Non Ferrous metas : Cu Al Pb Sn Zn Ni

[umeshmandal]

Check brokerage calculator here:
https://zerodha.com/brokerage-calculator

I guess RH has already given link to this before.
With Zerodha your net point to break even is .05 paise, which is basically equal to 1 tick
So you'll make 150 net if you trade for 20 paise.

Well metals are different thing but it might suit to some as per their trading style. If you spend enough trading time and screen time on metals target of 200 rs is comparatively easy as compared to crude's 20 points. But if you are used to trade crude you'll find it odd to see base metals movement, they linger all the day, and not that much volatile, but when they move they make sudden jump(you can see it on charts yourself). It depends on you which suits you better, but investment wise they are cheaper and will be low on turnover. Volumes are enough that is sure thing for Lead and Zinc, a bit less in aluminium. If you want to scale up then go for Lead Mega(5000) lot, it will not be a problem. liquidity is always there.

Thaks for your time and effort. Did visit the Zerodha link. I was fascinated by all this talk of making money by just 20p move etc. but realise that how much wealth it can add to do if done consistently.
So would it be correct to presume that its better to trade higher frame charts in metals as the moves are lingering and not fast or better stick to lower time frames like 5 minutes. Do mention the Time frame you suggest or you trade in metals?
Ever traded Gold Silver Ashu: Gold leaf or Silver micro? Just curious.

 

[ashu1234]

Thaks for your time and effort. Did visit the Zerodha link. I was fascinated by all this talk of making money by just 20p move etc. but realise that how much wealth it can add to do if done consistently.
So would it be correct to presume that its better to trade higher frame charts in metals as the moves are lingering and not fast or better stick to lower time frames like 5 minutes. Do mention the Time frame you suggest or you trade in metals?
Ever traded Gold Silver Ashu: Gold leaf or Silver micro? Just curious.

About wealth creation - you are exactly right, too much potential if simple points are added consistently. Here many threads have started for taking consistent profit with instruments like Nifty or silver, but the catch is its all about timing and consistency. Very hard to maintain even by experienced trader. If you enter market at wrong timing you end up hitting stop loss, to cover that you take 2-4 trades and this leads many traders into unending circle. Market surely gives those easy moves but when it will give is not certain, and we human cant time that, sometimes easy tradeable moves comes right at the half hour of market opening sometime in the middle of the day and sometime at night, that's why results are different for everyone. I am striving to do the same, catching small but sure moves consistently.

For metals if your target is 10-20 paise go for 5 minutes, I use PA so its easier for me to spot and trade, it depends totally on your way of trading. For higher points which I say reasonable and tradeable is 30 -1.5 max you can swing trade on 15 minutes to hourly.

Gold and silver yes, in past 6 years have traded everything, initially started with research guy then done some brokerage generation, and finally settled down for my own full time setup recently.

Gold one should avoid trading as its high turnover instrument, one ends up paying too much taxes, but if for positional then ok, same goes for silvermicro.

 

[rh6996]

Hi Ashu, Mind sharing the details or just the basics of your PA trades, what are the things you look at , keep your focus on and what are the things you ignore!
No hurry, take your time please. :thumb:

 

[ashu1234]

Hi Ashu, Mind sharing the details or just the basics of your PA trades, what are the things you look at , keep your focus on and what are the things you ignore!
No hurry, take your time please. :thumb:

For 15 points trade too much detail will be cumbersome, as when it is in movement anyone can make it. I saw your BB charts, they serve enough for trades. I did tried to make notes on international crude chart but moderators deleted coz it was in Real time.

For simplicity(trading few points but with confidence) I proposed some basic ema, which serve the same purpose like your BB, coz all are bands and they serve well giving you initial direction and initial bias of the trade.

Still there are few things which you can add, not to refine but to avoid bad trades like which I feel important and can be combined in BB trades too is when BB direction or shift is down, just like EMA trades, wait for the price to reach and hit upper BB or EMA, watch PA there, if it reverse then trade with minimum stop loss like 5rs in mcx, or 20 cents in International crude. When downtrend is confirmed I only look for selling and ignore buy signals, unless there is significant buying interest which can be known by good volume and again break of upper BB or Higher moving average and sustainability of price above that. Currently crude is down fundamentally as well, so it gives me confidence to sell which is something apart from TA, but its somewhere inside in my mind, but that is only for the purpose of avoiding reverse trade.

Few other things are there too like volatility and identifying market type (rangebound, rangebound with volatility, uptrend and downtrend) but this is can be muted off for the time being as its more useful for larger points.

So everything is simple, just need to identify what trend is it and trade as per your conviction. 1 to 2 trades are enough, I saw you traded today 5 trades on chart, which might complicate risk and reward in longer run, so if you come only for 1-2 definite trade you might scale up on same 1-2 trade, instead of doing 4-5 trades, but yes, I admit 4-5 trades is sometime fulfilling as gives more sense of winning and control, which I also trying to let go.