Experts please update your trade setups daily with supporting technicals so that other traders can learn from experts.if possible please update before market open.
I think your idea will not benefit you.
Invest time in trading system making and trading psychology improvement.
I am suggesting a trading system to you. If you impressed give it a try.
Follow Simple EMA cross over of 10 and 40 in 5 minutes chart with price pivots breaching. Works good with Crude. If you follow this strategy in crude oil with 100 barrels for 1 lac capital with around 25 % drawdown you can earn upto 70 - 100 % returns per year.
where to keep ST and TP?
I will not keep any target but will close by end of the day.
I place stop @ EMA 40 +/- 20 ticks in Crude Oil and Trail the stop.
As per my past results I am getting 40 % success rate with 1:2 risk reward ratio.
Few more points I follow are
Will take positions only after 13:00 and will not take fresh positions after 21:00 and I will close positions @ 23:00.
I will not take new positions 1 hour before inventory report and after inventory report ( If I have already position will hold with Stop ).
what timeframe do u trade on?
5 minutes timeframe
Initially you can try Crude Mini contract , compared to reward , risk is less and also Span margin is very less , you can carry forward your position for multiple days, Normally i trade crude after 6PM