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Welcome to NICC Organization Traders New International Commodities Club
NICC is a Traders Guide to Making Money Trading US-Based or International Commodities Markets
Traders Article of the Month from New International Commodities Club...
I can say as of today's date it's been my experience there is a common perception among traders there exists a linear progression among the 3 requirements to be successful in trading:
2. money management
3. sound trading plan
However, my own experience as a trader suggests the progression thru these areas are not linear but instead a circular spiral.
For traders who actively trade (or desire to trade actively and learn how to trade) the financial and futures markets, there are a lot of other things outside the markets you should be following. But, I guess my bigger message is for those of you that aren’t in the futures markets, whether you trade them or not, the futures markets have a significant impact on what happens in the other financial markets, including forex, currencies, options and stocks. That’s why you should soak up every piece of good trading knowledge like a sponge in a quest to clearly see the bigger picture.
Our trading careers will be circular, because we will continuously move around the circle seeking to improve these three elements, incorporating new ideas and improving with the experience only 'hands on' commodity trading can bring. In the words of T. S. Elliott, "We shall not cease from our exploration and the end of all our exploring will be to arrive at where we started and know the place for the first time." Click now for the Trading Tip-of-the-Day.
As novice traders, we need to begin by formulating a trading plan. Once a commodity trading plan has been developed to the best of our ability, then we move on to money management and lastly to the psychology of trading ... will come back to money-management and psychology, but meanwhile let's look more closely at the trading plan.
The role of the commodity trading plan is to provide a structure to work within an environment perceived as unstructured. This perception can give rise to the "fear of the unknown." The trading plan allows us to deal with this unknown. Also, once we have begun trading our plan, we need to have continued confidence in our ability to deal with the commodity market. Here we are dealing with the efficacy of the plan to produce profits and our state of mind as the plan interacts with the market.
Our commodity futures trading plan will need to have an edge. In my (trading) experience, the commodity plans that deliver an edge have the following common elements:
1. Trend Identification of moves of similar magnitudes. This includes tools to identify probable changes in trend. Once the trend is identified, we can determine the appropriate trading strategy (U.S. or international markets).
2. Low risk entry. This includes: identifying appropriate support and resistance areas; setups or warnings that alert the trader to a low risk opportunity; entry and initial stop placement techniques.
3. Trade Management. Once in the trade, we need to be able to manage the trade. Trade management includes trailing stop-loss orders and where to take profits.
4. Finally, the trading plan needs some tool to tell us when not to trade. For example, when there is an increase in volatility to the point that the our previous experience is of no assistance.
We can teach you how to trade the markets using Gann's best trading methods, including the powerful Geometric Angles Mr. Gann used so extensively, squaring of price & time, using valid gann style "square charts" and gann charting methods, support & resistance numbers and levels, "Gann numbers" and numerology. Our W. D. Gann Trading Course can teach you Gann's amazing methods for successful trading of commodity futures and stocks.
If you closely read and study our unique Gann Course it's quite likely you will learn how to use and implement important Gann trading methods in your trading within 72-hours. This Gann traders course was written by Dave of Webtrading who has studied and used Gann's methods for the past 30-plus years, including studying squaring-price-and-time. He is considered an expert on Gann and Gann's methodology.
Trading the financial markets using Gann methodology can work well when trading forex and other futures markets, including the stock market. W D Gann was much more involved in inter-day (position trading) vs intra-day (day trading) and mostly used daily bar-charts. With that said, Mr. Gann's trading techniques can be effectively used to day-trade too with the methods also being applicable to intra-day charts such as hourly charts. Daytrading was not as popular during Gann's time like it is now.
Here are some (but not all) of the key subjects covered in our highly recommended Gann Techniques Trading Course, which can effectively be used to trade stocks or futures markets using our course based on Gann's unique trading methods.