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Thanks a lot for your suggestion, But that SIM Account got it from TopstepTrader Practice Account for 14 days as a free trail.
I 'm very proud and surprised to see the interaction of legendary icons, xplorer, rleplae, Blash, and jackbravo watching this new amateur trader's journal.
10. 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?
I believe i m plan to trading for my living, So When Compared to the cost of running business to the Big Boys, Actual Overheads is very small for me. So It doesn't matter. Some Calculated edge is enough to play with them.
11. Why do you believe trading is a good fit for you?
I think i 'll become a right trader after some years of practice. Hope practice makes me perfect. Finally I 'll fit for trading. But not now.
And...
12. How do you define a trade opportunity?
I 'm following Value Areas to open my trades. based on VAH, VAL, and POC with VWAP Combo. Regarding this lets explain later.Anyway i 've enclosed the Chart for understanding purpose.
I 'm following Value Areas to open my trades. based on VAH, VAL, and POC with VWAP Combo. Regarding this lets explain later.Anyway i 've enclosed the Chart for understanding purpose.
This's the part of my trade plan, to find the areas of trade opportunity. Actually there's very less documentation regarding orderflow footprint reading, So i can explain the edge upto some extent only.
Reading of Inside the Prints of each bar is understand the control of Power.So accordingly i guess the direction of price move along with Value Areas.
Luckily i 've seen a post on this forum with detailed chart to highlight the anatomy of footprint bar, Some unexplored terms 'll familiar to understand.
1 tick Size - $0.01 On US Oil Tick Value $10
1 tick Size - INR 100 On Indian Oil Value - INR 100
Approximately When 10 ticks move on NYMEX Oil Price, at the same time 5 to 7 Points move On Indian MCX Oil
Let assume focus a trade with 10 Plus ticks (Except Slippages)
10 ticks - 10 x $10 - $100
10 Points - 10 X INR 100 = INR 1000
If i get 2 to 3 trade per day as per expected target, Really It should be great money.
To achieve the above target, at least I 've to practice to get 3 to 4 ticks with Very limited risk. So today started live trading with reasonable margin. Really best result on this scalping.,at the time of US Market timing.
I Kept Some Short Positions for Positional on 10.02.16 Friday @ $53.85 Range (Indian MCX Price 3600 Range)
Today Market Opened almost Flat with few ticks negative as per global CL Price move @$53.78 Range. @ 10.AM (+5.30 IST)
Anyway i thought some chances are more for pullback. Still holding my short with confidence.