Mastering the crude

[jetking]

dear all,

i am presently trading NIFTY intraday with a good success rate

now would like to try my hand in CRUDE

so starting this thread to test my method on crude

will be posting my real time paper trades along with the charts for one month,starting tomorrow

and if results are satisfactory than start with real money from next month onwards

method:

i am a firm believer of price action and KISS

using a 5 min T/F,plain chart,with some horizontal lines around visual pivots and trade around these lines
usually take a confirmation like pullback ,breakout fail , etc ,before taking an entry

suggestion,question,critics,are welcome

here i go........in my quest to master crude

 

[manjunnovates]

Nice bro, 5 min is the optimum tf for commodities, i feel. In addition to the pivot lines put atleast Previous day high, low and close as they are psychologial points. Also incorporating candle stick analysis is an added advantage. Make a note of the high probable trades. And the last thing is You know that, keep it as simple as its possible, you can always prioritize the SR lines and take trades accordingly or remove some to make it clutter free. The simpler you keep it, doesnt mean you make better profits but you'll make easier profits.

 

[jetking]

first trade

 

[jetking]

what a start................

sl triggered at 6105

 

[VJAY]

avoid trades inside vertical rally/decline...if trade in this range trade with current trend as per your method....also I noticed in crude Hrly pivots is very important as these points are strong dicissive points ...My views from my little experience in crude

 

[jetking]

trade2

 

[jetking]

update trade 2

exit half at 10 point profit

tsl as at 6103


edit: using two lots, exit first lot at > 5 points (during morning hrs,) and > 10 points,after evening hrs

exit 2nd lot as per price action /tsl

 

[jetking]

update trade 2

exit half at 10 point profit

tsl as at 6103


edit: using two lots, exit first lot at > 5 points (during morning hrs,) and > 10 points,after evening hrs

exit 2nd lot as per price action /tsl

moving the tsl to 6093

 

[jetking]

moving the tsl to 6093

tsl triggered at 6093

 

[jetking]