Trading FxCommodities With Me

[hir0406]

Thanks Ashu for ur prompt reply and keen observation , i m trading since last 10 yrs but in and out, recently i got inclined towards forex and have opened an a/c with FXCM UK, from all the pairs traded in forex wht i have observe is Gold follows technicals more religiously than others, could u suggest me any good websites where news related data can be found also is there a good plugin for MetaTrader 4 in which news events can be directly shown on charts.

Regards,
Sunny.

myfxbook is good to see news
and search for ffcal indi {forexfactory calander} this show data on chat of mt4.
hope this will help.

 

[hir0406]

ashu your indi looks good.thanks
but i prefer myfxbook news page more then ff.
hope someone can put myfxbook indi also.

 

[sunny_16977]

Thanks Ashu & Hir, wil definately try it wht u have suggested

just applied the time zones on Gold its amazing.

 

[ashu1234]

Thanks Ashu & Hir, wil definately try it wht u have suggested

just applied the time zones on Gold its amazing.

Hi sunny,
If you have fxcm live account now, could you please share ssi indicator. I need it on some particular time for my positions. It would be great if you can do this favor.

thnx.

 

[Deepika sahney]

Gold stopped out at night.

Hello sir,

I have a question.Gold reached its high of 1900+ $ and corresponding high in mcx gold was around 32400+.
Gold fell below 1200$ and mcx gold to around 25000 +.
Gold is now 1400+ $ which is only 200$ from the recent low but Mcx gold is at lifetime high?
Can u explain the reason for that ?

 

[ashu1234]

Hello sir,

I have a question.Gold reached its high of 1900+ $ and corresponding high in mcx gold was around 32400+.
Gold fell below 1200$ and mcx gold to around 25000 +.
Gold is now 1400+ $ which is only 200$ from the recent low but Mcx gold is at lifetime high?
Can u explain the reason for that ?

Hi,
I prefer to be called by name than sir

Yes there is a huge difference between comex rates and indian gold rate.
This is because of usdinr rates and raising of taxes like import duties.

Simple calculation of gold is like this
Indian rate of gold = Comex rate X USDINR + Taxes(import duty is the major one)+conversion of ounce to gram(assume it as constant)

So our govt has increased taxes which adds up to 1500-2000 Rs increase in gold prices on MCX. Plus there is depreciation of USDINR i.e usd inr has increased from 56 in May this year to 66 till date.

So if we assume comex gold rate as stable, still there is increase in prices of gold due to usdinr, import duties and physical shortage of gold in domestic prices thats why gold in our country is much higher.

 

[sunny_16977]

Hi Ashu,

I was not familiar with SSI before so it took me some time to reply back, i logged in to dailyfx.com to get SSI but found it to be presented as a report twice daily on this website.

Pls let me know if im missing something.

 

[ashu1234]

Hi Ashu,

I was not familiar with SSI before so it took me some time to reply back, i logged in to dailyfx.com to get SSI but found it to be presented as a report twice daily on this website.

Pls let me know if im missing something.

Thank you very much. Yes i read that they update data twice a day. They have mentioned that this sentiment tool is available exclusively for live account holders. I'm yet to figure out what's the exclusivity if live account holder and normal visitors have the same access to this info at the same time. Could you please dig a bit deeper in this regard.

 

[sunny_16977]

I went thru the last report of SSI given on the website which was of 28th Aug 2013, i found USDCHF interesting, go thru the charts and let me know as the Bullish sentiment has gone down 50% in USDCHF, also r u on whtsapp .....

 

[sunny_16977]

Good Setup for a Short as per SSI it seems, What say.....