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

#11
Crude opened flat, a few cents up but I see no real direction as per the open. Hope mcx open will define the trend but not hopeful to be honest.

Weekly, daily, 4 hours, 1 hour all kind of sideways at open as per my analysis.

No worries though as there are good trades for the taking on smaller time frames even in flat conditions.

Hope the week goes well for everybody.

My basis for the analysis as below.

20 ema defines short term trend.
50 the medium term and 200 the long term.

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#12
tough day, lol. scalped just some 12 points net so far. waiting for crude to break anyside. the brokerage goes heavy due multiple trades which is a big drawback of scalping, more so when it is sideways. but as long as there is something left over it is ok i guess, no choice but to be happy ;)

it will break sometime, just need patience - bollinger squeeze has been on for long now.
any crude scalpers out here ?
 

pannet1

Well-Known Member
#13
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.
- you are doing good.
- don't listen to me, but try to reduce the leverage as much as possible.
- compared to the loosing day, the winning days looks great.

i don't believe in words discipline, overtrading, etc. it is the ability to go with the direction of the market that all matters, rest is with money management and lowest possible leverage.
 
#14
ok, the break finally did occour and I stopped trading after the same. Shut terminal 1630.

Thanks pannet1, sound advice. I tend to over-leverage myself. I plan to cut down to lots that I can afford on nrml which is 2 I guess as of date.

Garnered some 38 net points for the day. Let me see how the rest of the week goes.

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pannet1

Well-Known Member
#15
cool !

here comes the difficult part. post us on what basis you enter and exit. it is difficult for me because i trade more and marking them in the chart looks like a tedious task.

ok, the break finally did occour and I stopped trading after the same. Shut terminal 1630.

Thanks pannet1, sound advice. I tend to over-leverage myself. I plan to cut down to lots that I can afford on nrml which is 2 I guess as of date.

Garnered some 38 net points for the day. Let me see how the rest of the week goes.

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afin

Rocky Mountain Doomsday Guy
#16
Neat thread man! All the best with your trading :) I will be watching this thread with intent and interest :)
 

afin

Rocky Mountain Doomsday Guy
#17
Crude opened flat, a few cents up but I see no real direction as per the open. Hope mcx open will define the trend but not hopeful to be honest.

Weekly, daily, 4 hours, 1 hour all kind of sideways at open as per my analysis.

No worries though as there are good trades for the taking on smaller time frames even in flat conditions.

Hope the week goes well for everybody.

My basis for the analysis as below.

20 ema defines short term trend.
50 the medium term and 200 the long term.

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Do you always use the 15 min TF? Have you considered using the 1 hour time frame too? I saw that crude reads good on these TFs better.
 
#18
Neat thread man! All the best with your trading :) I will be watching this thread with intent and interest :)

thank you. was into a lot of stuff like fibs, elliot waves etc but realized much later that i have a small brain and can process limited info :eek:. find bollinger enough to trade if i understood the bands well. added williams for safety. let me see if i can sustain long term with this set up.
 
#19
Do you always use the 15 min TF? Have you considered using the 1 hour time frame too? I saw that crude reads good on these TFs better.

higher tf is always better, safer and much clearer. below 1 hour you have a lot of noise to deal with. the only reason i do the 1/3/15 min is that by nature i scalp so these suit me better and also because the stop loss on higher tf is larger than what i use now. with bigger capital it makes more sense to trade higher tf's.

yes, you are spot on when you say that you can read the trend better on higher tf's.
 

afin

Rocky Mountain Doomsday Guy
#20
thank you. was into a lot of stuff like fibs, elliot waves etc but realized much later that i have a small brain and can process limited info :eek:. find bollinger enough to trade if i understood the bands well. added williams for safety. let me see if i can sustain long term with this set up.
higher tf is always better, safer and much clearer. below 1 hour you have a lot of noise to deal with. the only reason i do the 1/3/15 min is that by nature i scalp so these suit me better and also because the stop loss on higher tf is larger than what i use now. with bigger capital it makes more sense to trade higher tf's.

yes, you are spot on when you say that you can read the trend better on higher tf's.
This is great. I started to trade from 2015 onwards and didn't end in green for 1 year too and the reason was quite simple - I didn't stikc to one method or one indicator. And truth be told, I was very much in a learning phase still. To each his own. Your method is yours alone since you have put in so much effort into it and have found comfort with it.
 

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