It wasn’t a massive trend day in Crude Oil – there was no one time framing or range expansion, but that doesn’t mean that opportunities didn’t abound to make a mint trading it like a professional. I am a big proponent of day trading using volume profile as a guide but to get proficient at that requires a lot of screen time and right and left brain thinking and sometimes it’s nice to just trade. To get in the zone and go long at the right time and go short at the right time. I’m sure you’ve had a day like that – a day where every trade counted and it seemed like you were on fire and if only you could trade like that every day – YEAH! That would be the ticket!
This video highlights my trading on CL today. I was only trading 3 contracts and my average stop for the day was 11 ticks – I think the smallest stop was 8 ticks and the largest was 15. The key to successfully day trading any market is to get in at the right time with the right number of contracts and just as importantly get out at the right time. I’m trading in the video using the market premise behind the DotTrader method which will print stops and targets for you. Take a look for yourself and see what you think about this style of day trading.