- #1,002
- Edited 1:20pm Sep 26, 2011 1:08pm | Edited 1:20pm
wow man.. you must be rich to have so many "longs" in so many "accounts" and trading so many "currencies".. thats incredible.. Its an honour to talk to a rich trader like you. You have everything under control.
How much money you have in your forex accounts? MINIMUM 1 million I guess?
Man, how come you dont have 10+ vouchers?
BTW, what do you think about indicators? Do they work or they are useless and lag? Really wondering.
But to get you going, I would just say in order to make a living in this business and survive events like this, you need LOTS of money. Otherwise, you might easily erase all your gains over a few sell offs. Ask people who were happy trading gold and silver in the past few weeks.
I read charts and follow the fundamentals but here are the key elements:
- large capital
- patience
- ability to filter noise (media, public, etc)
- tolerance to floating losses AND profits even if it takes a few months
Check around and you will find these features in most successful traders
P.S. Indicators are only useful if things go as expected. For times like this, they are useless. Again, I know you follow the other gold thread, how many of the chartists over there did warn people about this crash? At the same time, how many more experienced traders warned against this too fast too much rise and were banned or laughed at? did you believe yourself we could see 1530 after we saw 1930? seriously?
There should be a lesson for all of us in this
- #1,003
- Edited 1:56pm Sep 26, 2011 1:45pm | Edited 1:56pm
I see lots of people begin to feel frustrated why did not go long at lower bargain levels (probably because charts or media told them NO, NO! dont buy gold! it will be 5 bucks an once in a week!) but I feel we have found the bottom and though we will probably see a few more spikes lower in coming days to flush the smaller accounts and weak longs and scare more people to go away from gold for a while, overall, I would fasten my seatbelt for 1800-1850.
P.S. haha the more I see most people say the gold is going to keep crashing, the more I feel we have seen the bottom. No doubt some of them are piling up at lower prices
What is amazing is that it is the totally opposite behaviour when we were at $1900: pretty much most of them said 2000 by 2012, Dec 2011, end of Sep 2011, tomorrow, etc
P.S. haha the more I see most people say the gold is going to keep crashing, the more I feel we have seen the bottom. No doubt some of them are piling up at lower prices
What is amazing is that it is the totally opposite behaviour when we were at $1900: pretty much most of them said 2000 by 2012, Dec 2011, end of Sep 2011, tomorrow, etc
- #1,004
- Sep 26, 2011 2:19pm Sep 26, 2011 2:19pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Don't quite think you understood MapleLeaf's meaning, especially the use of quote marks.
He was laughing at me and others when we said the price might crash when gold was around 1900. Now he (and many others) are trying to making fun of people who are buying gold 400 USD cheaper because they have the capital AND do not have longs from around 1900 like most people on FF.
We all feel that we have seen the bottom already after this crash and I can understand the anger of some people now: they bought at 1900 but cannot or are too scared to buy it now while I and many are loading up. Well, you cant have everything
Do a search and dig all of my previous posts. You may do the same after gold jumps back to 1850. FWIW I have been with you on an imminent gold crash when it was around 1850 but now we seem to be divided: you believe we are heading towards 1500, 1400, 1000 (!) and I am loading up for 1800-1850 in addition to my longer term buys. We shall see I guess
- #1,008
- Sep 26, 2011 2:54pm Sep 26, 2011 2:54pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #1,009
- Sep 26, 2011 4:15pm Sep 26, 2011 4:15pm
Again, I know you follow the other gold thread, how many of the chartists over there did warn people about this crash? At the same time, how many more experienced traders warned against this too fast too much rise and were banned or laughed at? did you believe yourself we could see 1530 after we saw 1930? seriously?
There should be a lesson for all of us in this
yes, you are right about that, man.. nobody can warn us about those massive movements of 400 dollars in a few days... trully massive.
But I still believe gold trend is bullish long term..
The Black Swan: The Impact of the Highly Improbable
- #1,011
- Edited 7:54pm Sep 26, 2011 7:43pm | Edited 7:54pm
No we don't all think we have seen the bottom.
You can't have it both ways. I thought you said there are too many thinking we are going to $500 or some ridiculus amount like that.
I think, I might be wrong though, that we have a seen a bottom. Not the bottom.
Soon enough we'll see what happens if it gets to 1700.
Or if and when the S&P 500 hits 1200.
it looks like fundies and such want to keep the yearly gain of gold at around 25-30%... with the 1900 mark we were way above that, but right now we are below it.. so, it may go up to keep at that level.
I agree with the theory you stated in one of your previous posts, talking about the percentage of the yearly gains in gold, that it must stay in a reasonable level, not too high and not too low.
And you see these are the thing no chart will be able to explain. Now which chart did say 1530 was the bottom? None.
Common sense among other things I stated above are the key. Now the gold will resume its slow uptrend, let's see how monay gold bears will disappear... I bet they are busy adding to their longs too. They just don't mention it
Nobody wants to miss this train up again specially now that we have seen 1900 - #1,017
- Sep 27, 2011 5:05am Sep 27, 2011 5:05am
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
Cool.
And you see these are the thing no chart will be able to explain. Now which chart did say 1530 was the bottom? None.
Common sense among other things I stated above are the key. Now the gold will resume its slow uptrend, let's see how monay gold bears will disappear... I bet they are busy adding to their longs too. They just don't mention it
time will tell.
- #1,019
- Sep 27, 2011 4:00pm Sep 27, 2011 4:00pm
- Joined Jun 2010 | Status: zero | 20,603 Posts
Cool.
And you see these are the thing no chart will be able to explain. Now which chart did say 1530 was the bottom? None.
Common sense among other things I stated above are the key. Now the gold will resume its slow uptrend, let's see how monay gold bears will disappear... I bet they are busy adding to their longs too. They just don't mention it
Hint: look at the right side of your chart :-)
Can you see the speed bump there? I can see it.
Can you see the next speed bump on the upper side?