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I Wanna be a Professional Trader on Crude Oil Market


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I Wanna be a Professional Trader on Crude Oil Market

  #11 (permalink)
 
jackbravo's Avatar
 jackbravo 
SF, CA/USA
 
Experience: Beginner
Platform: SC
Broker: Stage 5
Trading: NQ...uh..ES actually
Posts: 1,337 since Jun 2014
Thanks Given: 4,362
Thanks Received: 2,400

Change your sim amount to 10000$ or whatever amount you plan to start with. See if you can make 4x original amount before you go broke in SIM.

Check out replay, which is SIM but faster

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"It does not matter how slowly you go, as long as you do not stop." Confucius
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  #12 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
Thanks Given: 111
Thanks Received: 149


jackbravo View Post
Change your sim amount to 10000$ or whatever amount you plan to start with. See if you can make 4x original amount before you go broke in SIM.

Check out replay, which is SIM but faster

Sent using the NexusFi mobile app

Thanks a lot for your suggestion, But that SIM Account got it from TopstepTrader Practice Account for 14 days as a free trail.
I 'm very proud and surprised to see the interaction of legendary icons, xplorer, rleplae, Blash, and jackbravo watching this new amateur trader's journal.

My sincere thanks to this all.

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  #13 (permalink)
 
jackbravo's Avatar
 jackbravo 
SF, CA/USA
 
Experience: Beginner
Platform: SC
Broker: Stage 5
Trading: NQ...uh..ES actually
Posts: 1,337 since Jun 2014
Thanks Given: 4,362
Thanks Received: 2,400


Look into sierra chart, which allows you to do replay without a broker for low monthly fees

Sent using the NexusFi mobile app

"It does not matter how slowly you go, as long as you do not stop." Confucius
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  #14 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
Thanks Given: 111
Thanks Received: 149

Try to explain regarding these points,

10. What are your beliefs about trading against the largest and most powerful corporations on earth, Big Oil, with $100's of billions in resources every conceivably advantage (tech, account size etc) and inventory knowledge in advance of reports?

I believe i m plan to trading for my living, So When Compared to the cost of running business to the Big Boys, Actual Overheads is very small for me. So It doesn't matter. Some Calculated edge is enough to play with them.

11. Why do you believe trading is a good fit for you?


I think i 'll become a right trader after some years of practice. Hope practice makes me perfect. Finally I 'll fit for trading. But not now.

And...

12. How do you define a trade opportunity?


I 'm following Value Areas to open my trades. based on VAH, VAL, and POC with VWAP Combo. Regarding this lets explain later.Anyway i 've enclosed the Chart for understanding purpose.

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  #15 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
Thanks Given: 111
Thanks Received: 149

12. How do you define a trade opportunity?

I 'm following Value Areas to open my trades. based on VAH, VAL, and POC with VWAP Combo. Regarding this lets explain later.Anyway i 've enclosed the Chart for understanding purpose.

This's the part of my trade plan, to find the areas of trade opportunity. Actually there's very less documentation regarding orderflow footprint reading, So i can explain the edge upto some extent only.

Reading of Inside the Prints of each bar is understand the control of Power.So accordingly i guess the direction of price move along with Value Areas.

Luckily i 've seen a post on this forum with detailed chart to highlight the anatomy of footprint bar, Some unexplored terms 'll familiar to understand.

(Courtesy - paps)

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  #16 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
Thanks Given: 111
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Trade in the direction of the trend according to Value Areas.

Long : Above POC and VWAP with Imbalance of Buyers
Short : Below POC and VWAP with Imbalance of Sellers

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  #17 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
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No trade day

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  #18 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
Thanks Given: 111
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MCX Market Crude follows NYMEX Oil

1 tick Size - $0.01 On US Oil Tick Value $10
1 tick Size - INR 100 On Indian Oil Value - INR 100

Approximately When 10 ticks move on NYMEX Oil Price, at the same time 5 to 7 Points move On Indian MCX Oil

Let assume focus a trade with 10 Plus ticks (Except Slippages)

10 ticks - 10 x $10 - $100
10 Points - 10 X INR 100 = INR 1000

If i get 2 to 3 trade per day as per expected target, Really It should be great money.



To achieve the above target, at least I 've to practice to get 3 to 4 ticks with Very limited risk. So today started live trading with reasonable margin. Really best result on this scalping.,at the time of US Market timing.

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  #19 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
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South Asia(GMT+5.30) Indian MCX Session Closing @11.55PM Crude Trading near @ $53.85

Some Bullish move on Oil nearly $1 from Europe Session.

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  #20 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
Thanks Given: 111
Thanks Received: 149


I Kept Some Short Positions for Positional on 10.02.16 Friday @ $53.85 Range (Indian MCX Price 3600 Range)
Today Market Opened almost Flat with few ticks negative as per global CL Price move @$53.78 Range. @ 10.AM (+5.30 IST)


Anyway i thought some chances are more for pullback. Still holding my short with confidence.

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