
I trade this strategy but never before the London open and never 3 hours 
before the New York close. Before the London open spreads are usually higher 
and the market moves slower. I never trade 3 hours prior to the New York close 
because opening trades at that time is more risky since many traders will close 
their trades during this period and best is to minimize risk. I also never keep 
trades open overnight.

Pictures always show the best entries and exits, but, as you know, this isn't 
always the case. For example, the third arrow on the attched chart indicates a 
break even trade but only if the trade was opened exactly at the beginning of 
next brick after the second arrow (down) at $63.000 and closed exactly at the 
beginning of next brick after the third arrow (up) at $63.000. It's likely that 
this trade didn't result in breaking even but losing 2-5 pips depending on the 
entry and exit prices. On losing trades expect to lose 10-15 pips. Losing and 
break even trades are inconsequent because there are a lot more winning trades 
than losing and break even trades combined and you can expect a lot more pips on 
these winning trades. The third arrow buy signal to the fourth arrow close and 
sell signal generated 12 bricks or 120 pips. In any case I don't know a better 
strategy to trade the market on a short-term basis. The only tricky part is to 
choose the best brick size.

There are many traders here that trade WTI because, like me, they think it's a 
good instrument to trade. I trade short-term but some traders prefer to trade 
long-term. It's a matter of choice. There are four main advantages of trading 
WTI:

1. It normally trends better than currency pairs;

2. The daily trading range (ATR) is normally high (140-180 pips) compared to the 
most popular currency pair EURUSD (ATR 50-70 pips). The higher the ATR the more 
trade you can squeeze in every day. This also means that you have more chances 
to recover from a lost trade the same day.

3. The cost of trading WTI is low, at least with my broker. For example the cost 
of trading, as represented by the margin for 10 lots of WTI 
(pip value of $1 x 10) is lower than trading 1 lot of EURUSD 
(pip value of $10 x 1).

4.  From EventsTrader post #9,402: "I'd probably add that WTI isn't session
specific. There's volatility almost 24 hours a day. You might see more 
volatility in the London/European sessions, and more so the US session. But it's 
always susceptible to volatility. As a day trader, that's what you want."