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MCX Intraday Crude Oil Trading system ( for Paper Trading)

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Crude Oil  offers high LIQUIDITY  and excellent opportunities to PROFIT  in nearly all market conditions. It offers two unique advantage :-- 01. Extremely competitive spreads 02. Excellent Leverage . Zerodha offers up to 40 x leverage on BO/CO. DM @bhansaliMds for any inputs. 1. Work on 15 Min. Candlestick Chart of Crude Oil – MCX 2. Locate highest volume bar between 10 AM to 5 PM 3. Pen Down Traded Volume ( X ) of that bar. 4. Multiply this volume by 2 ( =2X ) 5. Watch live charts after 5PM for the candle having 2X or above volume. We call this candle – Trigger  Bar ( TB) 6. Add 5 points as buffer before placing Buy and sell order on TB . 7. Keep Risk Per Trade ( RPT ) constant. 8. Once one order trigger , other order will work as Stop Loss Order. 9. Exit at End of Day or 1R   
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Know your Orders

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There are many ways you can buy and sell using different types of orders, and each way serves a purpose. Here are the basic trading order types, and when you will want to use them. Allowing market to hit your order ( trigger your  entry ) is KEY learning in my trading journey. 01. Market Orders : Simplest order type to quick buy and sell. The issue with market orders is that you don't know the exact price you are buying or selling at.Sometime this may results in big slippage. 02.Buy Limit Order : This order is place below the current price and filled only at or below the limit price .                                                                                                                ...
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Trading Rules of Mark Weinstein

Trading Rules of   Mark Weinstein - 1. Always do your homework. 2. Don't be arrogant. When you get arrogant, you forsake risk control. The best traders are the most humble. 3. Understand your limitations. Everyone has limitations—even the best traders. 4. Be your own person. Think against the herd, as they must lose in time. Don't trade until an opportunity presents itself. Knowing when to stay out of the markets is as important as knowing when to be in them. 5. Your strategy has to be flexible enough to change when the environment changes. The mistake most people make is they keep the same strategy all the time. They say, "Damn, the market didn't behave the way I thought it would." Why should it? Life and the markets just don't work that way. 6. Don't get too complacent once you have made profits. The toughest thing in the world is holding on to profits. That is because once you have attained a goal, you then set a second goal that is usual...
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