Anthony Speciale Stock Market Analyst

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MORE MONEY, MORE QUICKLY, MORE SAFELY.

What To Do When the Market Just Won’t Cooperate

As I’m preparing to roll over to my next crude oil futures contract, I want to take a minute to reflect on the past 30 days.

As I’m preparing to roll over to my next crude oil futures contract, I want to take a minute to reflect on the past 30 days.

The energy sector has been in a whirlwind lately, with so many outside forces tossing it around like a ragdoll.

This past contract, I had three 1%+ price confirmations, yet none of them led to the opportunity to make any money.

Patient Trading is Profitable Trading

I’ve been earning a living exclusively trading the energy sector for nearly a decade. I eat, sleep, dream and study the WTI light sweet crude futures market.

And normally, the opportunities come along every few weeks to every few months depending on conditions.

Well, current market conditions are making the opportunities quite difficult to come by.

Taking a Pass

The first trade opportunity of this contract was beautiful, but the price action gapped away from my entry, and my limit entry was never filled.

The second and third setups offered more risk than they did reward, which kept me on the sidelines.

Daily Chart of Crude Oil Futures (May 2022) — Source: TradingView

Check out the chart above so you can see the opportunities that didn’t transpire for yourself…

At this point, my wife probably wants to know when I’m going to make her some money.

I took a trade in December that I closed in January, and I took another in January that I closed in February.

But since then, I’ve been sitting on my hands on standby, just waiting.

Here we are in mid-April, and of course our taxes are due. So, a nice win right now would be ideal, but this is the game.

Sometimes you’re on fire, and other times the market just doesn’t want to cooperate.

Nothing New

I’ve been through these periods before. It takes time, but this too shall pass.

The digestion of Russia invading Ukraine, combined with the man-made energy crisis, the release of our strategic reserves and a whole bunch of other factors is taking a toll.

We usually see a few dollars of intraday movement in the oil market. Lately, we’ve seen as much as $23 worth of price action in just one single day.

That’s insane!

And I say that because I have to take price action into consideration when placing a stop level, as we can’t risk the entire bank account when taking a trade either.

This takes me back to the pandemic plummet when prices went negative.

I took two short positions on the way down and then basically stepped aside and waited for the market to return to some form of normalcy.

It took several months, but it is what it is!

Take the Next Step

If you’d like to learn more about my approach, I highly encourage you to check out my premium trading service, The Speciale Report, which focuses exclusively on the crude oil markets.

We trade it in the futures, ETF and options markets, all of which give members the opportunity to trade at their comfort level.

That’s the beauty of The Speciale Report’s trade ideas… We accommodate all styles of traders. There’s really something for everyone.

If you’d like to learn more about the opportunities the energy sector offers, please feel free to check out The Speciale Report by clicking here!

Rules to Live By

“Do what is right, not what is easy nor what is popular.” Roy T. Bennett

Until next time, I wish you a beautiful and blessed day!

Yours In Trading Success,

Anthony Speciale Jr.

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