buy@1043 sl1040Buy@1037 sl1034
What is most important to earn?
Two things are most important
Technicals- to understand basic direction of chartDiscipline – time disciplineTarget disciplineWhenever a big up /down movement comes,it attract all the traders back.when traders come back to trade,it becomes rangebound again.Just notice last fridays free fall.Then very dull movement on sat,monday and tuesday morning.When 90% trader became hopeless,it just moved up 2000pts in 4 hrs.Beginners are hyperactive.they try to trade on every up & down.Mature trader choose 10 trades in a week.If chance goes,its ok,but capital should not go away.So calculate number of trade and stop losses u can afford.Suppose there is a positional buy call in nickel abv 1052 sl 1034(18pt=4500)tgt1100A small trader can’t afford it but he wants to.He should use rs.3-3 sl 3 times.buy@1052 sl 1049In this way it is possible to trade such call in just rs. 9 sl.
3. How were the global mkts last night.(see at yahoo.finance.com) 4. When mkt opens at 10am. First of all, see the direction of comdex index at right top of screen. 5. Create mkt watch before 10.6. Place 4 commodity on upper half of screen, and place odin chart in lower half.7. U can start test trade with micro silver at 10.01. It is possible to have 150pts in silver in first 3 min. But do it with strict sl.when u become confident for 7 days in silvermicro then do it with mini 5kg or 30kg.for this it is necessary to have key board & operator skill in ur hand.buy silver@ 51900 sl 51750 tgt 52100place all the order fast.after confidence & observation 3 big lots gives u 15000 in first 3 min. Never do it without strict stoploss.8. Ur reaction time is very important in trading. How many minutes do u take for decision & execution of trade?9. Don’t be imotional when stoploss hits. It is better to hit 5 sl of 150pts rather than 1sl of 1000pts.10. Be flexible in trading.suppose silver goes up in morning and down in afternoon & again up in evening,then flexible trader takes 200pts from each 500 pts in safe zone.11. Never try to chase any commodity till pick or bottom. Place prior order for profit booking. Book at bottoms and resell again at jump or if it breaks low. (always with sl) 12. Keep time discipline.trade from 10 to 11am. Check opportunity at 2 pm when data comes. Avoid trading between 6 to 8 without clear tip.last trading session from 8 to 9.30. Then enjoy with family. 13. Target discipline. Fix min 2% daily tgt on capital. Every trader is not supposed to trade on every call. U can have 6000 in 3 safe calls with small sl. 14. Target for max loss in a day should also be fix with profit tgt. 15. Trading every hour will not give u any profit.just learn to digest profit or loss. Take rest of 2 hours or 2days after small/big loss. Check this website to see annual charts of commodity- www.way2wealth.com Commodity section www.mcxindia.com See all products, details & fundamental(demand & supply) If u have problem with english,check this site www.economictimes.com/hindi Commodity section