Today is Wednesday March 21 which means we have our usual Crude Oil Inventory Report trades we like to do but today we had a pending FOMC statement that can turn the market into chop and churn until release.
A proper trading plan accounts for any news release and other economic data that is planned and the one our Inner Circle group of traders use is no different.
The goal is always to be consistent by following our trading plan, hit our modest trading goals with the first trade and finish within a 3 minute trading window.
Part of the reason that we continue to have big success is because of the great value we put into humility – understanding that we have no control over the market. All we can control is that we use a well tested, proven trade plan and trading system that puts the odds on our side and part of doing that is surrendering to what the market wants to give us.
The market does not care what we want out of it. Our only control is to follow the plan and take full advantage of the opportunity the market presents. Our weekly Crude Oil Inventory Report trade plan with the Counter Punch Trader continues to prove that important aspect to ongoing trading success.
Take The Trade – Take The Profits
As mentioned earlier, the market was a little tight today so we keep our expectations in line with the market movement. That is easy to do with our Counter Punch Trader because our price targets dynamically adjust to the volatility in the market.
- Big moves in the market = Larger profit targets
- Smaller moves = Smaller profits
We don’t impose our wishes onto the market which can make you deviate from the trading plan. Our expectations are adjusted automatically by our trading system and our job is to follow it.
In the video below, watch how:
- We followed our rules
- Hit our perfectly calculated target
- Got out of the way just in time for the market to reverse direction
We hit our goals with the first trade, a target two winner and were finished. Another winning session for our weekly crude oil inventory report trade.
As our account grows we increase our position size so even a small winner can be a substantial gain when sticking to the program with our money management plan. Anyone following this trade plan has certainly enjoyed a big equity run up as this plan continues to win, week after week.
Latest posts by CoachTJ (see all)
- 5 Crucial Aspects Of A Winning Trading Plan - August 24, 2018
- Day Trading Blueprint for Success — Crude Oil Inventory Report - August 9, 2018
- Losing Trades Can Be Great For Your Bottom Line - August 2, 2018