CRUDE OIL 1 min trading system by OILFXPRO

Discussion in 'Energy Futures' started by oilfxpro, Dec 4, 2007.

  1. Hi folks

    This is a 1 minute crude oil trading system

    Place lwma 36,75 and 120 on charts

    Place indicator rsi 14

    Waddah attar explosion for metatrader or something similiar

    Charts 1 m

    Place minimum stop loss of 50 and a profit target of ATR

    Move to breakeven after 50 points and use tsl 50

    When 36 wma is above 75 wma and both of them are above 120 wma , rsi is above 50 and waddah attar explosion indicator shows 1/2 spikes of same colour , enter the trade.Look for trend confirmation before entry ie two succesive peaks for long

    Look to see support levels and check heating oil futures and other related intermarkets.Enter on the first pullback

    Exit on first sign of a weakening trend/end of day/end of day's trend/resistance

    Anybody trading this system please let me know how it is going and please post results.This system is posted to see if any members are trading something similiar

  2. Here is the image
  3. Do you know how this looks vs. xle or xom or cop equity charts as this might be a good scalp for a day trader like myself..

    Thanks -
  4. Hi

    I really do not know about your other markets so I can not make any comments.

    I think it is fine oil

    You can get free demo accounts and try it out

    Here is a day trading strategy that has been doing well

  5. Hi

    Here are auto entries today

  6. LOSSES are part of trading ..................most professional traders should have 50 % or mor more losing trades

    they make up the losses with positive expectancy of their systems
  7. That's open to debate for sure.

    "Should have 50% or more losing trades" sounds like a system in a drawdown.


    The CL has been great lately and you do not need to lose more than 50% in order to be a successful trader. Sure you can make money with a winning rate below 50%, but it's not necessary. I'm sure you would take your system as is if you could factor in a 50%+ win rate... I doubt many would say no thanks, I much prefer to lose more than 50% of the time.
  8. Brownfan

    I wish I could be a real trader with 80 % and 90 % hit rate using mechanical system entry and exits.It would be good for my ulcers

    Unfortunately all my profitable systems have win rates of between 30 to 55% , say average 42 % ............and low drawdowns of around 8% maximum , and each system has to produce 8% per annum

    I lose or breakeven 58% of the time but then I am happy with the profitability of my 10 systems

    This system is not fully tested ............but it does catch the trends and I think it can be adapted very well .

    I would like to run it on demo for a couple of months

    The more risk you take ,the higher the reward and the greater the blowouts.Capital retention is the most important aspect of trading in my books

  9. I get that the numbers MAY work with a winning % below 50%, but they can also work if above 50%.

    Your previous stated that a trader should expect below a 50% win rate to be successful.

    That's simply not true.

    You can win 60% of the time and make money. You can win 75% of the time and make money. Winning percentage is one part of the equation and by no means a be all, end all.
  10. You are correct

    Although systems may have 50% plus hit rates ,Traders should trade systems on the basis of 35% winning rate.Recently I saw a system of 50% hit rate +, it ACTUALLY performed at 30 % and blew everybody's accounts

    #10     Dec 6, 2007