Tuna's Crude Recordbook

[Tuna]

2935


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[parijnan]

Thanks Tuna.

I have placed mine at 2931. L3 in Camarilla Pivot level.

I'm very interested in knowing how you decide entry levels. In this case 2908 corresponds to L4 and is my entry level too.

 

[Tuna]

New short added @ 2925 / SL 2935

 

[Tuna]

New short added @ 2925 / SL 2935

Booked +15 @ 2910, first position still open


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[Tuna]

Short @ 2908

This one booked full @ 2885 = +23 points.
Done for the day.

 

[Tuna]

2 win (+15, +23) , 0 loss or scratch

Set Counter:

Profitable Trades (> 15) = 19
Losing Trade (> -10) = 5
Scratch ( 10 to - 10) = 13

 

[Tuna]

Good Night folks and Happy Drilling !!

 

[parijnan]

Great going Tuna.. A lot to learn from you.

I moved my SL to 3935 and avoided getting whipsawed, but got a little impatient later. I booked at 2905, making this trade a scratch.

A lot of questions for you specific to this trade. Please answer when you get the time. I'm using 3 minute charts and 15 minutes chart.
1. How did you figure out that the market was bearish overall?
2. There was rejection at 2925 levels with a pin bar at 20:00 IST. Was that why you added to your position?
3. The market spent a lot of time between 2900 and 2910 (21:18 to 21:54) before it broke down. What are the indications of where the market is headed at that time? I'm asking because this is where I got nervous and exited resulting in a scratch. This would have been a win if I had an indication that the market would break down rather than rally. I know it's impossible to predict the market direction, but I would like to know how you would read the probability at such a time. Would you look at a different time frame? Would you consider earlier price rejections?
4. How do you decide exit points? Do you wait for oversold levels on any indicators or would you decide on a certain number of points to book at?

Please do post your replies if you get the time. I know it's a lot to answer, but for me it's a learning process and I'm happy to see somebody successfully day trading in Crude, which is what I've been trying to learn as well. Any advice is appreciated.

Thanks.

 

[Tuna]

Well let me answer in very brief, more when I reveal my system later.

1. Market was rangebound with bearish bias. Not outright bearish. It is already bottomed out quite a bit. I was negative yesterday as a breakout to close and sustain above 3035 failed last week and also USD was strong

2. Yea that was my anticipated DH and I was right

3. Well it was a difficult market yesterday and all one can do was to sit tight and look for small range profit like 15, 20 points etc. Indicator does not help much as there lack of momentum or whatever you want to track. BRN 2900 was key, breakdown of that gave some chance to book profit

4. I generally look for 15, 20-25 points in narrow range market. I don't trail. I use TSL only if market is volatile and showing good range expansion (key).


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[Tuna]

Trade # 1 (V Risky)

Crude Shorted @ 2995, SL 3035