Monkey King's Oily Tales (Day Trading Crude Oil)

[Monkey King]

hi all,

start date of this journey - 12 june 2019

capital - 89,545 - used Monday and Tuesday for some final tuning,

risk - 4 % per day max (very high i realize but i need this much as per my trading style and past log analysis/review).

max lots - whatever i can afford on MIS minus some cash so i do not get a margin call during a trade, ( eg, i consider 30 k as 1 lot on MIS as on date)

profit target - none, whatsoever handed out by the markets is good enough

type of trading - intraday, scalper by nature

chart set up - trading charts 1/3 min ref charts 3/15 min.

experience of trading - 2 years of part time, now diving into this full time

chart tools - bollinger bands (default except for exponential) and williams R % (set to 20 to compliment bollinger)

my weakness in trading - big list , need a full thread - lol. but yes, working on them one by one

was to post this on Tuesday night but got delayed by quite a bit.

let me see how things pan out now that the journey has begun

this is how my chart looks like

 

[Riskyman]

Jai Hanuman ji ki!! Good luck Monkey Bhai!

 

[Riskyman]

Oh dear!!!! I got confused between Monkey king and @monkeybusiness .
Anyways good luck @Monkey King

 

[pannet1]

hi all,

start date of this journey - 12 june 2019

capital - 89,545 - used Monday and Tuesday for some final tuning,

risk - 4 % per day max (very high i realize but i need this much as per my trading style and past log analysis/review).

max lots - whatever i can afford on MIS minus some cash so i do not get a margin call during a trade, ( eg, i consider 30 k as 1 lot on MIS as on date)

profit target - none, whatsoever handed out by the markets is good enough

type of trading - intraday, scalper by nature

chart set up - trading charts 1/3 min ref charts 3/15 min.

experience of trading - 2 years of part time, now diving into this full time

chart tools - bollinger bands (default except for exponential) and williams R % (set to 20 to compliment bollinger)

my weakness in trading - big list , need a full thread - lol. but yes, working on them one by one

was to post this on Tuesday night but got delayed by quite a bit.

let me see how things pan out now that the journey has begun

this is how my chart looks like

View attachment 35470

how to live with a return of 85K. Do you have any other source of income.

good luck to you.

 

[Monkey King]

day 001 - 12/june 2019

 

[Monkey King]

Day 002 -

 

[Monkey King]

Day 003 -

 

[Monkey King]

Jai Hanuman ji ki!! Good luck Monkey Bhai!

Thank you, yes, need luck in tons, lol.

 

[Monkey King]

how to live with a return of 85K. Do you have any other source of income.

good luck to you.

No other source of income as from date. Going full time and all out. Have some capital but will not invest right now. I am confident of making a decent amount with this capital. Let me watch for sometime for consistency which is the key.

 

[Monkey King]

Ended day 003 and week with 10 k.

Messed up today, overtraded and was a see saw day. Was up 5400 by noon but kept trading and lost it all and some more.

Deciding to cut down to 1 lot once I cross 5000 for the day next week unless I can come up with something better.

Another flaw is that I trade most of the day from the phone and go to the beach or drive up some mountain, lol. Must learn to park myself in front of the desktop.

My list of flaws are endless, lol. Must correct these asap.

Overall, not a bad week I guess. Let me see how the next one goes.

The first 12 weeks will be very crucial, after that I will have a comfort zone to trade lots on delivery and not mis like I do now. For now though, the ride and road is a bumpy one ahead.

Only ending the week on a plus is my concern as I have allowed for 1 bad day a week when I lose some 5000 or so and 1 breakeven day. Cannot afford less than 3 winners a week at this stage. At least 1 day must at least touch 5000 profit for me not to go red for the week.

Lol, I do not plan too hard though. Markets hit the best plans the hardest. As long as the week ends in some 5000 plus for now, I am happy. If I end the week in red, well - I will have to force myself to be happy, lol

Whatever happens, cannot let trades dictate my mood. Been there, done that. 2 years taught me a lot.

Good luck next week to all