Making a living trading Copper

[timepass]

I m not sure you can make money trading only copper , you have to look at other markets if you want to make money everyday, because not everyday you are going to get a trend.

I disagree. There are a lot of traders who trade only one scrip... only Nifty, only Reliance etc..

 

[Lambuking]

Dear ,

Determining the trend is not a problem. Statistically any market will consolidate or trade sideways 70% of the time. That means the trends will not occur everyday.

So if you want to make money everyday , YOU MUST LEARN TO TRADE SIDEWAYS MARKETS.

and be careful trading sideways markets. Sideway markets means that smart money is either accumulating or distributing their positions. Using volume analysis will help a little, but you never know what smart money will do.

My suggestion is you wait till congestion or sideways markets ends , then the smart money will either mark up or down the price , this mark up or down is what you call the trend.

Most people get slaughtered trading sideways markets. Market usually move in below pattern

consolidate - breakout - trend - consolidate - repeat.

you make most of your money in the breakout - trend part. So stick with that.

I m not sure you can make money trading only copper , you have to look at other markets if you want to make money everyday, because not everyday you are going to get a trend.

Sorry for the long write up. but i see many people getting slaughtered trading with smart money, that's why its called "smart" money. They know how to take your money.

Good luck!!

Thanks for the wishes :thumb:... Although I am looking to master one script now before diversifying....and also I plan to be the Smart Money

 

[praveen taneja]

Dear ,

Determining the trend is not a problem. Statistically any market will consolidate or trade sideways 70% of the time. That means the trends will not occur everyday.

So if you want to make money everyday , YOU MUST LEARN TO TRADE SIDEWAYS MARKETS.

and be careful trading sideways markets. Sideway markets means that smart money is either accumulating or distributing their positions. Using volume analysis will help a little, but you never know what smart money will do.

My suggestion is you wait till congestion or sideways markets ends , then the smart money will either mark up or down the price , this mark up or down is what you call the trend.

Most people get slaughtered trading sideways markets. Market usually move in below pattern

consolidate - breakout - trend - consolidate - repeat.

you make most of your money in the breakout - trend part. So stick with that.

I m not sure you can make money trading only copper , you have to look at other markets if you want to make money everyday, because not everyday you are going to get a trend.

Sorry for the long write up. but i see many people getting slaughtered trading with smart money, that's why its called "smart" money. They know how to take your money.

Good luck!!

:clapping::clapping::clapping::clapping::clapping:

one of the best post I have ever read in any forum Marvelous!!!!!!!!!!!!!!!!!!

 

[TraderDude]

I disagree. There are a lot of traders who trade only one scrip... only Nifty, only Reliance etc..

Sure there are traders who trade only one scrip, that's because they have learned to trade both trending and ranging markets.

For newbies , it's best to stay out of ranging markets.

 

[kunal2807]

It is very much possible to live trading only one market,provided that very market is technically driven.Many commodities are driven by demand & supply parameter,giving least importance to technicalities.Thus it is difficult to take out profit consistently on a long term basis.On the contrary,stocks are much more technically driven where you can hold a particular scrip for a considerably longer time and take maximum profit out of it.It is absolutely my personal view,which may not be correct.Experienced traders can explain it better.

 

[Lambuking]

International market started with a gap up based on Greek election result but momentum was lacking and the gap has been completely filled now. It will be better to sit out the initial hour of trade to let the dust settle down. Going by the existing trend looking to go Long. Will re-evaluate after the first hour of trade.

 

[Lambuking]

International market started with a gap up based on Greek election result but momentum was lacking and the gap has been completely filled now. It will be better to sit out the initial hour of trade to let the dust settle down. Going by the existing trend looking to go Long. Will re-evaluate after the first hour of trade.

International copper prices have given up all their gains and trading in negative territory now. Need to look at USD/INR prices now before taking a trade in MCX. Will most probably go short now.

 

[Lambuking]

International copper prices have given up all their gains and trading in negative territory now. Need to look at USD/INR prices now before taking a trade in MCX. Will most probably go short now.

Indian prices have opened Firm Helped by USD/INR. Slight Bounce in International prices of copper too. Going Long. Trying To get an entry at 417.75. Let's See.

 

[Lambuking]

Indian prices have opened Firm Helped by USD/INR. Slight Bounce in International prices of copper too. Going Long. Trying To get an entry at 417.75. Let's See.

Bounced rightoff Intraday Support at 417.80. Shouldn't have gone greedy for 5 paise. :annoyed: Let's see If I can get a better price .Difficult considering the way INR is crashing after RBI decision. However International prices are range bound. The jump to 419.50 is all due to INR Crash. Let's see what happens.
Trying to go Long at 419.05.

 

[praveen taneja]

I am short on copper at 419.95 with 420.25 sl tgt 419.05