Can anybody give me an opinion on my gold trade? | Metals Mine

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Can anybody give me an opinion on my gold trade?

  • #1
  • First Post: Sep 19, 2008 6:26am Sep 19, 2008 6:26am
Does anyone trade gold here, please give me an opinion, I think I cannot put the trigger
/Sorry about the English, I am not a negative.

http://img186.imageshack.us/img186/9...0809192rr6.gif
Back to the beginning ... demo
  • #2
  • Sep 19, 2008 12:51pm Sep 19, 2008 12:51pm
Long. As paper money becomes more and more worthless, the sheep will head to safer havens such as gold and silver. Some estimates have it going as high as $2,000 / oz. in the next year.
Life is too short to have anything but delusional notions about yourself.
  • #3
  • Sep 20, 2008 3:35am Sep 20, 2008 3:35am
$1032.60, the high of 2008 is a must. Huge bullish divergence on the weekly. Price bounced hard from the LTL of monthly/weekly uptrend channel on 09.7th. On the dayly price was channeling down and on 17th we had a huge breakout up, where it bounced from a few resistance levels. Price still inside a wider descending (downtrend) channel on the dayly, so $965 as first target is good. Break up and my initial target of $1032.60 is on the cards.

I will post screenshots if anyone interested.

Safe trading and many pips to you.

Cheers!
  • #4
  • Sep 20, 2008 1:45pm Sep 20, 2008 1:45pm
i got 1032 area from the 161.8 of the last swing also aside from it being the high
weird
more reasons for that target to be reached
  • #5
  • Sep 21, 2008 6:50am Sep 21, 2008 6:50am
Quoting boxingislife
i got 1032 area from the 161.8 of the last swing also aside from it being the high
weird
more reasons for that target to be reached
Maybe we are the choosen ones
  • #6
  • Sep 21, 2008 8:10am Sep 21, 2008 8:10am
Gold is very volatile. Gold price moves 5 USD up/down each day; but lately, we experience 50USD up/down. Each $1.00 in price movement is equivalent to $100 ($10 for a mini lot size). With that you can easily see how it will affect your SL-TP ratio.

People claim to simply go Long Gold because any country will want it regardless. however, if this is so, how come gold price kept retreating? There was once a correlation between Gold and Oil. way back about 50 years ago, Gold is about 100 x Oil price. Now, its just 10 even less. So you should go Long Oil instead. I'd go Long Oil once it hits $80.
  • #7
  • Sep 21, 2008 9:34am Sep 21, 2008 9:34am
Quoting BurgerKing
Gold is very volatile. Gold price moves 5 USD up/down each day; but lately, we experience 50USD up/down. Each $1.00 in price movement is equivalent to $100 ($10 for a mini lot size). With that you can easily see how it will affect your SL-TP ratio.

People claim to simply go Long Gold because any country will want it regardless. however, if this is so, how come gold price kept retreating? There was once a correlation between Gold and Oil. way back about 50 years ago, Gold is about 100 x Oil price. Now, its just 10 even less. So you should go Long Oil instead. I'd go Long Oil once it hits $80.
Big volatility doesnt matter if you know what you are doing. The market is precise and everything is tradable with minimal SL.
  • #8
  • Sep 21, 2008 10:09am Sep 21, 2008 10:09am
I'm long on both gold and silver, though I don't trade it over the net.
Whenever it hits a nice deep dip, I go down to a local dealer and buy some physical.

I'm thinking they will be bullish for a good while longer.
  • #9
  • Sep 21, 2008 10:10am Sep 21, 2008 10:10am
Quoting belekas
Big volatility doesnt matter if you know what you are doing. The market is precise and everything is tradable with minimal SL.
And ummmm.... You are Long Gold at what price? At $900 expecting it to hit $965 then $1032?

No thanks...
  • #10
  • Sep 21, 2008 10:18am Sep 21, 2008 10:18am
Quoting BurgerKing
And ummmm.... You are Long Gold at what price? At $900 expecting it to hit $965 then $1032?

No thanks...
Im not long neither short because i dont trade Gold atm. My long would had been from around $740 area if you want to know.

Cheers
  • #11
  • Sep 21, 2008 1:59pm Sep 21, 2008 1:59pm
Quoting belekas
Im not long neither short because i dont trade Gold atm. My long would had been from around $740 area if you want to know.

Cheers
...and mine would have been long from 736.20 with TP 920.30....but I don't trade gold either.
  • #12
  • Edited 2:40pm Sep 21, 2008 2:29pm | Edited 2:40pm
Quoting good
...and mine would have been long from 736.20 with TP 920.30....but I don't trade gold either.
Keep it simple.

Safe trading and many pips.

Cheers!
  • #13
  • Sep 25, 2008 9:35pm Sep 25, 2008 9:35pm
Quoting Stielle
I'm long on both gold and silver, though I don't trade it over the net.
Whenever it hits a nice deep dip, I go down to a local dealer and buy some physical.

I'm thinking they will be bullish for a good while longer.
Without a doubt, this is the smartest way to go at times. This is more for the long term guys.

Man, my stepfather was talking about years back when he almost bought several ounces for like $300. He is kicking himself now.
  • #14
  • Sep 26, 2008 5:03am Sep 26, 2008 5:03am
Quoting clockwork71
Without a doubt, this is the smartest way to go at times. This is more for the long term guys.

Man, my stepfather was talking about years back when he almost bought several ounces for like $300. He is kicking himself now.

$300 a pop, as borat would say: very nice
  • #15
  • Oct 21, 2008 4:44am Oct 21, 2008 4:44am
Quoting goldtrader
Does anyone trade gold here, please give me an opinion, I think I cannot put the trigger
You could buy the precious metal itself... could buy an ETF, like or you could trade risky gold futures. "commodity options” is a lesser known option where your risk is always known and strictly limited.
  • #16
  • Oct 22, 2008 5:00pm Oct 22, 2008 5:00pm
I trade Gold, and have collected Maple Leaf bullion coins since 1976, last time in 2001. My view is to be patient and wait, gold is correcting a 10 year bull run, the .382 is at $600 with a confluence of other levels, and pressure from a stronger USD and falling Oil/Commodities. Gold has fallen $200 in the past week, as an illustration of the trend.

Be patient while deflation levels all assets; back to normal values, then prepare for inflation protection a year or two from now. (look for copper to bottom and rise first, followed by silver after it completes a large 3 wave correction.)

If you are speculating, Gold is not easy to trade, I suggest Oil and Gas have more opportunity if they reach $50 and $5 ranges. Try a 1:2 leverage ETF like GLD or HGU so you will not get shaken out like the hedge funds. Read today's Bloomberg article for a fair evaluation, to make sure you are in it for the right reasons.
http://www.bloomberg.com/apps/news?p...PEE&refer=home

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  • #17
  • Last Post: Oct 24, 2008 11:49am Oct 24, 2008 11:49am
Nice range today in spot, 6655 pips, anybody game?
Polishing my crystal ball
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