What was going on in Crude Oil ($CLX7) today? Our Performance Coaches tried to figure it out, but were stymied by the intense up and down movement. In total, they lost $187.36 on the trading session over two trades. Considering they could've easily been whipsawed back and forth, today was not a bad trading day.
Here's the breakdown of the trades they made and how they tried to navigate a tough market.
It was certainly a tough day trading Crude Oil if you were looking for anything other than a $0.50 range.
On a 30-minute chart (as shown on the commission-free TSTrader platform), you can see this volatility - one green bar followed by red bars followed by a green bar then a smaller red bar ... and then consolidation.
What made this volatility difficult for the Performance Coaches to trade was the fact that the bars would make new daily (or session) highs and lows before reversing. It was hard to buy Crude on a new daily low. And it was hard to sell it at a new high. So, they ended up getting stopped out on one position and then closing out another after Crude Oil floor trading closed.
Follow the trades on Twitter (@topsteptrader) using #CoachesCombine. Here's how we reported them today.
Total performance for the day, including fees and commissions: $-187.36. Balance is $49,246.21. For more, check out their Trading Combine dashboard below.