iCharts Discussions

[opportunist]

Guys checked now and found that my target of 28250 has been well exceeded. In fact it went to 28180 (profit of 253 points in one day, which means Rs.2530 on one lot of GoldM which requires around 14,200 margin - not bad for a day's work ). I am not going to predict the bottom but can only say that the trend is still bearish. So if anybody want to book profits do it but if someone wants to ride the trend (like me) may continue.

Regards,
Oppo

[Abhijadhav79]

Bang bang

[opportunist]

Guys

Commo is very sluggish today. Maybe taking rest after yesterday's huge moves. And silver/Gold maybe changing trend. But that is besides the point. We are trend followers not predictors.

So today we take good rest and enjoy the evening doing something else. If you are very restless read some good technical analysis stuff from the Net.

Regards,
Oppo

[amitagg]

[amitagg]

[opportunist]

Since you mentioned it, yeah, I do check once the international quote early morning only if I am in trade. That can sometimes help to track any major changes in the night. But really it cannot do much except for not being unpleasantly surprised in the morning with a trend reversal. Often in a trend the gap surprises in the morning tend to be pleasant ones only . If the surprise is nasty then probably we have not caught the trend in the first place.

But if I am not in the trade I dont check international prices as I trade only through MCX.

Regards,
Oppo

[opportunist]

Although crude has most likely reversed in the day charts I havent yet got my entry signal. Waiting for it.

Gold and Silver continues to relax and so no trading calls.

Crude today made a good move (and still making) on the 1 hr chart for which I did not have time to post here. Could have made 70-100 points in a matter of hours.

Regards,
Oppo

[amitagg]

Surmises and conjectures - " could have made...."

[opportunist]

That was not a conjecture/surmise. Main feku nahin hoon.

I actually did the trade and made a neat sum of exactly Rs.20,000/- in exactly 20 minutes 09 seconds (after brokerage it was Rs.19.68 K) . As proof I am attaching the contract note masking my name, PAN number and address for obvious reasons.

But I kind of lied saying that this "could have been taken" . Why I lied is because of two reasons:

a) I did not want people to feel as if I am boasting when the reality is that I did not have enough time to alert people here and take everybody along in the trade.
b) I do not really like newcomers to take such short trend trades as they are difficult to manage and very risky. Ultimately they too have entry and exit signals and stop loss. But needs good understanding of the momentum.

Regards,
Oppo

[opportunist]

Dear all,

Today's entry:

Scrip: Crudeoil Aug2017

Entry: Sell carryforward futures at 2900 (I entered at 2921.33. Sorry for the delay as I was tied up at office before I could write this mail and price fell meanwhile). One can enter till 2890. Please remember to enter in Normal/carryforward mode as this trade is likely to last a few days.

Stop Loss today - 2960

Target - No target ..... this is trend trading. So will continue as long as there is bearish signal.

Regards,
Oppo

[amitagg]

Excellent stuff... Well appreciated

[opportunist]

Guys

I will not be active on Monday due to some personal engagement. So to avoid nasty surprises over the next three days when internationally crude may make moves, I am closing the Crude oil August position.

You may continue keeping reasonable SLs of at least 30 points from the day opening.

Regards,
Oppo