I'm lucky
- Thread starter tla666
- Start date
To trade oil, with 1% risk which is $1000 you need an account size of $100,000
Oil has contract unit of 1000 so a $1 move $1000 and 50 cents is $500
if you on the wrong size of the trade..and account is only $5000, your down 10% in minutes due to high volatility of trading oil
Maximum risk is 3%
Too many traders trade oil with account size of $5000 and wonder why they blow up.
Oil has contract unit of 1000 so a $1 move $1000 and 50 cents is $500
if you on the wrong size of the trade..and account is only $5000, your down 10% in minutes due to high volatility of trading oil
Maximum risk is 3%
Too many traders trade oil with account size of $5000 and wonder why they blow up.
For real traders don't post when your trading real money .paper trading who cares.
how big is your account?
I been trading crude oil just fine, keep my risk at $200-$250 per trade. Pretty easy too, just use limit order and wait for entry, put the stop where it needs to be.
If you want to post a diary to keep discipline, post your progression of making your 103 points in a day, like with charts showing your entries and exits.
Otherwise this will just be your own circle-jerk of assumed trading prowess. I mean after all, to make 100 points in something like Brent or CL, it would have to move in a range of $100 per bbl. Because $1 is a point. So if we range 20 points in a day 5 times, you captured the full range up and down those 5 times?
Jeez, is CL doing that these days?
From the May CL crash to today on June it's only a 63ish point range?
Or did you mean 103 ticks?