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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

  #31 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
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US Oil Price trading $53.05 range @closing time of Indian MCX @11.55 PM (IST)

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  #32 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
Thanks Given: 111
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No more Changes on overnight closing and early opening on Oil Price. @ $53.05 range.

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  #33 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
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Some swing trades based on VWAP, above and below

Trades ended with green.

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  #34 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
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US Oil Closing @ $53.35 level @ 11.55 IST, Due to President's Day US Session Holiday on 17.02.17

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  #35 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
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Indian MCX Crude flat open and last day of Contract Expiry. Let focus next contract

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  #36 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
Thanks Given: 111
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some momentum trades done with 10 + Ticks.

Holding Some Short Carry forward Position @ Closing time.

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  #37 (permalink)
 BoltTrader 
Phoenix + AZ/USA
Legendary Market Wizard
 
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yawaniga View Post
some momentum trades done with 10 + Ticks.

Holding Some Short Carry forward Position @ Closing time.

Do you have a picture of a chart so I could see your entries and exits. Have a great weekend!

Don't be controlled by GREED, Led by FEAR, or Puffed up with PRIDE!
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  #38 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
Thanks Given: 111
Thanks Received: 149


BoltTrader View Post
Do you have a picture of a chart so I could see your entries and exits. Have a great weekend!

Hi BT,
Thanks for tracking my journal, Sure I 'll post my chart with my understanding.

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  #39 (permalink)
yawaniga
chennai/india
 
Posts: 155 since Sep 2015
Thanks Given: 111
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Hi BT,

FYR. Usually I prefer Short trades on next month Contract at the time of Current contract expiry date, So that i was on Short Side.

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



Blash View Post
Some questions for you:

1 How do you size your positions?

2 What percentage of your account do you risk on average per trade?

3 How big of a drawdown can you withstand considering question 2?

4 How do you manage risk during the trade?

5 How do you know when to stop trading for the day or week?

Ron

Sent from my iPhone using futures.io


1 How do you size your positions?


Usually My trade size is upto 3 to 5 lots.
If Prize move to my favour 'll exit at predefined target and 'll close 3 lots, and rest of 2 lots 'll let to run upto the trend ends. Sometimes price may be reversed from my entry level, if this happens i 'll add 2 lots according to the price level along with existing 3 lots. Due to the average of trades most of the time i can exit with expected ticks.

Assume set of my entry rules @ exact reversal may be price move upto 25 ticks

5 lots Entry - exit 3 lots @ 10 Ticks and 2 lots 15+ticks

2 What percentage of your account do you risk on average per trade?

Average Upto 5% to 6% risk level is comfort for my trading personality.

3 How big of a drawdown can you withstand considering question 2?


Average upto 10% risk, due to any unexpected news impact volatility.

4 How do you manage risk during the trade?

To be frank depends upon the market conditions.,and trading mentality of that particular day.Anyway I Prefer Very limited calculated risk level of trades.

5 How do you know when to stop trading for the day or week?

My expected target - 50 TO 80 Ticks/day
Per weak target - Approximately 400 Ticks

On my early trading days i never follow any rules for daily loss and target, But recent days i try to follow disciplined trading with set of rules.

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