Crude oil scalping diary - TMA style

bashasm

Active Member
#1
From today I will post my scalping trades in Crude Oil with Mega Lots
Initial Capital: Rs. 1,12,604.13
Trading Style: Tukka Maru Association aka those trade on gut feel only, but will also use some technical analysis
Time frame: 1/5 minutes
Trading Terminal: Fyers web
 
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bashasm

Active Member
#2
First, sell entry triggered around the red candle middle and trailed the stop loss to the top of the next red candle, got only 4 points i.e 4k profit by selling 10 Mega Lots.
Always I had a problem with early exit so trailed the stop loss to the candle top as indicated by the yellow horizontal line
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gautam7821

Well-Known Member
#3
How do you calculate SL and target ?
 

bashasm

Active Member
#4
How do you calculate SL and target ?
SL based on previous swing high/low or based on the previous candles or maximum of 10 points
no fixed target, as in the past I have missed good moves by keeping fixed target of 10 points, also I am using cover orders so can't have fixed target orders
 

gautam7821

Well-Known Member
#5
SL based on previous swing high/low or based on the previous candles or maximum of 10 points
ie SL just .25% . Does it ever happen that SL hit and price come back in your favour ?
 

bashasm

Active Member
#6
Bought 10 lots at 3970 and stop loss below previous low
Stop loss hit and the over all loss is now -5k

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bashasm

Active Member
#8
My head is messed up, traded up and down trying to catch every swing, but all my entries were late LOL
Finished the day in 9,240 profit, but I guess more than 5 thousand will go in charges, I will check back after some time, now I am trading without even gut feel LOL
My foolish trades today
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bashasm

Active Member
#9
Crude is really crazy today, see the spikes in 1 min, I was lucky that I got the spike in my direction LOL, ended the day in 29k profit, otherwise it will end my account it seems
Will check tomorrow how much charges will eat my profit, as I traded with 20 Lots multiple times.

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gautam7821

Well-Known Member
#10
You are taking too much risk quantity wise , I can't handle that much pressure as of now.
Happy scalping.
 

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