The Crude Oil session today had real lousy price action. The early morning sessions for us in the traderoom were quite successful though, hitting their tradeplan goals with the very first trade of our tradeplan, which is always good. That’s not what I’m referring to though with the title of this post.
Today was our typical Crude Oil Inventory Report Session, my favorite session of the week, as many of you already know. It was also FOMC day and whether or not that had any influence on the price action or not, it was pretty darn crappy.
I ended up throwing in the towel after the 3rd trade, as you will see in the video below. The tradeplan however required another trade and HAD I kept trading, the very next trade (the 4th one) ended up hitting its goals, and resulted in yet another winning session. Shows how little I know!!
Proven tradeplans are where the money is made. Period! This #CrudeOilInventoryReport Session rarely loses! Today was no different. It won again. All that was required was taking the next tradeplan trade.
In the end, I made up for it by trading after the FOMC announcement. I took a few trades in the YM, which was really moving nicely, and was able to end with a nice profitable day in the end. I used my newest and best strategy, the Spotlight Power Trader. Here are the trades I took that put me on top for the day.