MCX Gold

H

hp2.shah

New Member
#1
#1
Hello,

My apologies if this may sound erratic to the members.

I have been a day trader/positional trader in Equities since about a year.
I want to start trading in MCX Gold in a few days time. I would like to know from the experienced traders for the same. My questions is, is it possible to capture a definite movement of Rs. 15-20 on daily basis? Just to make myself clear, say i bought MCX Gold Dec @ 19,840 in the morning at 10. Will it be possible that till 11 PM, i can book a profit @ 19,855-19,860 in the same trading session or is it possible to have a better/lower target on daily basis?


I am considering 14 trading sessions in a month for intraday and 2-3 for overnight positions.

I am open for suggestions and strategies.

Kindly share your opinions at the earliest if possible.

Regards
 
I

iGuru

Active Member
#2
#2
hp2.shah said:
Hello,

My apologies if this may sound erratic to the members.

I have been a day trader/positional trader in Equities since about a year.
I want to start trading in MCX Gold in a few days time. I would like to know from the experienced traders for the same. My questions is, is it possible to capture a definite movement of Rs. 15-20 on daily basis? Just to make myself clear, say i bought MCX Gold Dec @ 19,840 in the morning at 10. Will it be possible that till 11 PM, i can book a profit @ 19,855-19,860 in the same trading session or is it possible to have a better/lower target on daily basis?


I am considering 14 trading sessions in a month for intraday and 2-3 for overnight positions.

I am open for suggestions and strategies.

Kindly share your opinions at the earliest if possible.

Regards
Click to expand...

Hi,

Yes it is possible to achieve your daily target of Rs. 15-20 tick. But you have to consider some factor like: your entry point shuld be correct, your stop loss and the most important is Brokerage + other charges.

i will suggest you to enter the market at Support & resistance level with considering the candlestick pattern which will confirm your entry point.


Regards,

iGuru
 
H

hp2.shah

New Member
#3
#3
iGuru,

Appreciate your interest. I have'nt had a go at the charts yet, no idea what it means. You mentioned entering and exiting near the daily support-resistance levels, I am with Angel Broking and they send me emails every morning, noon and evening roundup for precious and other metals. Should i use the levels for entering in morning? it's a mixed up situation for me as I'm planning to do it on daily basis. I'll inquire abt the brokerage for 1 lot (both ways) and other charges.

What would be your modest tick target for daily basis if you would be doing the same. I would add that my experience level in MCX is very little compared to what would be yours, so a bit of easy ones for me if you can.

Regards,
HP2
 
I

iGuru

Active Member
#4
#4
hp2.shah said:
iGuru,

Appreciate your interest. I have'nt had a go at the charts yet, no idea what it means. You mentioned entering and exiting near the daily support-resistance levels, I am with Angel Broking and they send me emails every morning, noon and evening roundup for precious and other metals. Should i use the levels for entering in morning? it's a mixed up situation for me as I'm planning to do it on daily basis. I'll inquire abt the brokerage for 1 lot (both ways) and other charges.

What would be your modest tick target for daily basis if you would be doing the same. I would add that my experience level in MCX is very little compared to what would be yours, so a bit of easy ones for me if you can.

Regards,
HP2
Click to expand...
Hi,

Currently My Brokerage is 0.01% (1 paisa) due to which my break-even comes to Rs.7 per lot. I trade for only Rs. 20 tick in Gold (Net return = Rs.13 ticks or Rs. 1300 per lot).

Regards,

iGuru
 
H

hp2.shah

New Member
#5
#5
iGuru,

Thanks for sharing the information. I would be glad if you can give me a few pointers of your expertise as to the entry and exit points (without charts), expected time duration, positional entry etc etc.

If permissible, I would like to share my trading experiences with you and get your feedback for the same. You can drop me your email address, if allowed.

Regards and Best Wishes
HP2
 
I

iGuru

Active Member
#6
#6
hp2.shah said:
iGuru,

Thanks for sharing the information. I would be glad if you can give me a few pointers of your expertise as to the entry and exit points (without charts), expected time duration, positional entry etc etc.

If permissible, I would like to share my trading experiences with you and get your feedback for the same. You can drop me your email address, if allowed.

Regards and Best Wishes
HP2
Click to expand...

Hi,

Your private message (PM) option is not activated, please activate it. So that I can PM you there with my mail Id or you can PM me there.......... It is not possible to give here as sometimes it may get blocked by Admin.
 
hyraj

hyraj

Member
#8
#8
iGuru
Member
i will suggest you to enter the market at Support & resistance level with considering the candlestick pattern which will confirm your entry point
Click to expand...
Hey Guru, is it possible to find these levels on EOD Gold Chart, if yes then plz teach me.
 
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