- Her go-to indicators. Fibs, Order Flow, Tick Charts, etc.
- She walks through one of her go-to trade scenarios in Crude Oil.
- Managing trades into a news event.
- Her Crude Oil outlook for the near future.
- “If I use fundamentals it’s for longer broader based swing trading, and seasonal trading. My intra-day trading is all price-action…” 3:30
Guest:Tracy @chigrl – Professional Oil Futures Trader
Dear Traders,Today we had a very knowledgeable guest when it comes to day-trading oil. She is a professional futures trader who’s built a career around the oil markets. We discuss the many reasons why oil has moved back to $40 and what would indicate the next moves. Tracy explains the benefits of using Market Profile and how it identifies tops and bottoms. She also tells us why $40 oil is not having a major impact on the equities markets. Finally, she reveals a “break-even” graph helps her gauge the fundamentals in the oil industry. Tracy and I had a great technical trading discussion today. I hope you enjoy it as much as we did. Take care and thank you for listening to the show.
- Biggest reasons Oil has moved back to $40. Where it goes from here.
- Using Market Profile to identify weak tops and bottoms.
- Explains why $40 oil isn’t having a major impact on equities.
- How the “break-even” graph helps Tracy gauge fundamentals in oil.
Answers to the 4 rapid fire questions at the end of the show:
- Favorite Book About Trading:
- James Dalton. Mind Over Markets.
- Favorite Movie About Trading:
- The Big Short
- Best Advice Ever Received About Trading:
- Trade what you see, not what you think.
- Advice to Give to Others About Trading:
- Trade level to level. Don’t try and hit home runs all the time. Go for base hits.
Resources:Twitter: https://twitter.com/chigrl Website: http://chigrl.com/ Link to James Dalton: http://www.jdaltontrading.com/james-daltons-books/
Quotes:The market profile likes to be a nice bell curve. Usually higher volatility = More positive correlations to oil stocks.
Relevant charts pertaining to guest’s comments:
Below: Red arrows indicate areas where above there will be stops.
Below: blue arrow shows weak top/bottom...red arrows show week areas in profile where next day market revisited and filled.
Below: break even prices.
- Oil Futures Trader
- Tracy tells us her backstory and how she got started as a futures trader
- Her thoughts on the latest fundamentals in Crude Oil
- Her and Anthony discuss the latest comments from Russian Oil Ministers