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

[coolcorner78]

Hi CC,

What one needs to do is check those Hourly Bars on the Chart for Trades.....to see why a trade was taken and why it was squared off.....that is how one can learn......It is not an easy way, needs a lots of screen time....
but with enough determination one will get there....!!!

SG

I did check about 10-15 trades, from the time I got today. Its really amazing to see the consistency. For much older trades, I have to download the data on my MT4, will do it soon and see more trades. (I thought I could see SL orders placed also when entered into a trade and how the trade was maintained, but its a trade book, but still its great). I did put your BB (20,3) and stoch (9,3,4) and the MA's (First checked 1H and then 15Mins). I could understand what BB and stoch was doing and why they were there (as I do use BB 20,2 and stoch 14,3,3 and few EMA's, but by using them does not make me good, as I said analysis good may be 80-85% but execution is almost ZERO , but I am still driven by something else), but did not understand what SMA's are doing (I don't think the trades I saw, the recent ones has got much/anything to do with SMA's).

It shows how amazing consistency one can have whether its real account or demo and not to over trade, trade the right signal and never let profits run into losses by managing the trade, take profits home, as even a little adds and not over trade again by re-enties....

SG, hats off to you!!

Cheers!! :cheers:

 

[TraderRavi]

@Amit

Look at ITC you got saved buddy!....it was a dangerous WW trade....

OI data suggests ITC can cross 230 soon.....ITC 220 CE is booming..

 

[SavantGarde]

Hi CC,

Don't bother checking on all trades cause there is more than 3300 closed trades.......will send you the read only pwd.... you can check it live.... I have no problems....haven't been very active on the International because one of my older 14 yr. Male doggy has been sick for a few days...and is insecure....!!!

Will send the pwd in the pm......

SG

I did check about 10-15 trades, from the time I got today. Its really amazing to see the consistency. For much older trades, I have to download the data on my MT4, will do it soon and see more trades. (I thought I could see SL orders placed also when entered into a trade and how the trade was maintained, but its a trade book, but still its great). I did put your BB (20,3) and stoch (9,3,4) and the MA's (First checked 1H and then 15Mins). I could understand what BB and stoch was doing and why they were there (as I do use BB 20,2 and stoch 14,3,3 and few EMA's, but by using them does not make me good, as I said analysis good may be 80-85% but execution is almost ZERO , but I am still driven by something else), but did not understand what SMA's are doing (I don't think the trades I saw, the recent ones has got much/anything to do with SMA's).

It shows how amazing consistency one can have whether its real account or demo and not to over trade, trade the right signal and never let profits run into losses by managing the trade, take profits home, as even a little adds and not over trade again by re-enties....

SG, hats off to you!!

Cheers!! :cheers:

 

[vinst]

Is SBIN a buy on daily TF as per UKB?

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click image for larger size.

regards,

 

[uttamkamlesh]

Is SBIN a buy on daily TF as per UKB?

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click image for larger size.

regards,

'HL' is incorrect unless market crosses HH....

trade WIPRO as posted yesterday...

 

[uttamkamlesh]

Hi CC,

Don't bother checking on all trades cause there is more than 3300 closed trades.......will send you the read only pwd.... you can check it live.... I have no problems....haven't been very active on the International because one of my older 14 yr. Male doggy has been sick for a few days...and is insecure....!!!

Will send the pwd in the pm......

SG

plz send pwd to me too...

 

[coolcorner78]

Hi CC,

Don't bother checking on all trades cause there is more than 3300 closed trades.......will send you the read only pwd.... you can check it live.... I have no problems....haven't been very active on the International because one of my older 14 yr. Male doggy has been sick for a few days...and is insecure....!!!

Will send the pwd in the pm......

SG

Yeah, cant go through all of them, I am checking out few trades here and there that are catching my eyes (Like GBP/USD, which was held for 2 days, 5 lots and 19 pips, GBP/USD is a freaking pair, it moves wildly, gives up/down 200 pips when move starts, trying to understand why 5 lots and 2 days for only 19 pips and most importantly risky pair). EDIT: Just checked this trade, looks like you were not around and didn't cover it

I understand, No probs take your time to get back to international markets. I will check out your live trades with your RO pwd. I am keen to see how the trades are maintained.

Thanks again.

 

[uttamkamlesh]

Hello Kamlesh,

Yes, you're right but one thing that this has not yet broken the level of 225. Actually I've bought 210 put @0.8 & waiting this to be a Rs. 8. May be my life's trade where I may earn 10 times return
Also see volume that is declining since that high spike day.

But yes, you are correct that one should not trade this WW. So even if I may gain on this trade, no addition will be made in my knowledge bank.

Other drivers are two important news...

1. Mr. Sukhani is also seeing something in charts that may bring ITC to 200 (as seen on CNBC & moneycontrol)

2. ITC chairman has sold 8.7 lacs shares @ 210. (as read at moneycontrol)



Let's see how this goes.

Regards,

Amit....plz read "Reminiscences of a Stock Operator"....about Jesse Livermore....i am sure you would benefit bigtime from this classic book...


Better trade would have been Sell of 230 Call from your side...time decay in is against you buddy!.

 

[SavantGarde]

If an exit with very little profit was made it was either because I thought it will give a loss if I didn't take whatever profit was their on the table....but it doesn't mean that I was right ...it is quite possible I misjudged it at that point of time.... or simply thought it may come down in about 10 min. and I needed to take a leak...that I would exit with teeny weeny profit....Don't laugh ...it is true...many a times just before rollover time I am sitting on some profit and think the swap is a negative swap.... even then I cut the position with whatever profit is available...and get back into the pair/commodity after the rollover....

One of the very big Bond Trader has a portable potty close to his chair....

SG

Yeah, cant go through all of them, I am checking out few trades here and there that are catching my eyes (Like GBP/USD, which was held for 2 days, 5 lots and 19 pips, GBP/USD is a freaking pair, it moves wildly, gives up/down 200 pips when move starts, trying to understand why 5 lots and 2 days for only 19 pips and most importantly risky pair). EDIT: Just checked this trade, looks like you were not around

I understand, No probs take your time to get back to international markets. I will check out your live trades with your RO pwd. I am keen to see how the trades are maintained.

Thanks again.

 

[piyush08]

Hello Kamlesh,


Other drivers are two important news...
1. Mr. Sukhani is also seeing something in charts that may bring ITC to 200 (as seen on CNBC & moneycontrol)

2. ITC chairman has sold 8.7 lacs shares @ 210. (as read at moneycontrol)

Let's see how this goes.

Regards,

Worst possible reasons for taking a trade. Sorry if I'm blunt. Rather worst possible reasons for justifying continuing to be in a trade.