Tricks for Mcx Silver gamble
- Thread starter krishankk
- Start date
1. Which broker do you use
2. What is the trading platform
3. Which indicators do you use
4. What is your experience of success ratio
These are critical issues which will help the forum members.
My experience in commodity trading, learning from success/failure is as under:
1. Reliance Commodities as less brokerage broker
2. Simultaneous monitoring of MCX and other Realtime Price movement observation
3. Monitoring MetaTrader4 demo version of any foreign broker, who also show price movemet of gold and silver
4. Adoption of Simple Moving Averages-3 of 20 and 10 periods for cross over for trend change
5. Stochastics with modification to 10 and 90 instead of 20 and 80 default set up.
6. Verify and act when the line crosses 10 upwards and 90 downwards comparing with MA trend line cross over.
7. Having Bollinger Band can help when the price closes above bottom band or below upper band. These are helpful in quick decision making.
8. Be prepared to take profit as it comes and minimise loss when the market moves against the trade.
9. A painful experience is when we become greedy to hold on, instead of getting out. All my losses small and big are result of one single factor: waiting for something favourable.
I learnt that the market is least concerned with individual investor/trader's thinking or welfare! If we are not moving with the crowd, however correct may be our economic judgement, either we have to wait for unknown period or incur losses due to our obstinacy.
I shall thank the forum members to enlighten how the crowd psychology affects our short term decisions.
Hope this helps.
2. What is the trading platform
3. Which indicators do you use
4. What is your experience of success ratio
These are critical issues which will help the forum members.
My experience in commodity trading, learning from success/failure is as under:
1. Reliance Commodities as less brokerage broker
2. Simultaneous monitoring of MCX and other Realtime Price movement observation
3. Monitoring MetaTrader4 demo version of any foreign broker, who also show price movemet of gold and silver
4. Adoption of Simple Moving Averages-3 of 20 and 10 periods for cross over for trend change
5. Stochastics with modification to 10 and 90 instead of 20 and 80 default set up.
6. Verify and act when the line crosses 10 upwards and 90 downwards comparing with MA trend line cross over.
7. Having Bollinger Band can help when the price closes above bottom band or below upper band. These are helpful in quick decision making.
8. Be prepared to take profit as it comes and minimise loss when the market moves against the trade.
9. A painful experience is when we become greedy to hold on, instead of getting out. All my losses small and big are result of one single factor: waiting for something favourable.
I learnt that the market is least concerned with individual investor/trader's thinking or welfare! If we are not moving with the crowd, however correct may be our economic judgement, either we have to wait for unknown period or incur losses due to our obstinacy.
I shall thank the forum members to enlighten how the crowd psychology affects our short term decisions.
Hope this helps.
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