Tamil Trader Crude oil Diary Live Updates

[Cubt]

TT Sir, Same trade, exited with a profit on the opening candle at the high of the day. As crude was trading slightly -ve internationally, the chances of crude going higher on MCX seemed less likely. With due respect, consider the following : Be willing to give up a part of the profits, upto 1/3rd or even 1/2, but never let a profitable trade turn into a loss.

Also, considering crude was trading -ve internationally, and intraday chart was weak, it seemed crude was a short soon after open. However, on 5 Day, 5 Minute chart, crude was a buy. As these were contradictory signals, did not short.

Again thanks for your post and updates.... Just my small bit of feedback, which hope helps you be more profitable.

A useful quote from Mark Douglass's Book - The Disciplined Trader : Be rigid with rules, BUT BE FLEXIBLE WITH TARGETS. If the market indicates more probability of the trade moving against us, it is better to exit, or adjust the stop loss in our favor.

Very neat write up! But when we trade based on signals we become more disciplined, when we mix up our analysis with signals we may end up with unwanted trades. In my point of view, am much more comfortable in taking loss by being disciplined rather than making profits by contradicting with our own rules.

I understand your point that its wise to exit profitable position by breaking our rules at certain times and I do follow that only If my position is profitable more than 200 points, if not I just follow the system blindly.

 

[VJAY]

TT Sir, Same trade, exited with a profit on the opening candle at the high of the day. As crude was trading slightly -ve internationally, the chances of crude going higher on MCX seemed less likely. With due respect, consider the following : Be willing to give up a part of the profits, upto 1/3rd or even 1/2, but never let a profitable trade turn into a loss.

Also, considering crude was trading -ve internationally, and intraday chart was weak, it seemed crude was a short soon after open. However, on 5 Day, 5 Minute chart, crude was a buy. As these were contradictory signals, did not short.

Again thanks for your post and updates.... Just my small bit of feedback, which hope helps you be more profitable.

A useful quote from Mark Douglass's Book - The Disciplined Trader : Be rigid with rules, BUT BE FLEXIBLE WITH TARGETS. If the market indicates more probability of the trade moving against us, it is better to exit, or adjust the stop loss in our favor.

:thumb::thumb::thumb::clapping:

 

[Tamil trader]

TT Sir, Same trade, exited with a profit on the opening candle at the high of the day. As crude was trading slightly -ve internationally, the chances of crude going higher on MCX seemed less likely. With due respect, consider the following : Be willing to give up a part of the profits, upto 1/3rd or even 1/2, but never let a profitable trade turn into a loss.

Also, considering crude was trading -ve internationally, and intraday chart was weak, it seemed crude was a short soon after open. However, on 5 Day, 5 Minute chart, crude was a buy. As these were contradictory signals, did not short.

Again thanks for your post and updates.... Just my small bit of feedback, which hope helps you be more profitable.

A useful quote from Mark Douglass's Book - The Disciplined Trader : Be rigid with rules, BUT BE FLEXIBLE WITH TARGETS. If the market indicates more probability of the trade moving against us, it is better to exit, or adjust the stop loss in our favor.

Yes you are correct.

If we simply trade on signal to signal basis on 30 minutes times frames, profit is always possible on every month end,

Actually, i also exited in a profit today morning as the morning was positive gap up, and global centiment was very weak. this could be done for personal account. because i take full risk for my account. but in this public forums, number of trades per month should be very low. so trading on signal to signal basis will give good and decent profit every month for traderji members.

If i speak more technical concepts for exit the trade, some newbies and chart followers will confuse more. so i am giving the calls on major trend reversal only.

I think about your suggestion. in future, i will give some extra inputs from me. thanks for suggestion.

Regards
Vinoth for winning
Tamil Trader

 

[VJAY]

Yes ...as cubt mentioned if we have rules for exits then no hesitation ....but in swing trades you need a good exit method,,,otherwise miss good big moves...as taking reentry with trend is most dificult one....This is my personal view which I experienced in my BNF trades

 

[VJAY]

Yes you are correct.

If we simply trade on signal to signal basis on 30 minutes times frames, profit is always possible on every month end,

Actually, i also exited in a profit today morning as the morning was positive gap up, and global centiment was very weak. this could be done for personal account. because i take full risk for my account. but in this public forums, number of trades per month should be very low. so trading on signal to signal basis will give good and decent profit every month for traderji members.

If i speak more technical concepts for exit the trade, some newbies and chart followers will confuse more. so i am giving the calls on major trend reversal only.

I think about your suggestion. in future, i will give some extra inputs from me. thanks for suggestion.

Regards
Vinoth for winning
Tamil Trader

Dear TT,
If possible avoid this coloured fonts in your posts....too irritating to eyes....don't take otherwise...

 

[Tamil trader]

Current Resistance for nymex crude is 108 $

 

[Cubt]

Yes ...as cubt mentioned if we have rules for exits then no hesitation ....but in swing trades you need a good exit method,,,otherwise miss good big moves...as taking reentry with trend is most dificult one....This is my personal view which I experienced in my BNF trades

Vijay, could u pls ur exit strategy that u follow for bank nifty? I would be glad to learn from it if it helps.

Like how do u exit a profitable position?
If ur holding position started making U turn after ur entry, how do u tackle it?

Hope our discussion would help others as well.

 

[Tamil trader]

Dear TT,
If possible avoid this coloured fonts in your posts....too irritating to eyes....don't take otherwise...

Mr.Vijay sir, which color is your favourite color?

 

[Cubt]

Mr.Vijay sir, which color is your favourite color?

Ha..ha,,ROFL !

 

[Tamil trader]

Ha..ha,,ROFL !

What is John Paulson's Favourite Color?