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

[pannet1]

Long @ 4110 just now, let me see.
Plan to hold a while, positional.

Entry as 20/50 ema crossover on ctf 15 min (ref ctf 1 hr bullish), sl will be tsl below 50 ema as positional

did you exit the Long or it is positional now.

 

[Monkey King]

did you exit the Long or it is positional now.

no, i exited @ 4124 as i did not sense the surge in the bulls. lucky me as it did not really move up but after mcx close bears took over.

 

[Monkey King]

monday onwards i have set up a long term planned goal for the next 200 trading days, the end target is just an inspiration and not an end by itself.

taking it step by step. like the hikers do in mountaineering, , only priority is to reach base camp 1 for now.

trading will be just a part of life and not life itself. if day target achieved then use trailing stop loss and shut terminal in a sense for the day.

capital is 35000 and will go in with 10 mini lots on mis
day target will be 12 points after which will trail stop loss if there is a chance open to do so, or else book 12 points. i will not amend this target and let the mis auto expire if i trail stop loss.
day stop loss will be the same ie 12 points after which the terminal is shut down. ie, the risk /reward is 1:1. i am banking on the basis/assumption that my win/loss ratio will not dip below 70/30.

aim is to book 12 points per lot on an average per day which seems reasonable to me as per my past records.

i have set aside expense money for the next 6 months so i do not have any pressure to generate monthly income from day trading.

the next week i need 60 points net overall to achieve my target and reach base camp 1,

if i can reach 60 points by the end of the week it will be a first step taken towards the goal.

let me see if this can be reached,

1 Mon, Jul 1, 2019 1,050.00 36,050.00
2 Tue, Jul 2, 2019 1,081.50 37,131.50
3 Wed, Jul 3, 2019 1,113.94 38,245.44
4 Thu, Jul 4, 2019 1,147.36 39,392.80
5 Fri,, Jul 5, 2019 1,181.78 40,574.58


let us see and if anyone wants to join in it would be great going together. all you need is the confidence and proof of your own ability to make at least 12 points per day per lot. i will reveal the targets week by week so the overall picture does not get intimidating.

flag off is on monday so feel free to join in if you feel like trekking along the monkey,

 

[pannet1]

monday onwards i have set up a long term planned goal for the next 200 trading days, the end target is just an inspiration and not an end by itself.

taking it step by step. like the hikers do in mountaineering, , only priority is to reach base camp 1 for now.

trading will be just a part of life and not life itself. if day target achieved then use trailing stop loss and shut terminal in a sense for the day.

capital is 35000 and will go in with 10 mini lots on mis
day target will be 12 points after which will trail stop loss if there is a chance open to do so, or else book 12 points. i will not amend this target and let the mis auto expire if i trail stop loss.
day stop loss will be the same ie 12 points after which the terminal is shut down. ie, the risk /reward is 1:1. i am banking on the basis/assumption that my win/loss ratio will not dip below 70/30.

aim is to book 12 points per lot on an average per day which seems reasonable to me as per my past records.

i have set aside expense money for the next 6 months so i do not have any pressure to generate monthly income from day trading.

the next week i need 60 points net overall to achieve my target and reach base camp 1,

if i can reach 60 points by the end of the week it will be a first step taken towards the goal.

let me see if this can be reached,

1 Mon, Jul 1, 2019 1,050.00 36,050.00
2 Tue, Jul 2, 2019 1,081.50 37,131.50
3 Wed, Jul 3, 2019 1,113.94 38,245.44
4 Thu, Jul 4, 2019 1,147.36 39,392.80
5 Fri,, Jul 5, 2019 1,181.78 40,574.58


let us see and if anyone wants to join in it would be great going together. all you need is the confidence and proof of your own ability to make at least 12 points per day per lot. i will reveal the targets week by week so the overall picture does not get intimidating.

flag off is on monday so feel free to join in if you feel like trekking along the monkey,

just one thing, remove the time line, target is fine. it is said by my mentor, that when you particularly publicize your time based target, you are putting yourself under pressure to win everyday. We cannot force a particular sum from the market everyday. Imagine just one red day. I am not wishing for it. Just saying. Ignore if irrelevant.

Otherwise targets are way to go. This is important because we want to plan our next lot size increase. You could increase aggressively or slowly, thats up to us. The sole reason on why we are in trading business is because we could compound when we are winning.

 

[pannet1]

no, i exited @ 4124 as i did not sense the surge in the bulls. lucky me as it did not really move up but after mcx close bears took over.

yes. Lucky you!

i have 1 mini lot long. Let me see on monday.

 

[Monkey King]

just one thing, remove the time line, target is fine. it is said by my mentor, that when you particularly publicize your time based target, you are putting yourself under pressure to win everyday. We cannot force a particular sum from the market everyday. Imagine just one red day. I am not wishing for it. Just saying. Ignore if irrelevant.

Otherwise targets are way to go. This is important because we want to plan our next lot size increase. You could increase aggressively or slowly, thats up to us. The sole reason on why we are in trading business is because we could compound when we are winning.

True, breaking up targets is the best. Yes, just got to focus on the day. Just posted weekly so that I will not relax if a juicy move comes up on Monday in case day target is luckily met.

 

[Monkey King]

yes. Lucky you!

i have 1 mini lot long. Let me see on monday.

Technically you were right to hold on as it did not show reversal. My exit was due to the fact that I chickened out and put a stop loss at 4124 (12 points in pocket) and left it. A while later it got triggered.

Crude most times throws technicals out of the window which is frustrating.

I really hope for your sake that it opens gap on Monday and breaks that 4140.

Good thing is the overall news from opec is still on the bullish side. Once it shoots over your entry I hope you trail your stop loss untill at least the break of 4160 convincingly.

 

[Deelipenergy]

Crude closed below 58 $. So it should open gap down around 4044-50. later it should catch up bullish trend.

 

[Deelipenergy]

monday onwards i have set up a long term planned goal for the next 200 trading days, the end target is just an inspiration and not an end by itself.

taking it step by step. like the hikers do in mountaineering, , only priority is to reach base camp 1 for now.

trading will be just a part of life and not life itself. if day target achieved then use trailing stop loss and shut terminal in a sense for the day.

capital is 35000 and will go in with 10 mini lots on mis
day target will be 12 points after which will trail stop loss if there is a chance open to do so, or else book 12 points. i will not amend this target and let the mis auto expire if i trail stop loss.
day stop loss will be the same ie 12 points after which the terminal is shut down. ie, the risk /reward is 1:1. i am banking on the basis/assumption that my win/loss ratio will not dip below 70/30.

aim is to book 12 points per lot on an average per day which seems reasonable to me as per my past records.

i have set aside expense money for the next 6 months so i do not have any pressure to generate monthly income from day trading.

the next week i need 60 points net overall to achieve my target and reach base camp 1,

if i can reach 60 points by the end of the week it will be a first step taken towards the goal.

let me see if this can be reached,

1 Mon, Jul 1, 2019 1,050.00 36,050.00
2 Tue, Jul 2, 2019 1,081.50 37,131.50
3 Wed, Jul 3, 2019 1,113.94 38,245.44
4 Thu, Jul 4, 2019 1,147.36 39,392.80
5 Fri,, Jul 5, 2019 1,181.78 40,574.58


let us see and if anyone wants to join in it would be great going together. all you need is the confidence and proof of your own ability to make at least 12 points per day per lot. i will reveal the targets week by week so the overall picture does not get intimidating.

flag off is on monday so feel free to join in if you feel like trekking along the monkey,

10 minilots with 35000 capital base will not support money management. 3-4 continous stoplosses ( 12 points) will make a psychological damage which will create pressure and anxiety.
Focus more on execution of your trade as per plan rather than target or time constraint.

 

[Monkey King]

Crude closed below 58 $. So it should open gap down around 4044-50. later it should catch up bullish trend.

As of now I am on the sidelines no position. Will watch how it opens and wait for a signal. Let us see what this funny crude does, a few minutes from finding out. Nearly half past three.

I could be wrong but feel it will be a gap up, waiting to see how wrong I am