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

[abhi_neth]

Remind me to upload a few tracks by GUS GUS.... Let me know if you want some tracks by Fibonacci Sequence from their album called 'Numerology'

SG

That would be great.

 

[uttamkamlesh]

Uploaded with ImageShack.us

 

[uttamkamlesh]

Crude found resistance at DR3, just above was Monthly Pivot.

 

[abhi_neth]

Crude found resistance at DR3, just above was Monthly Pivot.

Kamleshbhai,

Don't you think that from now on wards EW counting becomes a bit confusing? Whether the current move is the start of a new trend or whether it is wave 4 of wave C. Do you think that it is better to go by trendlines than by EW.

IMO, looking at the nature of the wave looks more like an impulse wave.

Thx

 

[uttamkamlesh]

Kamleshbhai,

Don't you think that from now on wards EW counting becomes a bit confusing? Whether the current move is the start of a new trend or whether it is wave 4 of wave C. Do you think that it is better to go by trendlines than by EW.

IMO, looking at the nature of the wave looks more like an impulse wave.

Thx

Yes Elliot wave count is generally confusing, but here strong candles reduce the possibility of W4 of WC. It's an impulse of new wave count.

I differentiate it by Wave Personality.

 

[abhi_neth]

Yes Elliot wave count is generally confusing, but here strong candles reduce the possibility of W4 of WC. It's an impulse of new wave count.

I differentiate it by Wave Personality.

So we can change our outlook to take long trades on correction than shorting on rally?

 

[uttamkamlesh]

So we can change our outlook to take long trades on correction than shorting on rally?

1. Sell Pull back rally as shown. That i would take.

2. Also, you are absolutely right till BRL Kiss.

Also, S&P500 has turned up till BRL there. Crude moves with S&P500.

3. Tomorrow, if you find crude at 96 go long with 15 min stoch bullish cross, Stop swing low formed.

 

[uttamkamlesh]

Money Management

Phase 1.0 Demo trade first and triple three accounts in a row (i.e. $10k to $30k thrice)
Hossain Harnekar……………Millionaire Traders

Phase 2.0 Real account - Initial trading capital: Rs. 50k.
Trade ONE contract till you make the capital Rs. 150k.
Meanwhile withdraw money all above Rs. 75k on weekly basis.

Phase 3.0 Initial trading capital: Rs. 100k. No. of contracts is TWO.
Now you can do pyramiding and scaling out making trading easier now.
Increase the account to Rs. 300k.

Phase 4.0 Similarly, increase the lot size to THREE, then FOUR…..finally TEN.

Now only, you may become a full time trader!!

I am in Phase 4.0 after 3.5 years.


Disclaimer: These are my personal views, any other views cordially awaited.

 

[Kaboooooom]

Your Money Management View is awesome, I love it.

Could you please also give your Time Management view (for working professionals/students). I always wonder, how do you manage to keep a check on the price charts and trades along with your day job. I find myself thinking about whats happening if I take a trade and am not at a computer and if I am at the computer, I keep looking at it all the time which puts the rest of the life/responsibilities in pending mode. Kinda hard to not look at whats happening with your trade and focus on other stuff.

Please let us know, how you manage it. I read what you said earlier, that you look at it in the morning and then at night? How do you do that?

 

[SavantGarde]

Am sure Kamlesh will add his own.... to your overall query...!!!

...It comes with building sound foundation...and having enough faith in your Strategy/System....& knowing the idiosyncracies of it.

SG

Your Money Management View is awesome, I love it.

Could you please also give your Time Management view (for working professionals/students). I always wonder, how do you manage to keep a check on the price charts and trades along with your day job. I find myself thinking about whats happening if I take a trader and am not at a computer and if I am at the computer, I keep looking at it all the time which puts the rest of the life/responsibilities in pending mode. Kinda hard to not look at whats happening with your trade and focus on other stuff.

Please let us know, how you manage it. I read what you said earlier, that you look at it in the morning and then at night? How do you do that?