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I'm back from my vacation and looking forward to getting back into my oil trading. Will keep it small size today and try to be patient as I just missed a nice move up from even 48. let's see how far we can go up
So I'm just thinking of posting my trading combine results here and continue the journal as I used before my vacation. Post daily trades, analysis and thoughts.
Yesterday I received my login details for topstep trader and hopefully I can show that it works out . Only problem I have is that I probably wont be trading 15 lots as with a 3k daily risk limit and 4.5k overall risk limit, I have to trade much smaller to stay in the game. Reason is that with a 15 lot position and my usual 8T SL - I would look at a loss of $1200 plus commissions, hence I could only have 2 loosing trades and then my day would be done and only 3 trades and the combine would be over. Therefore, I have to come up with a reasonable position size. Will think about it and then post later.
I just had my first combine trade but entered only 6 lots, made a tine profit of $240 minus commission. Will post it later as well
So I did some calculations and I think, I will trade with a $1.5k daily risk limit as it gives me at least 6 losing trades in a row with 3 lots or 4 trades with 4 & 5 lots.
Otherwise I wont make sense to trade bigger size with such small risk limits and I'm also not a fan to trade like 10 lots but only 3-4T stop loss as the noise will most likely kick me out very often
Well we had a build of 4.6m which was expected, so CL came down a bit and then up and then back down...no real follow through in any direction yet. On the sidelines and managed a small profit only.
3 oil trades so far, but no patience at all and need to get back into proper trading discipline after such a long break...hopefully in a couple of days it will go better
also just 1 and 2 lot trades only...and I need to trade at least 4-5 lots to reach profit target 9k...