I Wanna be a Professional Trader on Crude Oil Market
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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.
The following 2 users say Thank You to yawaniga for this post:
Favorite Futures: The one I'm creating in the present....ES, ZF, ZN, ZB, FX pairs
Posts: 1,872 since Nov 2011
Thanks: 5,774 given,
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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.
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.
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)
The following 6 users say Thank You to Blash for this post:
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.
The following 4 users say Thank You to yawaniga for this post:
