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5/17/17

Trading (CL) on A EIA Petroleum Status Report Day

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I felt really good about today, I didn't have a clue about the direction CL would go after the EIA Petroleum Status Report was released, did not want my bias to cloud my judgment. I was confident in my preparation before the trade as you can see on the chart. I  highlighted the 1st hour of the market open and the area of congestion, made a few quick trades, the volatility took out my tight "profit stop", with each trade, my stop was hit quickly. as I type this, I am tempted to get in again, maybe CL will reach R2?

I'm posting this chart early because I will be shutting down all charts and market data to ensure I am not going to be participating any longer in this market... with fewer oil supplies, it would be easy to conclude that a trader should just be long CL and disregard using a stop because this market is bullish... maybe? However, when maybe enters into my trading strategy, I might as well go to the casino... or play the lottery (think I'll go out today and buy myself a ticket).

Instrument: CL Jun'17
Lot Size: 1
Total # of trades: 3
Percent Profitable: 66.67%
Avg. Winning Trade: $+75.00
Avg. Losing Trade: $-90.00
# of winning trades: 2
# of losing trades: 1
# of even trades: 0
P&L Total: + $46

"Better Trading Ahead!"

CL Chart Analysis
CL 5/17/17 Made a few trades for a small profit, taking pride in the process of execution.

CL Chart Analysis
CL 5/17/17 Notice how far price came down off the previous highs, that would be hard to hold a stop on.
CL 5/17/17 Bullish day turns into a choppy day,


1 comment:

"Better Trading Ahead!"