Making a living trading Copper

[Lambuking]

Ok Some context please ... what am I looking for in this chart....

 

[SavantGarde]

Ok Some context please ... what am I looking for in this chart....

Context is simple....being Long....you were on the right side of the trade... just marked it on the chart with Trailing S/Ls ...nothing much to read into it...!!!

SG

 

[Lambuking]

Context is simple....being Long....you were on the right side of the trade... just marked it on the chart with Trailing S/Ls ...nothing much to read into it...!!!

SG

Ok ... Thanks... it is a 15 minute chart right.... If you don't mind how do you decide Trailing S/Ls .... Is it a indicator you are using or a manual method that you might have perfected ....

 

[SavantGarde]

Ok ... Thanks... it is a 15 minute chart right.... If you don't mind how do you decide Trailing S/Ls .... Is it a indicator you are using or a manual method that you might have perfected ....

It is visual.....once in the Trade.... it is important to protect your profit & limit your loss....therefore one will use the Swing Lows + Some points to ride out the Trade.... some other TSLs are not because of the Swing Low... but a Bar Splice or Bar Split...Swing Lows in this case is not the classic 5 bar Swing Low...but a 3 Bar....!!!

 

[SavantGarde]

Anything above 423...I will look to close the Trade....and re-enter on pullback to the Blue MA...if it looks good....!!!

 

[Lambuking]

Have your system given an exit signal,I am guessing you are trading purely on MA, where as from the past 2 months from when i started actively trading, i could not understand how MA help make trading decisions, so i started trading pattern breakouts. So for this copper trade, as per my pattern system it has still some distance to cover.

MA are for long term trader ... they basically enter in a staggered fashion as long as the MA's are favourable and keep taking profits and re-entering on pull backs....Almost all the big funds track MA's even if they have different systems... MAs gives you losses but it will give you big profits if you have the patience and big pockets... Personally I hate them ... no patience and extremely small pockets ...

 

[Lambuking]

I love days like this .... As if all traders have met and decided ...don't care about fundamentals ... let's buy everything in sight ....:clap: ... lets see how long this lasts ....

 

[SavantGarde]

I love days like this .... As if all traders have met and decided ...don't care about fundamentals ... let's buy everything in sight ....:clap: ... lets see how long this lasts ....

One must be aware of the fundamentals that support commodities like copper for Positional Trading....fundamentals have improved for copper in the last couple of months....one would have witnessed an euphoric rise if EU crisis was not in the picture...guess another 15 odd months for things to settle down a bit....!!!

 

[SavantGarde]

Have your system given an exit signal,I am guessing you are trading purely on MA, where as from the past 2 months from when i started actively trading, i could not understand how MA help make trading decisions, so i started trading pattern breakouts. So for this copper trade, as per my pattern system it has still some distance to cover.

Positional Trade....is at 410.50 no exit yet....!!!

 

[Lambuking]

International markets still trading on a firm note though off highs .... Nearest resistance is around 430.50 ... will look to go long depending upon INR movement ...