Journal of a Maturing Trader

I am supposed to heal from emotional wounds in the coming days. Lose free. Let whatever is happening, happen. Natural Course of Action.

I am like a chart. Downtrend is over. I was punished for 14 years. N-War will liberate me for the coming future. I have the right to live a GOOD life. It was pre-destined. Equilibrium was in play. The balance of things.

Jainism says that our current suffering is a result of Past Life's bad karmas.

Hinduism says that prayaschit (atonement) can cure things. Bad deeds can be corrected by future good deeds. Scholars after scholars have accepted the concept of prayaschit.

Liberation is at play. Negativity will be released for the body and the mind. It is time for healing. It was supposed to be this way.

Let Natural Course of Action - take its course. Why the fear of losing the power! Stillness...

The last spike of US OIL (Crude Oil on Indian Exchange) has started. After this there will be a mega fall. I am expecting a 1000 points downwards movement in INR terms.

That's all pretty interesting, but what about your trading results?
What trades did you take? Were these trades profitable or not? What are the overall results now, are you in profit or loss?

That era is over. Laying it to rest.

I am exactly where I wanted to be - Institutional Trading.

I am currently in 6% drawdown.

I was in 22% drawdown due to mess-up on Budget Day (India) and Directional bias going wrong in Oil. I have recovered 16% in a week.

Tracking Gold for a Short.

Confident on the Direction (Short Bias).

Levels for shorting are mentioned on the attached chart.

*I lost my conviction for some time due to laziness. Trying to come back in action - FLOW.

This is in XAUUSD terms. I operate in the Indian Market (MCX - Multiple Commodity Exchange). In INR terms and due to market specific variations - my actual entry levels might vary slights. Currently the market is closed. Wait for it to open tomorrow morning.

Trade on Watchlist: Copper

**This chart is in USD Terms (CFD on Copper). I trade on MCX (Multiple Commodity Exchange) in INR Terms. Actual trade might be impacted due to market and instrument (Derivatives instead of CFDs) specific variation.

Further, I don't think that this trade will be ready tomorrow.

Crude Oil Strategy for Data Release and Events on MCX (Indian Exchange)

Strategy:
Long the current month future
Short the next month future
(*This strategy is well known to the regular traders. Specifics required for MCX for new traders in commodities are mentioned below)

Specifics:
Stop Loss: 8 points for both futures
Time of Entry: 2 minutes before the release

Back Tested Data (over 20 sample data releases):
10 times stop loss will be triggered on both sides or almost flat: No Major Movement
3 times 60 points profit: Major Movement
7 times 12 points profit: Minor Movement

Payoff:
10 *(-8) * 2 = -160
60 * 3 = +180
7 * 12 = +84
Net Payoff = -160 + 180 + 84 = 104*
*(Brokerage and Taxes extra)
**This first estimate of 16 points loss is conservative (max. loss on all events has been assumed, some of the events may be flat).

Will be testing this strategy in the LIVE market going forward. Will post the results in this thread.

Trades for Next Week:

EURUSD: Upwards Bias (DXY will come down)

Entry Point: 1.0667
Stop loss: 1.0600
Target: 1.0800

Trades for Next Week:

GBPUSD: Upwards Bias

Entry Point: 1.1985
Stop Loss: 1.1913
Target: 1.2170

Trades for Next Week:

USDJPY: Downwards bias (a big correction is on cards)

Entry Point: 134.45
Stop Loss: 135.12
Target: 132.91

Trade for Next Week:

Crude Oil:

Entry Point: 77.50
Stop Loss: 79.61
Target: 72.72

Trade for Next Week:

Copper: Upwards Bias

Entry: 4.0800
Stop Loss: 4.0450
Target: 4.1500

Trade for Next Week:

Zinc: Downward bias (after some upwards movement)

Entry Point: 279 (*all in INR terms)
Stop Loss: 288
Target: 261

Trade for Next Week:

Silver: Upwards bias

Entry Point: 21.45
Stop Loss: 20.95
Target: 22.48

Trade for Next Week:

Aluminium: Downward bias

Entry Point: 2496
Stop Loss: 2596
Target: 2287