Manish Damani

[trade2411]

Hi Manish Ji,

How do you trade commodities when usdinr is volatile ? Do you go with the trends in MCX or still stick to the trends/levels in international prices.
we can trade metals from the MCX charts coz the metals are more volatile than the currency , hence currency fluctuations matter less, But in crude, copper how do you handle the currency fluctuations for positional trades ?

 

[MANISH_DAMANI]

Hi Manish Ji,

How do you trade commodities when usdinr is volatile ? Do you go with the trends in MCX or still stick to the trends/levels in international prices.
we can trade metals from the MCX charts coz the metals are more volatile than the currency , hence currency fluctuations matter less, But in crude, copper how do you handle the currency fluctuations for positional trades ?

BRO IN DAY TIME I TRADE VERY VERY LESS. But when ever I see that good opportunity as per my my view then I see RS/$ level in my hourly charts about the possibilty and then Nymex crude. Better trade in evening if doing intraday trade.In copper day time is good you can see movement many times.In copper if you see MCX chart too is also worth. But as copper run in trend so when ever there big moves you can play pull backs and retracement and also if you think as per MCX too it will fall you can do that. In crude specially I follow international charts.

 

[MANISH_DAMANI]

sell crude 5207. sl 5215 target 10-15 points

 

[MANISH_DAMANI]

6 points down keep talling sl

 

[MANISH_DAMANI]

continuing trade

 

[MANISH_DAMANI]

copper after hitting sl again down in a single day.

 

[MANISH_DAMANI]

6 points down keep talling sl

Booking profit 11 points 5196

 

[MANISH_DAMANI]

6 points down keep talling sl

19 points but i BOOKED EARLIER AT 5196

 

[mkandasa]

Manish, Which is the best time frame for natural gas/copper/zinc/lead/nickel. It seems that natural gas is more volatile compared to base metal counters. Currently i use 30 mins for intra entry and 4 hrs for positional entries with 1:2 RR ratio. But hitting too many sl's :-(

 

[MANISH_DAMANI]

Manish, Which is the best time frame for natural gas/copper/zinc/lead/nickel. It seems that natural gas is more volatile compared to base metal counters. Currently i use 30 mins for intra entry and 4 hrs for positional entries with 1:2 RR ratio. But hitting too many sl's :-(

FOR COPPER USE HOURLY CHART FOR INTRADAY. FOR POSITIONAL OBVIOUSLY DAILY CHART.BEFORE PUTTING SL YOU ALSO HAVE TO SEE SUPPORT/ RESISTANCE. HOW MUCH COMMODITY RALLIED DURING THE DAY, WHAT IS PRICE RANGE AS PER ATR. THEN BEFORE TAKING DECISION SEE OSCILATORS LIKE MACD, STOCHASTIC ETC. SO THAT YOU CAN TAKE RISK IF CHANCES OF CROSSOVER SEEMS. THESE ARE FEW BASIC THING EVERY PERSON FOLLOWING TECHNICALS SHOULD OBSERVE. IF YOU WANT TO EARN BIG PROFIT THEN YOU SHOULD READY TO LOOSE BIG STOPLOSSES. LOOK ITS MY PERSONAL VIEW THAT 1:2 RATIO ETC. IN BOOKISH THEORY IS GOOD. THING IS THAT HOW IS YOUR ANALYSIS AND HOW MUCH YOU ARE CONFIDENT IN YOUR DECISION. FOR EXAMPLE RECENTLY I HAVE GIVEN A CALL ON COPPER THAT SELL AT 445-446 SL 448. EVEN I WAS CONFIDENT THAT IT WILL COME DOWN AND IT IS BUT I HAVE TO GIVE STOPLOSS HERE ON TRADERJI- REASON PEOPLE STARTS LEG PULLING FOR SHOWING SMARTNESS. WHATEVER YOU ARE TRADING FIRST SEE HOW COMMODITY BEHAVES INTRADAY AND DAILY. THEN MAKE A PLAN ACCORDINGLY. IF YOU THINK NATURAL GAS IS ABOVE FOR EXAMPLE RS 200 AND IT IS EXTREME OVERBOUGHT. THEN START SELLING ON RALLY. WHENEVER IT IS OVER SOLD IN HOURLY CHART JUST EXIT ONCE AND RE ENTER ON PULL BACKS. SAME WITH OTHER BASE METALS- LIKE FOR EXAMPLE YOU WANT TO TRADE IN LEAD. BASICALLY LEAD RETRACES FROM 1-1/2% UP/DOWN. BUT MANY TIME ITS GOES MORE THAN 2/3%. SO FOR THAT SEE THE LEVELS ALONG WITH HOURLY CHART. SEE CANDLE STICK IS REVERTING OR NOT. THEN TAKE A RISK. BUT PERSONALLY I ADVICE TRADE IN COPPER AND CRUDE. REASON- INTERNATIONALLY EASILY TRACEABLE.INTRADAY SWING.SELL AND BUY AS MUCH IF HAVE FUNDS BUT USING WISDOM TOO.YOU MAKE HELL LOT OF MONEY. SILVER WHEN YOU SEE 1000 POINTS UP/DOWN THEN GOOD FOR PULLBACKS AND RETRACEMENT PLAY. NATURAL GAS I PERSONALLY WONT TRACK ELSE I WOULD HAVE GIVEN YOU MORE IDEA IN MY VIEW IT IS VERY SPECULATIVE.SIR TRUST ME YOU WANT TO MAKE MONEY THEN TRADE CRUDE INTRADAY AND COPPER POSITIONAL I CAN BET IF YOU HAVE GOOD SKILLS TO TRADE YOUR MONEY WILL BE DOUBLED OR ATLEAST 50% RETURNED POSSIBLE. BUT YA YOU TO TAKE RISK WITH RIGHT DECISIONS. IN THAT HOW MUCH YOUR SIXTH SENSE HELP THAT ALSO IMP.BEC ONE SHOULD HAVE GUDS TO TAKE TRADE. NOW A DAYS I HAVE CONNECTED WITH FEW MEMBERS MANY OF THEM ARE NEWBIES. ALL HAVE SAME PROBLEM DONT HAVE GUDS TO TRADE MUCH BUT THEY WANT TO EARN. BOTH THINGS AT SAME TIME ARE NOT POSSIBLE.SO KEEP CLOSE EYE ON CHARTS SPECIALLY HOURLY CHART IF WANT TO MAKE MONEY IN BASE METALS/NG THEN CHECK ALL STUDIES ETC. AND THEN CHECK WHAT YOUR SIXTH SENSE SAYS. IF YOU HAVE CAPITAL SAY RS 1 LAKHS THEN BETTER TRADE IN 1 LOT. AND WAIT FOR PROFIT. IF GETTING RS 2000-3000 THEN IT MEANS ITS DECENT START PUTTING TRAILING STOPLOSS SO THAT YOU GET SOMETHING.BUT IF YOU ARE USING BIG MONEY LIKE RS 5/10 LAKHS THEN DONT DIFFUSE IT IN ONCE USE IT IN DIFFERNCE AND MAKE IT DECENT AVERAGE FROM WHERE HIGH CHANCES OF GAINING. BUT FOR ALL THAT YOU HAVE TO DECISION ON RIGHT TIME.EVEN I WILL TRY TO EXPLAIN FUTHER IF YOU HAVE MORE QUERY. SEE HOURLY CHARTS FOR THE COMMODITY ASKED IF WANT TO TRADE INTRADAY WITH SL AS MENTIONED WITH ABOVE STRATEGIES. IF POSITIONAL THEN SEE DAILY CHARTS FIRST AND THEN 4 HRS CHARTS. IF CRUDE THEN WHAT AMOUNT YOU ARE USING STRATEGY WILL BE ACCORDINGLY. BUT LEAD/ZINC/ALMUNIUM.NG ARE VERY VERY RISKY MY PERSONAL EXPERIENCE. BUT ALL DEPENDS ON YOUR DECISIONS.EVEN I CAN GIVE VIEWS ON NG/LEAD ETC. WITH SL. SL HITS WHAT I LOOSE NOTHING BUT YOU ARE WASTING YOUR MONEY.FEW PEOPLE HAVE ASKED ME ABOUT NG/LEAD ETC. BUT I WONT REPLIED THEM AS MY STRATEGY WONT SUITS THEM EVEN I AM SURE THAT SOONER OR LATTER PROFIT WILL COME BECAUSE YOU NEED GUDS TO TRADE IN THEM AND PATIENT.IN CRUDE QUICK MONEY IS COMING ONLY NEED IS DECISION ON RIGHT TIME. BUT IN THOSE COMMODITIES EVEN YOUR DECISION IS RIGHT BUT MARKET PROVES YOU WRONG IN SHORT RUN BUT IN LONG RUN YOU CAN MAKE MONEY.I HAVE TRADED MOSTLY ALL COMMODITIES EXPT FEW AGRI COMMODITIES IN MCX-GOLD/SILVER/COPPER/ CRUDE/LEAD/ ALMUNUM/ ZINC. I FOUND THOSE WHO ARE DEPENDING ON MARKET INCOME MEANS FULL TIME TRADER THEN THEY CAN MAKE GOOD MONEYONLY IN CRUDE/COPPER/ SOMETIME IN GOLD AND SILVER. :thumb: