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

#21
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.
sure, i will try and explain my reason for entering trades wherever possible.

hope you get my reasoning, tried to explain it as best as i could - this is the 3 min tf

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#22
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.
lol, we all bounce and jump around until the markets kick us black and blue. only then we realize and try to get serious. yes, learning never stops, not in day trading at least. nice to hear you are doing well now.
most of us have scary 'trading past', lol. seems funny when i look back now at the way i approached the markets just 2 years back. :rolleyes:
 
#23
first scalp trade of the day closed

went short as per my last post and exited earlier than plan due price stall and no momentum. booked just 12 points net roughly. was in at 3625 and out at 3620 - 3 lots
 
#24
Logging out of terminal. Some 32 points net. Might as well play the tortoise and be slow but sure, lol. Will log in later after us open and check for some clear trending move or else sleep early I guess.

Tough day and tough week. Crude is trading sideways and each point has been a hard fight today. Maybe inventory tommorow will set in a trend.
 
#26
How many lots was that? Did you use the Cover Orders?
 
#27
How many lots was that? Did you use the Cover Orders?
No, I never use cover orders. Trades were mostly with 3 lots and few 1 lot trades. (After I crossed 5000 net for the day).
Cover order is way too risky - at least for a beginner like me. In fact I want to go down to lots I can afford on holding unlike now where I buy max lots minus 1 lot on mis that I can afford.

I take micro profits so my trades are numerous. Today was maybe 12 trades approx (the 3 lot trade brokerage per trade is 250 odd)
 

pannet1

Well-Known Member
#28
this is very very good. don't call yourself a beginner.

No, I never use cover orders. Trades were mostly with 3 lots and few 1 lot trades. (After I crossed 5000 net for the day).
Cover order is way too risky - at least for a beginner like me. In fact I want to go down to lots I can afford on holding unlike now where I buy max lots minus 1 lot on mis that I can afford.

I take micro profits so my trades are numerous. Today was maybe 12 trades approx (the 3 lot trade brokerage per trade is 250 odd)
 
#29
this is very very good. don't call yourself a beginner.
To call myself a trader at this stage is way too early now, not now, not yet, not today - that is the truth.

A trader follows his trade plan and is consistent over a long period
a system needs at least 100 days of testing
one needs at least three years of consistent returns to be called a trader

I just began trading on the forum to put pressure on myself just a few days back. My sample size is too small.

A good trader captures at least 30 percent of the day move without breaking into a sweat at least 60 percent wins on his trading days,:rolleyes:, I sweat liters to make just a few points.

most guys on the forum will be 'traders' eventually i truly believe. one who works hard and puts in effort can only grow upwards eventually. most guys out here are already 'traders' and gems honestly. i read so many posts and i tell myself - these guys should be charging a fortune for the free teaching they do. i call them 'social workers' from whom i learnt so much out here. there is always someone to lift one up if things go wrong, always someone to guide you when you take the wrong route. trading is a lonely endeavor but for this forum i found that this problem has been addressed to the fullest by this forum.

let us grow together, that will be our true success. if we can help each other - we only improve ourselves. i really hope your trading is doing well.
 

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