Trading Challenge - 1 (Crude oil - 1.75 L to 1 Cr in 300 trading days)

#11
Other than scalping which I am kind of comfortable with I have been working on a strategy towards swing trading of late. It is simple and straight forward but being a scalper mentally I find it tough to hold beyond 6 to 8 points.

That is the reason I chose metal mini lots as an option as I can hold positional if required without losing sleep.

Crude generally is traded in the evening session and I find that base metals are a good way to test the swing trade strategy.

Being Wednesday i will have ample time before eight today. So I may try my hand at that for a trade should the signal come up.

If it works well fine, else I have my scalping to fall back on. After 100 trades or so I should know if it's working.

Today I will get into my aggressive scalping mode nevertheless. I start slow usually and Wednesday onwards I shift gears until Friday.

Let's see how the day goes, inventory generally is the day I make the bulk of my gains , so fingers crossed.
 
#13
4 points without brokerage or with brokerage?
After brokerage 5x4= Rs 1430 per trade and Rs. 1430x3 = 4230 per day. Right?

you are spot on - yes.

brokerage and taxes work out to 1.3 points on 5 lots approx or say 600 rs per trade ie in and out. yes it is approx net profit of 1430 per trade after deductions. i was used to 6 points gross as per my win/loss ratio but now i am going in for 4 points as i have trimmed the win loss down to 4 now. if PB shows signs of a stall i am out with whatever is on the table , if they spike or move in my favor i try and take 6.

i usually am not shy of generating brokerage as long as it comes from my profits like any other scalper. when aggressive and if market conditions favourable then it is close to say 10 - 15 scalps on an average per day. so i have reduced target/stop loss as my trades have increased.

this way another big advantage is that if required i can scalp during the non trending or quiet period and avoid the volatile segments of the day. i do not generally exercise that option usually but it is always there for the taking.

the beauty of scalping small to me is two fold - you never win big, so no overconfidence/ego issues and you sometimes lose small which does not dent the confidence/account. log in, get set - trade - virtually anytime and any market condition, lol
 

primitivetrader

Well-Known Member
#14
roughly yes. brokerage and taxes work out to 1.3 points on 5 lots approx or say 600 rs per trade ie in and out. yes it is approx 1430 per trade. i was used to 6 points gross as per my win/loss ratio but now i am going in for 4 points as i have trimmed the win loss down to 4 now. if PB shows signs of a stall i am out with whatever is on the table , if they spike or move in my favor i try and take 6.

i usually am not shy of generating brokerage as long as it comes from my profits like any other scalper. when aggressive and if market conditions favourable then it is close to say 10 - 15 scalps on an average per day. so i have reduced target/stop loss as my trades have increased.

this way another big advantage is that if required i can scalp during the non trending or quiet period and avoid the volatile segments of the day. i do not generally exercise that option usually but it is always there for the taking.

the beauty of scalping small to me is two fold - you never win big, so no overconfidence/ego issues and you sometimes lose small which does not dent the confidence/account. log in, get set - trade - virtually anytime and any market condition, lol
excellent thought process. bingo! scalper mind set up. great going sk
 
#15
excellent thought process. bingo! scalper mind set up. great going sk
thank you.

you are basically what you are. i was at sea so we act instantly and do not stop to think in an emergency. each trade is an emergency so i cannot change that animal instinct drilled into me, lol. lived by endless checklists for 2 decades and more so the trade-plan is something akin to a holy book now. do not break any rule easily by default.
i like scalping which helps and also it suits my temperament to the T, i also do realize that at some stage i will have to learn to swing trading or trend trading and i am working on my weakness there. sadly, my strength as a scalper are a weakness in that domain, - at least for now, lol.

wish you good trading
 
#16
day 003 -

just entered a buy in lead (1 lot) - main towards swing trade / intraday @ 144.15 @ 1030 hrs approx
edit - added another long @ 143.65, so now holding 2 lots @ 143.90 - now i just have to be a non scalper and wait, lol
edit @ eod - (transferred the two lots position to short term holdings for now)

basis for entry -

2018-10-10 (1).png



first scalp crude - 5539.67 buy and 5544 sell - 4 points X 3 lots
second scalp crude - 5553 buy and 5562 sell - 5 lots X 9 points
third scalp crude - 5561 buy and 5564 sell - 5 lots X 3 points
fourth scalp crude - 5536 sell and 5533 buy - 3 lots X 3 points (entry and exit were market so i lost 2 points, lol)
fifth scalp crude - 5542 buy and 5547 sell - 5 lots X 5 points
sixth scalp crude - 5525 sell and 5517 buy - 1 lot X 8 points (had no time to feed in lots so default 1 lot triggered, lol)
seventh scalp - 5513 sell and 5509 buy - 5 lots X 4 points
eight scalp crude - 5491 sell and 5486 buy - 5 lots X 5 points
nine scalp crude - 5563 sell and 5559 buy - 5 lots X 4 points

tenth scalp crude / trading ceased as per TP due loss = 5442 sell 5451.6 buy - 5 lots X 9.6 points

shutting shop for the day. overall i think profit booked is approx 9400/- . not a bad day, need a good night sleep now.
 
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goldenedge

Well-Known Member
#17
Really interesting. I know trading with a goal like this NEVER works but I looked at your strategy from your other threads and realized that it can indeed be possible with that scalping system of yours if you do it right.

I'll keep an eye on this thread.



One thing you should always be careful about is not getting mentally burned. Try doing this for 1 month and you'll lose your sanity with the amount of pressure. So, my suggestion is that you assume that it's gonna happen and figure out a strategy to deal with it right now itself.
 
#18
Really interesting. I know trading with a goal like this NEVER works but I looked at your strategy from your other threads and realized that it can indeed be possible with that scalping system of yours if you do it right.

I'll keep an eye on this thread.

One thing you should always be careful about is not getting mentally burned. Try doing this for 1 month and you'll lose your sanity with the amount of pressure. So, my suggestion is that you assume that it's gonna happen and figure out a strategy to deal with it right now itself.

so very true goldenedge,

the first time i tried to double my account in 20 days too i fell short. i made some 80% returns. i lost in a way. but, as long as i can hold my head held high i reckon it is worth sweating and bleeding for.

this is my only career now so i do not have an option. i have to excel here - push, kick or whatever but i have to keep moving forward.

yes, scalping is a burnout and that is the reason i am trying to branch out into swing or trend trading slowly.

thanks for the morale booster and yes - the challenge or whatever is just a byproduct. i am just pushing my limits and testing myself and my strategy in real hardcore fashion i guess.

after all i am not going to grow wings if i succeed or get nailed if i fail here. i too realize in the abyss of my very being that i will not make it. but i will do everything possible to try and reach the finish line - i just want to earn my own respect, stand on my feet after this beating that i know the markets will give me shortly.

my one and only edge is that i rarely lose a scalp - sometimes its scary the never ending small wins but i guess that is my edge. that is the only reason i am still alive, the reason i survive. i win very small and i lose even smaller - weird way to make my broker rich.

take care and thank you for your time and kind words. happy trading.
 

kingkrunal

Well-Known Member
#19
day 003 -

just entered a buy in lead (1 lot) - main towards swing trade / intraday @ 144.15 @ 1030 hrs approx
edit - added another long @ 143.65, so now holding 2 lots @ 143.90 - now i just have to be a non scalper and wait, lol

basis for entry -

View attachment 29380


first scalp crude - 5539.67 buy and 5544 sell - 4 points X 3 lots
second scalp crude - 5553 buy and 5562 sell - 5 lots X 9 points
third scalp crude - 5561 buy and 5564 sell - 5 lots X 3 points
nice thread.. and all the best .: )

doing a bit of scalping too with renko charts..
what value u use for intraday for renko price movement for any commodities ? I generally use the % for the cmp and set up renko for the intra
 
#20
@ScorpionKing great . If you don't challenge yourself then how will you grow. The Journey is important as it gives a learning always. I hope that you will share your journey troughtfully and will learn from your trades.
 

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