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"Just Oil"

Chikot
Jan 11 2013 at 17:01
2299 posts
Hello XharpScalper, been long time. I am not even watching oil for now. I am into Nasdaq and still FX.
Still working my way to become pro. Long windy road it is.
How are you doing?

XharpScalper
Jan 11 2013 at 17:14
283 posts
Why you lost interest in oil i thought it was trending commodity , am doing fine i use only EURUSD.

Chikot
Jan 11 2013 at 17:22
2299 posts
I have not lost interest. Just postponed. I myself lack capital to trade oil. Where I am trying to get into futures professionally account size and oil minimum position size do not mix for me. I decided after some thought to stick with Nasdaq. It has small lots of $5 per contract and it is pretty volatile...

I have been condacting back testing for some time to get a plan and last 2 weeks have been making trades on MT4 which is a bad place to trade ND. spread is 1 point. nevertheless results are pretty ok.


XharpScalper
Jan 11 2013 at 17:27
283 posts
Spreads are always very heavy for trader to pay when markets tend to be thin and low volume. Am paying 2 pip spread some time slippage make is 3 or even more.😲 but have to deal with it.

Chikot
Jan 11 2013 at 17:37
2299 posts
oil is 5 pips spread on FXPrimus. ND is 1 point spread..... a lot.
nevetheless been test tarding before I satrt real thing and even with one point results are ok:
It is 1% risk per trade but would reduce to 0.5% on futures platform.

Gross Profit: 49 554.00 Gross Loss: 21 600.00 Total Net Profit: 27 954.00
Profit Factor: 2.29 Expected Payoff: 1075.15
Absolute Drawdown: 13 200.00 Maximal Drawdown: 14 400.00 (1.70%) Relative Drawdown: 1.70% (14 400.00)
 
Total Trades: 26 Short Positions (won %): 12 (83.33%) Long Positions (won %): 14 (71.43%)
Profit Trades (% of total): 20 (76.92%) Loss trades (% of total): 6 (23.08%)
Largest profit trade: 6 450.00 loss trade: -3 600.00
Average profit trade: 2 477.70 loss trade: -3 600.00
Maximum consecutive wins ($): 10 (33 372.00) consecutive losses ($): 4 (-14 400.00)
Maximal consecutive profit (count): 33 372.00 (10) consecutive loss (count): -14 400.00 (4)
Average consecutive wins: 7 consecutive losses: 3

it is for 2 weeks.

XharpScalper
Jan 11 2013 at 17:41
283 posts
Chikot
Jan 11 2013 at 17:45
2299 posts
Generally my recent problems were related to my refusal to take profits looking for more. I incorporated it into this approach. Taking first profit is mechanical, protecting still plus small profit is automatically. the rest left to run until either stop making new highs or just a lot of on the table 😄 My main task is to manage the profitable half the rest is rules.

Chikot
Jan 11 2013 at 17:47
2299 posts
if you check my first posted account you will see how cutting losses and not taking profits can bring account down. even small losses added up. hence, same principle should apply towards profit taking. At least I hope so.

XharpScalper
Jan 11 2013 at 17:48
283 posts
you should cut the losses short and let the winning run but you should also realize the profits when they are at peak or maximum. 😄

Chikot
Jan 11 2013 at 17:52
2299 posts
The problem is how do we know where is the maximum. The problem at the period of my trading for 6 months first account was that market all but one month was in range. bad conditions. I have been 3-4 times up to 250 pips in profit from e/u and got not a penny. all BE cause i was following rules which I think were too strict in this regard. account was many times in floating profit from at least 5 to maximum 22% . so, I decided to restart on new account and start using some improvements especially profit taking part. It will be interesting to see how this account will be doing after 6 months. I also further reduced leverage.

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