SuperTrend Indicator in mcx silver

#1
Hi All,
I am observing silver charts in markells.in with supertrend indicator.
I have seen that many times whenever there is a call for buy or sell with supertrend indicator its easy to obtain 100 points in silver.
Can any one please suggest that its safe or not.

thanks:)
 

rkkarnani

Well-Known Member
#2
Hi All,
I am observing silver charts in markells.in with supertrend indicator.
I have seen that many times whenever there is a call for buy or sell with supertrend indicator its easy to obtain 100 points in silver.
Can any one please suggest that its safe or not.

thanks:)
The proof of the pudding is in the eating ! :)
 

rh6996

Well-Known Member
#5
Hi thanks for reply
Is there any way that we can know when there will be a movement.

thanks:)
What parameters are you using in Supertrend for Silver???

I trade Silver "positional" with Supertrend alone and am doing good! In fact the profits are stupendous! I use Supertrend 2,14 ! My trades are generally for 2 lots or more and I exit 1 lot or part qty. at some profit and allow the balance half to run till reversal or SL!

2014 trades on EOD chart in Silver as per Supertrend(2,14)
01. 2 Jan 14 Long 2 lots at >44600, exited 1 at 45600 on 6 Jan , 2nd lot hit SL at 43500. Trade gave an opportunity upto 45740. Net result : From an opportunity for 1140 points managed to Gain 100 points.

02. 30 Jan 14, Short at 43500 , did a low of 42928 and reversed to long at 44200 ! Net result : From an opportunity of 570 points managed to end at a Loss : -700 points.X2= -1400

03. 5 Feb14, Long at 44200 did a high of 48343 and got exited at 46800 on 26th Feb ! Net result : From an opportunity of 4140 points managed to retain 2600 points. 1 lot was exited and not reversed at 1000 points... a gain of 3600 points in 2 lots.
(Had we reversed to short here, gains would be out of the world! :D )
04. Went shot only on 19th Mar at 45400 and carried the short till April end and exited at 41100 on 30th Apr 2014! As usual exited 1 lot at 1000 and the second lot gave 4300 points, thus 5300 points in 2 lots!
The long signal did not trigger on 7th may and again a short trade was taken.

05. Short trade at 40700 on 23 May 14! Did a low of 39500! It got exited at 40600 ! 2 lots giving 1000+100=1100 points!

06. Long on 13 June at 41600 ! Did a high of 46400 ! Exited at 44600 on 15 jul 14 ! Giving 1000+3000=4000 points in 2 lots.

07. I am currently Short from 44500 on 24th July and holding the short in 1 lot. Exited 1 lot on 5th Aug ! 1000 points in kitty and cmp 42055 on 1st Sep (Today) SL is 43350 now !
100, -1400, 3600, 5300, 1100,4000,1000 and 1 lot short in hand !
You need to have discipline in your trades and very frankly an early Profitable trade when you first enter is really really helpful to maintain discipline. In my case my first exposure to Silver was a LONG trade on 22 July 2013 at 42100 and silver raced to over 50000 in 2 weeks and to almost 60000 by next 2 weeks. I exited 0n 30 Aug 2013 at 53555 ! I still remember this figure as this is the biggest single gainful trade of my life ! Gave me a profit of over 325000/- in a single Silver lot. I was trading a single lot at that time.
There after I had 4 or 5 loosing trades out of 7 total trades and I lost almost 3400/- points ! These losses made me jittery and I started trading 2 lots and exiting 1 at 1000 points approx. Though trading both lots till reversal or exit would surely give me better returns but the early exit at 1000 points gave stability to my "mind" and reinforcement to my trading discipline !
So I think 100 points in Silver with proper discipline should not be difficult. And as you yourself have observed that you are surely getting a 100+ point move in silver on Supertrend cross so stop procrastination and plunge in but no harm in starting with a mini or micro Lot size and then promote your self to 30 Kgs lot !
 

rh6996

Well-Known Member
#7
Does this indicator works on NIfty / Banknifty the same way it works with silver/gold?

what is the ideal timefram and setting for the same?

what is the ideal timeframe and setting for rangebound or sideways market ? to get less whipsaws or loss?
Supertrend works well in almost all markets and almost all timeframes. The params may be different.
As is oft repeated by all seniors here, I would also say the same thing : More than the indicator, its the trader that matters.
I use ST in Nifty trades but use it to trade Positional in Options only !
Though I dont use ST for intraday trade but it looks good to me in 5 min and 15 min TF ! One can use it for Positional cum intraday in a combination of 15 minutes and hourly or 30 minutes!
I use it on a EOD chart for Option trades! Have traded small qty. but did well!
 

gkpc

Well-Known Member
#8
Hi RH,
01. Please post a few charts if possible with Supertrend as used by you.
02. What is todays status of your Silver short from 44500 !?
03. Do you trade Options in combos or plain Buy /Sell CE and PE?
 

jassinko

Well-Known Member
#9
RH......what to do when your SL hit immediately at mkt open......eg: ur SL in silver short is 43500...what if it will end day before at 43300 and open next day at 44400..... u will take lose and reverse or wait for some retracement???

i m a big loser here.......no discipline
 

rh6996

Well-Known Member
#10
RH......what to do when your SL hit immediately at mkt open......eg: ur SL in silver short is 43500...what if it will end day before at 43300 and open next day at 44400..... u will take lose and reverse or wait for some retracement???

i m a big loser here.......no discipline
Yes this happens though rarely but can eat into profits as well as a Trader's confidence ! :eek:
My most trades are Stop and reverse ! I usually reverse the trade at the opening level which is not the open, but the high of the first 5 minutes bar ! I wait for first 5 minutes and then take the trade. If open is above my SL level, I risk those extra points for giving space to my trade to maneuver !
In present trade I am short from 44500, and already 1000 points taken off the table hence am relaxed and wont mind a small set back. Overall Silver has been kind to me this year so much more relaxed in trades. If mkt breaches yesterday low, I will get a lower reversal level !
I am looking for a good Intraday data provider for MCX and shall try to handle my trades as per EOD charts in lower TF !