How to trade Commodities - Gold, Silver, Crude Oil, Natural Gas

Easier to Trade - Commodities or Indexes or Stocks


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#1
Hi Guys!

In this thread i would share some of my Systems and Strategies and free Resources on Commodities. I would request you all to just co-operate and add to the thread constructively because TIME is precious to each one of us.

Just Keep on tracking it for few months and keep practicing analysis and reading good books and you should be bettering your skills each day.

Kamlesh
 
#2
PREPARATION before placing the trade on Daily basis:

I already have Weekly charts, Support/Resistance levels memorized on all 4 commodities and know what it is doing.

1. Read Weekly (on Sunday) and Daily TA on the following link.
http://www.oilngold.com/ong-focus/technical/

2. Check economic calender here and note the times when important news can affect my market. Also US markets Open times.
http://www.forexfactory.com/calendar.php

3. Determine the 'TREND to trade With' on my time frame 5 min.
Dow Theory(HH-HL/LH-LL)/Trendlines/SMA

4. Apply my SYSTEM/Strategies to Crude, Gold, Silver and look for opportunities here.
http://quotes.esignal.com/esignalpr...chart.bardensity=LOW&x=27&y=23&chart.studies=

5. Now i watch live international charts here.
http://www.cx-portal.com/wti/oil_en.html

6. Now i wait for the opportunity to satisfy me completely to place the Entry order always along with a Stop Loss order. If i am scalping the breakout etc. i would place a profit booking order too.


Kamlesh
 
#3
I don't trade any of these commodities as of now but it is really heartening when you see someone put up a post like this explaining their system instead of the "Buy XXX at 1234" posts you usually see on the commodities section.

The Stock Market section has a number of people who share their systems with all of Traderji like Saint, linkon7, Tradewithhunter, and AW10 , but in commodities we are sorely lacking.

Keep it up , Sir. Looking forward to more enlightening posts from you.
 
#4
OPPORTUNITY TYPE - 01 : Trend Reversal.

Tools:

(a) Trend lines any time frame(TF) >=5 min. Higher the TF better.
(b) Dow Theory: HH-HL => Uptrend, LH-LL => Downtrend established in the same TF.

Read as much as possible on how to draw valid Trendlines/Channels and Practice them. This is the Foundation for Thinking among traders.

Suggested Book: Edward n Magee's 'Technical Analysis of Stock Trends'
 
#5
In the chart attached (10 min):

Dow Theory LH-LL told me that trend has changed (Self-Sufficient condition for trend reversal).Now I Waited for the market to rise further so that my Risk-Reward ratio becomes brighter.

My Stop Loss: 2-ticks above LH point.

Entry Point: As close as possible to the down-trendline (For closer look i entered on 3 min TF).

Profit booking by Parabolic SAR.

Simpler Trading, Happier Trading!
 

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#7
Hi Guys!....Plz save your TIME and MONEY on charting from data from MCX as any conclusion about support/resistance, candlesticks patterns or trendline, etc. would be WRONG. MCX trades for 13.5 hrs whereas international markets trade for 23.5 hrs a day.

Why? Because MCX trading follows international prices from NYMEX, COMEX, LME, etc.

Follow international charts only and don't ever pay a rupee to anybody either for software or data or trading system. That's not even needed leave being worth it.

For STOCKS best and most accurate charting facility along with all basic TA tools is available on Reuters website(for free). Suppose you want to analyze SBI click on the link:
http://in.reuters.com/finance/stocks...?symbol=SBI.NS

For COMMODITIES: Suppose you want Silver at your desktop:
http://quotes.esignal.com/esignalpr...&chart.bardensity=LOW&x=29&y=9&chart.studies=

Reuters, eSignal.com, Quote.com all are among the best data vendors in the world. Just their free service is 10-12 min delayed with real time data. Highest accuracy is what i want, which is here, no doubts.

If you want just 30 seconds delayed data for Crude Oil, Gold, Silver go to this link.
http://www.cx-portal.com/wti/oil_en.html

'Higher the TF better the profitability' so 10-12 min delay doesn't affect my trade plan. So where is the need for paying a single paisa to any vendor?

For expert technical analysis also on daily basis here are the links:
http://www.reuterstechnicals.com/cat...ls/daily-nifty
http://www.oilngold.com/ong-focus/technical/

Plz don't ask anybody for tips, check out above links and plan your trade and be self-reliant.

Also you may track my thread and start practicing TA, it's all in the books and out of secret boxes. Anyone can read and learn and trade profitably.

We don't have to discover the Wheel again and again.:)

Kamlesh Uttam
 
#8
For the New traders let me detail my abbreviations.

TF: Time Frame
LH: Lower High
HH: Higher High
LL: Lower Low
HL: Higher Low

LME: London Metal Exchange
COMEX: Commodity Exchange, Inc., USA
NYMEX: NewYork Mercantile Exchange


TA: Technical Analysis.
SL: Stop Loss order

For any other query, post it. Any of the fellow brothers would answer it as soon as possible.

Kamlesh Uttam
 
#9
US Markets Open times in IST:

COMEX : 5:50 PM Indian Standard Time (IST)
S&P500: 7:00 PM IST
NYMEX: 8:00 PM IST

Due to 'day light saving' theses times would get delayed by one hour after last Sunday of October.

All these market open and have effect on Gold, Silver, Crude prices.
Later we would discuss how to exploit these times.


Kamlesh Uttam
 
#10
OPPORTUNITY TYPE - 01 : Trend Reversal.

Tools:

(a) Trend lines any time frame(TF) >=5 min. Higher the TF better.
(b) Dow Theory: HH-HL => Uptrend, LH-LL => Downtrend established in the same TF.

Read as much as possible on how to draw valid Trendlines/Channels and Practice them. This is the Foundation for Thinking among traders.

Suggested Book: Edward n Magee's 'Technical Analysis of Stock Trends'
This is just tip of iceberg :)
 
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