iCharts Discussions

[opportunist]

That is why one needs to trade less and trade slower timeframes.

Trade Less. Trade slower timeframes, preferrably one day charts.

[amitagg]

Yes agreed

So what's the view on

- metals
- energy
- Agri major ones
- bullion

Generally because with a day's timeframe it is possible to have a slightly longer view as well which may ( or may not) change by infra gyrations

Would simple price action do!!!

Does the Tunnel end by absorbing all knowledge and then just fine tuning a simple set up ( albeit with some edge possibly) and not all fancy stuff

Would not then the "instrument universe" becomes larger and larger and inter market analysis comes in and seeks specific refinements to same strategy

Having a scaling up position or business is another matter ( or a matter of course) ... Time is short for all!

[opportunist]

Natural Gas is volatile. Just not the compound but the price. Especially on Thursday evenings avoid it like the plague. It can ruin you in minutes. On the day chart it has one of the worst trends.

Copper, Nickel and Zinc have fairly okay trends on day charts but not that good on hourly charts. But they are not as volatile as NG.

Silver and Gold, well they are Silver and Gold ! Smoother trends

Lastly Crude Oil sometimes is very smooth and sometimes erratic.

I generally focus on Silver, Gold and Crude.

Ah..rest of the mail ..."instrument universe" and intermarket analysis could not understand much, or let's say, choose not to break my sweat over it. That's the deal. Trade only when it seems obvious enough and compelling enough. That vision of course takes years to develop with some solid understanding on whether to use the 8/34 crossover or the Ichimoku clouds to make a judgement call on the trend direction.

Lastly scaling up is the heart of this thread and sadly I am yet to get even a ball park answer like the "100 lot" level Alchemist pointed out about Nifty.

Regards,

Oppo

[amitagg]

8/34 crossover would work well on copper for the most

Nickel would have 70-80 point rise or fall Ken way and then reverse ( or breakout) ... So play contra at after this 70-80 point level

Crude also respecting 200EMA on 30th besides the 64th ST trades

Silver and gold trade pivots mid way

Crude best on pivot play

One can use Gaan also for trend direction ( or better said for exhaustion of trend or start there of)

One question - (just for curiosity not to apply in my trading)

Ichimoku which specific filter used and which time frame or multiple time frame analysis

Thanks

[opportunist]

I strictly trade the trend. For understanding the trend I use many standard tools including Ichimoku, though I dont entirely rely on one indicator. Once I am convinced of the trend then I enter using Trailing SL.

To most Ichimoku is seen as very complicated and confusing. Once you understand ichimoku then you can use in any time frame. However, it is a general wisdom that to make money one must use slower time frames. At least 1 hr frame or above. I do it 1 day nowadays. Helps keep blood pressure in check.

Trading with pivots is a narrow way of looking at things. Trading demand and supply zones is a better approach.

[pkholla]

[opportunist]

Holla saab,

I plan to start a trade guidance service on icharts soon just like so many of us. It would be a trend following strategy. But not intraday. It will basically be my ongoing trades.

Regards,
Oppo

[pkholla]

[AmitSwl_FnO]

Yes oppo after a while saturation sucks in....that is business in general.

In order to answer your question which is even more important in commo. market...how many lots one can trade before slippage becomes a pain

this shall depend on the "minimum time period" which takes for you to execute a limit order (although you may be using market order in trend trading since the prices may not retrace after a breakout.)

You need to start from 30sec charts up-to 3min charts to find the minimum time period of execution historically for 10-20days where the prices retrace to limit order ...for example let us assume you need to sell an instrument at 948.15....ticker breaks-out and the price slips to 947.90..from this time you need to see the minimum time in which the price retraces back..You
would get an average idea.(although a market order may be used in actual trade)... The volume on this time frame of the chart will serve you as a guide ...For Nifty futures around 500 contracts exchange hands in 1 min...thus i can easily trade 150 nifty within next 1min or so after ticker breaks out...I have to live with the ticker slippage on this time frame...no escape...that is why it is best to trade high liquid- high volume instruments.

[opportunist]

Hi Amit,

You have correctly understood my question. I just checked with the Crude chart for 1 min. The min volume in a minute is around 50 lots. For Silver (30kgs) it is around 5 lots. Which means chance of slippage in Silver is much higher and any trade over 5 lots can meet slippage issues.

The best way to approach this problem is to give a SL-M order wherein slippage is avoided as it becomes a market order after SL trigger is set off. So even if all the lots dont get filled in upon reaching SL they would in few points down the line.

Regards,
Oppo

[AmitSwl_FnO]

the minimum time i referred will depend on your holding period , size of account...for example slippage is tolerable if you have high risk reward ratio.
YOu have to check atleast 10-20days or data for 10-20 trades as suitable.