Calling stock and commodity market enthusiasts

[Armstrong]

LOL! So true, so true bro.

You know I used to tease my Grandpa by saying to him 'If Pukhtoons or Baluch were living in Kashmir tou Kashmir would've gained her freedom long...long...long ago' because they aren't as spineless as we Kashmiris are !

He used to get angry sometimes before saying to my Dad 'chup karvaa looo isss ko' !

 

[surya kiran]

Yes mate, long term. After marriage? Dude how do you get past the wife and in-laws? My own dad would kill me. . Telling me I shouldn't be playing with fire etc, you the know the typical South Asian telling off.

Actually, I told my wife I wanted to do this. And she thankfully knew what it entails and said, no worries. In-laws really did not care, since the wifey was ok with it. My dad was a broker, though is retired now. Trained under him for a year. But, yes couple of girls balked when they knew what I was doing.

 

[Hyde]

How do you typically trade? Fundamentals, technicals, news? You into futures then I assume?

I for example, trade purely on technicals. Planning on taking the certification examination and preparing for the same.

all of the mentioned... Yes mostly futures, spot, Swap...

 

[surya kiran]

Investing in markets is for newbies.

You want to make real money, get into alternative stuff- case in point- Bitcoin

You gotta love this shit.

Great so you invest in bitcoin. What do you use for trading? As in buying selling decisions?

 

[Armstrong]

@Aether @surya kiran @waz - How do you guys draw 'levels of support & resistance' ?

Is the joining together of closing prices or the shadows of a candle ?

I still can't seem to figure that one out because I've heard both; I myself usually draw resistance lines using the closing prices in a line chart instead of a candlestick chart !

 

[surya kiran]

all of the mentioned... Yes mostly futures, spot, Swap...

What do you recommend for fundamentals for crude, gold and silver? Have concentrated mainly on technical all this time. And what do you typically use for technical?

 

[waz]

You know I used to tease my Grandpa by saying to him 'If Pukhtoons or Baluch were living in Kashmir tou Kashmir would've gained her freedom long...long...long ago' because they aren't as spineless as we Kashmiris are !

He used to get angry sometimes before saying to my Dad 'chup karvaa looo isss ko' !

Dude did you forget us crazy guys from Azad Kashmir? They are nuts and fought everyone from the British to the SIkh empire to the Dogras and beyond.

 

[Hyde]

What do you recommend for fundamentals for crude, gold and silver? Have concentrated mainly on technical all this time. And what do you typically use for technical?

For gold and silver I don't follow indicators, mostly news and past experience. I am trading since 2008 and see highs n lows all the time. I can mostly predict about the Gold trend by reading daily news and knowledge combined. Indicators are mostly pointless when it comes to metals...

 

[waz]

Actually, I told my wife I wanted to do this. And she thankfully knew what it entails and said, no worries. In-laws really did not care, since the wifey was ok with it. My dad was a broker, though is retired now. Trained under him for a year. But, yes couple of girls balked when they knew what I was doing.

Well that's great that you have a mentor like your father. Does he always want to help out? I hope it goes well for you my friend. Have you made any "safe" investments?

 

[bababhosundi]

Great so you invest in bitcoin. What do you use for trading? As in buying selling decisions?

If you mean trading philosophy, I don't do technical trading, you just cant beat the automated systems that the big dogs have.

I am more into funadamental analysis and buy and hold, atleast through a cycle.

 

[Armstrong]

Dude did you forget us crazy guys from Azad Kashmir? They are nuts and fought everyone from the British to the SIkh empire to the Dogras and beyond.

I meant the Kashmiris from Occupied Kashmir !

 

[surya kiran]

@Aether @surya kiran @waz - How do you guys draw 'levels of support & resistance' ?

Is the joining together of closing prices or the shadows of a candle ?

I still can't seem to figure that one out because I've heard both; I myself usually draw resistance lines using the closing prices in a line chart instead of a candlestick chart !

It depends onwhat time frame you want and what your strategy is. What I have copy pasted above, is the chart for crude oil in MCX. Now this is not a daily chart, its an intra day chart. As you will see in the 4 lows, there is support coming in those levels. Also, if you see the last 3 lows, you could have predicted that, if it breached the previous 2 lows, there was a going to be a substantial drop. Which is what happened today. There are more ways, for this. This is the most basic via visual confirmation.

In these, the support is the low price.

 

[waz]

I meant the Kashmiris from Occupied Kashmir !

Oh

 

[surya kiran]

For gold and silver I don't follow indicators, mostly news and past experience. I am trading since 2008 and see highs n lows all the time. I can mostly predict about the Gold trend by reading daily news and knowledge combined. Indicators are mostly pointless when it comes to metals...

Brilliant, what is your outlook for gold? I mostly monitor crude oil and am not great, but decent in it. Am trying to work out a technical strategy system for the metals. Will share them here and lets see if it work? But, its most MCX, since my data is for the same.

Any books you recommend for reading based on your experience?

Well that's great that you have a mentor like your father. Does he always want to help out? I hope it goes well for you my friend. Have you made any "safe" investments?

Well, he trained me for a year and now, I go to him for inputs. Since, have started looking at equity data he has lots of inputs.

As for safe investments, its MF, Insurance and FDs.

If you mean trading philosophy, I don't do technical trading, you just cant beat the automated systems that the big dogs have.

I am more into funadamental analysis and buy and hold, atleast through a cycle.

What kind of analysis do you pursue for bitcoin? And which market are you in to?

 

[Hyde]

Brilliant, what is your outlook for gold? I mostly monitor crude oil and am not great, but decent in it. Am trying to work out a technical strategy system for the metals. Will share them here and lets see if it work? But, its most MCX, since my data is for the same.

Any books you recommend for reading based on your experience?

In my early days I was very active building up strategies and reading books and searching internet all the time. Now I just follow simple steps and the experience does the rest. The more experience you are likely to have, the safer trader you are going to be. Practice with demo accounts if you only started trading recently

Gold is bearish since last 18 months but likely to remain stable between 1150 to 1300 for the next few months. I don't see any reason for sudden rise in Gold however Gold is amongst the safest instruments available in market right now. It may continue to hit 1330 at times but will eventually retrace. So what I would say is, Gold does not require any indicators, it is all about news and certain support and resistance levels which changes the whole trend from time to time.

In my opinion 1150 is the lowest figure we are going to see for Gold and it will eventually come close to that once again. But if you are a long term trader or physical Gold buyer who would buy Gold for once an year and will go back to sleep for long time, it will eventually rise and settle somewhere above 1500.