MCX Silver Real Time Trading Log - 20% ROI

[marimuthu13]

Any questions/ critisicm

Any questions and critisicm are mostly welcome about my way of trading , etc etc...

 

[meherp]

Re: Any questions/ critisicm

Any questions and critisicm are mostly welcome about my way of trading , etc etc...

The thing I most like about your strategy is you gave the buy/sell levels in advance and there is enough time to enter it (there are only few occasions where u buy/sell at CMP).

Please Keep it up....

 

[Jeareh]

Hi Marimuthu,

Have you any time think of taking this trading as full time job? When you are getting ROI 49% for the trading in the evening time, hope you can get more when you trade full time.
Planning is important to achieve target. You did well in your trades.

But you did not told anywhere that why you initiated a trade. May be your secret strategy. Just give an outline, if possible, it will help new commodity traders.

Best wishes for the new startup.

 

[SEVEN STAR]

consolidation..52000..56000..on a down trend breaks 53000/52000..next support around 49000..breakout at the top is at 56000

image sharing

 

[marimuthu13]

Re: Any questions/ critisicm

The thing I most like about your strategy is you gave the buy/sell levels in advance and there is enough time to enter it (there are only few occasions where u buy/sell at CMP).

Please Keep it up....

Hi,
yes.. I used to place order in system well in advance because once i confirm the price action near S/R, then I used to wait for pull back to support (for BUY), rise to resistance ( for SELL)...this is to keep tight SL as well as to maintain good R:R...

 

[marimuthu13]

Hi Marimuthu,

Have you any time think of taking this trading as full time job? When you are getting ROI 49% for the trading in the evening time, hope you can get more when you trade full time.
Planning is important to achieve target. You did well in your trades.

But you did not told anywhere that why you initiated a trade. May be your secret strategy. Just give an outline, if possible, it will help new commodity traders.

Best wishes for the new startup.

Hi,
For full time trading, I need to go very long way ..

let me complete my real time trade log for another 11 months here in traderji..this is what my short term goal in trading..help as much as people who lost money in market..

And coming my trades and reason behinds my trades.. I already explained here that I use S/R along candlestick patterns, wait for price action near S/R, then decide BUY/SELL with next S/R as target, SL of 100-150 points...

 

[Klewtar]

While I have a slightly profitable system, it works only in 2 commodities (does not work in Silver.)

I'd like to learn more about the Support/Resistance calculation. What time frames are used? My previous experiences with S/R calculation was mostly based on EOD Data to find the day's s1,s2,s3,r1,r2 and r3 prices.

 

[marimuthu13]

While I have a slightly profitable system, it works only in 2 commodities (does not work in Silver.)

I'd like to learn more about the Support/Resistance calculation. What time frames are used? My previous experiences with S/R calculation was mostly based on EOD Data to find the day's s1,s2,s3,r1,r2 and r3 prices.

Hi
yes..Support and Resistance would be calculated based on EOD only..

I calculate S/R based on yesterday OHLC ( some small twist which I will disclose soon)..

I apply these S/R in 5 min chart, then wait for price action near S/R..

I will post charts in real time along with reason behind trades but not now..may be after month or 2..

 

[meherp]

While I have a slightly profitable system, it works only in 2 commodities (does not work in Silver.)

I'd like to learn more about the Support/Resistance calculation. What time frames are used? My previous experiences with S/R calculation was mostly based on EOD Data to find the day's s1,s2,s3,r1,r2 and r3 prices.

What is your strategy and for which commodities its working ?
If can you discuss ur strategy here.......

 

[Klewtar]

This system interests me because it may have a + 30% monthly return.

Price action on its own doesn't seem trust worthy but price action based trades at S/R levels may well be a worthwhile trade strategy.

I'm looking at developing a profitable system (+ 30% monthly) that can be used in multiple commodities across multiple exchanges.

@meherp, I cannot disclose too much about my system because I have yet to test it beyond a month of profitability. It is profitable paper trading across lead, zinc and aluminium since the start of this year but live trading it for less than a month has lead to profits in only lead and zinc (barely any profit in Zinc.) I can share technical details that I have shared before: My current system works across 3 time frames, 120 minutes, 60 minutes and 5 minutes. The fact that it only works on 2 commodities and in only the MCX exchange makes me uneasy about giving all the details. I'd rather develop a multi commodity and exchange friendly system or help someone in developing such a trading system.