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  • #12,181
  • Oct 19, 2011 12:53am Oct 19, 2011 12:53am
Quoting greedywolf
Hi,

I need decent advice on my investment plan

I'm already -1K$ and yesterday my account wiped completely
I'm only 3 month old in this trading and after analysing my 3 months, I find the main reason behind my loss is greediness.

now i'm planning to top op my account with 500$ and buy 0.02 lot, sell stop @1580-1600 of Gold and keep it for 1,2 months.
since I can't give enough time for leanings and tracking movement daily

please advice
it is not greediness, it is that this is more difficult than it looks

people tend to see backwards and say "i should have sold here, i should have purchased here" but they dont realize seen it backwards is EASY

i would tell you to stay away , consider 1k a lesson purchased

95% of the people lose money here

i have been investing for some time and im positive, but little gain
not worth the stress to be honest
  • #12,182
  • Oct 19, 2011 1:16am Oct 19, 2011 1:16am
Quoting GoldenDude
it is not greediness, it is that this is more difficult than it looks

people tend to see backwards and say "i should have sold here, i should have purchased here" but they dont realize seen it backwards is EASY

i would tell you to stay away , consider 1k a lesson purchased

95% of the people lose money here

i have been investing for some time and im positive, but little gain
not worth the stress to be honest
Hi GoldenDude,

Thanks for your precious time.
But I did properly analysis of my trading activity of last 3 months and only thing I see is greediness and over-trading. It happened lot of times that I moved my TP for more profit and ultimately I got loss in that order.
after every successful big profit I took another order which is resulted in loss.

you can imagine with less then 100$ equity I was taking order of lot size 0.05 and that too without SL.
so this time i have decided that no greediness and no over-trading.
less order with more learning and lesser lot size with hell lot of patience.

I would like to give one last try
  • #12,183
  • Oct 19, 2011 1:42am Oct 19, 2011 1:42am
Yesterday was a clear reminder that we as a traders, must keep an open mind for short opportunities also. Trade safe.
  • #12,184
  • Oct 19, 2011 1:58am Oct 19, 2011 1:58am
Quoting Chika Kure
Yesterday was a clear reminder that we as a traders, must keep an open mind for short opportunities also. Trade safe.
You're kidding, sell on super strong support?

that was not good idea as you see now

still waiting for bulls steps in london sesion
  • #12,185
  • Oct 19, 2011 2:22am Oct 19, 2011 2:22am
Quoting Doncex
You're kidding, sell on super strong support?

that was not good idea as you see now

still waiting for bulls steps in london sesion
i had physical and multiple longs open which i closed when it dropped to 1535 (luckily i closed at ~1780)

after that i have been waiting, i sense a drop due to possible recessions and greek default

then i will buy big time
  • #12,186
  • Oct 19, 2011 2:36am Oct 19, 2011 2:36am
Quoting Doncex
You're kidding, sell on super strong support?

that was not good idea as you see now

still waiting for bulls steps in london sesion

Yesterday was a 470 pips drop FIRST.
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  • #12,187
  • Oct 19, 2011 2:51am Oct 19, 2011 2:51am
Hi,

What should be Forex leverage currently its 1:600
  • #12,188
  • Oct 19, 2011 3:05am Oct 19, 2011 3:05am
Quote
Originally Posted by Exsilium
With all due respect to RR and his thread, you have to be careful blindly following the trade advice/signals of others. I follow his thread to confirm my own ideas, but sometimes I ignore his ideas altogether based on my own rules.

I strongly suggest that you read the first couple of pages in this thread, get the indicators, apply them and learn what he is trying to teach us.
Quote
Originally Posted by ruffryders
Now you can enjoy your ideas on your own my friend, tired of your BS posts. Thanks!
===============

You dont accept PM's, so I will post my apology here as I know you frequent this thread also.

--

I apologize. I meant no disrespect and thought I was offering a new trader sound advice. I respect you as a trader, it is unfortunate you took my post the wrong way. Again, I apologize.

It is your thread and I respect that and your choice to ban me from posting. I hesitated to post at all, but well... there it is.

I will say this, thank you for your advice and sharing your strategy.

Ex.
  • #12,189
  • Oct 19, 2011 3:05am Oct 19, 2011 3:05am
Quoting Chika Kure
Yesterday was a 470 pips drop FIRST.
so why are thinking that past events will be today?

whats is the reason for bears? now?

are you use some system,i think not

I see you use stochastic indicator only,it will kill you in the future.

I dont trust any indicator,the main "indicator" is price action,waves,and support resistance levels

indicators as a stochasting,ma,rsi,macd, and others is for those who want to lose their money

just my two cent opinion
  • #12,190
  • Oct 19, 2011 3:56am Oct 19, 2011 3:56am
Quoting greedywolf
Hi,

I need decent advice on my investment plan

I'm already -1K$ and yesterday my account wiped completely
I'm only 3 month old in this trading and after analysing my 3 months, I find the main reason behind my loss is greediness.

now i'm planning to top op my account with 500$ and buy 0.02 lot, sell stop @1580-1600 of Gold and keep it for 1,2 months.
since I can't give enough time for leanings and tracking movement daily

please advice
The most important is not to overtrade & to wait for a clear situation when you could make a good bet with a good target & defined risk.

I repeat: It is the MOST IMPORTANT.

If you're beginner think what is your goals & motivations.
You will not be able to wait if you dont have a goal.

If you don't have a sufficient motivation to reach your goals, dont
torture yourself, and just play a little for a fun & train to accept losses.

Anyway it is your only personal way
  • #12,191
  • Oct 19, 2011 3:57am Oct 19, 2011 3:57am
Where you guys see support?
I am confused about price move
before 07/2011 It was all By support and resistance.
And if it was going by S and R .1930 we will see in 2012.
I think we can see price messin around 1532-1750.
1530 Is support and 1750 is resistance.
Before 2011 It wasnt that easy to open buys and make money.
And by my opinion it not will be that easy now.
Gold comming to old rails.
Old moves.
Weak and Slow.
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  • #12,192
  • Oct 19, 2011 3:57am Oct 19, 2011 3:57am
All I said - is that on gold, like on EVERY instrument, you have short opportunities as well. While we speak, atm - gold is falling. Reasons for short today is LL from yesterday, and resistance levels which are not broken.

Pivot breached, drop - retest - fall. I dont know where this is heading. Like I posted before, I have bullish scenario for gold.
http://www.forexfactory.com/showthre...67#post5036667

But on daily basis, we have opportunities to go both directions. Not just one. IMHO.
  • #12,193
  • Oct 19, 2011 4:31am Oct 19, 2011 4:31am
Hi,
I read here last week that gold upward movement is without proper volume so price might fall to 1600 and then with proper volume it rise again.

and this week PA moved to 1625 area and back at 1650,
is that volume things still hold true.
how can I check that what was total volume when price moved to 1920 and what's it now

Thanks
  • #12,194
  • Oct 19, 2011 4:43am Oct 19, 2011 4:43am
Commodities should rise today, as Fed. Chairman Ben Bernanke suggested last night that the Fed does not expect to change its interest rate until 2013. Gold should resume its rise after American investors search for a safe haven to put their money in, as European investors did in overnight trading. Gold rose $30 after Bernanke's speach. Althogh it lost most of that gain since, I believe it will resume its rise as global investors search for safety in the coming years. Also the end of October is the start of the wedding season in India, where demand is seasonally high for the metal.

The Bank of England started repurchasing assets from English banks a few weeks back and is purchasing about $150 Million in assets from them. Undoubtly, the continuation of asset purchase will inflate the price of Gold in the near term as English banks look for places to invest.

Here is a link to the story
http://www.forexpros.com/news/commod...opments-225781
  • #12,195
  • Oct 19, 2011 5:44am Oct 19, 2011 5:44am
Quoting lilpip
with yearly breakout retested at 1551 and last week monday we moved up out of quarterly trend guide 1617 we have
a battle between monthly pivot 1674 and quarterly pivot 1617.
So we take it a day at a time.
Although the daily trend was down yesterday as we took the daily pivot south we tested both gold and silvers weekly trendguide 1634 and 30.57, they both said to go north.
wed.
gold daily
1693
1659
1625
silver daily
33.15
31.79
30.43
ok both at your pivots where to now?
@lilpip I'm new to this and sorry my question might be stupid i just want to know what do you mean by this numbers for gold is it like high, low or what, thanks
  • #12,196
  • Oct 19, 2011 6:03am Oct 19, 2011 6:03am
Last night, the US Derivative Regulator voted to limit the percent of any future owned by an institution or investor. Companies that use the commodities will be completely immune from the regulation. Their reasoning is to try and prevent bubbles from happening in commodities. It will also effect the prices as more institutions and investors have to buy the same number of futures. Here is the link to the Bloomberg Article.

http://www.bloomberg.com/news/2011-1...eculation.html
  • #12,197
  • Oct 19, 2011 6:05am Oct 19, 2011 6:05am
Quoting greedywolf
Hi,

What should be Forex leverage currently its 1:600
600 is fine....I would only trade .01 at a time.

Money management is crucial.

Discipline and patience are very important.

Most "experts" will tell you only to trade 2-3% of equity on any given trade....I prefer 1%.

It will take about 3 years to feel more comfortable.

Then just when you think you have it figured out....it will bite you in the butt.

Watch what other traders are doing n saying in this forum....there are some very seasoned traders on here.....and try to understand everything they post and why...it is a long learning curve.

Personally I would trade on a demo account for 5 years before I went live...unfortunately I am one of those people that does not learn unless there is pain ....and believe me....you WILL feel the pain

Good luck.....and many pips to ya.
Life's a bitch....so be a dog and cover it!
  • #12,198
  • Oct 19, 2011 6:15am Oct 19, 2011 6:15am
Holding a short atm....
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  • #12,199
  • Oct 19, 2011 6:37am Oct 19, 2011 6:37am
Quoting dogbreath
600 is fine....I would only trade .01 at a time.

Money management is crucial.

Discipline and patience are very important.

Most "experts" will tell you only to trade 2-3% of equity on any given trade....I prefer 1%.

It will take about 3 years to feel more comfortable.

Then just when you think you have it figured out....it will bite you in the butt.

Watch what other traders are doing n saying in this forum....there are some very seasoned traders on here.....and try to understand everything they post and why...it is a long learning curve.

Personally...
I agree but everyone must feel the firt margin call to think about it.
Whenever I was saying on forex.Margin call? No!
Month ago and margin call
This time I trade gold.
And I hope it will be sucess.
I trade only to live from it and make my capital bigger and bigger.
For me capital is only for more trades.
I trade only 0.1 lots.When Price fall 50$ I buy.When fall 50$ again I buy.I hate buysing on the top but i am doing it.
Well i have to teach more and more.This will be long ride...Learning and learning
Gold is easy to trade with some good capital.But forex? I dont understand forex trades and I cant imagine trading it for myself..
Forex is too hard for me
And I dont understand what is pricemover in gold.Fed? America?Because lot of people and lot of banks are buying.And price fall?
And sorry from my english.I am not good at it
  • #12,200
  • Oct 19, 2011 7:47am Oct 19, 2011 7:47am
gold waiting for bulls
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