Copper is Angel and not Human :)

Hi All,
I am starting this thread (and hope to continue) for learning and commenting purposes.
The idea to generate cash flows for a non day trader person who has a day job but he can monitor trades on hourly basis.
I believe most of the systems (non option) works well on trending days/times. So my endeavour is to fund trending stocks/commodities. I want to check how MCX Copper responds to my system and feedback from other traders.
I am a big fan of simplicity so this system (well system name itself looks complicated) so lets call it as method, it is nothing but a moving average cross.
Most of us believe that MA based systems will give a lot of whips, I am no different. So I want to check that if this method works on copper (which I believe is a trending commodity with less tails).
Method parameters:
1. Fast average = 8 EMA
2. Slow average = 21 SMA
3. Time Frame = 60mins
4. Commodity = copper
5. Make use of supports/resistance/pivots for profit booking entry and SLs
6. Buy after a strong downtrend and sell after a strong uptrend on MA cross
7. Keep SL below the previous pivot or last 2 bar high/low depending on your risk appetite
8. Book profit using trailing SL or after a good move

Remember guys this is not the most scientific system, I never traded this and I am just checking if this works or not.
Please do not ridicule or laugh at me for posting such simple method as I do not use AFL and I don’t understand complex stuff.

hi,

who is your chart vendor?

trading commodities is far more lucrative than trading stocks/index futures thats my exp. as they trends more or for me i can read the comm charts better.

i was trading nf intraday but this month onwards has stopped completely trading it and only trades crude intra. As off now for me its one of the best decisions I have taken in my trading business.

What ever time frames you select to trade commodities if you have decent to good system/method you will make profits. with the launch of mini and micro lots in almost all mcx commodities (barring NG) it becomes possible to swing trade comms from EOD charts. 3-5 days swing trades can be taken profitability from eod charts.As off now I am not trading EOD but i will shift to it soon, once get settled with my routine for crude intra.

moving averages crossover although i dont use but they do work if you know where and when to take crossover trade. Only drawback which I can see is that you have to keep deep sl, which is possible as you can manage position size in comm. In fact my observation is that with crossover you can enter at an early stage in wave 3 (keeping in mind you have basic understanding of EW). and you can ride most part of it.

as you are trading 60M tf try to align EOD and 60M it will give you wonderful profits.

All the best.

This one is free bazar trend.

Alignment I believe is better in terms of using support and resistance from EOD chart to enter and exit trades. Other alignments fuels complexity...

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i think if you are using its free chart just check it they have delay of 15 mins

You can also visit the above thread.

I had given a second though to swing trading in commodities and realized its not worth the effort. Consider this that the mcx is open for more than 12 hrs, its quite tiresome to watch your trades for such long duration. While as compared to equities they are open only 7 hrs so its easier in that sense.
Other members may have different views on this.

Having said this I still believe in the above method and just to add to the above points one can take entries after MA cross with SL belove last pivot WRB bar etc. Keep position sizing and SL in mind or use limit order to get a better price...

I request mods to please delete the thread and everyone who visited please pretend/forgot that such thread ever existed

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