Swing Trading Crude Oil

[Saint]

My bad..i meant is it paper trading or you trade crude in real also like NF, BNF.
Now if paper trading, and you also trade crude in real then how are you balancing both.

Please elaborate on your money management plan (I am not able to understand anything on yr MM from what you have written) so that we can also learn.

Waiting With high hopes

I am holding 15lots now and will be adding upwards,but as per this diary,am holding 4lots......for beginners,guyz...please use percentage of capital....calculate using stop losses and etc etc that we will find on any site or forum.....it's good enough.

BlissC......as far as Money management is concerned....let us come to it in days to come......will unravel it slowly.....It is very simple,but a newcomer can take it and burn his capital with it.We will discuss it in due time.....do remind me though....

As far as balancing is concerned,please do ask Vjay and the others who know me from before........I tend to take on quite a lot.....of course,now I am much older,and my pace is much slower........

Do ask me more...love questions...and above all,love it when someone wants to learn something.......just wait up on the MM......We will discuss it soon.Nice talking to you,...

 

[Saint]

saint sir I do not understand, are we short or have we bought because your last comment about shorting 4 lots is not very clear

OH NO.........was talking about the first trade....LONGS is what I meant...need help..... :sos:

Sorry abt that.....that post was the completion of TRADE 1LONGS.....Thanks a lot Varun,yes now reentered longs....

Hmm..thank god in all this rush,I didn't place an order to go short .

Thanks again!!!

 

[Saint]

Will try ...but not realtime

Wow.... :clapping: ...a full bow to you,my friend.

Thanks...no,no need realtime...

 

[Saint]

Hi Saint,

We are in sideways in crude at the moment. Don't you think we should be waiting to take fresh position until the clear picture emerges.

Regards

When we get a broad range within an uptrend that is about to start off...we have 3 choices

a.Stay out of it till you get a clear break over this range.--------If you are doing this,allow it to pivot back to an area of support and buy the pullback and if not that confident,buy the breakout over the new pivot highs.

b.Trade the range-------Buy at Demand and Sell at Supply.
c.Trade the Trend-----Buy at Demand,and if it stops out,exit,....reenter when signals indicate a new buy and get aggressive over the range.

There really is no one ABSOLUTE right in the RELATIVE world of the Markets......any action you take from the above is correct. Just don't deviate from your plan of action midway unless of course that was your plan of action in the first place

Nice...and thanks for the charts....

 

[Saint]

Today the Brent crude oil fell and U.S. crude edged slightly higher in chopping trading on Monday as lackluster manufacturing data from the world's largest oil consumer was balanced by supply concerns over the Ukraine crisis and turmoil in Libya.

Nice...I don't look too much into news (not too much as in zero) but love to know what's happening....Thanks Shivani....... As far as NYMEX CRUDE is concerned......now back to 100.10 and holding up there........A close above 100.57 in NYMEX CRUDE MAY will be even sweeter......

 

[VJAY]

When we get a broad range within an uptrend that is about to start off...we have 3 choices

a.Stay out of it till you get a clear break over this range.--------If you are doing this,allow it to pivot back to an area of support and buy the pullback and if not that confident,buy the breakout over the new pivot highs.

b.Trade the range-------Buy at Demand and Sell at Supply.
c.Trade the Trend-----Buy at Demand,and if it stops out,exit,....reenter when signals indicate a new buy and get aggressive over the range.

There really is no one ABSOLUTE right in the RELATIVE world of the Markets......any action you take from the above is correct. Just don't deviate from your plan of action midway unless of course that was your plan of action in the first place

Nice...and thanks for the charts....

Grt and thanks for this 3 scenerios.....
So we here doing the 3rd scenerio .....waiting for the reveal of the game..but do it only slow and steadily

 

[starscream]

Wow 15 lots is my dream . I want to be able to trade those many lots some day with such a wide sl. Hats off saint. It shows Ur confidence in your system and trading .

 

[blisscapital]

Wow 15 lots is my dream . I want to be able to trade those many lots some day with such a wide sl. Hats off saint. It shows Ur confidence in your system and trading .

Even if you have money you need the mentality to book 4-5k loss per lot which means around 70-75k loss in one trade, Do we have the stomach for it, is the moot question

 

[Saint]

Even if you have money you need the mentality to book 4-5k loss per lot which means around 70-75k loss in one trade, Do we have the stomach for it, is the moot question

Yep,Bliss...finally it all comes down to that..... correct.

The only way you will be able to handle though a 75k stop loss and the mind accepts it as nothing, is when you make profits of 2lakhs and above as often.

Have a lot to say on this....but to be frank,a bit scared..... beginner traders can do something crazy.....and massive firepower will come in from those who don't have the stomach for it,in a bid to bring down something so that they can believe that something is NOT possible, not achievable, so that all is well in their tiny world, and good sleep awaits them in the nights.

But agreed with you on that though.......if you came across 1crore and you decided to trade with that as your capital,that does not mean you can take a 2lakhs stop loss per trade........you WILL do something crazy and something stupid.....Finally boils down to the stomach and the level and degree of insanity that you are willing to tolerate in your lives.

 

[Saint]

Grt and thanks for this 3 scenerios.....
So we here doing the 3rd scenerio .....waiting for the reveal of the game..but do it only slow and steadily

yep...3rd one....