How to trade Commodities - Gold, Silver, Crude Oil, Natural Gas
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Hi Guys,
These are the two trades i took in the last week. Second one turned out to be MASSIVE one due to recession fears.
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I find trading commodities a lot easier as they TREND too often and keep on trending unless proved otherwise.
And there are not daily Gap open/down issues, no CEOs getting arrested. No inquiries for Gold or Silver. No financial results etc.
Well it's up to you if you can benefit from the GREAT TREND.
Kamlesh Uttam
These are the two trades i took in the last week. Second one turned out to be MASSIVE one due to recession fears.
Uploaded with ImageShack.us
I find trading commodities a lot easier as they TREND too often and keep on trending unless proved otherwise.
And there are not daily Gap open/down issues, no CEOs getting arrested. No inquiries for Gold or Silver. No financial results etc.
Well it's up to you if you can benefit from the GREAT TREND.
Kamlesh Uttam
Last edited:
Guys....Check out this trade of mine.
27/06/2011 : (05 min)
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KEEP on REPEATING THE SAME THING AGAIN and AGAIN and become a winner. Best Wishes!
Kamlesh Uttam
27/06/2011 : (05 min)
Uploaded with ImageShack.us
KEEP on REPEATING THE SAME THING AGAIN and AGAIN and become a winner. Best Wishes!
Kamlesh Uttam
Last edited:
Hi Guys!.....meanwhile let me introduce myself.
I am a day-jobber, an IITian, employed in a PSU, R&D division. Have done teaching too so i try to simplify complicated things
.
Well.... i heard the word 'Technical Analysis' on TV then googled it and came to know that markets provide information which can be processed to benefit from it. There are tools and a huge experience of legendary traders.
I kept on reading and reading. I attacked Dow Theory first and then Elliot Wave theory. Then so many books. I always wanted to be a well-read person as an edge is necessary for long term survival. It's all in the books. Thanks to The Internet.
Well... It takes time, hard work and perseverance to become a surgeon, a lawyer, a player, and also a TRADER. But beauty with the trading business is that It is SCALABLE. which inspired me to work hard and harder.
That's up for now. Later we 'll talk other things.
Kamlesh Uttam
I am a day-jobber, an IITian, employed in a PSU, R&D division. Have done teaching too so i try to simplify complicated things
. Well.... i heard the word 'Technical Analysis' on TV then googled it and came to know that markets provide information which can be processed to benefit from it. There are tools and a huge experience of legendary traders.
I kept on reading and reading. I attacked Dow Theory first and then Elliot Wave theory. Then so many books. I always wanted to be a well-read person as an edge is necessary for long term survival. It's all in the books. Thanks to The Internet.
Well... It takes time, hard work and perseverance to become a surgeon, a lawyer, a player, and also a TRADER. But beauty with the trading business is that It is SCALABLE. which inspired me to work hard and harder.
That's up for now. Later we 'll talk other things.
Kamlesh Uttam
Last edited:
These are the two trades i took on Crude yesterday.
05/08/2011 - (05 min)
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Kamlesh Uttam
05/08/2011 - (05 min)
Uploaded with ImageShack.us
Kamlesh Uttam
Last edited:
Well....
I use websites i mentioned earlier for trading plans. I can access live international charts on my mobile and call and trade with the broker.
Software is ODIN-Diet provided by AngelBroking when i am trading 5 min charts in the evening.
Books...Well....I am going to mention few of them hoping that you would read them cover to cover....religiously.
1. CANDLESTICK CHARTING EXPLAINED - Greg Morris
2. High Probability Trading Strategies – Robert C. Miner
3. High Probability Trading - Marcel Link
4. Street Smarts – Linda Raschke and Laurence Connors
5. Trade Chart Patterns like the Pros – Suri Duddella - Check this man's Bibiliography
I would suggest Practice PATIENCE to master TRADING.
Believe me market is the Mother of Opportunities, it would feed you too.
Your opportunity would too come sooner or later.
Kamlesh Uttam
I use websites i mentioned earlier for trading plans. I can access live international charts on my mobile and call and trade with the broker.
Software is ODIN-Diet provided by AngelBroking when i am trading 5 min charts in the evening.
Books...Well....I am going to mention few of them hoping that you would read them cover to cover....religiously.
1. CANDLESTICK CHARTING EXPLAINED - Greg Morris
2. High Probability Trading Strategies – Robert C. Miner
3. High Probability Trading - Marcel Link
4. Street Smarts – Linda Raschke and Laurence Connors
5. Trade Chart Patterns like the Pros – Suri Duddella - Check this man's Bibiliography
I would suggest Practice PATIENCE to master TRADING.
Believe me market is the Mother of Opportunities, it would feed you too.
Your opportunity would too come sooner or later.
Kamlesh Uttam
This is the TRADE i will be waiting for the next 2-3 months.
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I hope it to become another TRADE of THE YEAR.
Kamlesh Uttam
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I hope it to become another TRADE of THE YEAR.
Kamlesh Uttam
Theorem - 04: Market follows the 'Path of Least Resistance' just like current.
(a) When market is loaded with Short positions (OverSold) and cannot go further down and there are signs of stabilization, stay alert a single trigger can surprise the market to the upside. As today is the status. Similarly for long positions.
(b) If market has formed a Resistance/Support line for itself, it pays attention to it in its next visit, It rebounds unless there is a great force (High ADX) to penetrate it successfully.
(c) If a market becomes constrained within two opposite type of Trend lines /bull-bear forces, it expands in the direction of least resistance. Driving force may be Risk/Reward ratio or one-sided market positions, HTF trend or whatever.
Theorem - 05 More Breakouts to the Upside are False than to the Downside.
It is a statistical fact so be cautious and always wait for confirmation. Refer Marcel Link's discussion on this.
Theorem - 06 SHORT SELLING is thrice faster in making MONEY than GOING LONG.
Just because of Gravity (Mass Mentality) working for it.
Check this out.
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Kamlesh Uttam
(a) When market is loaded with Short positions (OverSold) and cannot go further down and there are signs of stabilization, stay alert a single trigger can surprise the market to the upside. As today is the status. Similarly for long positions.
(b) If market has formed a Resistance/Support line for itself, it pays attention to it in its next visit, It rebounds unless there is a great force (High ADX) to penetrate it successfully.
(c) If a market becomes constrained within two opposite type of Trend lines /bull-bear forces, it expands in the direction of least resistance. Driving force may be Risk/Reward ratio or one-sided market positions, HTF trend or whatever.
Theorem - 05 More Breakouts to the Upside are False than to the Downside.
It is a statistical fact so be cautious and always wait for confirmation. Refer Marcel Link's discussion on this.
Theorem - 06 SHORT SELLING is thrice faster in making MONEY than GOING LONG.
Just because of Gravity (Mass Mentality) working for it.
Check this out.
Uploaded with ImageShack.us
Kamlesh Uttam
Last edited:
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