Breakout in copper

[piyush08]

can you breakdown the costs that you incur on the same ?


cheers,
piyush

 

[rishikesh_m]

Piyush

If you are talking of using esignal with ami (or metastock)

these are their Data only package -

Charges:
eSignal DM: 55$
Future Access Fee 35$
COMEX 78$
MCX 12$

(NSE is $23)

However I encountered some problems and asked for cancellation.

If you have customer support problems -- they ask you to contact your software service guys and ami guys ask you to contact esignal.

its a nice game of ping pong.

---

I would say if you want esignal contact viratech people, i have heard from one of their customers that viratech does provide esignal data and their customer support is good. Before purchasing , confirm with them that there will be proper support for data integration.

 

[rishikesh_m]

Just checked on their forum NYMEX seems to $58

Also just to add this is what an esignal guy wrote to me -

exchange COMEX only covers gold, silver and copper. The other US exchanges such as NYMEX, CME, CBOT, ICE US cover the other markets. If delayed access is ok for you, the delayed north american futures package should be ok for you.

You could add the Delayed North American Futures package for $17 which would give you delayed access to all North American Futures data. The delay could vary from exchange to exchange between 15mins and 20 mins.

 

[rishikesh_m]

Enough discussions on esignal

Generally I notice Copper moves in tandem with S&P 500

At least two good analysts i follow (in US) are giving a target of 1330-1340, although
there might be corrections along the way.

In that sense, it makes sense going long in copper, when it is oversold in lower time frame like 60 to 240 mins, based or whether you are a swing or position trader.

 

[Half Paisa Brokerage]

i think, comex breakout is best to anaylyse rather than mcx

am i correct? we always see us market for price movement. we are always depending upon them. when will it be changed?

 

[piyush08]

ok. im confused here. plz explain. why are we using two softwares here - amibroker & esignal... and viratech is the firm run by Sudarshan sukhani right?

 

[rishikesh_m]

amibroker is a software

esignal (Data only) is data provider

esignal does have its own software called Advanced GET - but costs 1.7 lakhs RT version

Viratechindia (look up on google) i think it is run by a person called Mohinder.

He is the developer of RMO - a form of oscillator.

 

[piyush08]

@ half paisa - yes obviously it makes sense to look at the particular product in US to determine pattern, trend etc.. it wont change, why will it change.. as long as there is arbitrage the futures will move in tandem.. and as far as i understand crude and copper final contract settlement price is also determined using CME crude futures settlement price. Online CME futures leads in price discovery, doesnt matter who is trading on it from where

@ rishikesh - I trade mostly intraday only, i prefer it that way. hit with the momentum, and book profits during the day itself.. go home flat.. i was struggling till 2010 end.. have learned to make money in 2011. was an awesome year. very rarely i carry positions overnight but that's when I have enough conviction in a trade and that too I would book the next day. more so, i only carry positions in profit and not losing ones. i carry positions often in India F&O as its difficult to make money otherwise. mkts been pretty kind there in last 1 week.

with regards to copper & snp moving together. not really. i don't believe this. there is risk on - risk off. but ultimately over a timeframe of few days each market follows its fundamentals.. ive been trading since 3 yrs.. and seen this often.. so while snp ended 2011 flat, copper ended it down more than 20%..

oh yes.. rahul mohinder..

rishikesh - you know what.. i use a software called futuresource.. apparently its also owned by esignal only.. it has only the data charges. .i think similar to wt you mentioned.. costs my firm around 300-400 USD per month.. for all markets.. thing is, i'm not able to find out information from them with regards to whether its availabl to individuals and how to pay for it.. i use it via my the firm i work for..

 

[rangarajan]

@ half paisa - yes obviously it makes sense to look at the particular product in US to determine pattern, trend etc.. it wont change, why will it change.. as long as there is arbitrage the futures will move in tandem.. and as far as i understand crude and copper final contract settlement price is also determined using CME crude futures settlement price. Online CME futures leads in price discovery, doesnt matter who is trading on it from where

@ rishikesh - I trade mostly intraday only, i prefer it that way. hit with the momentum, and book profits during the day itself.. go home flat.. i was struggling till 2010 end.. have learned to make money in 2011. was an awesome year. very rarely i carry positions overnight but that's when I have enough conviction in a trade and that too I would book the next day. more so, i only carry positions in profit and not losing ones. i carry positions often in India F&O as its difficult to make money otherwise. mkts been pretty kind there in last 1 week.

with regards to copper & snp moving together. not really. i don't believe this. there is risk on - risk off. but ultimately over a timeframe of few days each market follows its fundamentals.. ive been trading since 3 yrs.. and seen this often.. so while snp ended 2011 flat, copper ended it down more than 20%..

oh yes.. rahul mohinder..

rishikesh - you know what.. i use a software called futuresource.. apparently its also owned by esignal only.. it has only the data charges. .i think similar to wt you mentioned.. costs my firm around 300-400 USD per month.. for all markets.. thing is, i'm not able to find out information from them with regards to whether its availabl to individuals and how to pay for it.. i use it via my the firm i work for..

Dear piyush,
As u r trading COPPER successfully in which my interest goes,pl clarify the following if possible:

a)Most of us trade based on MCX price & the chart we see for intraday or positional is also based on the same.

But,from discussions here,i understand that MCX is only 'Follow the Leader' & the Leaders are S & P,COMEX,CME,etc.

That being the case,is it alright if we follow & Trade, the patterns,Trends,indicators,oscillators developed in MCX price based charts.
Because,there may be lag with the Leaders,due to time,news,rupee parity,etc& chances are,we may be caught unaware.

How you protect your position against such uncertainties?

With my limited knowledge,i also note that invariably, volatility & Momentum start only after 4pm(our time) & lasts till 9pm.But you say that you close intraday by day time.What is yr experience.

Along with MCX,are we to monitor any other prices(other exchanges) continuously for intraday,EOD.If so can u pl provide the link.

It is always wise to follow the successful.

Unless,your trading technicals are proprietary & confidential,could u share the out lines of yr methods like indicators,oscillators,time & other relevant factors.

Best of Lucks.

 

[piyush08]

Hi Ranga,

Yes you are right, most of the movement in commodities happens only after 6pm currently (5pm after march when DST changes). This is when traders in US come to their desks and leads to decent moves. Ideally one should trade only in the evening as trading during day time is a net net loss making idea.

I trade equities/fx till 3:30/5pm and after which I trade commodities on MCX. I trade till when MCX closes. Nothing is prop, cause I don't have a secret sauce. I use no indicators. I simply have a screen with 5 min candlestick chart of various products - Eur, GBP, Yen, CHF, AUD, S&P 500, Treasury 10 yr futures, Crude, Copper, Gold, Silver, NG. I just follow and trade with the momentum.

For intraday trading, specially the kind I do, you can make do with MCX charts as momentum should be clearly visible. For deeper analysis, positional/swing trades, Support/resistance levels, breakouts, CME charts are more appropriate. It could be the case that having access to CME gives one a slight advantage, but that's just maybe a half second to 1 second advantage. Prices on MCX reacts very very swiftly to movements on CME. I use CME charts.

For free access to charts for these markets I use MT4 software with feed by GCI or XTB. Go to their site, choose Open Demo account and then register and download MT4. There you have charts with live feed (free) for many many products (including Nifty !!) ...

All fx pairs, Nifty , USD-INR, All commodities, Base metals (feed from LME), Other commodities not traded on MCX etc etc.. pretty good to use..