Direction Prediction for Bullions

Hello trading pro,

I wanted to know how to predict the direction of bullions.

Where to get the live charts for MCX Silver.

I know a bit about candle stick and RSI but not enough to predict the market

So I always depend on brokers call.

Kindly help me with simple trading technique

Thank You All

Currently I am trading with commodities


Is it good trading in commodities


But many trades are with equity.. Am in a right direction ?

These were the steps I followed so far

1) Red the updates from money control

2) Referred bullion desk for spot prices of bullion

3) Watched dollar index. Buy if rupee depreciates and sell if appreciate in morning session and closed them in evening session(sometimes it worked with considerable profit)

4) Got the fundamentals from forexfactory


Pl suggest me the steps to predict the flow.

I think Fundamentals are good for the long term, where as for trading I prefer using Technical.

Few suggestion for the newbie..

Don't start trading on the first go, always do the research, than paper trades for couple of months and see the results. If you want to follow someone tips, again paper trade those calls rather than putting money on the first trade.

If you can, than buy amibroker (one time fee btween 10500-22000) and than real time data provider ( u will get many cheap ones) and than start analysis the markets for 2-3 months. Create your own systems, again do paper trades.

Once you get the confidence on the system you make or your tips provider, start trading in small amounts. Here, no one has the rocket science formula, you may have a losing trades, but once you start trading with real money, than do not stop in between. Make sure you decide how much loss you can take , and than stay till your decided risk is wipe out.

Thanks for ur valuable suggestion..

but how to predict the flow.. i mean how to find its a buying trend or its a selling trend..

how to know whether is overbought or over sold..

You need to learn Basic technicals for that.

Is Der any website or any videos to learn the basic technicals ?
Thanks..

There are many...many....many....
Infact you can search traderji, and you will get to learn many things.

Thanks Ji

Let me search it..

In the technical analysis section, there is a sticky thread on the End of Day 315 system. It should be ok to use on bullion. The general trend for gold is now bullish (price is above EMA 100 line on daily charts on Meta Trader trading clients) so it's best to take only longs on gold.

Edit:
On weekly charts, price of gold was below the EMA 100 line for a short amount of time in 2008 (Gold prices have mostly been above the EMA 100 line on weekly charts since 2001.) Gold prices have generally been climbing since 2001 and probably would keep rising in the foreseeable future.