Week’s Review for the Oil Day Trading Room (week ending 9/12/2014)

Room members asked me to post the charts so they can help to identify patterns for the room but this post is not just for members. Take a good look at the trades on these charts (below) and leave your comments below.

A word form one of our members...
A word form one of our members...

If you are not benefiting from the room now, perhaps these charts will help you to see just how much of a huge opportunity our room provides for crude oil day traders.

Here is a basic suggested exercise for anyone viewing these charts. Ask yourself how often you do not see at least a one bar (5 tick) follow through on any trigger? Consider this a winner or a trade that you could have close to a break-even on. Then ask yourself how many did not have that follow-through?  For example. Monday during the session there were 10 trade triggers (not counting doubles).  Only one of these did not follow through for a 90% win ratio. Next, you could ask how many followed through by at least 2 bars (10 ticks).  The answer to this is 80%.  You can form strategies off these kinds of stats.  For example, we have traders in the room who take 9-10 ticks on half their position and try to let the rest run. Just ask in the room if you need help.

The real key is when you realize during the week how many of these multiple bar runners you would get caught in.

The room is much more than just these set-ups however. We have commentary on market action. Advanced topics for learning how to trade better, a complete money management system and a complete market context analysis system.  Not to mention, we are very privileged to have some world class traders in the room who share their insights and knowledge during the session.

Tabulate that  for the week and put your result in the discussion below.  If you want to take your analysis to a higher level, know the room rules from the rules page and other techniques from the blog articles and get an even more advanced understanding of just how good the room really is!

The charts below start on Monday and are in Pacific Time so add 3 hours for the New York Time.  Some charts will have overlap and some days will have more charts than others.  Enjoy and share what you find in the room!