4th august 2015 slv
TRANSCRIPT
Momentum Day Trade
Short Silver
4th August 2015
Longer Term Technical Analysis
• Price is below 200 day moving average
• Price is below 20 day moving average
• Silver is witnessing volatility contraction with 5day ATR < 20day ATR
Short Term Technical Analysis
Intra Day Fundamentals
• Silver has been under heavy selling pressure in recent weeks amid speculation the Federal Reserve will raise interest rates for the first time in nine years in the coming months.
• Sentiment was boosted after China's stock market rallied 3.7% on news that authorities have stepped up their crackdown on short-selling
Intra Day Technical Analysis
Trade Management
• I offered one contract at 33400
• I bid at 33457
• I offered one contract at 33518
• I bid at 33500
• I offered one contract at 33452
• I bid at 33470
Intuition
• No
Review
• Today I had a hit rate of 33% in Silver• On my second trade I would have offered the contract
few ticks higher and it would have resulted in greater profitability
• Only thing which I did great today during the trading day was honoring my risk limit per trades , in fact I saved majority% i.e.76% of daily risk limit
• News flow coming out today boosted the sentiments of markets and perhaps that is why I underperformed today
• Overall I followed my process to the letter and I didn’t get emotional and I am satisfied in that context.