Crude Oil Inventories ( COI ) impact
COI will be reported figure at 22:30. Setup a trading position when the time is 22:29. Note the current High and Low of the current candle stick.
High = 58.79
Low = 58.32
Place stop buy at 58.79 and stop sell at 58.32. When the time has come (22:30), it will hit one of the other position (In this case it hits short position). Wait until 5 minute has passed, then close the position manually at market price.
For news impact trading, put all the money you got in the port and open maximum allowable contract size
1 contract size requires $3,850
EP to SL = 0.47 tick = -$470
Commission fee = -$30 (per 2 times position)
EP to TP = 0.37 tick = +$370
Risk/Reward Ratio = 0.79
%ROI = 370/3850 = 9.61%
I have $50,000 in port
Maximum allowable contract size = 50,000/3,850 = 12.98 = 12 contracts
I will gain $370 * 12 = $4,440
I will lose -$500 * 12 = -$6,000