Futures Trading based on COT Report W16-20

by Michael Chechnev | Apr 19, 2020 | Trading week results

Hello Traders,

let’s summarize the 16th trading week.

After the previous unprofitable and “zero” weeks, we almost closed drawdown. This week we closed the following positions:
NASDAQ Profit $15,682;
Soybeans Loss $2,550.

By the end of the week we came up with a short position in soybeans and Canadian Dollar.

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SOYBEANS (open position)

SetUp to sell for Soybeans was published in the weekly trading plan W15.

At the beginning of the week we had 9 open short contracts. We closed part of the position, because correction began. Here we lost $4,250. Later, the price returned to decline and we restored our short position. There was also a rollover to a new contract. During the rollover, we earned $1,700. Thus, at the moment, we recorded the loss of $2,550 in Soybeans. However, the position is in profitable zone at this moment.



The last three days have been days with closing down. We also see a bullish momentum here. Most likely there will be a correction to MA18 and most likely on Monday we will close this short position. We’ll take a closer look at the strategy on weekly plans taking into account the newest COT reports.




NASDAQ (closed position), profit $15,682.

SetUp to buy for NASDAQ was published in the weekly trading plan W16.

We opened the position for three reasons:
1. Based on SetUp, which was formed on the basis of the COT report from 04/03.
2. The presence of a short-term pattern Inside day.
3. The presence of a range of positive trades for the TDOM strategy.

These three factors allowed to earn $15,682.

We opened a similar trade in our small account and earned $922.

Next week we expect a correction here. There is a bearish accumulation.






CANADIAN DOLLAR (open position)

Another trade of the last week is the long trade in Canadian Dollar. This is the long setup from week 16.

We entered a trade according to our pattern MA18. After the entry, a correction began, but by the end of the week the price recovered.

Position is kept. For part of the position, stop loss is moved below low of Thursday. For the second part we leave stop loss at the same level.

We will see how the trades will be held on Monday and then we will make a decision about moving stop losses. Here the bullish momentum and seasonality also contributes to growth. We think that growth will continue, but it will not be as impulsive as we would like.







INDEX CRB

The 16th week is inside week. Next week is seen to be falling. We will make decisions of entering new positions and strategy of open positions, taking into account this vision.

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That’s all about our trading in this week. We have $13,132 as our profit in Pro account and $922 in Small account.
Next, we are moving to planning trading week 17.

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