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bofh's 100k OneUpTrader Evaluation Journal


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bofh's 100k OneUpTrader Evaluation Journal

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  #1 (permalink)
Chicago, IL
 
Experience: Intermediate
Platform: SierraChart
Trading: /ES /CL
 
Posts: 15 since Mar 2018
Thanks: 4 given, 20 received

So at this point, I am successfully trading my own account, while I toyed with scalping at the beginning, I am mostly a swing trader on my own account. So I decided to see if I can day trade the /CL (mostly focusing on CL since it is my primary trading vehicle).

I was able to snag a 20% discount on the 100k evaluation for OneUpTrader.

Rules:

Take only trades if they fit my setup only.
Follow OneUpTrader's scaling plan.
Manage Risk accordingly, my entry is not very important.
Trade only 0800 to 1500 CST.
Do not hit exceed the daily Net Loss of -800.
Take what the market gives you for the day.

Trade Plan:
Enter with three lots.
First Profit Target is at +20 ticks.
Second Profit Target is at +40 ticks.
Third Profit Target: N/A I will let the market take me out, after the first profit target have been hit, I will be moving my stop to breakeven + 10 ticks. If I am not taken out by the market close, I will manually close the trade regardless of the price.
Stop: -10 ticks across the board.

Strategy:
The strategy is simple: Attempt to trade the breakout to the upside and/or to the downside based on the High/Low of the first minute at 8AM. Additionally, I will be looking for bounces and rejections at the overnight high and low.

Only made one trade today on /CL.


Took a short position at 61.97 w/ 3 lots (Noticed that CL has been rejecting the Overnight High of 62.00, the Intraday High was at 62.11).
Profit Target One has been hit at at 61.77, I moved the stop to BE + 10 ticks.
/CL quick reversed and took out the stop for the other 2 lots @ 61.87.

Net Gain For The Day +385.00


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  #3 (permalink)
Chicago, IL
 
Experience: Intermediate
Platform: SierraChart
Trading: /ES /CL
 
Posts: 15 since Mar 2018
Thanks: 4 given, 20 received


Since the API figures just came out it shows a strong case for the price of Oil to go even lower.

API Details:
Crude: +8.6 M
Cushing: +2.1 M
Gasoline: +0.6 M
Distillates: +2.2 M

There is a quite a build-up in the inventories. We will see what the EIA report brings us tomorrow since API numbers have been very off many times.

It appears that CL has gapped down for the Overnight Session w/ Open at 61.37

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  #4 (permalink)
Chicago, IL
 
Experience: Intermediate
Platform: SierraChart
Trading: /ES /CL
 
Posts: 15 since Mar 2018
Thanks: 4 given, 20 received

Update for 05/15/2019

I missed the initial opening range entry above 16.07 as I was busy taking care of some household items. Thus I waited until after the EIA report which comes out on Wednesday's at 930AM CST before I put a trade on.

Since my goal is to follow the OneUpTrader rules to a T, I will ensure that I do not have an open position prior to and immediately after the report, as I would need to re-enter the trade (I get why the have this restriction in place on funded accounts, and I've seen CL's price action when the report comes out and it can get quite ugly to be honest).

EIA Report Numbers:
Crude: 5.431M
Cushing: 1.805M
Gasoline: -1.123M
Distillates: 0.084M

There is quite a build up in crude, however, we can see the draw on gasoline which is the reason why crude went up instead of going down (I think, this is my own opinion, take it with a grain of salt), as typical when we have a draw in a refined product(s). But then again as we all know markets can and will remain irrational for far longer than we can stay solvent. This one of the reasons that I will trade price action and not the news although they are helpful when trading commodities.

I used a one minute chart to draw the range right after the EIA report came out. The range was as follows: 61.47 to 61.23 and this is rather a mild reaction, as there are times when CL can have face ripping and account killing moves after the release.

The idea was simple, go long above 61.47 and go short below 61.23.



Took a single trade on the CL today, could have managed two trades if I traded the opening range, however, I was busy at the time so we can forget about this opportunity. If we miss a move, we can catch the next one, which is exactly what we did today.

Took a long position at 61.49 w/ 3 lots with a stop at 61.39.
Profit Target One has been hit at: 61.69 and I have moved the stop loss to BE + 10 ticks.
Profit Target Two has been hit at: 61.89
Profit Target Three: Let the trade run and per the initial plan (Either let the market take me out by hitting my stop or I close out the trade prior the close regardless of the price): Closed the trade at 62.21.

Net Gain For The Day: +1305.00

5 Min Chart For The Day With Levels:

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  #5 (permalink)
Dallas tx
 
 
Posts: 18 since Oct 2014
Thanks: 7 given, 29 received

So, how did things go with OneUp? Did you make it through their trial? // I am currently in day 4.

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  #6 (permalink)
Dresden Saxony
 
 
Posts: 1 since Sep 2020
Thanks: 0 given, 1 received

and how did it go for you, sir?

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