Crude oil scalping diary - TMA style

[bashasm]

Forgot about winning habits or discipline...

Very basement is money management , where you are risking 10% per trade , untill u correct this nothing could be improved...

I understand, but I thought I can make it up with just 1Lakh by trading 10 Lots, I think I should have traded 1 Lot, that would have been 1% rule.

I lost 28k on my 1Lakh Capital, considering the risk I took, that was not a huge loss, if at all I have traded 1 Lot, my overall loss would be 2.8k instead, I guess that is where MM protects the capital.

I have withdrawn the capital, to avoid further losses, I will reload with 1Lakh capital and try to follow the 1% rule, one more problem is trying to avoid trading with huge lots, that would be another problem with the discipline.

 

[TraderRavi]

How did you overcome this habit of averaging?

In my small experience, one loss will change my behavior and I eventually end up taking more loss or do some sort of gambling

I don't know how many people would take every trade as a unique opportunity

In my case, I should have continued trades even after my heavy losses, as losses and profits are bound to happen, there is no particular order. But the emotional pressure when there is a huge loss is unavoidable.

To add insult to injury, office and family pressures, keep oneself from getting the success. But at the end of the day, it is one's destiny to get the success, no Excuses shall stop him in the way.

No easy solution , I still average sometimes.

 

[gautam7821]

I understand, but I thought I can make it up with just 1Lakh by trading 10 Lots, I think I should have traded 1 Lot, that would have been 1% rule.

I lost 28k on my 1Lakh Capital, considering the risk I took, that was not a huge loss, if at all I have traded 1 Lot, my overall loss would be 2.8k instead, I guess that is where MM protects the capital.

I have withdrawn the capital, to avoid further losses, I will reload with 1Lakh capital and try to follow the 1% rule, one more problem is trying to avoid trading with huge lots, that would be another problem with the discipline.

This is not about 1% rule , but risk reward ratio.
You win : Rs 4
You loss : Rs 10

For one loss you need 3 winning trades to break even ( including taxes). That's the problem. if your target is above Rs. 20 , and your system gives good winning ratio, then risking 10% of capital is no problem.

 

[bashasm]

This is not about 1% rule , but risk reward ratio.
You win : Rs 4
You loss : Rs 10

For one loss you need 3 winning trades to break even ( including taxes). That's the problem. if your target is above Rs. 20 , and your system gives good winning ratio, then risking 10% of capital is no problem.

Nope my risk reward is not like that
Here I might have lost more trades, if I continued I would've made money
Why will I risk 10rs for 4rs
Also I am not targeting fixed points, as I feel I can get more reward by trailing

 

[gautam7821]

Nope my risk reward is not like that
Here I might have lost more trades, if I continued I would've made money
Why will I risk 10rs for 4rs
Also I am not targeting fixed points, as I feel I can get more reward by trailing

I just mentioned it as I saw you booked profit @4 points keeping Sl @10.
Now I get it.

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.

todays first trade, entered in a hurry at the end of this red candle, and booked 4points with 20 Lots, profit 8k

 

[bashasm]

If it not Rs. 4 then OK .
I saw you booked profit @4 points keeping Sl @10.

Yes I was trailing the stop, the reason for that in the past I exited at 10/20 points and the price went 100points in my direction, so I want to trial

Of course I am yet learning so I'm doing this by trial basis

The money management as per my understanding is it gives you a chance to take 100 or 1000 trades, if you risk 10percent then let's say you have all loosing trades then your capital will be gone

There is nothing wrong in losing 10percent per trade, that should depend on the person

Lastly, I'm experimenting things and I will need to improve