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

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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  #3 (permalink)
 
xplorer's Avatar
 xplorer 
London UK
Site Moderator
 
Experience: Beginner
Platform: CQG
Broker: S5
Trading: Futures
Frequency: Never
Duration: Never
Posts: 5,924 since Sep 2015
Thanks Given: 15,419
Thanks Received: 15,234



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

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)
 BoltTrader 
Phoenix + AZ/USA
Legendary Market Wizard
 
Experience: Intermediate
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Looking forward to your journal!

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  #6 (permalink)
 
rleplae's Avatar
 rleplae 
Gits (Hooglede) Belgium
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What is your edge on CL ?

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  #7 (permalink)
 
Blash's Avatar
 Blash 
Chicago, IL
Legendary Market Chamois
 
Experience: None
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Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
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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



Sent from my iPhone using futures.io

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #8 (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?

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


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


SIM Trades on NYMEX CL

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