Hi all,
Took a long break away from trading due personal reasons and now I will resume trading base metals and crude shortly.
The start capital will be about 1 L and I shall put up my trade analysis and results in the hope that I can be guided correctly by the seniors out here who have been immensly helpful in the past.
Capital - 1 L
Instrument - base metals and crude
Type - intraday with an occasional positional if trend strongly in favour.
Statergy - 3 ema's (20, 50 and 200)
Other indicators - none
Candles - normal but refer to heiken ashi at times
Risk per day - 5000 RS (metals from past experience require close to 0.5 RS per lot stop loss at least hence this figure)
Drawdown account - 20 % of account value but apply correction on touching day loss as below
Correction - any day that day loss triggered I stop and next day onwards trade mini lots till day loss recovered
Stop loss - area of last consolidation and if that exceeds day loss I skip the trade. For trailing stop loss I use dynamic ema of 20.
Take profit - none, trail stop loss manually or if it is a pull back depends on set up
Time frame - prefer 3/15/30 min depending on set up. Prefer 3 min by choice.
Trades - used to manage close to 5 a day roughly so expect the some now
Transferred 50 K yesterday so I may start today or latest by tommorow.
Hope I listed everything and look forward to really decent disciplined trading
That's all for now, untill I begin trading shortly.
Took a long break away from trading due personal reasons and now I will resume trading base metals and crude shortly.
The start capital will be about 1 L and I shall put up my trade analysis and results in the hope that I can be guided correctly by the seniors out here who have been immensly helpful in the past.
Capital - 1 L
Instrument - base metals and crude
Type - intraday with an occasional positional if trend strongly in favour.
Statergy - 3 ema's (20, 50 and 200)
Other indicators - none
Candles - normal but refer to heiken ashi at times
Risk per day - 5000 RS (metals from past experience require close to 0.5 RS per lot stop loss at least hence this figure)
Drawdown account - 20 % of account value but apply correction on touching day loss as below
Correction - any day that day loss triggered I stop and next day onwards trade mini lots till day loss recovered
Stop loss - area of last consolidation and if that exceeds day loss I skip the trade. For trailing stop loss I use dynamic ema of 20.
Take profit - none, trail stop loss manually or if it is a pull back depends on set up
Time frame - prefer 3/15/30 min depending on set up. Prefer 3 min by choice.
Trades - used to manage close to 5 a day roughly so expect the some now
Transferred 50 K yesterday so I may start today or latest by tommorow.
Hope I listed everything and look forward to really decent disciplined trading
That's all for now, untill I begin trading shortly.