Manish Damani

[TraderRavi]

check your data too sir. expcted is different.

its ok as per this...http://www.forexfactory.com/calendar.php

 

[MANISH_DAMANI]

its ok as per this...http://www.forexfactory.com/calendar.php

ok. I am also member of that forum. But I follow forexpros.com. Well everything is right because neither me and you can predict inventory we can interpret only.:lol:

 

[TraderRavi]

ok. I am also member of that forum. But I follow forexpros.com. Well everything is right because neither me and you can predict inventory we can interpret only.:lol:

but as per this.....:lol:
Investing.com - U.S. crude oil inventories rose less-than-expected last month, official data showed on Wednesday.

In a report, Energy Information Administration said that U.S. Crude Oil Inventories rose to a seasonally adjusted annual rate of 1.314M, from -11.120M in the preceding month.

Analysts had expected U.S. Crude Oil Inventories to rise 1.469M last month.

 

[animbo]

gasoline inventories data rose from expected

7.412M vs 2.325M

 

[MANISH_DAMANI]

gasoline inventories data rose from expected

7.412M vs 2.325M

yes sir, so..........

 

[soft_trader]

its not -1.314m. Its +1.314m who has given this data.He has mis- written

Ops how you have interpret data see it properly again in website correctly written. Its your first time kya for data directly. Red because data is negative for crude. Expected also not negative there. Check it .

Sorry my mistake. I used "-" as hyphen/dash. Not as a minus sign.

Anyway please look at this:

The data came is lower than forecast. But still crude falls. Any reason, or I am missing something again?

 

[subratdas]

Dear ST Sir,
I am very new to commodity trading . I am planning to start trading in energy. please let me know the platform which is better in terms of service and brokerage. Also, please let me know the minimum margin required for starting the trade.

Thanx/Subratdas

 

[MANISH_DAMANI]

Sorry my mistake. I used "-" as hyphen/dash. Not as a minus sign.

Anyway please look at this:

The data came is lower than forecast. But still crude falls. Any reason, or I am missing something again?

you are right bro. But you have not cared for previous negative data which is very very negative. Secondly technically crude is near its major resistance of $94. Thirdly for buy it should be less than expected and less than previous one than its be good rally. Thats why I am posting here so that who are trying to take my views not trapped. Bro logically you are right but this is market here we have to leave theories and follow what is happening in market. Some time market discount news earlier than data, some time after data, some time you also find it behaves negative to data and at that you trapped.Some times market also in overbought zone like now then also it could ignore data reaction all is disounted earlier. See the news like fiscal cliff, QE3 after anouncement in 2-3 days market start falling but news is postive because market has discount it earlier. So what its solution ? Charts. We have to follow real time charts that time so that direction of market can be seen and predicted. I am taking these data as reference and trade only as per charts. On news you have buy but you have not seen chart behaviour. There are many tricks to trade which you have to learn step by step or discover yourself. Its not that I be always in profit some time I have to loose. But stoploss help me to protect from deteriorate. Most important thing commodity trading is capital you are using High Capital High Chances of if know how to trade. If low capital then many time you get panic and you take wrong decision even its happens with me too. WHen I was trading with just rs 50000 capital even though I am able to make rs 10000 and above many times. But sometime market wont behave as per our expectation and we trap for 100-200 points what happend my capital is eroded. Now I have rs 30000. I know market will come down sooner or latter as per my experience . As I dont have much money to risk then square up or try to take risk to cover my rs 20000. In that a person loose all his money. Those using rs 100000 capital and not having experience much make your self happy by taking 10-15 points day in 1 lot. If you cross 1 lot limit then you see few days you capital eroded and finished in 10 days. See patient and knowledge two things required in every business. I am really sorry for you. But dont worry you will cover it but dont sale in hurry or buy in hurry. Learn from mistake is better. Even I know I will get 100-200 points when market rallied 500-600 points. But then also in one trade mostly I take 5-10 points. Because for big points we have to give stoploss and big loss.We are coming here to earn. So you can earn only when you are not gambling blindly. Next time within next 1 hour of data release dont trade. See my other post in other threads regarding trading crude there I have shared my strategies. Short when 2% + if your charts says and buy 2% - when your charts says. Take news as reference that if you are in profit then you can continue that trade. See The above posts I am again and again telling sell. My all calls are of sell. One guy has asked me is 5100 good for buy then what I replied dont buy let the sell signal come . After that crude has bounced 42 points and after confirmation I told sell 5135 with stoploss of 5154. Because chances of hitting stoploss is less as per me. So trade patientlly. You are no were wrong. Each and every thing is not possible to write everytime. You asked my how interpret data then told you that much. If you would ask me how to trade then I will see charts. Without watching charts I never. How much chats I am watching at a time. I am watching MT4, Forexpros.com, net dania and forexpros.com for news. THen mcx chart just for reference. Then I trade. I have mentioned basic tools here. Advance tools also required as I mentioned above but as a beginner you have to learn basic first. Yesterday was your first day to interpret data. First 2-3 weaks see impact how market reacts before data, at time of data and after data. Daily from broking firm I am chatting. They also post data on yahoo but I post them earlier those data before them. They write to data is +/-ve for dollar and +/- for commodities but even market behaving against data. Some time they have buy calls but I write them my view is sell because chart is saying that. In 100 days only 1 day chart can betray you due to news but we all here are not that smart enough to handle news properly atleast not me. News I am posting so that those who are not aware where they get that data should get allerted. Today also many data after 6 pm. So watch them properly from their. see how market bounce or fall many time in 1 short 20 points at the time of release of data.So lots of thing required it take me to learn 2 yrs in that period I lost everything 2 times. And then I reach here. You have to practice to increase your success. Hope in nutshell you would understand why even though you are correct then also you loose.You have seen only one parameter. Dont worry we try to cover it in 2-3 days.But you have to be patient and next time be more cautious.

 

[MANISH_DAMANI]

Crude could be sideways to negative today As rs/$ seems strengthen today and maintains its then again down fall possible on any rally below $94 sell with stoploss of $94 again.Better trade in evening so more points added from now 12 hours I am watching crude with negative so use rally for sell as above mentioned.For intraday-
Crude - PV $93.17, R1/2/3-$93.67/94.13/94.63. S1/2/3-$92.71/92.21/91.75
Gold- PV- $ 1658.23, R1/2/3-$1665.27/1672.83/1679.87. S1/2/3-$1650.67/1643.63/1636.07.
Silver- PV-$30.312 R1/2/3-30.578/30.822/31.088. R1/2/3-$30.068/29.802/29.558
Copper- PV-$3.6800 R1/2/3-3.6965/3.7225/3.7390 R1/2/3-$3.654/3.6375/3.6115
Disclosure- Above support resistance is driven by pre written sodtware I am using for trading take this as reference and use your wisdom before trade. What ever I am writing here is my personal view as like other memebers . I am not authorised person to advice.

 

[MANISH_DAMANI]

As per weakly charts SMA crude is currently trading just below 50 weak SMA, 100 SMA is at $94.64. Which can also be proven as hurdle. So 100 SMA also can be taken as stoploss too on any body wish.So be catious specially for long trade atleast let $ 94.64 to be crossed on weakly basis. Time to time strategy have to be changed as this is market.