Trade to Win - Proven Strategies to Make Money

c06 JWBT016-Busby October 10, 2008 20:38 Printer: TBD

The Path of Least Resistance 83

FIGURE 6.11 A 30-minute chart of mini sweet crude futures (QM) and OIH on

May 1, 2008, following a news release about oil inventories. The bar chart on the

left is OIH, which is an oil exchange-traded fund. The sweet crude oil chart is on the

right. A short play with either OIH or crude futures made a nice play.

PEARL 9

Crude oil tends to have a negative close on the last trading day of the month.

Review

I am a professional trader and I have been trading for many years. Conse-

quently, I trade a variety of products and employ various strategies to make

money. One of the strategies that I use is a breakout move. I look for prices

to break above or below an established level and I go with the trend. I use

this breakout move to trade a variety of futures products. I make the “Face

Peel” trade on the S&P E-mini futures. This trade is made in the afternoon

as trading at the CME nears an end for the session. It takes advantage of

a big market move that has occurred during the session. The trader lucky