anyone earning consistent profits from part time commodity trading

[anuragmunjal]

"successful traders have a complete commitment to trading and do it full-time."

is this true?
cant part time traders be fully committed. is this absolutely necessary to watch the screen 12 hrs a day(nse open to mcx close) to become successful.

any views please

Thanx

it depends on your trading method.. you can successfully trade part time too, provided there is movement at the time you choose to trade.

regards

 

[sangram1705]

it depends on your trading method.. you can successfully trade part time too, provided there is movement at the time you choose to trade.

regards

yes sir,
Timing is very important. One has to identify those timing slots. A few I have identified:
1) NG timing (19:58hrs thurs)
2) crude (19:58 hrs wednesday)

Can u give some more inputs.
Regards

 

[sangram1705]

I am going through your posts. I will revert back

 

[anuragmunjal]

yes sir,
Timing is very important. One has to identify those timing slots. A few I have identified:
1) NG timing (19:58hrs thurs)
2) crude (19:58 hrs wednesday)

Can u give some more inputs.
Regards

you are referring to specific news based events. this will occur only twice a week. normally a good time to trade commodities would be between 6 pm and 1130 pm, barring a few exceptions. for instance, today is an exception where there is movement in most of the commodities since morning.
if you plan to trade part time, make sure you choose a method which is strictly intraday. if not, then your positions should be hedged.

regards

 

[waktem]

This new formula by part time trading will be a good opportunity I see in the market.

 

[sangram1705]

Sir,
its true, I agree with you.
YES I AM REFERRING TO CREATE HEDGE POSITIONS WITH SL DURING INVENTORY TIME.
I AM NOT RECOMMENDING TRADING ON NEWS BASIS. I DONT FEEL THERE IS ANY HARM TO REPEAT THESE TWO HEDGE TRADES WEEK AFTER WEEK.

 

[anuragmunjal]

Sir,
its true, I agree with you.
YES I AM REFERRING TO CREATE HEDGE POSITIONS WITH SL DURING INVENTORY TIME.
I AM NOT RECOMMENDING TRADING ON NEWS BASIS. I DONT FEEL THERE IS ANY HARM TO REPEAT THESE TWO HEDGE TRADES WEEK AFTER WEEK.

that indeed is good thought process. if it is only at these two times you want to trade it is fine. I got the impression that you were asking on a broader perspective.

regards

 

[sangram1705]

what action should a trader take when a commodity hits upper circuit???????
a) sell
b) buy
c) hedge
d) simply stay out & watch

(personally i would like to take a chance by hedging. Although it gives +ve results 1 in 4 times. still i am able to satisfy my mind & protect my capital by getting into trade.)

comments & criticism invited from all experienced traders.

 

[sangram1705]

I am learning a lot from this forum. thanks to traderji members.
atleast i think i have learnt when to buy/ sell. but couldnot find any relevant threads to learn when to book profits & that is killing me.

seniors pl guide me.

 

[Smart_trade]

what action should a trader take when a commodity hits upper circuit???????
a) sell
b) buy
c) hedge
d) simply stay out & watch

(personally i would like to take a chance by hedging. Although it gives +ve results 1 in 4 times. still i am able to satisfy my mind & protect my capital by getting into trade.)

comments & criticism invited from all experienced traders.

If it hits a upper circuit and if we could buy just before the circuit level, buying will be the right action.A commodity which hits upper circuit is expected to trend strongly higher for next few days .So I will buy and keep a stoploss just below the buy level...

Smart_trade