How to trade Commodities - Gold, Silver, Crude Oil, Natural Gas

[Kaboooooom]

Well, here is my view -
No wireless connection can compete with a stable wired connection. I myself am using Airtel wired broadband in South Delhi and so far it has been working fine. If Airtel is not able to provide you proper services (which is a little odd) then you should look for other wired ISPs like Reliance etc.

In between there is an ISP called Tikona (Tikona.in). They provide wireless connectivity but fixed connection. They install a wiress transponder at your location and a wire is attached from the transponder to the modem/router.

If only a mobile option is left for you (which is really hard to believe for Gurgaon) then here is my preference list -
1. Airtel.
2. Vodafone.
3. Idea.
4. BSNL/MTNL

I have no idea about Aircecell etc and I would not prefer CDMA operators like Reliance, MTS etc.

I have tested Airtel, Vodafone, Idea, BSNL and MTNL. The first two usually work flawlessly and Idea sometimes doesnt connect in 1 time but otherwise no problem in stability.
MTNL has the benefit of their unlimited offer (perhaps it will work in Gurgaon, and as far as I roaming is not applicable to data) of Rs 4500 for 6 months with unlimited download (actual limit of 200 gb per month and 800 gb overall). It gives varying speeds between 1.5 Mbps to 200 Kbps.
Except MTNL, all others I tested were on 2g but very true to their speed capability (stable downloads of 30KBps).

I tested these connections with my 3g dongle (and not through phone) but 2g connections (except MTNL for which I tested 3g).

I also have the impression that Aircell might also work very good.

3G data rates are enough to burn a hole in anyone's pocket (perhaps not for a pro trader such as yourself) and there are no unlimited 2g plans at present either. Most are Rs 150 for 2 gb download but if surfing etc is your only requirement, you can easily keep a separate card and top it up as needed.

I would once again suggest/implore you to explore a wired connection first (even if you have to go to BSNL .... errr.. shivers !!!!) as there is no comparison between stable Mbps (broadbands) and KBps (2g).

 

[timepass]

Tikona ?? Do they have their own satellite connections and bandwidth ?? They buy it from Reliance and so far Tikona's review in my town isn't very encouraging. I have known about Tikona for more than 1 year and am yet to meet any satisfied user.

 

[uttamkamlesh]

Hi Kamalesh Can i Buy Crude at this level for Intraday???

Man, don't trade real money till you cannot take trading decision yourself.......

 

[rkgoyal_98]

Kamlesh
Copper looking for short 123 formation looks like on daily chart

 

[vikrit]

I am in Gurgaon...earlier i had broadband of Airtel (speed was good) but very frequently they had wire connection issues and took too much time to repair the problem so on reco of a friend "Photon+ makkhan hai"...i purchased it but disappointed with the service....

:rofl:

photon+ is not bad actually, but problem with these cdma/2g/3g is plans, companies having no.s of plans with no.s of conditions. plenty of technical issues. area wise problems. like in maharani bag area vodafone don't have 3g coverage.

which tataphoton+ you are using cdma or gsm, gsm one they recently launched. (in unlimited 700 around, cap is 1gb, after that speed 70-115kbps)

dont go for tikona, in start & demo they will give you good speed, but afterwards pathetic.

it is true airtel FL broadband is best. may be in some areas service problem is there, & exit not easy but still it is good & cost effective if you use from one place.

if dont have problem in spending 450/- rs(approx) per gb then go for airtel 3g, or aircel 3g. in both speed 1.5mbps-2.5mbps. but first confirm they are having 3g network internet connectivity in areas you want to use.

if want to go for 2g, go for airtel (98per gb) but use 2g network only setting in data card. if will use 3g network then it will give capped speed of 120kbps, and in 2g network it will give 160-200 kbps. aircel 2g is also good, but connecting problem.

good way to find which one having better coverage in your area, buy idea datacard (7.2 mbps one cost 1250/- unlocked by shopkeeper) or vodafone datacard, unlock it, try different sims, stick to one which gives good speed.

but IMO best solution would be use fixed line or cable internet (sify), and keep the 2g/3g as a backup.

 

[wisetrade]

PREPARATION before placing the trade on Daily basis:

I already have Weekly charts, Support/Resistance levels memorized on all 4 commodities and know what it is doing.

1. Read Weekly (on Sunday) and Daily TA on the following link.
http://www.oilngold.com/ong-focus/technical/

2. Check economic calender here and note the times when important news can affect my market. Also US markets Open times.
http://www.forexfactory.com/calendar.php

3. Determine the 'TREND to trade With' on my time frame 5 min.
Dow Theory(HH-HL/LH-LL)/Trendlines/SMA

4. Apply my SYSTEM/Strategies to Crude, Gold, Silver and look for opportunities here.
http://quotes.esignal.com/esignalpr...chart.bardensity=LOW&x=27&y=23&chart.studies=

5. Now i watch live international charts here.
http://www.cx-portal.com/wti/oil_en.html

6. Now i wait for the opportunity to satisfy me completely to place the Entry order always along with a Stop Loss order. If i am scalping the breakout etc. i would place a profit booking order too.


Kamlesh

First of all a big thankyou for such a wonderful thread. i am new to commodity trades. I have few doubts , kindly help, and correct me.
1.the time shown in forexfactory site is GMT and we need to change it to IST before implementing.
2. There are so many options for a single commodity given in esignal charts, how to identify the commodity pertaining to mcx and also how to get the corresponding price on mcx. (with respect to price and size ie,mini etc )
I understand that the commodity market is still open when mcx is closed for the day, then do we first need to see the international commodity chart before starting our day with mcx, to see the previous trend in us market.
could you please guide what is the impact /probable impact of which news on which commodity, ( I hope i am making sense).

 

[uttamkamlesh]

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[uttamkamlesh]

First of all a big thankyou for such a wonderful thread. i am new to commodity trades. I have few doubts , kindly help, and correct me.
1.the time shown in forexfactory site is GMT and we need to change it to IST before implementing.
2. There are so many options for a single commodity given in esignal charts, how to identify the commodity pertaining to mcx and also how to get the corresponding price on mcx. (with respect to price and size ie,mini etc )
I understand that the commodity market is still open when mcx is closed for the day, then do we first need to see the international commodity chart before starting our day with mcx, to see the previous trend in us market.
could you please guide what is the impact /probable impact of which news on which commodity, ( I hope i am making sense).

1. Right to Login in FFactory you see clock....click on it....and set your time options with GST Off and +5:30 GMT, you will get time close to your PC.

2. CL #F - for Crude,
XAG A0-FX - for Silver,
XAU A0-FX - for Gold
HG #F - for copper...do Google search, you will get the links.

3. Read the whole thread as many times as you can afford if you want to milk money with commodities....most of your queries would get answered.

 

[wisetrade]

Thanks a millions. sorry to bother u with stupid questions. i will follow ur guidance. thanks and regards once again.

 

[coolcorner78]

but IMO best solution would be use fixed line or cable internet (sify), and keep the 2g/3g as a backup.

Totally agree with this. Fixed line primary and 3G as backup (In between/later you may need call and trade service )