Missed a Crude Long Opportunity Due to Size

I originally posted this in a private group last week. However as it is part my trading strategy and it will also relate to a post I am putting up shortly it felt important to reblog it here...

ORIGINAL POST 080816

initial idea

I've been watching crude for the past month or so "collapse" and twitter bang on about what a turd it is. This reminded me of something Paul Wallace (my coach) says: when everyone is certain, this is often the time to look the other way.

prep

Because this was a counter trend trade, technically it wasn't STAM (STAM is a method my coach has taught me and so am unable to go into details), but it fits all the parameters I like to see. This coupled with better than expected NFPs, an increased rig count and potential demand from India made a bullish engulfing pattern (at lots of support) on the daily chart very appealing.

issue

The size, even at 0.10 in a micro account meant a £300+ stop which didn't remotely fit my risk requirements. In the end I just took a screen shot and put a tweet out for my records.

I don't particularly want to go down a timeframe, for this kind of trade I want to stay long term. I was wondering if anyone knew if there is an alternative instrument I can trade which might let me trade smaller?


Tweet screenshot (D1 and W1)

Crude as of 1917 this evening (080816) (D1)