"Just Oil"

I am still not happy. if you check my trades, I have high % of trades going pretty far. Like today. But so far fail to pick more pips. I thought the problem was solved. On Demo I picked well more pips.
I wonder what might be the solution. Any input?

I think it is because of yesterday. 4 trades 30-35 pips ended BE. Last trade was 20 pips ended BE. 1 real loss. another got nervous and closed -20 pips but it was actually a 30 pips winner.
Today decided to pick money as soon as I have my yesterday's loss back.

Your equity curve is growing nicely, the slant you want. To me it seems your losers that are killing you are ones you seem to keep trying, like on 08/08 you kept selling and getting hammered, many trades taken at the same time.

Looks a bit 'streaky', but your outdoing and the equity curve increases, this is what you want.

I would say using time of day and especially price action based candles around your levels should weed out a large % of your losers.

A good piece of advice I learned a really, really hard way is don't be carrying yesterday's trading into the next day. When your done, put it firmly behind you. Otherwise you end up taking profit early, no confidence, etc. Just keep the good, throw out the bad. Your looking for a weekly or even monthly average.

Had you not had the day you did yesterday you may have taken hundreds of pips today. Psychological warfare it can be.

FXraider posted:
    Your equity curve is growing nicely, the slant you want. To me it seems your losers that are killing you are ones you seem to keep trying, like on 08/08 you kept selling and getting hammered, many trades taken at the same time.

Looks a bit 'streaky', but your outdoing and the equity curve increases, this is what you want.

I would say using time of day and especially price action based candles around your levels should weed out a large % of your losers.

Yeah, this actually what I am doing. Trading price action around various levels but I try to go only with a trend and mostly avoid contra trend trades.
Those losing trades actually happened because I was not letting candles close... like was in a hurry. I do not do it anymore.

FXraider posted:
    A good piece of advice I learned a really, really hard way is don't be carrying yesterday's trading into the next day. When your done, put it firmly behind you. Otherwise you end up taking profit early, no confidence, etc. Just keep the good, throw out the bad. Your looking for a weekly or even monthly average.

Had you not had the day you did yesterday you may have taken hundreds of pips today. Psychological warfare it can be.

Yes, one should decide what kind of trade he is. If day trader all trades must be closed by the end of the day.
But here we have huge intra day runds. so as day traders we should be able to pick some nice portion of such daily range.

Obviously so many BE trades and losing day made we jumpy and I closed everything to bring account back.
Otherwise, half position closed would make me 0.3-0.4% , my average daily gain and I would just leave the rest run. I would have picked 100 pips at the very least.

entering trade I also checked ATR. last 3 days which were not that big actually range was around 250 pips. so, I checked how much price ran form the daily top and it was 50-60 pips, so , I was thinking it is going to get me 100 pips at least but then seeing money in the pocket decided to close everything. psychological warfare no doubt.

Your using the 15Minute as your signal chart now for entry or shorter term?

Yes. Used to do it on 5 min but 5 min is too noisy. I am watching all time frames and still 5 min too but only after signal was given on higher TF.

In any case, the key word is patience and psychological stability. Once we know what we are doing of course.

Just too few trades. Was waiitng to go short but as 80.24 held and trend line too, I went long at 80.57 thinking of break out above 80.75 which much took price to PP 81.38 and there is nice level on 80.50 which if broken can be a nice long trade. Ok, price reversed and gave short signal on 15 which I followed and my long got stopped. waited and set target not to be too freedy as guys might be running price down to pick some unfinished long orders. so was looking at 79.70 as a reasonable target.
then price stalled consolidated and gave one more signal on 5 min which I followed with smaller size position and smaller stop.
closed everything few pips above my target. it just been hit.
Lost 2% than made 6% so I am 4% up for now at about 55% up.

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Now gotta be watchful. This is not set in stone but there might be a mighty good opportunity to go long forming.
so far it is better to just sit and watch.

Practice makes perfect.

half position closed at 40 pips the rest will left to run. stop at BE, added 1%.

second half 80 pips up by now.

Sweetness. Let me ask you, how's your 'European' session oil been going? Breaking it down by session, is it worth it? The thing is I trade oil and FX, and the London through NY sessions, but I'm at the tipping point on my cruddy time schedule here to just get up by 5AM NY and trade through to lunch. I think it would be fine in all right I could take some Asian entries.

With that being said you'll likely in a much better time zone, and Asian oil entries aren't the best always, but NY is all you really need. I mean, once you get to trading lots and so forth, 30-50 pips a day is good money anyhow. Do you have a plan to on oil to go to more swing trading, or stay a day trader? Cheers.

I am not trading oil on Fridays on live yet. Currently as I am on break I can watch market uninterrupted from 3-4:00 a.m. EST to the market close, but I usually do not trade after 12:00. after 2:00 p.m. there might be more opportunities but when I work I can trade between 3-6:00 a.m. then leave and then since 9:30 a.m. to 1:30 p.m. then I leave again.
Asian session might be good only in such cases like last week but I am not watching it. i only set all lines during Asian session and then leave.
I am not thinking to become swing trader. I am not that good at it. Tried already with bad results. I am planning to stay day trader. it is also what investors and firms prefer. no overnight/ over weekend positions and everything closed by the end of the day. i think it is much better to constantly think of what my position is doing.

it shot up. 160 pips now. moved stop and locked 50 pips. now I am watching how 81.50 holds as it was broken but will it hold as support.

also, when I work I am doing some home stuff on my breaks so cannot trade Fridays.