How to trade Commodities - Gold, Silver, Crude Oil, Natural Gas
- Thread starter uttamkamlesh
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Hey Uttam...when I mentioned this yesterday... you had mentioned that it would be prudent not to go long ... so why did u pick calls ?... It was very tempting... but I could see no reason for our markets to go up... and the EU mkts were just quiet when we were moving up....as were the US futures ... so it was an ideal case to book longs at EOD...and carry conservative shorts...which purely by settlement price would have given you a good M2M profit.. ... 
Do you guys use the VWAP on GCI ? ... on 5 min time frame its a great indicator which works very well in markets these days... AFTER 2.45pm... !!
Do you guys use the VWAP on GCI ? ... on 5 min time frame its a great indicator which works very well in markets these days... AFTER 2.45pm... !!
Hey Uttam...when I mentioned this yesterday... you had mentioned that it would be prudent not to go long ... so why did u pick calls ?... It was very tempting... but I could see no reason for our markets to go up... and the EU mkts were just quiet when we were moving up....as were the US futures ... so it was an ideal case to book longs at EOD...and carry conservative shorts...which purely by settlement price would have given you a good M2M profit.. ...
Do you guys use the VWAP on GCI ? ... on 5 min time frame its a great indicator which works very well in markets these days... AFTER 2.45pm... !!
Do you guys use the VWAP on GCI ? ... on 5 min time frame its a great indicator which works very well in markets these days... AFTER 2.45pm... !!
How you use VWAP indicator?...
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I ll send it to you... VWAP = Vol Weighted Avg Price
After 2.30 pm... if the diff between VWAP price and nifty on GCI is more than 25-30 points then be alert.... actions starts after 2.45 pm when the intra day guys have to square off.... the guys who are on the wrong side of the trade ...
The price always moves away from the VWAP price after 2.45 PM... which means if the price is above the VWAP price ( like today ) then it will continue to go up.... stall....then go up again ..with max 10-12 point retracements....
The real action comes after 3.15/3.20 pm..when the price moves away further... when the non auto square brokerage firm guys have to square off ...and are waiting ..hoping to get a better price .... which they never get and you squeeze the maximum out of your profitable position..by squaring it off just before close.... and that means in the last one minute...
This works well a lot...but cannot be standalone indicator...
After 2.30 pm... if the diff between VWAP price and nifty on GCI is more than 25-30 points then be alert.... actions starts after 2.45 pm when the intra day guys have to square off.... the guys who are on the wrong side of the trade ...
The price always moves away from the VWAP price after 2.45 PM... which means if the price is above the VWAP price ( like today ) then it will continue to go up.... stall....then go up again ..with max 10-12 point retracements....
The real action comes after 3.15/3.20 pm..when the price moves away further... when the non auto square brokerage firm guys have to square off ...and are waiting ..hoping to get a better price .... which they never get and you squeeze the maximum out of your profitable position..by squaring it off just before close.... and that means in the last one minute...
This works well a lot...but cannot be standalone indicator...
But we cannot use VWAP in MT4...... as none of the MT4 Brokers (GCI, Broco, BFD) provide correct volumes..... And, as Volume is the main input for VWAP, it would be incorrect in MT4....
However, in most probabilities, it should be available in your Broker Terminal (Through which you take a real trade)..... Look out for a column field called VWAP, ATP, Average Trade Price, Weighted Avg Price or by some other similar names....
And for more information on how to use it and psychology behind it..... Look out for ST Sir's Thread "Thoughts on Day/Swing Trading" in Equities>>Intraday Section of this Forum....
Look out from this post onwards......
However, in most probabilities, it should be available in your Broker Terminal (Through which you take a real trade)..... Look out for a column field called VWAP, ATP, Average Trade Price, Weighted Avg Price or by some other similar names....
And for more information on how to use it and psychology behind it..... Look out for ST Sir's Thread "Thoughts on Day/Swing Trading" in Equities>>Intraday Section of this Forum....
Look out from this post onwards......
For markets which are 24/5 Code will need to be reset for start of the day for Forex and separately for Indian market and therefore one will end up renaming the second one for our market...it is what the biggies rely heavily for order book flow...it is a definite edge once you get use to it.
SG
SG
But we cannot use VWAP in MT4...... as none of the MT4 Brokers (GCI, Broco, BFD) provide correct volumes..... And, as Volume is the main input for VWAP, it would be incorrect in MT4....
However, in most probabilities, it should be available in your Broker Terminal (Through which you take a real trade)..... Look out for a column field called VWAP, ATP, Average Trade Price, Weighted Avg Price or by some other similar names....
And for more information on how to use it and psychology behind it..... Look out for ST Sir's Thread "Thoughts on Day/Swing Trading" in Equities>>Intraday Section of this Forum....
However, in most probabilities, it should be available in your Broker Terminal (Through which you take a real trade)..... Look out for a column field called VWAP, ATP, Average Trade Price, Weighted Avg Price or by some other similar names....
And for more information on how to use it and psychology behind it..... Look out for ST Sir's Thread "Thoughts on Day/Swing Trading" in Equities>>Intraday Section of this Forum....
Oh........ I just had Nifty on my mind...... Completely forgot that this thread mainly belongs to Commodities and that toooooooo International Charts....
So stupid of me.... Considering that I have been a part of this journey from almost the very beginning...
Yes.... of course we can apply that indicator in MT4 and it should give correct levels for it too...... except for Nifty and Indian Stocks....
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