Monkey King's Oily Tales (Day Trading Crude Oil)

[Monkey King]

what i observed is it is at imp support of 195, but the trend is down

I paper traded zinc, you were spot on. It reversed from there abouts and flew down. Kind of checking to see how it respects the ema's etc. Feels good to trade but will have to spend a few days watching how it behaves.

 

[Monkey King]

Traded crude, loss, win, loss and now sitting on some 800 loss. (Brokerage loss is the bulk of it) If one more trade goes wrong I will touch my day sl. The mistake I am making is I am seriously baised and looking to short again and again, crazy really. I cannot seem to go long on pullbacks too

Let me see if I can wipe off the red or whether I end up shot and dead by crude for the day, lol.

 

[Monkey King]

How do you trade zincmini, the same ema method or something else?

Same as crude, no change, testing yet though.

 

[Monkey King]

Shutting terminal, was a see saw day. Down twice close to day sl, pure luck that I survived. Net some 150 pts so a happy ending to the week. No more risk or greed.

Will do the look back at the week tommorow.

 

[Monkey King]

just to re-cap, this was the plan for the week gone by -
1 Mon, Jul 1, 2019 1,050.00 36,050.00
2 Tue, Jul 2, 2019 1,081.50 37,131.50
3 Wed, Jul 3, 2019 1,113.94 38,245.44
4 Thu, Jul 4, 2019 1,147.36 39,392.80
5 Fri,, Jul 5, 2019 1,181.78 40,574.58

so, now to check how it went with the actuals -
start 35000
profit 5,589.00
days 5
avg/day 1118
avg/day % 3.19
ttl pft %15.97
end 40,589.00

win days - 4
losing days - 1
biggest win - 3949.00 (11.07 %)
biggest loss - 1100.00 (2.78 %)
avg trades / day - 3 or so (random rough figure as did not track exact)

the good - following strategy on most occasions
the bad - not quick enough to book losses and entering @ non area of value
the ugly - money management, too big position size wrt capital, a disaster in the making

best trading day - wednesday, respected day sl and ceased trading
worst trading day - friday, was seriously biased on shorts and refused to take pullbacks even when clear

overall - not a bad week discipline wise but must improve a thousand fold if i am serious about making a living from the markets in the long term

next week possible targets / plan

6Mon, Jul 8, 2019 1,217.24 41,791.82
7Tue, Jul 9, 2019 1,253.75 43,045.578
Wed, Jul 10, 2019 1,291.37 44,336.94
9Thu, Jul 11, 2019 1,330.11 45,667.05
10Fri, Jul 12, 2019 1,370.01 47,037.06

to end week 2 with a gain of 6463 net overall.

tough ask, let me see how it goes

 

[Monkey King]

Mcx seems like will open flat to red for the week which means that I will remain bearish on my 'with the trend' trades untill my charts signal otherwise.
Let us see how it actually opens, not much to wait to find out anyway.

 

[Monkey King]

Short on zinc, let me see how it goes. May trail sl after a while

initial Sl triggered, lol. was short at 194, sl trigger at 193.9. 5 lots.

short again @ 194 sl 193.95. trailing sl triggered @ 193.85 same - 5 lots

 

[Monkey King]

waiting to short crude - looking at a target of 3875 roughly. will enter if crude breaks below 3945

if it goes up over 3960 then will look for buy trade or may sit out

 

[Deelipenergy]

Was long at 3949, got stopped out at 3954
Then rose up to 3666

 

[Monkey King]

Was long at 3949, got stopped out at 3954
Then rose up to 3666

That is the problem that sl presents, cuts more winners than losers, lol.

I just got hit by crude, minus 500 net or so. No more shorting crude for now. I think it is mostly bullish now.