Trading FxCommodities With Me

ashu1234

Well-Known Member
#1
Starting this thread to trade FX-commodities, I mean trading commodities but on Fx platform. Now that I've used the word fx, please don't go in length of discussing the legality matter, its been already done in different threads, if you are not convinced on Fx then be my guest.

So to start with, we will be trading some major Fx-commodities like gold, silver and some forex majors here. As its 24x5 market nobody can trade all the time. So I've come up with two options.

A: To Trade for Me - If you have time and basic TA and good money management and are willing to learn then you can work on live accounts given by me. (I'm really looking forward to meeting traders with good money management)

B: To Trade with Me - You can have your own account which you can operate on your own and collaborate with me for all other inputs for mutual benefits.

Note: I'm not some forex broker. We'll be trading with Reputed ECN brokers or ECN brokers with dealing desk in case of micro/mini account. I am looking forward to collaborate and work with good traders. I track market all the time and due to time constraints I can't trade, so going through collaborating with people of similar interest seems a viable option. I won't mind mentoring in the initial stage but will only do if you are seriously interested in trading as I'm not be discussing things for academic purpose.

PM me if you're interested.
 

ashu1234

Well-Known Member
#2
So how commodities are traded on Fx and why I'm giving preference to Fx over MCX.

Taking example of Gold which in Forex is denoted by XAUUSD.

To trade a gold mini on MCX margin required is Rs. 10000 and above. At forex with a minimum leverage of 200 times same lot cost you around 69$ or Rs 3900 and a micro lot can be traded with just 6.9$ , under 400 Rs (Just imagine what leverage can do for you) . Leverage can be extended to 1000-2000 times depending on brokers.

How much you earn on 1$ movement in international price:- In gold mini lot 1$ movement gives you 10$ returns, but I personally feel initially micro lots should be traded where 1$ movement gives you 1$ return.

Now coming to daily range of Gold, Its minimum atr of 14 days stands at 15$ and usually tops at 30$, It implies that at any given day you can expect at least 20$ movement. Below I'm attaching the chart to trace the daily range of Gold. So to trade gold earning 3-4$ a day is not big task in the 24 hours market time frame.

Now where the problem kicks in while trading Fx, if its so easy to trade why not everybody making money. Answer is simple, we are not used to the system which every international trader is following now. We are not used to the spread trading, which is the commission broker gets by increasing the tick price shown at your screen. We are not used to this much leverage, max to max people here have so far used 100 times leverage. People lack money management and because of that in spite of so many opportunities at FX losses are very quick and frequent.

 

trump

Well-Known Member
#3
The last bar is a big bear candle, considering its placement, it may be a break out failure or may be a break out pull back, wait for more confirmation.The breakout from the 1400 resistance is showing resistance, but most likely it would end up as a pull back, else we may see new lows.Too many overlapping bars and indecision makes me to wait.
Pardon me for not posting relevant content for the thread, but seeing the chart I couldn't resist.
 

ashu1234

Well-Known Member
#4
The last bar is a big bear candle, considering its placement, it may be a break out failure or may be a break out pull back, wait for more confirmation.The breakout from the 1400 resistance is showing resistance, but most likely it would end up as a pull back, else we may see new lows.Too many overlapping bars and indecision makes me to wait.
Pardon me for not posting relevant content for the thread, but seeing the chart I couldn't resist.
Yes Fridays candle was breakout failure, 1420$ was the widely watched area by everyone. Going ahead for the next week when biege book and further NFP data will clear the direction. Upside as per me for next week will be restricted maximum to 1410-1411$ and yes below 1380 previous lows can again be retouched. Don't know what mcx gold will be doing as Currency is making record lows against dollar and further Nifty correction has weakened the currency further.
 

EagleOne

Well-Known Member
#5
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EagleOne

Well-Known Member
#6
Yes Fridays candle was breakout failure, 1420$ was the widely watched area by everyone. Going ahead for the next week when biege book and further NFP data will clear the direction. Upside as per me for next week will be restricted maximum to 1410-1411$ and yes below 1380 previous lows can again be retouched. Don't know what mcx gold will be doing as Currency is making record lows against dollar and further Nifty correction has weakened the currency further.
You are right, ashu, mcx and international gold movement does go out of sync - especially on lower TFs. The other day, there were clearly a couple of down wrbs on I think 15 min chart, but on MCX the effect hardly got registered. Perhaps, we are big gold lovers, that's why! :D
 

ashu1234

Well-Known Member
#7
Attaching here a simple screen shot of mt4 terminal and my one hour small scalping session on 100$ live account. Simple small trades can be done in micro lots in both the direction with ease of click. With proper money management opportunities are great.
 

ashu1234

Well-Known Member
#8
Another scalping session with pair euro/usd and xau/usd. Note earlier account was in dollar terms, i.e profits denoted in USD, this live account is in rupee terms i.e profits denoted in Rs. In these trades hedged positions in euro/usd pair was taken and exited systematically. All trades are closed.


Intention of posting live trade is not to show off, but to display earning potential by using leverage. I guess 2-3 hours session are more than enough to successfully scalp minimum 10% roi. (but yes maintaining this feat consistently is another thing :D), with patience and experience its possible. As I traded gold on mcx for atleast 10$ and here I can easily exit in 2-3$ making my 10% roi.
 

ashu1234

Well-Known Member
#9
International gold coiling in this pattern, coming thursday and friday may decide the end of this hourly consolidation. Currently shorted international gold without any fear of Import duty and other kind of hikes by our beloved government.



Gold shorts running..l....
 
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ashu1234

Well-Known Member
#10
Gold gave a break out from the consolidation before ECB, a bit early I think. Have covered yesterdays shorts
and will wait for further confirmation below 1384$.
 
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