1 Lakh to 6 Lakh - Tamil Trader Crude Oil Trading Diary

[Tamil trader]

Date : 04.02.2014

Trade 1 :

Crude Oil Short at 6090 Positionally

 

[malayamoorthi]

For Example

My buy signal was at 5850 on January 15. But i did not buy because i was trading intraday at that time.

Now trailing stop loss is 6030 where the sell signal will come

Now Current Price is 6115.....

If i take long at 6115.. and get sell signal at 6030 i will make a loss...

I should have entered at 5850 but i missed... entering at the middle level 6115 is dangerous... So i am waiting for sell signal...

for your clarification, if i enter at 6115 and it goes 6200.. this is good luck.. but if i get sell signal after taking long position at current price 6115.. this is called wrong entry and wrong usage of strategy..

As per strategy, it is giving profit from january 15.

Then why u break the rule and u sell it on 6090 with out sell signal

 

[Tamil trader]

Then why u break the rule and u sell it on 6090 with out sell signal

Trailing Stop Loss moved to 6090 in my system. Earlier it was 6030 in my system.

Rule not broken

I will post my screenshot image tomorrow

 

[Tamil trader]

Date : 04.02.2014

Trade 1 :

Crude Oil Short at 6090 Positionally

Short Covered at 6140

50 Points Loss

 

[Tamil trader]

Trade 2

05.02.2014

Crude Fresh Long Taken at 6140

 

[spiritunit]

I will post my screenshot image tomorrow

Waiting for the screenshot. Also, trading with 1 lot?

 

[Tamil trader]

Crude Oil Previous 6.4 M

Crude Oil Actual 0.4M

Crude oil is bullish as per inventory result

 

[throwawayacc123]

Crude Oil Previous 6.4 M

Crude Oil Actual 0.4M

Crude oil is bullish as per inventory result

Tamil trader you seem to be doing quite well. But you are forgetting something very basic. Remember news is already factored in before the news is announced. It does not matter if news is good or bad. Market will not move as per that , if it did many people will have the edge and many people will win, but that is not possible because you need someone to take your offer on the other side. Institution do not care about what kind of news it is , only that news moves the price faster on its journey.

So do not base your strategies on the outcome of news. Institutions will get you all the time.

if you know how price is moving and you know its destination, trade accordingly and if you cannot make out the direction stay out of trades during news.

I hope many newbies thinking the outcome of news decides the direction of price will learn from this post.

I m posting this because i see many posts where newbies/traders think they can know the direction of price depending on the outcome of news and lose big time. But it does not work that way. Market already knows its direction before the news and market will continue on its journey irrespective of outcome of news , only thing is it gets a nitro boost...

if you don't believe me , let me show you the path. Crude is currently in a descending triangle on daily and after the news it is only doing what it is supposed to do, i.e move inside the descending triangle, until breakout. At the time of writing this post , current market price is 6086 and should reach 6050 for feb contract. I don't know when it will reach , could be today or tomorrow. Price was already in this path before the news came out and it is speeding up now...

Hope this post makes sense.

 

[Tamil trader]

Dear throwawayacc123

I am purely trading with technicals.

I am not trading based on news

News given in this thread is just for informative purpose only

I have my own set up strategy for my trading. I didnot give any call based on news

If you need more explanation,

Please read my thread " Crude oil is a human"

 

[mkandasa]

For your second trade, Whats the stoploss?