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

Easier to Trade - Commodities or Indexes or Stocks

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uttamkamlesh

uttamkamlesh

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#2,802
#2,802
timepass said:
The dollar index is 79.84 (Friday Closing). It was 78.xx at our closing time (5pm IST) on Wednesday. That alone will make the dollar expensive. Then there is this sudden loss of confidence in the Euro, so dollar as a safer haven buying will emerge. Unless, of course, the dollar index falls to below 79 before our markets open, or the RBI intervenes early on Monday. Usually the RBI intervention comes in the last hour of trading (4-5pm).

Another thing, nothing scientific about this one, is that during the last few moments of trading on Wednesday, the dollar went up by about 15 paisa, crossing from below its ATP of the day to about 12 paisa above it (went up from 51.29xx to 51.45xx - the ATP was 51.32xx). Difficult for me to explain this, but generally a sudden movement in the last moments portends continuation on the opening of the next day (my observation).
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Buddy! It is technical in my view....two possibly reasonable reasons are:

1. Suppose i am system trading EOD candles, i would fire my orders in the last 5-10 minutes.
2. "Whiplash" trading technique is based on similar logic.... reference to Street Smarts.
 
timepass

timepass

Moderator
#2,803
#2,803
uttamkamlesh said:
Buddy! It is technical in my view....two possibly reasonable reasons are:

1. Suppose i am system trading EOD candles, i would fire my orders in the last 5-10 minutes.

Ok. So you are buying at the end of the day, which means a possible upside :)

2. "Whiplash" trading technique is based on similar logic.... reference to Street Smarts.
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The point no. 2 is a bouncer. Please explain in detail.. something like "Whiplash for dummies" :(
 
adityasaraf007

adityasaraf007

Well-Known Member
#2,808
#2,808
uttamkamlesh said:
@Aditya...in one post you said GCI volume data is not real.

I too have noticed the same as i saw one day in tata motors volume was just one share...an impossibility.

But how you concluded so.?...
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Kamleshji.... this is the case atleast with all the Indian Stocks and Nifty on GCI.... The volumes shown in GCI reflect the volumes traded with them.... Since, GCI is a broker and they do provide broking services in Nifty and those 8-9 Indian Stocks as well...... Hence, we cannot depend on the volumes shown by GCI..... :)
 
adityasaraf007

adityasaraf007

Well-Known Member
#2,809
#2,809
adityasaraf007 said:
I had said, "Trade with an Open mind".... So, don't carry any bias on Mon & Tues.... Trade what you see.....

If I have to provide some levels, then that would be 5265-5305-5340-5380 on Nifty Future..... Be cautious around these levels.... We should see a big move starting/halting around these..... It might even give a move within this range....

Just stay calm and exit if it hits your Stops... Don't remain in the trade when market is going against you....

And be careful with False Breakouts.... ie; price crossing these levels and reversing without sustaining for 5-10mins.... In case of False-breakouts, the move is going to be vigorous.....

Another thing is Gaps... We might get a Gap opening around these levels and market might just keep on moving in the direction of the Gap without giving any sort of Retest....

These are some of the things which traders should be careful... A gap is more likely also because we have had an extended weekend....

But the mantra is: Trade with an Open mind..... and apply all those words of wisdom which you have heard/read but never applied.....
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Its playing along the expected lines..... If it goes down further levels to watch out would be 5235-5230-5185 on Nifty Future.....

PS: I am not trading even today..... and, Trade with an Open mind.... (also, be conscious of a major move starting around round no in time like 1pm, 1.30pm, 2pm etc.....) :)
 
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