Crude intraday calls

[jay4joy2004]

pair 2 :
2 LOTS MINI

 

[jay4joy2004]

pair call 1:
update crude 6038 - ng 249.10
profit 3700 as of now

 

[jay4joy2004]

booked pair 1 @ 6600 profit
crude 6014
ng 249.3

 

[sijojohn100]

Todays call was what?

 

[jay4joy2004]

Sell crude cmp 6045 sl 6075
tgt later

 

[jay4joy2004]

SL hit.....................................

 

[jay4joy2004]

crude buy cmp 6246
sl 6228
tgt 6266 - 6280 - 6303

 

[jay4joy2004]

6262 high so far....

 

[market oracle]

Guys,

I have a question for you. How do you take logical trades in Crude Oil, Natural Gas, Silver or any international commodities? When you talk about stop losses and targets in these trades, don't you think that it is impossible to take logical or clean trades as there is the dollar effect that fluctuates the price of these?/

For example, If you buy Silver Futures at say, 42000.
The next day, Comex Silver goes up, so does MCX silver. What if on the same day USDINR comes down (Dollar Depreciates against rupee) ???

Don't you guys factor in such things? Because clearly trading commodity futures like silver/crude is = trading a double derivative of Comex Silver/Nymex Brent crude & USDINR.

 

[bschandran]

Guys,

I have a question for you. How do you take logical trades in Crude Oil, Natural Gas, Silver or any international commodities? When you talk about stop losses and targets in these trades, don't you think that it is impossible to take logical or clean trades as there is the dollar effect that fluctuates the price of these?/

For example, If you buy Silver Futures at say, 42000.
The next day, Comex Silver goes up, so does MCX silver. What if on the same day USDINR comes down (Dollar Depreciates against rupee) ???

Don't you guys factor in such things? Because clearly trading commodity futures like silver/crude is = trading a double derivative of Comex Silver/Nymex Brent crude & USDINR.

Hi

Yes USD, INR and the international price -- all have an effect on the commodities on MCX.
Go through these threads and you will understand-

By Tamil trader -
http://www.traderji.com/energy/89684-crude-oil-human.html
By DSM -
http://www.traderji.com/commodities/92925-view-commodities.html

You do need to know what is happening on the international front n INR.
If you go purely by price action and trade only intraday on 5M or 15M charts then then all these effects can easily be handled (or traded) as you use price action. But I think if you do positional trading then you need to keep more focus on what is happening with USD, INR, news and the price on COMEX or NYMEX, coz of overnight changes.

Hope that helps.