David Walker, FACT Instructor
Dan Bustamante, CFOT
It's 2017 and it's time for new plans & new ideas. The key as all of us know is execution. A trading plan is just that, a plan, unless it's executed. As silly as it may sound it's the people that prepare, focus and execute that will do well, in anything, not just trading. Today we saw, what we would consider, a head-fake, by buyers on oil as it pressed higher in pre-market trading. To many, this looked bullish, however, to us and the prepared trader it was simply trading into overhead supply.
Above is a 4 hour chart of Crude Oil. The move this morning saw a strong failure where no new buyers appeared, however, that's the 'easy part'. The hard part comes on execution. How many lots would you trade, where is your target, how many targets, and would you just trade the futures market? This is where Professional traders really separate themselves from amature traders. It's NOT ENOUGH to call a trade or to post a chart, you need to make money on it, and A LOT OF IT.
Think of it this way. You have a quality trade set up, like above, you want to execute and maximize that trade. We discussed this exact thing last February as we again traded oil, but that time long. Today you had the same shot. If you knew ahead of time where you wanted to be a seller, then where your targets were you could have solely traded oil and reaped a good amount. Not some daily watch list that these 'day trader gurus' want you to believe is neccesary, not some news story about some new product coming out that's going to change the company earnings, but price. Price on the chart is what you need.
(Screen shots from Shark Futures Chat before oil move today)
Above are notes before this moved occured in the Futures Chat room. Not only did a few students rake in $700 & $1400 but we traded other products with this move that followed oil directly. Now this is how you trade. This is how you maximize your profits off one idea, one trade. This is execution.
You can learn more about the Landshark community, programs and get more information a few ways:
1. Attend a Trading 101 Webinar online or in a city NEAR YOU.
2. Follow our YouTube, There's a ton of free content there.