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Gold Discussion

  • #661
  • Oct 7, 2009 4:23am Oct 7, 2009 4:23am
ain't it a bitch ... it doesn't want to retrace, one mighty trend ...
  • #662
  • Oct 7, 2009 4:32am Oct 7, 2009 4:32am
thats why you never trade against the trend and try and pick tops. Im sure it will retrace eventually, by that stage your stop will get hit or if u dont have stops, you will be getting a margin call lol.
  • #663
  • Oct 7, 2009 4:39am Oct 7, 2009 4:39am
Gold continues to rally, hitting a spot record high of $1,043.80, probably less as a hedge against inflation and more as a store of a wealth and protection from the weakening dollar. Gold probably will have trouble breaking $1,050, but once it does, we should see it going to $1,100.
  • #664
  • Oct 7, 2009 4:58am Oct 7, 2009 4:58am
... good moods in USA. sp500 is growing so the gold is growing + oil rumors
bad macro data and we'll see the retracement.
i hope it gonna be today.
if not - margin call
  • #665
  • Oct 7, 2009 5:06am Oct 7, 2009 5:06am
Quoting supermatt
thats why you never trade against the trend and try and pick tops. Im sure it will retrace eventually, by that stage your stop will get hit or if u dont have stops, you will be getting a margin call lol.
I've been trading gold for 3 years now and never had a trade closed with a loss I don't thing that this one will be the exception.
  • #666
  • Oct 7, 2009 5:09am Oct 7, 2009 5:09am
Someone please get a big punch on gold's ass NOW to downhell
and be cursed gold
ROBOT FOREX
  • #667
  • Oct 7, 2009 3:05pm Oct 7, 2009 3:05pm
Quoting Pirin
I've been trading gold for 3 years now and never had a trade closed with a loss I don't thing that this one will be the exception.
perhaps not, but your gamer than me. all the best
doji would have to be a promising sign for all you bears. but then again it can also mean continuation
  • #668
  • Oct 7, 2009 7:09pm Oct 7, 2009 7:09pm
Interesting article at:

http://www.marketwatch.com/story/gol...ops-2009-10-07
  • #669
  • Edited Oct 8, 2009 12:24am Oct 7, 2009 11:30pm | Edited Oct 8, 2009 12:24am
rsi over 90% ?! a first
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  • #670
  • Oct 8, 2009 4:03am Oct 8, 2009 4:03am
Jim Rodgers says gold may go to $2,000 an ounce in the next decade. Assuming it will take 10 year for this to happen and using $1,000 as the current base price – that would generate a compound return of about 7% annually. Bill Gross is estimating that stocks will generate 5% over the long run. An allocation to gold is a good investment at this time.
  • #671
  • Oct 8, 2009 5:34am Oct 8, 2009 5:34am
Some interesting charts:

http://static.seekingalpha.com/uploa...y_20091007.png

http://static.seekingalpha.com/uploa...y_20091007.png

Can read the full article here:
http://seekingalpha.com/article/1653...-all-time-high
  • #672
  • Oct 8, 2009 1:22pm Oct 8, 2009 1:22pm
fuck your gold in all holes and those too who buy it now
gold only hunts for good people' stop losses and then take out them all
ROBOT FOREX
  • #673
  • Oct 8, 2009 2:09pm Oct 8, 2009 2:09pm
Quoting Forbes55
fuck your gold in all holes and those too who buy it now
gold only hunts for good people' stop losses and then take out them all
wtf?!
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #674
  • Oct 8, 2009 5:15pm Oct 8, 2009 5:15pm
Quoting Forbes55
fuck your gold in all holes and those too who buy it now
gold only hunts for good people' stop losses and then take out them all
man..
i lost "few" grand today but.. its a great opportunity to learn that selling gold nowadays is a madness!
so lets wait for a retracement and then - buy not sell
  • #675
  • Oct 9, 2009 1:24am Oct 9, 2009 1:24am
It won't fall until next week but tonight, after the US open, we may see a new high before the market close. $1,020 should provide a strong support in the long term.
  • #676
  • Oct 9, 2009 3:19am Oct 9, 2009 3:19am
Quoting Forbes55
fuck your gold in all holes and those too who buy it now
gold only hunts for good people' stop losses and then take out them all
sure, it has nothing to do with that you sold into a freaking long term breakout, the only timeframe i see a downtrend is m30 and below
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Invincibility lies in the defence, the possibility of victory in the attack
  • #677
  • Oct 9, 2009 3:42am Oct 9, 2009 3:42am
Quoting silverheat
sure, it has nothing to do with that you sold into a freaking long term breakout, the only timeframe i see a downtrend is m30 and below
love that chart

but seriously, gold can be traded to the downside when you want to catch the retracement .... and retracements are usually safer even than following the trend.
  • #678
  • Oct 9, 2009 8:37am Oct 9, 2009 8:37am
Scared to death of these levels - maybe its time to sit out and wait for a downside break. And a big thank you to Trichet for helping to pummel my beloved dollar even more!

The Dollar reached a 14 month low against all majors after continuous signs of global recovery increase investors' appetite for risk. Adding to that was the U.S. Initial Jobless Claims that decreased to 10-Month Low of 521,000 and pushed the investors to higher yielding assets. NASDAQ and Dow Jones rose by 0.64% and 0.63% respectively. Crude oil jumped by 3%, closing at 71.69$ a barrel on the back of the Dollar's weakness and despite an increase in oil and gas inventories. Gold (XAU) reached to a new record high of 1060$ but closed lower at 1055$ an ounce. Today, Trade Balance is expected to slightly decrease from -32.0B to -32.8B.
  • #679
  • Oct 9, 2009 5:59pm Oct 9, 2009 5:59pm
Quoting Pirin

but seriously, gold can be traded to the downside when you want to catch the retracement .... and retracements are usually safer even than following the trend.
Why are retracements safer than following the trend?
  • #680
  • Oct 9, 2009 8:40pm Oct 9, 2009 8:40pm
Quoting Pirin
love that chart

but seriously, gold can be traded to the downside when you want to catch the retracement .... and retracements are usually safer even than following the trend.
Hi Pirin
I am new gold trader in viet nam country, I just around 2 months, and alway lost because SL, please teach me basic knowlegdes for gold trading.
Thanks a lot
Quy Bao
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