TopstepTrader Funded Trader Preparation Day 3
Thanks for stopping in and reading my trading blog. Today was Day 3 of my TopstepTrader Funded Trader Preparation. Looking at the Crude market the overnight session was mixed bearish and bullish, by the time the Pit Open came around the market started to sell off and didn’t look back. I had a few trades but the momentum was moving really quickly and I decided to take step back and watch. I ended up with over 50 ticks ($500)
I did notice the Emini S&P 500 was sideways and it remained that way until news hit (Existing Home sales and Home Price Index) at 10am EST. I felt that the market way try to move up and it was a very important price area the 1930-1940. I tried 3 times to take it long getting stopped out each time, I then started to see the sellers come in quickly and I got short at 1932.50 and held the trade until 1925.
I also had 2 more trades at the market close the added alto more to my bottom line, I rarely trade ES only when I see an opportunity to make more than 5 points on any single trade. My Momentum Trading Strategy allows me to use a very small stop loss when entering that give me more than 1/4 risk/reward minimum.
A great few trades in the ES and CL markets and it takes my profit total to $1661 and that is more than half way to my target of $3000 in 10 trading days.
Tomorrow is Crude Oil inventories and I do not plan to trade until after the news comes out, we will see if any good opportunities become available.
Thanks for reading and feel free to add me to Skype to chat or send me an email!