Wednesday, 11 June 2014

Crude goes simple - Going to stick with my trend set up - max 13 days per trade

I understand max.two trades in a month translates to 6 -8%  price movement.One up and one fall.
My trade experiences till now suggests it is our mindset that disturbs our trade and determines our P/L.
Long ago, I stopped intraday trading and few weeks back I stopped weekly trading.
My first month trend trading ended in loss as I have fixed a particular target 100.65-100.80 and waited for price. It reversed from 101.60. My charts showed me buy 102.75 but wrote to my subscribers that volumes are low, Trend is down, breaks above 103.35.Still then I didnt exit waiting for resistance 103.54, 103.78 and finally exited at my 104.17.

Previouly when prices came down from 104.50,I was having longs looking for some more points.my charts showed sell at 104 with stoploss of 104.85 later I shorted at 103.70-103.65 failed again when my charts show buy at 102.75.

Without using Trendlines,Fib,Elliott,Gann,S/R,
a simple method of following my trend signals, would have given

28/05/14 -09/06/14 = 104 -102.75 = 1.25$ per Lot
09/06/2014 - till date = 102.75 - 104.45 = 1.70$ per lot
translates to 3 $, 3000 $, 6000 $ for two lots.

28/05/14 -09/06/14 = 6140 -6085 = 65 per Lot
09/06/2014 - till date = 6085 - 6204 = 120 per lot
translates to 185, 18500 INR, 37000 for two lots.

It seems the setup will work and I am going to stick with my setup
 

No change in strategy.Profit booking happened, Mcx came close to my stoploss and pulled back. Holding longs.


Tuesday, 10 June 2014

My strategy for this week

rule one 104.8        to  102.33
rule two 104.8        to 106.49
rule three     106.49        to 103.97
rule four                      104.8       to           105.62
rule five                       104.8       to           107.25

Will short 1 lot at 6240, 2 lots each  at 6294, 6334 in July contract.
If current 3 lots stoploss hit at 6160, 3 lots shorts at 6159 will be added for the target 6070.
Current buy 1 lot I will exit at 6260 and two will carry to 6304 with stoploss revised to 6220

Other two lots bought at 6201


one lot bought at 6213


Will buy1 lot at 6213 and two lots at 6201 with Stoploss of 6160 for Target 6304

106.44 106.31 6304 6301 0.382
104.81 104.81 6215 6212 0.236
104      103.89 6160 6157 0.146
          102.4     6072.
       59.3

Buy Gold 1241 -1227, add more @1211 for target of 1300


Sunday, 8 June 2014

WTI for July delivery rose 18 cents to settle at $102.66 a barrel on the New York Mercantile Exchange. Futures declined 5 cents this week. The volume of all futures traded was 14 percent lower than the 100-day average at 2:48 p.m.
Brent for July settlement fell 18 cents to end the session at $108.61 a barrel on the London-based ICE Futures Europe exchange. Volume was 13 percent higher than the 100-day average. The European benchmark crude closed at a $5.95 premium to WTI, down from $6.31 yesterday.

nifty