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Trade Plan - Based on Market Profile with Footprint set up.
Trading Hour - US Session
Trading Instrument - CL
Market - US Market(NYMEX CL), Indian Market (MCX CrudeOil)
Risk & Reward Ratio - 10+Ticks/Trade
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
Some questions for you:
1 How do you size your positions?
2 What percentage of your account do you risk on average per trade?
3 How big of a drawdown can you withstand considering question 2?
4 How do you manage risk during the trade?
5 How do you know when to stop trading for the day or week?
6 How do you set targets?
7 What's your strategy or method used for stop placement?
8 What do you believe about CL?
9 What are your beliefs about your trading methodology?
10 (And please forgive the loaded #10 question) 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?
11 Why do you believe trading is a good fit for you?
And...
12 How do you define a trade opportunity?
I sincerely offer these questions in a helpful, constructive and supportive light.
As a Non US Trader, I 've no idea about right edge to trade on Live CL Market.So far I 've Practice on only SIM Mode. Hope Real fills are something different. Anyway based on US Oil Price move, tracking local commodity market price, Really worth to watch for better trade on local market.
Cut it short, i m very comfort on short momentum trades based on flow of orders either buying side or selling side.I think its not a right edge to survive on this market for long time.