Now hold 6 lots with an eye on my final target

bought one lot july contract 6355

Crude trading is an art like music ( veenai) and I love playing it.

Devan thantha veenai
Adhil devi seitha ghanam
Theydum kaigal theydinal
Adhil ragam inri pogumho !

Fibonacci

This is one of the more in-depth support and resistance methods out there, and there are a lot of different ways that traders look to integrate Fibonacci in their trading.

Taking a step back, Fibonacci is named after the 12th century mathematician, Leonardo of Pisa. In 1202 AD, Leonardo published a composition with the name of Liber Abaci that consisted of a numerical sequence that eventually became named after him. Leonardo of Pisa didn’t discover the sequence; he merely used it as an example in his composition.

The sequence is thought to have been originally used by Indian mathematicians as early as the 6thcentury

Wave 1: Basing move, price is moving higher even with bad news, seen as noise off the trend

Wave 2: Retraces most if not all (100%) of Wave 1. Many convinced the bear trend is back

Wave 3: Most Powerful wave and where you’ll learn to begin your count soon. Very strong.

Wave 4: Corrective Wave that will be different than Wave 2 and stall excitement of Wave 3.

Wave 5: Much less powerful than Wave 3, Technical Divergence is often seen here

Wave A: Key correction, will tip you on what type of correction to expect, can be 5 or 3 waves

Wave B: Known as the “Suckers rally”, fake return of prior trend which fails to Wave C

Wave C: The corrective sibling of Wave 3. Aggressive move down, often surpasses Wave A Low

The little book of safe money - three commandments

Thou shalt take no risk that thou needst not take.
Always ask yourself: Is this risk necessary? Are there
safer alternatives that can accomplish the same objective?
Have I studied the pros and cons of each before settling
on this choice as the single best way to achieve my goal?
Unless you ask, do not invest.


Thou shalt take no risk that is not most certain to
reward thee for taking it.
Always ask yourself: How do I know this risk will be
rewarded?

“ Most certain to reward thee ” does not mean that
there is zero chance that you will not be rewarded. It
does mean, and must mean, that you are highly likely to
be rewarded. What is the historical evidence, based on
the real experience of other investors, to suggest
that this approach will actually succeed? During the periods
in the past when it hasn ’ t worked — and every investment
in history has gone through such dry spells,
regardless of what the hypesters might tell you — how big
were the losses?
Unless you ask, do not invest.

Thou shalt put no money at risk that thou canst
not afford to lose.
Always ask yourself: Can I stand to lose 100 percent of
this money? Have I analyzed not merely how much I will gain
if I am right, but how much I can lose and how I will overcome
those losses if I turn out to be wrong? Will my other
assets and income be sufficient to sustain me if this investment
wipes me out? If I lose every penny I put into this idea, can I
recover from the damage?
Unless you ask, do not invest.

THE L I T T L E BOOK O F S A F E MONEY
Safe Bets
Never invest without thinking twice and consulting the Three
Commandments.
Answer the questions that accompany the Three Commandments
above whenever you invest; they will help you shape
an investment policy , telling you not only where to put your
money but why.
.

CRUDE NEXT MOVE

Earlier I have discussed the possible moves crude can make.
104.80 -107.64- comfortably made.
The move from here to next target will be a tough one,but after several calculations
the target seems to be 109 in Nymex and 6465 in MCX.
extension would be 110.20 in Nymex and 6534 in MCX.

More than 800 pts generated in 5 lots and will wait for my trend targets

Confidence strengthened in trend trading.and targets.

Expert traders always advise trade with the trend.
How to set up trend finder and targets is the big question?
Normally none of the real traders will disclose or educate ?
Why, they wont find time, they will move on to the next commodity.
I made a setup for crude and it seems to be working fine,
and I started paper trading in Gold.

Will hold all my 5 lots to my next target.