Today, due to the 4 day week, the crude oil inventory report came out. Usually it comes out on Wednesdays at 10:30 est. When there is a holiday and a 3 day weekend, the report comes out on Thursday at 11 am. SST Members were treated to a good look at what we do on Weds, during our VIP session. We trade CL with a very specialized tradeplan. You will find the details on the right side of this post in the Crude 377 Tick tradeplan page.
The results were amazing today. Our first trade of the day took a small loss for – 16 x 2 = – 32 points. As per our tradeplan, we stopped after that until a couple minutes after the release of the report, 11:02. The first trade after the report, that we took, gained +.96, $960. Many traders quit after that, with a nice net result of +.64, $640. Many of us like to ‘lower our expectations’ on extreme sessions like this. Why was today extreme? Because tomorrow is the big ‘grand daddy’ economic report, Non-Farm Payroll. Markets can get very choppy the day leading up to that particular report so some experienced traders lower their expectations and look for a way to quit positive on the session even if it is prior to normal tradeplan’s quitting time.
Others stuck to the tradeplan which did require some additional trades including a few small losses and a couple GetBob trades. Still though, remaining true to form, the tradeplan ended with its poq goals, ultimately gaining +.32, $320.
The Russell eMini also had an excellent result, hitting its power of quitting goals and breaking out to all new record profit levels again. After an unfortunate first trade loss, that barely ticked in (that can happen once in a while), the trade swung around, reversing to a nice winner. Then it reversed again, to another full winner, which also gave us the opportunity to add to our position as the price momentum increased. The add-on trade also hit its full target and we were quickly done with a very handsome result, and third winning session in a row on the Russell eMini. Again, sticking to the tried and true tradeplan guided us every step of the way making what might have been considered very tough trade decisions, easy to make.
See Russell eMini Trades from Today’s Session and regular traded tradeplan; + 5.3 points, $530 and all new record profit levels.