Crudeoil Intradday Trades based on GANN Square 9 Strategy
- Thread starter rpsvinod
- Start date
Amit, It was a lot of perseverance but I never donned the 'specialist hat' ! The moment you wear it you start feeling the 'master' ! I have in the past and am at present and shall continue in future to be a 'slave' of the master, will dance to its tune always! 
I primarily use 15 minutes TF to trade but I start my month with 5 minute TF and if I am able to accumulate some profit I switch to 15 min. TF ! The change from 5 to 15 usually happens almost from the second day of trade in the month !
Basic reason being my commitments other than the market. I am sure my actions would have been very different had I been trading for my basic expenses.
I dont advocate changing TF as per market conditions for a simple reason I dont know what are "various market conditions" ! My believe is that barring some really BIG BIG BIG news or event nothing in a 5 min. or 15 min. chart is going to change by the time my Target of 10 points is hit. And for that I have my SL in place ! And moreover I am trading crude for few hours only, never the entire 14 hours its open for trade.
I suggest stick to your game plan! Let the market do it things and you do your thing. Market follows its own whims you follow your 'rules'!
A senior member did advise me not to trade near the time when Crude inventory figures are released !
I primarily use 15 minutes TF to trade but I start my month with 5 minute TF and if I am able to accumulate some profit I switch to 15 min. TF ! The change from 5 to 15 usually happens almost from the second day of trade in the month !
Basic reason being my commitments other than the market. I am sure my actions would have been very different had I been trading for my basic expenses.
I dont advocate changing TF as per market conditions for a simple reason I dont know what are "various market conditions" ! My believe is that barring some really BIG BIG BIG news or event nothing in a 5 min. or 15 min. chart is going to change by the time my Target of 10 points is hit. And for that I have my SL in place ! And moreover I am trading crude for few hours only, never the entire 14 hours its open for trade.
I suggest stick to your game plan! Let the market do it things and you do your thing. Market follows its own whims you follow your 'rules'!
A senior member did advise me not to trade near the time when Crude inventory figures are released !
just a small question what timing(few hours) you prefer for crude trading.
I trade crude because it has long trading hours. So whenever I get about an hour or more to spare I trade Crude. There is no fixed hour / time for me ! My first target is to bag 10 points and many days I simply stop after 10 points! As I said before , I trade regularly at irregular hours but with strict discipline and set rules !
I never tried to tread this territory to gauge the 'mood' of crude ! I sincerely feel it is not required also. This is a lay person's view , request you to kindly seek answer to this from Vinod sir or other seniors like Reddy sir who would be in a better position to answer.
Let me share my reasons for having this view that there is no need to gauge the trend before trading :
01. Overnight trend would be reflected in the opening price.
02. We are trading just 5 min or 15 min TF and that too for a 10 point profit which is too small a time period and a micro moneywise move to be affected by the overall 'mood' !
03. When we have an entry level a SL level and an exit level in place, why worry !
04. We are not carrying any overnight positions.
Let me share my reasons for having this view that there is no need to gauge the trend before trading :
01. Overnight trend would be reflected in the opening price.
02. We are trading just 5 min or 15 min TF and that too for a 10 point profit which is too small a time period and a micro moneywise move to be affected by the overall 'mood' !
03. When we have an entry level a SL level and an exit level in place, why worry !
04. We are not carrying any overnight positions.
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