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

[hills_5000]

Woked well. A question here. Just before the US markets opened and upto 30 in after that gold came under a bear attack. How does one manage along trade then. Because then all longs would have been stopped out. Only to see the trade back with a huuuuge pull up in 10 min bar leaving u no time to re enter..

Yes... Of course!!!!!

Let me know your doubts....

 

[mdrafi67]

@Adityaji,
ur GOLD WW pattern EPA got nailed today evening..............cheers!!!!!!!!! :thumb:...........keep rocking................cheers to WW AND UMS...........CHEERS!!!!!!!!!!!!!!!!!!!!!!!:thumb:

 

[adityasaraf007]

I know.... if anyone would look at those charts... it would feel very ordinary.... However, once combined with CANDLESTICK PATTERNS, they have a different charm.... Look for patterns like Hammer, Doji, Evening Star, Morning Star, Inside Bars on a higher TF, etc.... around these lines... This would filter out the trades for you automatically and also have a watch on volumes....

I am doing this on a casual basis for the past few months and I can feel the pulse of Nifty while watching.... I have other work to do, so I cannot sit for the whole day.....

I have found that this works very well with Indices.... I use this on a daily basis for Nifty and also tried it with BankNifty a while ago.... However, particular Stocks give less respect to these lines....

Give yourself a week..... Draw these lines on your favourite Index or Commodity till the next week and then observe Price Action around these lines for another week..... You won't be able to live without it.... This is particularly true for me....
Regards

 

[adityasaraf007]

Woked well. A question here. Just before the US markets opened and upto 30 in after that gold came under a bear attack. How does one manage along trade then. Because then all longs would have been stopped out. Only to see the trade back with a huuuuge pull up in 10 min bar leaving u no time to re enter..

Hi hills, as mentioned before, I already got stopped out earlier while following the Trendline.... However, if you where still in the trade, you should have kept your SL a bit lower than that Hammer-cum-Doji on the Hourly Chart (24th Oct 19:00 Bar as per GCI)... This is what I do.... However, different people may have different approaches....

Let me remind you that I am Paper Trading these commodities... Don't have a Commodities Account yet....

Regards

 

[adityasaraf007]

If someone is interested... have a look at this short-lived Thread which I had started earlier.... Couldn't continue it further due to some other commitments....

I would be very happy if it helps someone....

Remember one thing: We don't need to take all the trades, we just need to take high probability trades to make money

 

[adityasaraf007]

Ah... EagleOne thanking that post of mine.... you made my day.... Do share your views if you like....

Regards

 

[adityasaraf007]

Wishing everyone a Happy Choti Deepawali

 

[EagleOne]

Ah... EagleOne thanking that post of mine.... you made my day.... Do share your views if you like....

Regards

Nah, man, You made my day - thank you! I use H-lines myself. They are not very s*xy to look at like trendlines crisscrossing hither and thither, but they give you the most flexible and hasslefree trading.
Funny, Uttam says in his post that he can't 'comprehend' the idea. Well...the bloody idea is simplicity itself!

I might have missed your post, Aditya, but for the few spare minutes I had late last night to check for PMs and surf the TJ a bit. Came upon Kid's post regarding shorting Reliance, duly approved by Uttam. I was amused - thinking: Expiry day, all volatility, trendlines would get torn like paper...on top, Reliance is the favourite kicking boy of the market operators. The picture is complete. God save the Kid!

First I thought I should warn him. But then thought, how would he learn?

So, today I came back just to check out how Kid was doing, and saw your post.
Anyway, I will be seeing you guys whenever I get the time. Keep up the good work.
And I wish you all a very happy Diwali.

 

[adityasaraf007]

Ex-Post Analysis of Gold WW:

BRL-cum-WRB Breakout Scenario:

 

[uttamkamlesh]

Nah, man, You made my day - thank you! I use H-lines myself. They are not very s*xy to look at like trendlines crisscrossing hither and thither, but they give you the most flexible and hasslefree trading.
Funny, Uttam says in his post that he can't 'comprehend' the idea. Well...the bloody idea is simplicity itself!

I might have missed your post, Aditya, but for the few spare minutes I had late last night to check for PMs and surf the TJ a bit. Came upon Kid's post regarding shorting Reliance, duly approved by Uttam. I was amused - thinking: Expiry day, all volatility, trendlines would get torn like paper...on top, Reliance is the favourite kicking boy of the market operators. The picture is complete. God save the Kid!

I object to your language/intention mentioning me in the post.
Please run at least one thread for a while (you have 0 threads started) before being a cause for closure.

1. "Came upon Kid's post regarding shorting Reliance, duly approved by Uttam."
You explanation is AFTER THE FACT......it's anybody's guess, nothing special in it.

My call was BEFORE THE FACT and in a stock in which a call on 1 hr TF was to be traded next day(discontinuous chart).
I said to short it @849. It made Open=High at 853 and finally made a Low of 842.3. Not that bad.
I already have stated i don't like trading stocks unless they are trending in weekly TF making High Amplitude Swings, HH-HL etc.
I supported KID knowing the fact he is paper trading and often more interested in stocks.

Note my 'BEFORE THE FACT' call on NIFTY in post #633. It came true word by word.
So, when NIFTY is crossing all crucial 5200 mark how can one sleep on Reliance.

Copper has formed double bottom on Daily charts.
No point in shorting further. Only trade long if at all.

S&P500, DJIA have crossed resistance and rallying due to strategic short-covering.
I think if RBI raises rates by 25 bps then we are going to rally tomorrow in NIFTY in second half just to match international markets.
5200 is nearly certain to be conquered......Let's see.

2. "Funny, Uttam says in his post that he can't 'comprehend' the idea. Well...the bloody idea is simplicity itself! "
......Now, i request you to please run a fresh thread on it and produce a Comprehensive System capable of making positive money with 'before the fact' calls. Let everyone including me 'comprehend the 'simplicity' of the idea better.

FINALLY, i invite you for a healthy and open competition.

1. You give 10 live calls, i give 10 live calls, (minimum TF 60 min) all before the fact, with well defined Stop Loss, Entry and Exit.
2. Reasoning optional for you, though i would explain everything.
3. All of these trades we will produce within 10 weeks.
4. Then we will calculate the percentage returns.
5. If you win you take the responsibility of the thread.

These 20 trades would benefit everyone following this thread.

Kamlesh Uttam