For new commers(MCX)

M

mathura

New Member
#1
#1
I started to trade in mcx from last march.You might have heared people
burning their fingers, but I burnt my hand.I did few alluminum lots and made
few rupees. But the Same alluminum burnt me big.Then made few trades in other commodities and few + few - .Net is big L.
I understood that market is not wrong, but I do'not know how to do it?
But kept trying. Resently I came across few friends who told me about Pivot
R1,R2 etc.., I realy stunned to see market moves in this points and rests in this points.

What I want you people to help me is recover my big L.Curently short in april potato @ 606.5.

My advice to new commers to MCX.
1.First trade in book(write IN paper)
2.Follow Pivot points.
3.Sell or buy but the entry point to good.
4.Never take more than one position in one commodity.
5.Objective is very importent.
6.E(emotion) F(Fear) G(greed) H(hope) not allowed in commodity trading.
 
A

amarnath

Guest
#4
#4
mathura said:
I started to trade in mcx from last march.You might have heared people
burning their fingers, but I burnt my hand.I did few alluminum lots and made
few rupees. But the Same alluminum burnt me big.Then made few trades in other commodities and few + few - .Net is big L.
I understood that market is not wrong, but I do'not know how to do it?
But kept trying. Resently I came across few friends who told me about Pivot
R1,R2 etc.., I realy stunned to see market moves in this points and rests in this points.

What I want you people to help me is recover my big L.Curently short in april potato @ 606.5.

My advice to new commers to MCX.
1.First trade in book(write IN paper)
2.Follow Pivot points.
3.Sell or buy but the entry point to good.
4.Never take more than one position in one commodity.
5.Objective is very importent.
6.E(emotion) F(Fear) G(greed) H(hope) not allowed in commodity trading.
Click to expand...

I like to advice you pivot are not just magic and there is no static rule in market like support should hold and resistance cant broken pivots are just very simple past price derivative based on little maths nothing else really and whole market and event is more complex to be consistently profitable with just using strategy based on pivot

1. I agree demo trading helps but its not end solution as in real trading emotion play more role as real money is involved
2. Market is random so nothing is mechnical if you wont adjust to market cycles and optmise your system
3. Follow pivot is ok but not true end solution if you want to trade professionally
4. More than one or many depends on one's equity and money managment and sizing techniques
5. last point easy to be said than done


wish u all good lucks good trading
 
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