Live Signal Live Trade on Nickel on 15.10.13

NickelM
Sell @ 866.50
Buy @ 860.00
Net Profit - Rs 650/-

Nickel
Sell @ 866.50
Buy @ 860.00
Net Profit - Rs 1625/-

Live Signal and Live Trade On 15.10.13 on NickelM

For Nickel M - Lot Size 100
Buy @ 864.50
Sell @ 866.50..Net Profit Rs 200/-

For Nickel  - Lot Size 250
Buy @ 864.50
Sell @ 866.50..Net Profit Rs 500/-

Beginner's Paper Trade on Live Trading Calls on 14.10.13 Part 2

1.LeadM Mcx Oct: Buy at present levels(CMP 128.45) And on dips to 128.20, TGT 130, SL 127 10/14/2013 : 12:13:39 PM

4. Copper mcx nov: Buy at present level (cmp 448) upto 448.20 Target 451 SL below 445 10/14/2013 : 12:19:49 PM

With corrected levels ((Copper mcx nov: Buy at present level (cmp 449) upto 448.20 Target 452 SL below 445.20)) 10/14/2013 : 12:21:01 PM

5.Alumini mcx Oct: Buy at present levels(CMP113.55) And on dips to 113.30, TGT 115, SL below 112.20 10/14/2013 : 1:02:08 PM

Beginner's Paper Trade on Live Trading Calls on 14.10.13. Part 1

1. Nickel Mcx OCt: Buy at present level cmp 852.5 And on dips upto 850 tgt 866 sl below 840 10/14/2013 : 12:07:57 PM

2. ZincM Mcx Oct: Buy at present levels(CMP 116.05 And on dips to 115.80, TGT 117.40, SL below 114.70 10/14/2013 : 12:06:52 PM

Buy Signal on Live Nickel Trade on 11.10.13

Psychological Pitfalls of Commodity Trading

Here are some additional psychological pitfalls to avoid. Be wary of depending on others for your success. Most of the people you are likely to trust are probably not effective traders. For instance: brokers, gurus, advisors, friends. There are exceptions, but not many. Depend on others only for clerical help or to support your own decision-making process.

You may acquire trading methods or systems from others or from books, but be sure to test them carefully yourself before trading. Good systems that you can buy come with computer software that allows comprehensive historical testing.

Don't blame others for your failures. This is an easy trap to fall into. No matter what happens, you put yourself into the situation. Therefore, you are responsible for the ultimate result. Until you accept responsibility for everything, you will not be able to change your incorrect behaviors.

Stay long-term oriented. Don't adjust your approach based solely on short-term performance. Through luck, any horrible system can look great, even for relatively long periods of time. Conversely, the best systems have frequent losing periods. If you judge a system by short-term performance, you are likely to reject the best systems that exist.

Most traders have such an ego investment in their trading that they cannot handle losses. Several losses in a row are devastating. This causes them to evaluate trading methods and systems based on very-short-term performance. Don't start trading a system based on only a few trades, and don't lose confidence in one after only a few losses. Evaluate performance based on many trades and multi-year results.

Don't underestimate the psychological difficulty of successful trading. The Elements of Successful Trading: "Trading is one of the most stressful endeavors imaginable. Taking losses day after day with a strategy that, just a short while ago was working well, can be a terrible experience. Trading performance can be consistently volatile with good and bad times highly magnified. The market can batter your psyche and gnaw at your soul. These bad experiences will never end as long as you trade. The more successful you are as a trader, the more money you will lose."

Keep trading in correct perspective and as part of a balanced life. Trading is emotionally intensive no matter whether you are doing well or going in the tank. It is easy to let the emotions of the moment lead you into strategic and tactical blunders.

Don't become too elated during successful periods. One of the biggest mistakes traders make is to increase their trading after an especially successful period. This is the worst thing you can do because good periods are invariably followed by awful periods. If you increase your trading just before the awful periods, you will lose money twice as fast as you made it.

Knowing how to increase trading in a growing account is perhaps the most difficult problem for successful traders. Be cautious in adding to your trading. The best times to add are after losses or equity drawdowns.

Don't become too depressed during drawdowns. Trading is a lot like golf. All golfers, regardless of their ability, have cycles of good play and poor play. When a golfer is playing well, he assumes he has found some secret in his swing and will never play poorly again. When he is hitting the ball sideways, he despairs that he will never come out of his slump.

Trading is much the same. When you are making money, you are thinking about how wonderful trading is and how to expand your trading to achieve immense wealth. When you are losing, you often think about giving up trading completely. With a little practice, you can control both emotional extremes. You'll probably never control them completely, but at least don't let elation and despair cause you to make unwarranted changes in your approach.

Other common themes of good traders are self-understanding, balance and self-control. If you can master yourself, you can master the futures markets.

Elements of a Successful Trading Plan--Manage Risk

The final cardinal principle of trading overlays all the rest. It is Manage Risk. This is as crucial as the others because it is by managing risk that you limit losses and preserve your capital.

The most important element of managing risk is keeping losses small, which is already part of your trading plan. Never give in to fear or hope when it comes to keeping losses small. Preventing large individual losses is one of the easiest things a trader can do to maximize his chance of long-term success.

The biggest risks to commodity traders come from surprise events that move the markets too quickly to exit at their pre-determined give-up point. While you can never eliminate these risks entirely, you can guard against them by advance planning. Pay attention to the risk of surprise events such as crop reports, freezes, floods, currency interventions and wars. Most of the time there is some manifestation of the potential. Don't overtrade in markets where these kinds of events are possible.

Trade in correct proportion to your capital. Have realistic expectations. Don't overtrade your account. One of the most pernicious roadblocks to success is greed. Commodity trading is attractive precisely because it is possible to make big money in a short period of time. Paradoxically, the more you try to fulfill that expectation, the less likely you are to achieve anything.

The pervasive hype that permeates the industry leads people to believe that they can achieve spectacular returns if only they try hard enough. However, risk is always commensurate with reward. The bigger the return you pursue, the bigger the risk you must take. Even assuming you are using a method that gives you a statistical edge, which almost nobody is, you must still suffer through agonizing equity drawdowns on your way to eventual success.

It is better to shoot for smaller returns to begin with until you get the hang of staying with your system through the tough periods that everyone encounters. Professional money managers are generally satisfied with consistent annual returns of twenty percent. If talented professionals should be satisfied with that, what should you be satisfied with? Surprisingly, disciplined individuals can do better. It is realistic for a good mechanical system diversified in the best markets to expect annual returns in the twenty-five to fifty percent range.

Although the commodity markets appear complex from the outside, making money trading is quite simple. You use an historically proven plan that trades with the trend, cuts losses short and lets profits run. You trade your system in a carefully-selected group of markets. You start with sufficient capital and pay close attention to managing risk.