technical analysis for commodity market...need help..!!

[melissa1991]

i have found many threads over here telling about the different methods n strategies to trade in commodities and every one tells me to adopt technical analysis to trade in commodity. i am trading from the past 6 months n i have made sustantial profits. i expect to make a profit of 1000rs per day n i sucessfully achieve dem as well bt due to 1 or two losses in a month of approx 5000rs i lose all my profits n im bac to square 1.
i am a student and im studying financial marketing in my graduation course. trading is more of learning for me bt i expect 2 earn atleast 20% of my investments so dat i can create a back up as im a student and i hv a very limited capital 2 invest.
i also go through all da news daily on da commodities i trade in....does dat make a difference???
i hve also researched about real time data feed. is buyin one useful..??? is der nythng else i should research on??
please help me out. i will be very obliged if anyone can guide me through this learnin process. thankin u..
regards
melissa d'silva

 

[asoka_2009]

Hi Iam a commodity trader i want to know about copper ,what is technical outlook about copper? is still right time to buy?or to go to short ? plz suggerst.

 

[sumeetsj]

Melissa..
You can dig the forum for more on Technical Analysis,
post specific queries, i am sure most of them would be glad to answer.

YouTube is full of videos on Tech analysis.
You can start there and then shoot queries if at all any in the forum.

 

[melissa1991]

Hi Iam a commodity trader i want to know about copper ,what is technical outlook about copper? is still right time to buy?or to go to short ? plz suggerst.

copper is really unpredictive at the moment. According to the news it is supposed to go up. But its on the LTH at the moment so dont try and get into copper. PLay in lead, zinc, aluminium for the moment. Copper trend looks very sideways. It is expected to go up till 470 but with my experience in copper i would suggest u to stay away from it.
thanks

 

[AW10]

i have found many threads over here telling about the different methods n strategies to trade in commodities and every one tells me to adopt technical analysis to trade in commodity. i am trading from the past 6 months n i have made sustantial profits. i expect to make a profit of 1000rs per day n i sucessfully achieve dem as well bt due to 1 or two losses in a month of approx 5000rs i lose all my profits n im bac to square 1.
i am a student and im studying financial marketing in my graduation course. trading is more of learning for me bt i expect 2 earn atleast 20% of my investments so dat i can create a back up as im a student and i hv a very limited capital 2 invest.
i also go through all da news daily on da commodities i trade in....does dat make a difference???
i hve also researched about real time data feed. is buyin one useful..??? is der nythng else i should research on??
please help me out. i will be very obliged if anyone can guide me through this learnin process. thankin u..
regards
melissa d'silva

melissa, first of all congratulation on being consistant in pulling on 1000 rs per day from market. I know the frustration of traders when they give it back to market. To manage that, you need to learn about money management in trading.. it is about putting boundries around risk that u can carry per trade, per day, per week, per month etc. In absence of that, we trader becomes overconfident after few wins and that's when we are most vulnerable to give back our money. overtrading, trading in bigger size, etc are some of the issues that need to be addressed..

I will also suggest you to read and apply technical analysis to improve your trading. Refer to few threads by swingking, saint's thread on - 60 min flow method and some other threads given in beginners section of this forum.
and feel free to ask the questions. In my belief, TA works because it helps you understand the psychology of market participant and reflection of that in price. Price is only important in our trading (buy price minus sell price = profit or loss). Rest all is only input to price. There could be many inputs far beyond what we can think of, hence better to learn price behaviour and use that objectively to take trading decision.

As a serious trader, Forget about news /media or what others are saying cause that will only confuse you. News is great contrarian indicator. It is most bullish near market top, and most bearish on mkt bottoms. Media is in the business of delivering info/data.. It makes no difference to them whether we make or loose money (hence they have disclaimer in small print).

Realtime data - I don't think you will need this until you are seriously into trading. It costs money, and hence will be extra cost to you trading business.
Moreover, it is useful when ur trading is based on technical analysis etc.
There are many free source of data available on the net. You can always get some amount of data from your broker's site.

hope this helps.
Happy trading and learning.

 

[sainipawan]

Hi AW10

can you please tell me which S/W is best for TA in commodities and cheap also??

Thanks

Pawan Saini

 

[hoticecube]

i have found many threads over here telling about the different methods n strategies to trade in commodities and every one tells me to adopt technical analysis to trade in commodity. i am trading from the past 6 months n i have made sustantial profits. i expect to make a profit of 1000rs per day n i sucessfully achieve dem as well bt due to 1 or two losses in a month of approx 5000rs i lose all my profits n im bac to square 1.
i am a student and im studying financial marketing in my graduation course. trading is more of learning for me bt i expect 2 earn atleast 20% of my investments so dat i can create a back up as im a student and i hv a very limited capital 2 invest.
i also go through all da news daily on da commodities i trade in....does dat make a difference???
i hve also researched about real time data feed. is buyin one useful..??? is der nythng else i should research on??
please help me out. i will be very obliged if anyone can guide me through this learnin process. thankin u..
regards
melissa d'silva

if ur interested in Technical analysis..thn go through John J Murphy..!! it'll help..!! n if u can please share ur "secret" to earn 1000/- per day...as i also have been doing it frm the past 6 mnths bt i hardly manage to make 10-12k in a month...

thnks
Akash

 

[melissa1991]

if ur interested in Technical analysis..thn go through John J Murphy..!! it'll help..!! n if u can please share ur "secret" to earn 1000/- per day...as i also have been doing it frm the past 6 mnths bt i hardly manage to make 10-12k in a month...

thnks
Akash

thanks for the info on John .J . Murphy...i hve downloaded da pdf format of the book.
as far as earnin 1000rs per day iz concerned. srsly der iz no secret to it. i used to just b updated with da market news n den play intra day on da daily trend dat i used to come to noe from few online information n my broking service provider. supports and resistance and how da market opens in da mrng. i duno hw to exactly go around da technical analysis process so i used to trade wid da help of dis. i used to play usually in lead, zinc and aluminium in whch i used to nly keep a target of earning 1000rs. bt one or two wrng trades n i used to lose all da profit earned so i wont advice u to do wat i did widout technical analysis...earning 10-12k a month iz gud enuf. u r moving quite consistently..n as ur also trading frm 6months u stand at a b8r position than me...:clap:
increase ur profits slowly n steadily wid money management atleast this iz wat i hv learned from my previous experiences. sumthng iz b8r than nthng or making losses. even no profit iz b8r dan making losses..investment iz mre important.
regards
melissa

 

[hoticecube]

thanks for the info on John .J . Murphy...i hve downloaded da pdf format of the book.
as far as earnin 1000rs per day iz concerned. srsly der iz no secret to it. i used to just b updated with da market news n den play intra day on da daily trend dat i used to come to noe from few online information n my broking service provider. supports and resistance and how da market opens in da mrng. i duno hw to exactly go around da technical analysis process so i used to trade wid da help of dis. i used to play usually in lead, zinc and aluminium in whch i used to nly keep a target of earning 1000rs. bt one or two wrng trades n i used to lose all da profit earned so i wont advice u to do wat i did widout technical analysis...earning 10-12k a month iz gud enuf. u r moving quite consistently..n as ur also trading frm 6months u stand at a b8r position than me...:clap:
increase ur profits slowly n steadily wid money management atleast this iz wat i hv learned from my previous experiences. sumthng iz b8r than nthng or making losses. even no profit iz b8r dan making losses..investment iz mre important.
regards
melissa

okkk....n ya..one thing..wtevr course ur into...is it really helping u in trading?i mean shud one really go fr it..or one can manage without it too..?
n wt do u think about lead right nw? i've a shrt position at 116.00(feb).

 

[melissa1991]

okkk....n ya..one thing..wtevr course ur into...is it really helping u in trading?i mean shud one really go fr it..or one can manage without it too..?
n wt do u think about lead right nw? i've a shrt position at 116.00(feb).

hey really sry 4 the late reply..i was busy wid my coll examz n had stopoed trading for taking a break coz of da losses dat i suffered...
neways about da course....im doing financial marketing n its a new course..it iz basically b.com honours in financial marketing..n it is very useful..i mean i have a lot of theoretical knowledge about the market...it covers all the fields in financial marketing...like equity market, commodity market, corpoarate finance, derivative market, mutual funds, etc...it is a graduation course though...if u hve already finished ur graduation den luk for courses that are offered by NSE, BSE and MCX...they r equally helpful...n they r short term courses so u dun hv 2 put in a lot of tym as well...im plannin on doin such courses as well...u can get the brochere easily either from their site or by going there directly...our coll has conducted "industrial visits" via which i hve gone der n received the information directly from them...do it if u wanna specialize in this field..the courses r according 2 ur need...personally i found the courses offered by BSE n MCX better...
neways all the best:thumb:
if u need any help regarding this then keep me posted i will be more than pleased 2 help u...
regards,
melissa