day trading commodities- profitably !

Hi kharikumaar,

What tcharting platform r u using...?
if it's Amibroker please share AFL

thanks

i don't use any charting software, i do not want to complicate my trading with too many strategies etc., ( which i used to earlier) , what you see is the MT4 of a forex broker. i keep changing brokers/id etc as and when the demo closes. i found out that this is all it takes. this method gives me 15-20k per week on an average. i can scale it up. but i also trade the nifty so it's fine

Hi kharikumaar,

As per chart i think TF is 30M.
am i right...?
also are u trading positional or Intraday.

yes it is 30 minute charts. i have found this to be the best. and yes i only trade intraday.

Just installed the MT4 and registered with DEMO account.
can u tell me from where i can get CRUDE chart please.?

Hi kharikumaar please clarify where was your trade entry pivot point or support level because you mentioned ring in your chart that's the support level area

on our left towards the screen, in market watch, right click and choose symbols and you will find it listed in energy.... depends on the broker. but thats the way it is done

in the circle you will find a blue candle which cut the res/supp line upwards and closed above it. the next candle also was blue and closed above, the laquerre indicator was above 15, the macd had turned up, in fact all the indicators gave the buy signal. whenever i get a signal at the opening of the next candle i take a position at the market price.

How much trading capital do we require to be able to get those returns as per your method? Thanks for the share.

am sorry the reply took so long.
it depends on your control and temperament. i started with 30k. now i keep roughly 50k in the account. i noticed ( this is my case , it may be different for others) that if i have more money i get an urge to overtrade and this could at times prove dangerous, so i usually take a payout once in 10-15 days. which is refreshing because for a long time it had only been pay-ins with very rare payouts.

i have not done a pay-in into my account for a very long time now.

i also do some trades on my visual analysis. many times when you watch the charts the way it moves/ or candles get formed will give you an indication of the direction the price will take, and i get in early into some positions, like on friday based on the indication i got from the strength of a candle formation i could get in early to crude and managed to make 40 points, this comes from practice .

but the method i've described in the earlier posts itself can give very reasonable profits. in fact this is one stratagy i use for a large portion of my trades.

earlier in my trades i had never had a profitable trade with silver, but with this method i have 70-75% winners now.