Final Trading Report During my trading experience I learned a lot of informational tactics about how the futures market operates and what factors influence it. My final results of my trading plan concluded a $___ gain trading May CLK crude oil futures contracts on cmegroup.com. I decided to only trade one contract in the beginning of my trading to focus on how I could advance in my futures trading techniques. Once I started to gain the necessary knowledge on how to profit consistently in the market, is when I started trading more than one contract and traded 3. I traded 3 contracts because in order to make money on small gains in the market I would have to trade multiple contracts. At first my philosophy was to make a swing trade and wait over …show more content…
Also, I found that when making a swing trade I would often loose money compared to being a day trader. I decided I was not going to leave positions open over the weekend because of unexpected geopolitical or economic events that might occur unexpectedly. I have learned that it is important to plan out at what specific time I was going to make my trades. As followed by Jeff Quinto’s advice, I decided to plan my trades during the most productive trading times of the day. These times consisted of the morning from 9:30 am to 12:00 pm and the afternoon from 1:00 to 2:00 pm. During these times I was most alert and reactive when trading. When I was looking for a small profit, I mostly traded in the morning when new news came out for the day that could affect the market. Every morning before the market opened I would look at news resources to see if any headlines indicated possible price movements for that day. If they were significant enough, I would wait through out the day until my pre-planned trading time. I waited until there was the most volatility for the news that came out, so I could make a small profit. For example, when news came out the day about the yen strengthening and the US dollar weakening, I waited till the market opened and when traders started grasping on