lets have some fun with crude...!

[linkon7]

chief,

first, you have amazing clarity of thought.
second, you articulate it so nicely.

I have read most your threads and in your absence, i was thinking that you are a very successful trader. when i read that you have to go to work, it shocked me so much ( difficult to describe )

My work is what i enjoy. Its my own baby..my own business. Its a 450 sq ft cyber cafe that I had started that on 2002 and its still my passion. I employ 3 people. I spend 11 hours of my day there. Play counterstrike and pubg with kids who are my daughter's age...whole day. Help a lot of the elderly who are technologically challenged. Watch movies. Its basically the adda-khana of our neighborhood. But the whole monthly profit from that business cant pay my electricity bill.

For my daily and monthly expenses...I trade crude. But that's boring and doesnt excite me any more. Its necessary so that i can run my business.

 

[pannet1]

My work is what i enjoy. Its my own baby..my own business. Its a 450 sq ft cyber cafe that I had started that on 2002 and its still my passion. I employ 3 people. I spend 11 hours of my day there. Play counterstrike and pubg with kids who are my daughter's age...whole day. Help a lot of the elderly who are technologically challenged. Watch movies. Its basically the adda-khana of our neighborhood. But the whole monthly profit from that business cant pay my electricity bill.

For my daily and monthly expenses...I trade crude. But that's boring and doesnt excite me any more. Its necessary so that i can run my business.

Oh. I get it now.

i like your passion, but please try to run it profitably. i dont have the necessary qualification to advise you. this is just a wish.

I met one successful trader and he knew someone who is trading one of your methods (or atleast its part) and paying advance tax every month. incidentally no one in the town pays advance tax. so he is very famous in the dept

 

[linkon7]

Oh. I get it now.

i like your passion, but please try to run it profitably. i dont have the necessary qualification to advise you. this is just a wish.

I met one successful trader and he knew someone who is trading one of your methods (or atleast its part) and paying advance tax every month. incidentally no one in the town pays advance tax. so he is very famous in the dept

Wealth Accumulation cannot be the objective of any happy life. I have friends who trade 2500-3000 qty in nifty and financially they are doing very well. But ask them to come to Europe for 40 days tour or a week long Goa trip, they dont have time.

There was a time when i used to manage funds. It was giving very good money but also a lot of stress. When i stopped trading, it was because that stress was not making me happy.

When I resumed my own business, It made me realise what I was missing. Whats the point of making money when you dont have time to enjoy life.

Money is like the petrol in your car... Without it your vehicle wont run. But having a tank full doesnt ensure a memorable ride.

 

[doss186]

how do you get tick data, which data provider

I'm getting my data from valvenet technologies most of the time datafeed is good sometimes they fail when market is running fast. At those time instead of blaming them I just square off my positions and come out of market.

 

[crudeonly]

Sir please explain me the calculation in details I am going on but I am not understanding the calculation. Please help me. with examples. I will be very thankful to you.

Hi beeru73 , These are told by Linkonji in first 3,4 pages posts ,
(1) we are calculating lowest full day range in previous 7 days ( NR7 low ) , using this for possible tgt
(2) will watch for first 1 hour range and where it opened comparing to previuos close , that gives todays bias or sentiment whehtwr it bullish or bearish or in sideways ,
(3) for trend identification Linkonji using 36 donchain and trade execution by 10 donchain , ie , if price touching 36 high bandline then again touching 36 high bandline with making new high , then will look for longs by waiting for 10 donchain low bandline to hit where taking long with days low as sl , and same reverse for short trades .

, i am also newbie started following Linkonji , posted here what i understood till now from Linkonji's thread

 

[crudeonly]

Also Linkonji is having eye on WTI crude charts for clarification as our MCX charts and WTI charts having some trading period gaps to be filled with our opening time , which will be eventually adjusted in 1st 1 hr , also wacthing USD/INR for huge gaps as it will affect mcx crude due to changes in price value wit Rs .

 

[beeru73]

We as traders play with probability of a pattern to repeat itself. The pattern here is the daily range. If the narrowest range in the last 7 days is 93 points... then we can expect it to move atleast 93 points whole day. We dont know which direction it will move. All we know is there is high probability that we might travel 93 points.

Some days..we test the HOD and then LOD and then HOD... and then LOD... and so on... range is expanding here but on both sides... end of the day..we might get a 93 points range... but its not in one direction.

Somedays, we continue to move up and we make higher high and higher low... then from the low of the day... we add 93 points and target that distance for our longs. Same things with shorts...

if the market is bearish..then the opening range high is rarely tested and we drift down whole day... we target 93 points from the high of the day as our short target.

This helps in getting a high reward for every point risk we take. If i am risking 15 points.. and i can make 90 points... then i am trading with a 6 RR... That translates to every winner of mine can wipe out 6 losers... thats means.. even if i manage to get 25% of my trades right.. i still maintain positive expectancy from my trades.

Sir how to get that 93 points. and how to calculate please explain. If some we get more than 150 points on that what we have to do

 

[linkon7]

Also Linkonji is having eye on WTI crude charts for clarification as our MCX charts and WTI charts having some trading period gaps to be filled with our opening time , which will be eventually adjusted in 1st 1 hr , also wacthing USD/INR for huge gaps as it will affect mcx crude due to changes in price value wit Rs .

Today is a good example on how our price on MCX behaves wrt WTI...when USD-INR shifts the whole range....

USD has jumped ..

WTI price... remains flat...

Our Price is showing bullishness...

 

[linkon7]

We got our first red candle... after HOD hit.... we are now short 50%... SL remains at 3625... We wont use the SL hit to go long.... simply because we can see the structure is short.

We would rather wait for the next red candle to go short...if our SL gets taken.

 

[crudeonly]

Sir how to get that 93 points. and how to calculate please explain. If some we get more than 150 points on that what we have to do

the abv is last 7 days range , here 10.1.19 is the lowest range for last 7 days , so we are taking that minimum range and expecting that range in todays move , as described by LInkonji in post number 218 .