VIEWS: 3 PAGES: 1 CATEGORY: Other POSTED ON: 9/30/2009
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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). **Insert CL 10-09 9_18_2009 Pic 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 setup 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). **Insert TF 12-09 9_18_2009 Pic *Insert below Pic #2: LEARN MORE ON HOW TO TRADE THE GLOBAL FUTURES MARKET AT: http://www.schooloftrade.com
"Market Content September 18_ 2009"