Markus Heitkoetter, the CEO of Rockwell trading, in his new series - Coffee with Markus - has been explaining different trading strategies to help traders in maximizing profits and reducing losses.
In Thursday’s show, Markus makes a decision to trade crude oil using Seahawk strategy. Although it’s an advanced trading strategy for new traders, Markus promised to move back to basics from the next week.
Over the past few months, Markus was trading crude oil by using the strategy of 'risking $120 and making $60'. This particular trading strategy has the high winning percentage and this is why this strategy makes a lot of sense.
While Markus has been trading on the long side, he plans to trade on the short side to see how this works when trading on the short side.
Markus uses small accounts when he is testing new strategies. Markus enters a position in crude oil at $48.84 a barrel. He set the stop loss and profit target ratio at $6:$12.
Markus found short trades a risky play after closely inspecting key elements, at least in the current environment. He also found trading on the short side in the last couple of months was also proved risky for day traders. Therefore, he decided to go on the long side to avoid the potential losses.
He also inspected e-mini S&P to find attractive trading opportunities. Get these insights live at http://rockwelltrading.com/prcoffee.
SOURCE: Press Advantage [Link]
Markus Heitkoetter founded Rockwell Trading in January 2005 with ONE goal in mind: To simplify trading and help day traders achieve their goals. Since then we have helped over 340,000 traders from more than 38 countries. Visit us at rockwelltrading.com
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