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

[uttamkamlesh]

And in general technology sector along with financials is leading the rally in US mkts.. the same should rub off on our technology stocks sooner or later..

how and from whr do you track US markets.....which sector is leading or lagging...?..

 

[piyush08]

how and from whr do you track US markets.....which sector is leading or lagging...?..

I generally read a lot online.. news reports.. blog updates.. from random sites.. for a brief daily dose of news/blogger views/trade setups etc .. i receive a daily email update from stocktwits.com

interesting site.. have a look.. its a social site for stock trading focused on US stocks.. commodities.. currencies..

 

[coolcorner78]

Hi CC,

There were many members at fxbook who wanted me to give them the trade for some kind on monetary consideration......!!!

Think there is some kind of software that copies it from one Terminal to the other.... I am not aware exactly what it is... because I have only heard about it so far....!!!

If you need the 'Read Only' password I shall provide it to you with no monetary or any sort of benefit to me.....just as I have shared it with a few at fxbook.....!!!

Now, what purprose will it serve..Nothing...... beyond the fact that you will make some money....!!! Will you learn how to trade ....Definitely Not.....!!!

Only way you will learn trading is the hard way..... if you look at the image posted in 'Trading The Bars' you will see Date & Time of the trade when it was filled and then there is another column with Date & Time when the Trade was squared off......while another column indicates at what price the trade was squared off.....!!!

What one needs to do is check those Hourly Bars on the Chart for Trades.....to see why a trade was taken and why it was squared off.....that is how one can learn......It is not an easy way, needs a lots of screen time....
but with enough determination one will get there....!!!

Choice is entirely yours....Don't disappoint me....

SG

Hi SG,

I totally agree with what you said. Entirely true, trading can be learnt always the hard way and with dedication, and it has not been easy for me, and with the trade book it wont ease my pain too. No denying that. I have been around since 3-4 years, few months positive, few months negative, overall decent, not so great, but its the passion which has been kept me going. I know there is lot more hard work that's needed from my side.

As I said earlier, I really don't want to know the logic of entries (that's the most important thing, but still even if you tell me, I will not be able to excel/execute it) and that's why I did not ask your system and I will never ask that, as it will not help me at all, what criteria you took to enter/exit the trade. This will not be a shortcut in learning.

For me I think the main problem has been execution (Which is good at times, and bad at times, basically inconsistent, but analysis is right, execution is wrong). What I want to see is how a professional/seasoned trader executes his/her trades, when he/she is right and when he/she is not right or the re-entries at times (This would be based on any technical/systems/indicators). Like "Michael Douglas" says in his book "Trading in the Zone", I have the problem of belief and execution. I am trying to overcome them.

Yes, I will definitely will have to check the trades on the charts, as now the trades are on the hindsight, even if I dont have the exact system (and over time lot of trades happen coz of intuition than the systems), I would come to know the execution part of it. For some reason I missed seeing the CSV, html, PDF option for the trades (Thank you Kamleshji), and I have downloaded the csv. I think for the live/current orders only it asks the password. I will go through the CSV, will be interesting to see it.

If you can share the 'read only' password, please PM me, so I can see the open orders (If you have GOLD order open, I WILL NOT be executing similar order in MCX, I definitely do NOT want to do that, I will NOT learn this way, and I do NOT want to learn this way, money is there but its more of a passion now, does not mean I don't care loosing my hard earned money, but you know exactly what I meant by passion), otherwise also, I am really very grateful that you replied to THIS post of mine and also I do have enough history trades of yours to check them out.

Really appreciate that....

Cheers!

CC

PS: I would like to quote from this movie "Aviator" what Leonardo DiCaprio says to the senator. Search for "I mean, I put my money" in this link http://www.script-o-rama.com/movie_scripts/a/the-aviator-script-transcript.html and read for a page or more. Basically he talks about his passion . Interesting movie uhh... and DiCaprio has done awesome job. Yeah, even from "3 Idiots", “Beta kaabil bano kaabil, kamyabi toh sala jhak marke peeche aayengi”. Last but not the least from Steve Jobs http://www.youtube.com/watch?v=PznJqxon4zE
I think all these applies to ANYTHING that we do in our lives and what we love to do with passion.

 

[prabit]

Dear kamlesh,
Thanks a ton for starting and contributing to this wonderful thread and helping lot of members.I want to start commodity intra-day and need some guidance from you .Do you trade intraday and if yes, which timeframe and who is the chartprovider?

 

[hawaisanjay]

Kamleshji
From where you have taken data for your excel sheet? Is it from nsespark?

 

[uttamkamlesh]

Dear kamlesh,
Thanks a ton for starting and contributing to this wonderful thread and helping lot of members.I want to start commodity intra-day and need some guidance from you .Do you trade intraday and if yes, which timeframe and who is the chartprovider?

i trade intraday...as well as swing...TF may be 5 min 15 min...or 1 hr...depends on the opportunity....Chart provider is GCI MT4....

 

[uttamkamlesh]

Kamleshji
From where you have taken data for your excel sheet? Is it from nsespark?

http://www.nseindia.com/live_market...t=OPTIDX&date=-&segmentLink=17&segmentLink=17

 

[uttamkamlesh]

@Amit

Look at ITC you got saved buddy!....it was a dangerous WW trade....

 

[SavantGarde]

Hi TP,

You do have a lot of questions on Forex as Traded on MT4

Will post a detailed Glossary of Terms and miscellaneous stuff in one of the Threads in Forex Section ....Think the thread is called 'Ask You Forex Questions Here' not sure what the exact thread name... but something similar I guess...

The pairs that you Trade on MT4 are basically Spot not the Futures.... therefore these can be carried forward as a Long/Short Trade indefinitely, basically it means you are using currency A to buy C on Margin, therefore there is Swap charges associated with it....depending on the Pair you can have a Credit or a Debit Swap....This too will be explained in detailed with examples in the thread mentioned...!!!

Some examples where you will have credit swap are GBP/USD, AUD/USD, USD/JPY, NZD/USD... there are some more will check on the others as well.....!!!

All commodities whether Long or Short will give you a Debit Swap... if, the trade is not closed on the same day....!!!

Now some specifics to your Trading Terminal.... what you see in the Profit column is the net profit, and that profit shall not include Swap whether it is debit or credit... Swap charges will be reflected in your 'Balance Figure' ...do check this on your MT4.....!!!

SG

Ok... so it's something like intraday and delivery. The extra margin that you use for holding a position (delivery) is charged extra, or something like that. But in the picture showing my trades, you see that the swap of 1.58 isn't calculated at all in the profit calculation

 

[myamit]

@Amit

Look at ITC you got saved buddy!....it was a dangerous WW trade....

Hello Kamlesh,

Yes, you're right but one thing that this has not yet broken the level of 225. Actually I've bought 210 put @0.8 & waiting this to be a Rs. 8. May be my life's trade where I may earn 10 times return
Also see volume that is declining since that high spike day.

But yes, you are correct that one should not trade this WW. So even if I may gain on this trade, no addition will be made in my knowledge bank.

Other drivers are two important news...
1. Mr. Sukhani is also seeing something in charts that may bring ITC to 200 (as seen on CNBC & moneycontrol)

2. ITC chairman has sold 8.7 lacs shares @ 210. (as read at moneycontrol)

Let's see how this goes.

Regards,