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Day Trading Crude Oil Inventories News almost took all my profit!

583 views · Published 20 January 2011 · 9:39 · Indexed 6 November 2026

Channel: Joseph James Trading With JJ · 2011 · Education

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http://www.sidewaysmarkets.com/2011/01/day-trading-crude-oil-inventories-news_20.html

Wow what a day in the trade room....we earned 150 ticks before 930am this morning using the 830am news and the dollar correlation to make educated trading decisions.

We saw the gold, crude oil, euro and Russell looking PERFECT to sell the highs, and that's exactly what we did.

We stayed away from selling the lows and we focused on selling much easier retracements taking profit at the recent  swing lows.

It's a VERY easy strategy that works very well in any timeframe.  Day traders, scalpers or swing traders, we always use the same basics.

We then saw crude oil inventories late in the morning and we had to really use discipline not to over trade it...watch as we took a full stop loss and had to sit on our hands the rest of the morning.

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