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.