Crude oil is a human

[Tamil trader]

Experience 3:

The first part of the technical analysis is about reading and understanding the chart. Specially to know about candle stick formation. As this is for beginners, i will show you how candle stick chart is formed.

There are more types of candlestick chart patterns. but first of all, we should know how candlestick is formed. and then easily we can understand about other types of candles in the upcoming lessons

The white candle indicates the positive closing of the commodity

The Black Candle indicates the negative closing of the commodity

These candles can be applied and seen for every 5 minutes, 15 minutes , 30 minutes or daily basis, or for any time which is required by traders using amibroker or other softwares

If you are able to understand the formation of the candlestick, next we can see about finding support and resistance for crude oil every day without any confusion

Regards

Vinoth

Tamil Trader

 

[malayamoorthi]

Sir very new to trade i cont understand this plz explain

 

[Tamil trader]

Experience 4

What is trading? Why we come to market?

To make money only.... This is only the goal for all the traders. we are not coming for learning or not for excitement.... understand first....

So Trading is nothing but the result of the trades what is happening after you enter the market....

Know one thing..every price is not a trading price... every day is not a trading day...So Entering the correct time is always must in the crude oil...

Always dont try to average in the falling market... because it is just like a catching the falling knife...

Dont always bias with one trend... within a day , two to three times trend will be changed in crude oil easily...Whenever there is a change in the trend, you should always exit the current position whether profit or loss and change your trend...

if you are thinking to exit on the trend reversal, you cannot always make profit in crude oil. So Acting quickly on trend reversal is always important.

This post is just psychological concept to create self-control and discipline..

i believe, Upcoming lessons will give you full-fledged knowledge. Due to time constraint, i am giving here step by step activities to be learnt from crude oil.

Regards
Vinoth
Tamil Trader

 

[precisiondice]

Sir!
I'm really Happy to see this thread. It is different from other Threads such as approaching commodity as a living thing and as well as the psychological way of approach. Thank You all the best!

 

[Tamil trader]

Experience 5

The below is for some general knowledge about candlestick bars for newbies

1. Long white candlesticks indicate that the Bulls controlled the ball (trading) for most of the game.

2. Long black candlesticks indicate that the Bears controlled the ball (trading) for most of the game.

3. Small candlesticks indicate that neither team could move the ball and prices finished about where they started.

4. A long lower shadow indicates that the Bears controlled the ball for part of the game, but lost control by the end and the Bulls made an impressive comeback.

5. A long upper shadow indicates that the Bulls controlled the ball for part of the game, but lost control by the end and the Bears made an impressive comeback.

6. A long upper and lower shadow indicates that the both the Bears and the Bulls had their moments during the game, but neither could put the other away, resulting in a standoff.

If you have any doubts, please ask here. then only, this will be better for me to give more details in this thread in future.

Thanks
Regards
Vinoth
Tamil Trader

 

[Tamil trader]

Experience 6

Open interest Clearly indicates the trend

The simple analysis for newbies to find the trend by watching the open interest.

1. If open interest increases, and price increases- This is a strong buy trend

2. If open interest increases, and price decreases- This is a strong sell trend

3. If open interest decreases, and price increases- Weak Buy Trend

4. If open interest decreases, and price decrease- Weak Sell Trend

Ask your doubts, if you are not able to understand
Regards
Vinoth
Tamil Trader

 

[saptarshi.kes]

One basic question. What is open interest?

 

[Tamil trader]

One basic question. What is open interest?

if you use ODIN, press F5--- you can see the open interest

If you use Nesttrader- press F6- you can see the open interest

open interest means

Total outstanding position how much lots traders are keeping in their hand without executing the transaction

for example, if you buy 10 lots crude oil today, today open interest is 10 lots

for example, if you sold 2 lots out of 10 lots today, total open interest is 8 lots

the above example is only for you. but open interest refers to the total net position volume of all the traders

 

[saakk]

Experience 1:

There are lots of commodities like gold, silver, copper, nickel, zinc, lead, aluminium, natural gas, etc....

But my favourite is crude oil...

To win in the commodity markets, one should be able find the support and resistance for every product. if we are able to find the support and resistance, we can easily find the trend, and we can easily predict the entry price whether SELL or BUY.....

For my personal experience, Crude oil is always technically traded by all the winners... so i also prefer...Even every Strategy designer also tests first in crude oil or nifty... If they give good winning ratios, they will apply and test for other products...

Do you know one thing? Nifty and Crudeoil - Both are 4 Digit products....

Watch every movement with full interest in crude oil, one day you will find what is going to happen in crude prices....

Upcoming lessons are on the way.. please wait ...

Regards
Tamil Trader

:thumb::thumb::thumb::thumb: ...........BEST ADVICE...........

 

[Tamil trader]

Experience 7

Dont See the total buyers and total Sellers

Every newbies are trading with some simple concept by seeing total buyers and total sellers. i have seen many newbies in broking firm.

This is totally wrong thing.

If the buyers are high, immediately they will buy the crude (Because Short covering order is also shown in the buyers list. then, how do you decide to go long?)

if the sellers are high, immediately they will sell the crude ( Because Profit booking order is also shown in the sellers list. then, how do you decide to go short?)

but there is no use of watching the total numbers of buyers and sellers quantity

So, If you are watching the total number of buyers and sellers, and decide to trade on that basis, you cannot always win in the trading. so leave it watching this. this is my kind advice for newbies....

Regards
Vinoth
Tamil Trader