"Just Oil"

Reasons of current loss were too much leverage increased size and no daily loss limit.
Hence since now on I introduce 3 iron clad rules that will prevent me from ever again haivng this kind of loss:

1. MAXIMUM DAILY LOSS 2% OF THE ORIGINAL BALANCE. ONCE 2% LIMIT PER DAY REACHED STOP TRADING TILL NEXT DAY.
2. ALWAYS TRADE SAME SIZE AND NEVER INCREASE IT WHEN SUFFER LOSS.
3. WHEN COMING TO COMPUTER AFTER WORK FOR BREAK DO NOT START TRADING RIGHT AWAY. TAKE 10-15 MIN BREAK, CHECK SITUATION, ANALYZE BEFORE TAKING A TRADE AND WAIT FOR ENTRY ONCE THERE IS A SIGNAL ACCORDING TO ABOVE RULES.

The biggest problem is that I cannot trade all hours I wish. The break between 6:00 and 9:40 when I am not at home hurts. was +60 in long trade was aiming at 100 pips but ended BE.

made a successful short trade now. some small loss in the morning. what i am trying to do now is to improve my R:R in all trades.

I have to adjust to trading just 3-4 hours a day. Opening trades at London makes no sense as I cannot manage them.

I am sure you will be adapted to the new environment very quickly😉

good luck

I also think so. Just need to adapt, improve entries and R:R per trade.

Before this DD I noticed that my average loss and average winner got same 1:1. It was the first time. I would like to move it into positiove territory and to maintain 50+ preferably 60% hit rate.

bigger bigger chicken dinner!!

>100 ticks great job😉

I am not happy. Bad trading actually. must calm down and get patient again. The problem is that with schedule changes my plan has changed too. I need to come and wait for another development cause I am coming into middle of what was developing at night. But it is changing.
I will force myself to start being very patient to wait for trades with bigger pay out at least 1.5 for 1 risk.
I also think that 2% daily loss rule was premature, as I was pointed that i would not take my 102 pips trade had I followed the rule. But same size for all trades stays.

with a bit of patience I am sure I m capable to trade DD back and start baking cakes, not cookies.

one word - Patience! I have only 3-3 1/2 hours to trade so patience must be more than ever.
been late to nice move again. This is the time when i come to PC now.

today was slightly better.
I think daily target of 40-60 pips is just fine. again the most important thing is patience. first long was good but news volatility took me out at break even, was a very good call. second was sloppy and I lost it and the last I think I entered too late. could have had better entry just under 87.80.

Today It might sound funny, but I kicked my ass again. Probably got in love with big winners and stopped taking smaller winners. all my BE trades which were 3-4 went 40-60 into profit and i got only $0. which made me very angry and I lost ability to see what market was doing and started making mistakes.
I think that I should set my trade/ daily goal and stop looking for big winners except for very strong s/r areas that hold before. so I think 30-50 pips per trade would be just fine.
I know why this is happening. changed schedule and plan that I used cannot work cause i start much later and whatever guys were cooking before 6:00-8:00 was done and I am coming to new reality. from what i see I started getting handle over this too but messed myslef with profits taking today. I am going to adjust.

I understand very well what happens when you change certain the rules in the midle of the game. Going after big winners and forgetting about the smaller ones can have very nasty consequences. I tried to do the same and found out that it was a bad idea. I should stick to what was working for me before. 30- 50 pips is a very good target.

Yes, I turned very good day into nasty loss. before I lost it every trade but one loser was giving me at least 40 pips. I picked only one and the rest ended as BE. I will stick with 30-50 pips. 40 pips I see pretty regularly.

I think there is only few moments when more pips can be sought. Like my yesterday short form 88.00 and for example trades shorting failed break outs of 90.50

I am down today too, but started getting a footing as I feel it.
again, I was up 25-35 pips on my first trades but ended all BE, before Nymex opened than all hell broke lose. Incredible volatility. 5-15 min candles pretty much were useless, I started only getting what I wanted after moving to just 1 min which worked well this time. Nevertheless could not trade back losses incurred while getting i trades on 5 min.
I have started having idea of what it might be my new plan for new schedule. will be checking charts on weekend and put it down on paper.
First of all if I am looking for 40-50 pips daily I should not let trade go against my BE stop and I wonder how can I decide whether to close the trade or let itr run some more. I had trades 25-35 and they reversed and stopped me out. and some were trades that went a lot of pips. I wonder if 1 min chart can be used as one watching to close trade if price stops moving in my direction.
In any case I am cutting leverage down to $0.01 per pip and will bring it back to 0.02 after I have winning week.
Daily goal is 40-50 pips and I am going to close trades at profit whenever I feel they reverse. out of those 3 that got stopped at BE before Nymex non was actually a loser. price hit stop and went where I expected. may be I move stop too early. i usually move it after 15-20 pips in profit.

when I trade manually I create a shablon of future movement of the price until it reaches to my target. If this schablon fails then I try to exit as soon as possible with min loss or BE. I had it today on EURUSD. I was ecpecting a bumpy muve up. I entered the trade with pull back on 1 min chat but also monitoring 1HR for the schablon. it failed and I exit for a small profit.

ofcourse this is my stroy. I guess oil is much more volatil as far as I can see from Take/Loss pips and duration.

I guess new schedule will force you some but you will find the correct solution for that. Decreasing Lot size is a good idea.

good luck
walker

Yes, I need to cut size until my new plan according to new schedule starts working.
My biggest problem now is how to take profits.