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

Easier to Trade - Commodities or Indexes or Stocks


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myamit

Well-Known Member
Kamleshji...... I have an idea.... Let's begin this New Year doing something different......

As MT4 has the capability of Read-only access........ I would suggest you to create a new MT4 account with an Initial Deposit of $10000 (this was what you suggested in Post # 1469) and Margin of 1:100.... Then take the trades on it based on UMS, UMB, WW, etc..... Manage your trades (entry, trailing the stops, scaling in and scaling out, adds, exits, etc)..... Do this for a couple of months...... And provide us the Read-only Password......

So, this would create a Trading Journal as well as help us to see it live as to how you Manage the trade........

Thereafter, once we start feeling confident about it, one of us might take the responsibility of handling that account..... and rotate that responsibility amongst us... So, you would just have a Read-only Access to that account after the initial stunt........

What do you think about it? And what do the readers of this thread think about it?

Fingers-crossed ;)
Great Idea Aditya!

May be we can also document each trade (setup, entry, exit, post-trade analysis).

If needed I can provide web server / space & perform necessary coding to build such system/forum.

Let's do it.

Regards,
 
Hi Kamlesh Sir,

It really fills me with hope for myself that hardwork, learning and patience can truly develop market skill looking at you as role model.

I am very much impressed by the thought process you put in place behind every chart and the way you interpret with such a precision, clarity and confidence. Like it ..!

:)
 
Hi Aditya,

It would perhaps be better to add the Account to myfxbook & post the Widget & The Link here...!!!

...also need to re-think in terms of account size because Silver Margin is $6125 for a standard lot.


SG
Great...... Infact (much-much-much)^infinity better.... This is an absolutely apt and perfect tool to support the idea....

And as far as margin on Silver is concerned...... we may take a trade in multiples of 0.10 .... That should take care of Risk Management...... :)

Thanks
 
Anyways.... it's for Kamleshji to decide about the Account Size..... whatever he is comfortable with..... if he decides to start this exercise..... :)

Aur Sushilji........ jab apko myfxbook ke baare mein pehle se pata tha toh, FX wale thread mein implement kyun nahi kiye......... Chaliye.... turant hi implement kijiye aur hum logo ko link bataiye...... :)
 
I am going to describe step by step how i generate my chart.
I would be happy if anyone really succeeds.

S1. Market Watch -> symbol crude oil -> right click -> chart window.

S2. Right click on chart -> click on grid, grid goes off -> click properties -> common -> uncheck 'show period separators' -> Colors -> Bar down(red), bear candle (red)

S3. Press zoom once

S4. Now, right click on chart and go to periodicity-monthly draw all trendlines then weekly TLs then daily TLs then on 4 hr then on 1 hr chart.

(Follow the convention of colors:
monthly TL-white,
Weekly TL yellow,
Daily - Blue,
4 hr red
1 hr green)

S5: Now feel confident and make trading decisions.
Hi Kamleshji,

Does the below chart and trend lines look good. The color codes followed for trendlines are as per provided in your post.




Uploaded with ImageShack.us
 

SavantGarde

Well-Known Member
Bhayya Aditya,

Implemented it 2 days after I found out.....!!!


SG

Anyways.... it's for Kamleshji to decide about the Account Size..... whatever he is comfortable with..... if he decides to start this exercise..... :)

Aur Sushilji........ jab apko myfxbook ke baare mein pehle se pata tha toh, FX wale thread mein implement kyun nahi kiye......... Chaliye.... turant hi implement kijiye aur hum logo ko link bataiye...... :)
 
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