The trades all had pretty good entries but 6 times I was stopped out at BE after I already had +4/+5T and most of the times it just went back to my entry and then went into the right direction where my target would've been. Of course this is annoying and very frustrating but there are the rules I put on myself and I'm ok with it. This is the system I tried to use for this challenge and in 1 or 2 days I'll hit the special number of 100 trades and then I will analyse it.

Biggest issues I' often see is that aspiring traders keep changing their methodology after a couple bad trades and then they will never have the data to actually assess their weaknesses in their system. Hence, I follow the rules rigorously and then the data will exactly tell me where I need to improve and then just do it again for 100 times.

So a break-even day today and still far away from the 20% goal but at least tomorrow will be a volatile session with the EIA release. Plus I still have 9 trading sessions left! So I just stay positive and don't really care about the P&L. The only focus is sticking to the rules set!

Here are the statements from today's session:

Nothing really changed...

Today we saw a small build +1.6m vs expected draw of around -3m, hence we dropped like 50T and then came back up, API Reports Surprise Build In Crude Inventories | OilPrice.com.

Crude: +1.63m
Gasoline: -5.4m
Distillate: -2.9m
Cushing: +0.6m

nice big draw on gasoline which is in line with summer vacation demand for gasoline. Will be interesting to see what we get tomorrow. Good evening all!

here it is:

max risk limit hit for the session, done for the day as I don't have anything left to trade more...

$-340, broke risk limit...

mastadee 

max risk limit hit for the session, done for the day as I don't have anything left to trade more... $-340, broke risk limit...

Tough luck.
You'll make it back tomorrow!

Well, I couldn't resist and entered 2 more trades and of course didn't gain anything and now I'm looking at a loss at $-394.96. Pretty stupid as when I was at $-256, I told myself I should stop as it's just not my day today BUT of course then you see an opportunity and think it will finally give you a profit and then bamm again stopped out...my hand still wants to put on trades but need to be strong and stop

--> Most important thing to preserve capital and sticking to the rules which I clearly didn't do today!!

Here is the 1min chart and it looks pretty messy and you can't really see anything, hence I've attached a 5second chart as well:




Trade 1:

Entry: 47.17
Stop: 47.25

AFter we had the big draw of -4.7m vs. expected -3.6, it immediately jumped up 40T, then it came back to 47.10ish and back up and then it came down. So I thought we could go back down to $47 even where we find support. However, it just traded near my entry and then it quickly went up to make a new high and I was stopped out.

Trade 2:

Entry: 47.22
Stop: 47.30

When it made a new high at 47.31 and immediately came lower I thought we could find resistance there and trade lower. It went only to +3T onside and then slowly traded back up to the high and I was stopped out again.

Trade 3:

Entry: 47.31
Stop: 47.39

Now I waited a bit and after I was just stopped out it went up higher but then finally found resistance at47.37 and went lower. I entered short again and it did trade lower and my auto BE was triggered but it then went back up and I was out with only +1 and then it sold off 60T....

Trade 4:

Entry: 47.29 (2 lots)
Stop: 47.37

Again short but this time 2 lots as it looked promising that we have a move back down to even $47. I was stopped at BE. Again it went onside to +4T but then again it touched my stop and out with nothing again....

Trade 5:

Entry: 47.23 (2 lots)
Stop: 47.31

At this point I became pretty annoyed and entered again 2 lots. But as always onside +4T and then stopped out at entry only to see it falling 50T right after I was stopped....very very very annoyed...

Trade 6:

Entry: 47.04
Stop: 47.12

Now I was feeling pretty shitty as I just missed this nice quick move lower and I didn't really wait for a proper set-up, just hit market order. I went short again as 47.11 now became resistance as we broke the level and I thought we could go lower again. But I didn't really take into account the even $47 as good support...so I was quickly stopped out on the tick only to see it go back down to my entry...

Trade 7:

Entry: 47.02
Stop: 47.10

This was a really bad revenge trade as I had just been stopped out and thought now we should go down and break even 47. But of course, it held as good support again and I was stopped out again...here I already broke my risk limit as I was down $-312.48

Trade 8:

Entry: 47.15
Stop: 47.23

Shot again as it just came down from 47.23 and I thought we finally head towards 47 even...still kind of married to that level and not thinking straight. It quickly went to +3 and then it came back up and I was almost stopped out. So when it came back to my entry I took 1 lot off as I was already over my risk limit. Then it went to +4 and auto BE kicked in and of course stopped at entry...

Trade 9:

Entry: 47.16
Stop: 47.24

I entered again but with just 1 lot as I was currently looking at exactly -300 for the session. I went short because 47.23 held as resistance and it went lower. Again, I was +4T and auto BE kicked in and I was stopped out at entry.

Trade 10:

Entry: 47.14
Stop: 47.22

Short again as I was just stopped at BE, finally it went lower and +4T so auto BE kicked in and then at +7 my auto trailing stopped was triggered but it went back to hit my stop and then my target was hit only 30s later...very annoyed

And here are the last 3 trades:



Trade 11:

Entry: 47.21
Stop: 47.29

Took a break of 30min and when I came back I saw that 47.30 held as resistance and I went short. Immediately it went to +4T and auto BE kicked in and was triggered. Only to see that it then went lower...

Trade 12:

Entry: 47.09
Stop: 47.17

When it finally came down to 47.10, I thought that we could have a quick move down to even 47 but when I entered it just went back up and I was stopped out...

Trade 13:

Entry: 47.08, 47.16, 47.18 (3 lots)
Stop: 47.22

I was pretty annoyed at my trading today and thought I would give it a last try and even scaled in another lot but while in the trade I thought, if I really get stopped out then I'll look at a loss of around $600 which I can't really afford, hence I took it off near my entry and tried to hold onto my last lot and just manually move my stop to entry which was hit.

Of course later it finally went down to 47.02 and my avg. entry was 47.14, so 12T x 3 and I would be break-even for the session...well but not sure if I even would've hold onto the 3 lots for that long, also I would've been stopped out at 47.22 as it traded up to 47.23 and then went back to even 47...so overall not a great executed session for me.

Ok finally reached my 100th CL trade and will look into my ATM analysis now. Today again, 8 trades where I had +4T and then went out with +1. quite a miss here again and the same as I had yesterday...