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

[Tamil trader]

For your second trade, Whats the stoploss?

6060 is the stop loss on 30 minutes closing basis

Target is open ... may be above 6350

But i will intimate at the time of profit booking. if it goes below 6060, We need to go short again by booking the loss in the second trade also

 

[Tamil trader]

Crude current high is 6182........ My long entry is from 6140

If crude breaks 6200 and holds above that level, we can see 6320 with two or three days

 

[mkandasa]

80 points stop loss? . 8% of the capital being risked in one trade? Have you backtested your strategy? if so what is the maximum loss in one trade?

Thanks for your prompt reply and for your other thread "Crude oil is a human"

 

[shreeux]

6060 is the stop loss on 30 minutes closing basis

Target is open ... may be above 6350

But i will intimate at the time of profit booking. if it goes below 6060, We need to go short again by booking the loss in the second trade also

Iam newbie...as per my circumstance every one trade in Crude only...I am also like to trade in Crude...but not aware of Price Action....so just watch you thread and price levels......

Also watch your other thread (Tamil Trader Commodity Signals and News Updates)

Congrats of this new thread...

Which chart did you use 30min timeframe...

and

Which indicator did you use for buy/sell....

 

[Tamil trader]

80 points stop loss? . 8% of the capital being risked in one trade? Have you backtested your strategy? if so what is the maximum loss in one trade?

Thanks for your prompt reply and for your other thread "Crude oil is a human"

I have backtested my strategy.

Maximum loss will be 80 to 120 points per trade

But during the trending market, we can catch full movement more than 300 to 400 points in a single trade also

It is purely a trend following system

 

[Tamil trader]

Nymex Crude holds above 98 $ strongly which shows bullish trend

Current price is 98.40

It needs to break 98.80 again

97.60 is the current support now

 

[Tamil trader]

INR is going down in international market

So Crude is also going down slightly

But Nymex crude is not much down.. still trades strongly in the bullish zone

 

[Tamil trader]

Today i did not get sell signal below 6066

So still i am holding same long position

now INR and Nymex crude both go down

Let's see how the market opens tomorrow morning

 

[Tamil trader]

Crude opened 20 points positively

INR is currently supporting long position

But now hurdle is 6130

if breaks above 6130 , it is the good sign for bulls again

if breaks below 6066, it is the good sign for bears again

Lets see what happens

 

[Tamil trader]

SL Not Hit

6060 was the stop loss for my long position at 6140

Today low is 6050

But 30 minutes chart did not close below 6060 at any time... so still i am holding the same long position

current price is 6120