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

[abhi_neth]

Hi All,
Thanks Kamlesh for this thread. Its most informative. I have only recently started getting to know more about commodity trading. Have been into stock futures so far. I am still reading this post (around page 28 for now, hope to complete it soon). In the mean while, I wish to ask a couple of questions, I hope you guys dont mind (if they are already answered somewhere in the replies).

1. This trade as shown in the last reply by you Kamlesh, suggests a short around $100 I believe, I see, that may very well happen before the market closes but it looks like the target may be achieved while our MCX is closed. So, do you guys take such trades where targets may be reached or situation might change while MCX is closed?

2. I got Broco Trader working for me but I am not able to get COMEX and NYMEX data in MT4, how are you guys getting data feed in MT4 (software provided by the MT4 site).

Thanks in advance, I am a regular to this thread now.

Personally I do not keep overnight position on MCX, if I take a trade based on international charts as the MCX position also contains rupee conversion value, & had bad experience with gap up/down opening on MCX, while the prices on international markets had remained same. So I sqoff at EOD & if on next day the prices have not moved much then re-enter.

In Broco trader, right click on the marketwatch window & select Show All to display all symbols. You have all symbols available there. In case, you do not know which symbol is for what, then again right click on the market watch window & select symbols, & you have the complete name of the symbols there.

Thx

 

[Kaboooooom]

In Broco trader, right click on the marketwatch window & select Show All to display all symbols. You have all symbols available there. In case, you do not know which symbol is for what, then again right click on the market watch window & select symbols, & you have the complete name of the symbols there.

Thx

I am sorry, I didnt clarify properly. I got Broco Trader working with NYMEX and COMEX. I wanted to use the plain MT4, I dont like Broco's outlined candles, didnt see a setting to remove the outlines of the candles either, its making it difficult to see the chart for me. Changing the color of the candle only changes the 'fill colour', the outlines remain in the same horrible green or yellow colour. I want plain old candles on black background.

Now that you answered this, I want to add one more question regarding softwares. I have looked on traderji and otherwise also, but didnt find proper answers. Are there any other options for charting/TA softwares to see live intraday COMEX and NYMEX data. Free or Paid (but not too much). I know about esignal and Ninja Trader but they are kinda costlier. All in all, I ll be happy with Meta Trader 4 with COMEX and NYMEX data feed. I see Kamlesh's charts read 'MT4'.

 

[SavantGarde]

Kaboooooom,

Right click with the cursor on the Chart and get into properties dialog.... where you change the 'Bar Up' & 'Bar Down' colours to the same as your fill....& kaboooooom.........it's done....

SG

I am sorry, I didnt clarify properly. I got Broco Trader working with NYMEX and COMEX. I wanted to use the plain MT4, I dont like Broco's outlined candles, didnt see a setting to remove the outlines of the candles either, its making it difficult to see the chart for me. Changing the color of the candle only changes the 'fill colour', the outlines remain in the same horrible green or yellow colour. I want plain old candles on black background.

Now that you answered this, I want to add one more question regarding softwares. I have looked on traderji and otherwise also, but didnt find proper answers. Are there any other options for charting/TA softwares to see live intraday COMEX and NYMEX data. Free or Paid (but not too much). I know about esignal and Ninja Trader but they are kinda costlier. All in all, I ll be happy with Meta Trader 4 with COMEX and NYMEX data feed. I see Kamlesh's charts read 'MT4'.

 

[Kaboooooom]

Kaboooooom,

Right click with the cursor on the Chart and get into properties dialog.... where you change the 'Bar Up' & 'Bar Down' colours to the same as your fill....& kaboooooom.........it's done....

SG

Now I just feel little stupid. He He, thanks ...
But still, what is Kamlesh and all of you other pros are using (besides the esignal website charts). Just curious.

 

[SavantGarde]

Don't think any of us are using....eSignal.... think we are all comfortable with MT4......

No need to feel sheepish.... in 2004 I didn't even know what a Lower Circuit & Upper Circuit was..... Hehehehee

SG

Now I just feel little stupid. He He, thanks ...
But still, what is Kamlesh and all of you other pros are using (besides the esignal website charts). Just curious.

 

[uttamkamlesh]

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[uttamkamlesh]

So as per that, we hv completed A correction at 97.13 & presently we are in B correction wave. Is that correct?

Labeling of corrective waves A, B, C, X etc. is very difficult part of Elliot wave theory. It is far easier to recognize Motive waves, we need them only where major movement is.

 

[uttamkamlesh]

Hi All,
Thanks Kamlesh for this thread. Its most informative. I have only recently started getting to know more about commodity trading. Have been into stock futures so far. I am still reading this post (around page 28 for now, hope to complete it soon). In the mean while, I wish to ask a couple of questions, I hope you guys dont mind (if they are already answered somewhere in the replies).

1. This trade as shown in the last reply by you Kamlesh, suggests a short around $100 I believe, I see, that may very well happen before the market closes but it looks like the target may be achieved while our MCX is closed. So, do you guys take such trades where targets may be reached or situation might change while MCX is closed?

2. I got Broco Trader working for me but I am not able to get COMEX and NYMEX data in MT4, how are you guys getting data feed in MT4 (software provided by the MT4 site).

Thanks in advance, I am a regular to this thread now.

Welcome to the thread!

1. Commodity trading is much easier and Crude Oil the easiest.

2. Don't carry overnight trades. I usually trade with 3 lots. 2 i closed yesterday at $90, one today , that's how i do it, margin of safety matters, market cannot ruin me even if it moves 5% overnight with one lot.

3. GCI MT4 is better than Broco, as per my feeling.

 

[uttamkamlesh]

Don't think any of us are using....eSignal.... think we are all comfortable with MT4......

No need to feel sheepish.... in 2004 I didn't even know what a Lower Circuit & Upper Circuit was..... Hehehehee

SG

SG Sir,.............thanx for your time and posts.......You inspire me.

...just to add from my side...............One year back i did not know what is a trailing stop loss order funda, have missed a couple of lacs of profits in the last bull market.

 

[uttamkamlesh]

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