At 9:02am EST we took our latest School of Trade set-up, the Breaker, which is a short term trend continuation trade with a basis of 69.30. We took the trade because our 2-step trend reversal set-up had failed and price action looked like it was going to continue its downtrend into the open. With the stochastic’s curling in our favor, and with price action giving us a steady flow to the short side, we were able to lock in profits at our first target of +4 ticks (2 contracts) before getting scratched out of the trade, for a total of +8 ticks on the trade ($10/Tick).

Our final trade of the morning came on the Crude Oil market (Symbol CL). Price action had provided us with some great swings and began to retrace off its daily highs around 10:00am EST. The retracement didn’t last long and price action began to increase to the long side once again. We then began looking for a James Wave set-up and/or a Breaker pattern. At 10:59am EST we noticed a Breaker set-up to the long side setting up, so with the short term trend on our side, we entered the market at 69.35, and after seeing our first target not getting filled after three attempts, we closed our trade out at a small loss of -1 tick (4 contracts) totaling -4 ticks on the trade ($10/Tick).

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Day Trading Futures For Beginners...Market Commentary

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Market Content September 14, 2009

Today we saw some increased volume in the market, but overall, we still haven’t seen the large push of buyers and sellers enter the market as they have in the past. With the 1 year anniversary of Lehman’s collapse and what seemed like a global financial slow down, it’s no real surprise to us at the School of Trade, that the market isn’t its normal self, and it may never be the same, but that doesn’t mean we can’t still trade the markets! Today’s trade totals: 3 for 3 +40 Ticks = $400 in Profits!

Our first trade of the day came on the Crude Oil market, (Symbol CL). The Crude Oil market wasn’t making too many dramatic swings in price, most likely due to the massive short slide that came last Friday, where the Crude Oil market dropped more than $3 off its highs, closing below $69. After the U.S equities open at 9:30am EST we finally saw some decent price action, and the markets began to wake up a little bit. At 9:54am EST we took the Crude Oil short, off our newest trade set-up, the Breaker Pattern. We entered the market short at a basis of 69.04, and looked for price to continue to the short side. With the stochastic's beginning to curl over in our favor, we were able to quickly scalp some profits of +3 ticks (2 contracts) before closing the trade for a total of 6 ticks ($10/tick).

Our second trade of the morning came shortly after our first, and once again on the Crude Oil (Symbol CL). After price had retraced higher after our first trade, it continued its downtrend and began shorting into the $68.00 level. Price began to short into one of our levels of support and set-up in a perfect 2-step pattern to the long side. To capitalize on the quickly trend reversal, we entered the market long at 10:09am EST for a 2-step long, with a basis of 68.77. After seeing price action break our dynamic levels of resistance, the buyers finally took control of price, and we were able to use our ATM strategy via Ninja Trade to lock in profits at +3 ticks (2 contracts) and +6 ticks (1 contract) for a total of 12 ticks ($10/Tick).

Our third and final trade of the morning came once again on the Crude Oil (Symbol CL). Price had been consolidating around the $69.00 level and we were waiting patiently for a break either above or below that level. We quickly got our break-out around 10:40am EST and price began to trend higher into the mid $69 level. We noticed though that the buyers were quickly losing the momentum, and as many looked to take profit, the sellers began to enter the market again, which meant we would be looking to go short with a 2-step. At 10:50am EST we entered the market short with a basis of 69.20, due to speed of the tape increasing to the short side and momentum curling to the downside. With the sellers on our side, we quickly took profit at +3 ticks (2 contracts) +6 ticks (1 contract) and then let the remaining quarter of our trade run. With sellers controlling even more of the market, we watched as our final contract run for an extra +10 ticks (1 contract) giving us a total of 22 ticks on our final trade! ($10/tick).

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Post Labor Day Trade Results, Market Slowly Comes Back.

Market Content September 8, 2009

Today certainly was a nice gift after the long Labor Day weekend, when we opened up our charts there seemed to be some actual volume in the market! It was clear to see that today’s price action showed us just a little bit more volume than last week, which is a great sign of things to come in the following months. We were able to take one trade today, which came on the Crude Oil market, and netted us a profit of 21 ticks or $210!

Our one and only trade of the day came on the Crude Oil (Symbol CL) just before the opening of the open outcry pits at 9:00am EST. The Crude Oil market had continually been making new highs all morning, and market sentiment was still showing us the long side. After price began to break the 71.00 level with great order size and speed of the tape, we looked to take a continuation of the uptrend trade with our James Wave to the Long side. After a strong push up in price, we notice a small quick pullback to our trigger line starting to take shape and at 8:43am EST, with the Pace of the Tape indicator flashing green and our Stochastics pointing long we entered the Crude Oil long with a basis of 70.52.

Upon entering the trade we quickly saw price move in our direction as large buy orders came streaming across the ticker tape, we were filler rather quickly for +4 ticks (2 contracts), +8 ticks (1 contract) and our final contract we let trail with our trigger line on our trade management chart for an additional +5 ticks (1 contract), giving us a total of 21 Ticks on the trade, for a total profit of $210.