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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

  #1 (permalink)
Trading for Fun
chennai/india
 
Trading Experience: Intermediate
Platform: Ninja Trader
Favorite Futures: oil
 
Posts: 155 since Sep 2015
Thanks: 111 given, 145 received

I Wanna be a Professional Trader on Crude Oil Market

Hello to all,

This's yawaniga from India, Practicing SIM Trading on US NYMEX CL and Live Trading on Indian Futures.

And I 've Spent Couple of years Live Market Screen timing to understand the dynamics of Future trading.

For the purpose of this Trading Journal is updation of my trade plan with logical strategies. Pls Correct if anything goes wrong.

Happy Trading.

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  #2 (permalink)
Quick Summary
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Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Super Moderator
London UK
 
Trading Experience: Beginner
Platform: CQG
Broker/Data: S5
Favorite Futures: Futures
 
xplorer's Avatar
 
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yawaniga View Post
Hello to all,

This's yawaniga from India, Practicing SIM Trading on US NYMEX CL and Live Trading on Indian Futures.

And I 've Spent Couple of years Live Market Screen timing to understand the dynamics of Future trading.

For the purpose of this Trading Journal is updation of my trade plan with logical strategies. Pls Correct if anything goes wrong.

Happy Trading.

Hi yawaniga - good luck!

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  #4 (permalink)
Trading for Fun
chennai/india
 
Trading Experience: Intermediate
Platform: Ninja Trader
Favorite Futures: oil
 
Posts: 155 since Sep 2015
Thanks: 111 given, 145 received

My Trade Plan

Trade Plan - Based on Market Profile with Footprint set up.
Trading Hour - US Session
Trading Instrument - CL
Market - US Market(NYMEX CL), Indian Market (MCX CrudeOil)
Risk & Reward Ratio - 10+Ticks/Trade

Detailed explanation 'll add on next post.

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  #5 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Trading Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, NQ, YM, CL and GC
 
Posts: 505 since Jul 2014
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Looking forward to your journal!

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  #6 (permalink)
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Gits (Hooglede) Belgium
 
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Broker/Data: Ninjabrokerage/IQfeed + Synthetic datafeed
Favorite Futures: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
 
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What is your edge on CL ?

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  #7 (permalink)
Elite Member
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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?

6 How do you set targets?

7 What's your strategy or method used for stop placement?

8 What do you believe about CL?

9 What are your beliefs about your trading methodology?

10 (And please forgive the loaded #10 question) 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?

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

And...

12 How do you define a trade opportunity?

I sincerely offer these questions in a helpful, constructive and supportive light.

Ron



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It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
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  #8 (permalink)
Trading for Fun
chennai/india
 
Trading Experience: Intermediate
Platform: Ninja Trader
Favorite Futures: oil
 
Posts: 155 since Sep 2015
Thanks: 111 given, 145 received

Great Thanks Ron


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?

6 How do you set targets?

7 What's your strategy or method used for stop placement?

8 What do you believe about CL?

9 What are your beliefs about your trading methodology?

10 (And please forgive the loaded #10 question) 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?

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

And...

12 How do you define a trade opportunity?

I sincerely offer these questions in a helpful, constructive and supportive light.

Ron



Sent from my iPhone using futures.io

Great Thanks Ron,

for your sincere guidance to implement my trade journal, to be honest i never expect these valuable support from senior members of this forum.



Anyway i'll try to explain as per your list

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The following 3 users say Thank You to yawaniga for this post:
 
  #9 (permalink)
Trading for Fun
chennai/india
 
Trading Experience: Intermediate
Platform: Ninja Trader
Favorite Futures: oil
 
Posts: 155 since Sep 2015
Thanks: 111 given, 145 received


rleplae View Post
What is your edge on CL ?

As a Non US Trader, I 've no idea about right edge to trade on Live CL Market.So far I 've Practice on only SIM Mode. Hope Real fills are something different. Anyway based on US Oil Price move, tracking local commodity market price, Really worth to watch for better trade on local market.

Cut it short, i m very comfort on short momentum trades based on flow of orders either buying side or selling side.I think its not a right edge to survive on this market for long time.

Anyway miles to go.

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  #10 (permalink)
Trading for Fun
chennai/india
 
Trading Experience: Intermediate
Platform: Ninja Trader
Favorite Futures: oil
 
Posts: 155 since Sep 2015
Thanks: 111 given, 145 received

Scalp Trade Practice on SIM Mode


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SIM Trades on NYMEX CL

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