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Warrior Trading Blog

16 Minute Work Day +$1,100 | Steve’s Futures Pulse 155

Ross_6.4

Hey, what’s up, traders? Making my video nice and early because I am done for the day. It’s not even 9:00 in the morning in Chicago, talk about the best job on the planet. Where else can you go to work for 16 minutes and make $1100, because that’s what I did today in Light, Sweet Crude. I didn’t expect it, but I came over to my trading office here to go to work for the day looking for opportunities, and a little after 8:00 Chicago time, I found a nice break-out confluence trade on both a 10- and 30-minute time frame chart on Light, Sweet Crude. Don’t worry, I’m going to show you the chart in just a second. And in 16 minutes total, I was in and out of the market, and I’m done for the day. My kids are out of school now, so it means I get to spend the rest of the day with my kids, how cool is that?

All right, take a look over my shoulder. I’m going to show you what the chart looks like here, so you can see what I looked at and why I pulled the trigger on the trade, and by the way, yes, I did post it in the Future Trading chatroom live for all the early birds sitting in there waiting for the opportunity. So it was 8:00 am, bar rate here, so it’s this one right here. See that first long range green color bar here. The big thing I saw starting to happen simultaneously here, this is a 10 minute chart right there and here’s the 30 minute chart over here. I saw both simultaneous breaks above the 10 minute chart, above what we call the supply area. See, 53.06 where I’ve highlighted right there, the supply area, you can look at it as kind of being like the upper band of the balance area.

When the market breaks above that, it’s the market telling us that the market is out of balance and we want to trade with the wave. We want to trade along or bullish so initiate a long position. In my case, it was six units at 53.09, that’s $53.09 a barrel. Remember, in crude 10 cents per penny is the calculation for the value of a tick. So the market ran up literally within three minutes. It was like three or four minutes after 8:00 and I was able to scale out very quickly five of my six units at a price of $53.32. So it was 11.50, I pulled out of the market again in just a few minutes time. And what I did is, I took my stock which previously was at 67 and I pulled it up all the way up here to $53.04, which basically locked in our worst case $50 remaining risk on that last unit.

Well, I still get to stay in the market with some skin in the game in case that market were to surge a dollar or two or three or maybe five. It happens in crude oil. Was it meant to be, the market did come back down as you can see right here, so I did give that extra $50 back to the market, so an even $1100 is how we end up fairing here today. Okay, bought and sold six by six, $1100 in Light, Sweet Crude. I’m done before 9:00. Boy, oh boy, this truly is the greatest job on the planet.

I look forward to meeting back at the Futures Trading chatroom and maybe you’ll come on over to Warrior Trading and join us. It’s a lot of fun, and guess what, we’re keeping it green in June. See you soon. Bye-bye.

Hey, I see you there. If you enjoyed that video, give me a thumbs up and leave a comment down below and be sure to subscribe for more great videos just like this from Warrior Trading.