mcx commodity trading

[sharmavikas]

thank you for sharing your views.

regards

 

[the1]

Rajabhai....need ur help.....today LME warehouse data were declared and as most of the metals (stock) were in +ve.....prices of respective metals declined after that.....

wat i wld like to know is.......when does LME comes out wit the data??? are there fix days, date, time for it ????

also is it possible to know about it early....at present i get sms through my broker about it.......

Thanks in advance.....

btw of late no calls from your end????

 

[k.raaja]

Raaja bro, I dont get what you say.. Why is it the tax is levied on price? Is it not to be levied on the total turnover?

Please educate more on this issue. Thanks a million for taking time to attend my query..

Regards

Originally Posted by saivenkat View Post
@ Raaja bro,
As suggested by you, i am using Broco as my mt4 platform.
I trade only Crude. For the last few days i am noticing a price difference between the Price indicated by the software and by the ODIN.

I mean, when crude ( May month contract) was at $ 111.81, i find the real price of crude at 5003 or so. whereas it must be around 4978. Why is this difference in 25 point or so?

Calculation : May month contract : CMP of Crude oil = $111.81
Exchange rate of USD INR yesterday =44.53
So Price of crude must be 111.81 *44.53 = Rs 4978

Whereas i see on my odin at Rs 5003 or so.. Can you figure out why is this so? Further i checked with other softwares like GCI and Metaactive-trades.. there also i notice this discrepancy.

When i asked my broker, he is unable to make a clear cut explanation to this?

Is it due to the premium difference or something like that? If so could you please clarify.

Thanks a lot

add 0.5% tax means , add 0.5% on current trading price after converting into INR.. it is import duty

 

[k.raaja]

Thanks for the info. Does Fortune Trading Co. have direct access to NSE and MCX? Do they provide their own software? If not, mind sharing with us which trading software you use? Much appreciated The Starving Trader trades metals on the MCX too.

The Starving Trader

Hi starvingtrader welcome to my thread :thumb:.
Fortune trading corporation providing odin software, and no charges for software.. currently it is dealing with only mcx.. with in 2 months nse ,bse, forex also available with them... if you need contact details send pm to me..

 

[k.raaja]

Rajabhai....need ur help.....today LME warehouse data were declared and as most of the metals (stock) were in +ve.....prices of respective metals declined after that.....

wat i wld like to know is.......when does LME comes out wit the data??? are there fix days, date, time for it ????

also is it possible to know about it early....at present i get sms through my broker about it.......

Thanks in advance.....

btw of late no calls from your end????

LME data is released at 2.30pm on every working days..
I was busy in some other shedules, i will be resuming after 2 or 3 days... all the best... and one more thing i am short side in silver from 71k lvls MAIN lot... :clap: multiple units shorted today covered may contract, and holding july contract .... expecting 52k to 53k ( even 49 to 46k tooo,, )


Hope all are doing well.... cheeeeeeeeeeers

 

[the1]

Raajabhai u wld have made a killin in silver .... :thumb:

I need ur views on zinc and lead

I am holdin 1 lot each and facing quite a good loss right now

wat shld i do

1) square off and book loss

2) buy more and try to even out

3) wait till expiry

Sirji....please share some good calls so i can recover my loss

 

[vinotth]

raja ji i m newbie to commodity

I saw your previous post

its awesome calls

Which trading system u follow?

Can you share with us?

thanks in advance

Happy trading

 

[k.raaja]

Raajabhai u wld have made a killin in silver .... :thumb:

I need ur views on zinc and lead

I am holdin 1 lot each and facing quite a good loss right now

wat shld i do

1) square off and book loss

2) buy more and try to even out

3) wait till expiry

Sirji....please share some good calls so i can recover my loss

is it main lot or mini lot.... if mini exit.. if main, try to do hedging...

 

[k.raaja]

raja ji i m newbie to commodity

I saw your previous post

its awesome calls

Which trading system u follow?

Can you share with us?

thanks in advance

Happy trading

i am using basic system, with rsi,stoch, and 5-10 emas with macd... by messing them with price action trading techniques and candle patterns, chart patterns...:thumb:

 

[k.raaja]

Metals rebound in slight rout correction

Gold rebounded on Friday to compensate for some of the losses endured this week after a strong sell-off in silver infected other commodities and especially gold on heavy liquidations.

Gold found support on Friday and started the upside correction for the decline, with the end of the week’s position squaring and the need to adjust the drop, while others saw it god demand opportunity and some saw heightened risk in the market.

Gold is trading higher more than 1.0% at 1494.73 an ounce recording the high of $1498.23 and the low of $1470.85 an ounce. The metal was marginally changed in London downs slightly to $1486.50 in the PM Fixing from $1487.75 in the AM Fixing.

The selling pressure on gold eased, and silver also rebounded to cover some of the heavy losses and the worst week since 1975. Silver is trading bullishly around its intraday high of 36.40 at 36.20 rising from the low of 33.13 per ounce.

The market is correcting the heavy losses as the selloff eases, oil was not free of this selloff and nearly down 12% this week. The jobs report was mixed today and so is the dollar’s status as the metals needed to correct and moved higher further after the report.

The US unemployment rose again back to 9.0% while the economy added more than expected jobs in April with 244 thousand jobs.

Geopolitical pressures also play a major role for gold with Al Qaeda promising revenge for Bin Laden after they confirmed his death today.

Heavy volatility ends this hectic week and more surprises are to come next week still as investors assess their investments and the outlook for the global economy, inflation, growth and the dollar!