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Trading Gold with PA

  • #221
  • Apr 26, 2013 8:22am Apr 26, 2013 8:22am
Break up from local local resistance,
Dogi with long upper shadow
Maybe continuation when break below recent high
Good enough to short

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Attached Image (click to enlarge)
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  • #222
  • Apr 26, 2013 8:43am Apr 26, 2013 8:43am
Closed and taken a loss
I'm not doing very well lately
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  • #223
  • Apr 26, 2013 8:46am Apr 26, 2013 8:46am
Quoting Gumrai
Closed and taken a loss I'm not doing very well lately
bcoz ur tryin to trade in the range
GBP/USD
  • #224
  • Apr 27, 2013 1:53am Apr 27, 2013 1:53am
I’m new to gold trading. My investments in gold are for the long term, at least for eight to ten years. I understand the gold market has a cycle of about 30 years. Wherein, it hits an unprecedented low and thereafter steadily rises to form a new-normal price level.
  • #225
  • Apr 27, 2013 7:36am Apr 27, 2013 7:36am
Quoting thomasa.mart
I’m new to gold trading. My investments in gold are for the long term, at least for eight to ten years. I understand the gold market has a cycle of about 30 years. Wherein, it hits an unprecedented low and thereafter steadily rises to form a new-normal price level.
To be honest, I have no idea what the lowest ever price of gold has been but I really doubt that gold will go to an unprecedented low.
I'm not so sure that gold is a great investment. Gold creates nothing. It may be better to look at gold mining companies that pay dividends that can be reinvested in the company. Of course gold miners benefit from any increase in gold prices.
Just a suggestion, something for you to consider, not intended to be advice.
I feel that the gold market is for speculation, not investment, but maybe that's just me. 30 year cycles mean nothing to me when I am trading off of hourly charts.
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  • #226
  • Apr 27, 2013 8:33am Apr 27, 2013 8:33am
Quoting Gumrai
{quote} To be honest, I have no idea what the lowest ever price of gold has been but I really doubt that gold will go to an unprecedented low. I'm not so sure that gold is a great investment. Gold creates nothing. It may be better to look at gold mining companies that pay dividends that can be reinvested in the company. Of course gold miners benefit from any increase in gold prices. Just a suggestion, something for you to consider, not intended to be advice. I feel that the gold market is for speculation, not investment, but maybe that's just me....
I have heard the opinion that GOLD is the real currency of this world.
There must be a reason why National Treasuries keep a huge reserve in GOLD.
USA is the biggest example!

IMO the big moves, like recently, are only caused by National Treasuries.

Like Cyprus owing something to Germany.

One guy was proving that GOLD is actually always worth the same.
It is the dollar that devaluates, but the real worth of GOLD is the same.

GOLD has become the speculation security just since 2011.
Before that year, it was a safeheaven.
Trade the facts, not opinions.
  • #227
  • Apr 28, 2013 6:01pm Apr 28, 2013 6:01pm
Yes Dadas, probably precious metals and gems are the only true currencies.
USD, GBP etc are basically just IOUs with nothing to back them up.
It would probably be a good idea to invest long term in Gold as demand is much higher than supply -As long as the investor takes physical delivery of the gold
Most investors do not trade in physical gold. If it is true that Comex and LBMA have sold gold that does not exist, then they have basically just issued IOUs. I wonder what will happen if/when they eventually default. I have read that if 5% of gold owners actually requested delivery of their gold, delivery would be impossible, because the gold does not exist.
When you consider the huge sums involved, will these contracts/IOUs turn out to be worthless? Would Comex and LBMA have the cash to honour the contracts? I don't know, but suspect that it would only be possible with gold at a lower price than it is now. Expect further manipulation!
What would the price of gold be now if trading had been restricted to gold that actually exists?
$5,000 oz? More?
If/when the sh** hits the fan, those who have physical possession of their gold will probably be sitting very pretty. Those holding paper gold may have to accept cents on the $
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  • #228
  • Edited 3:51am Apr 29, 2013 3:38am | Edited 3:51am
Quoting Gumrai
Yes Dadas, probably precious metals and gems are the only true currencies. USD, GBP etc are basically just IOUs with nothing to back them up. It would probably be a good idea to invest long term in Gold as demand is much higher than supply -As long as the investor takes physical delivery of the gold Most investors do not trade in physical gold. If it is true that Comex and LBMA have sold gold that does not exist, then they have basically just issued IOUs. I wonder what will happen if/when they eventually default. I have read that if 5% of gold...
Yes, Gumrai,
But, that stands for every Bank in the world, as well.
If everybody wanted to withdraw their accounts, there is no Bank in the World which could supply.
This is how the whole economy works!
Money is just paper, IOU, as you say!
$1 bill is worth as much as it turns over, as many times someone purchases something with that same
dollar bill of the same serial number until it gets utilized. But for me or you, it is just $1.
So, the actual worth of $1 is nothing or infinity!
And, the dollar on your Bank account is there for infinity!
As long as someone does not turn it into a paper bill, it can be truned over for infinity!
For you and me it is what we can get for it.
Economy is one great Global Pyramid!
It is about money flow - turnover, and nothing else!

But, for you and me, it is how much of that flow we can direct to our accounts!

What is Forex with Leverage about?
Producing wealth out of pure energy - idea!
Draining the accounts of those who are mesmerised by quick wealth without having much to invest,
and not knowing what they are doing!
Those, who know what they are doing and who have Long enough accounts get richer
but, the wealth is still virtual, though it can be exchanged into material goods.

Forex is the truely Spiritual Way of Making Money!

It produces Material Wealth out of Pure Energy!
Trade the facts, not opinions.
  • #229
  • Apr 29, 2013 5:30am Apr 29, 2013 5:30am
Quoting Gumrai
Yes Dadas, probably precious metals and gems are the only true currencies. USD, GBP etc are basically just IOUs with nothing to back them up. It would probably be a good idea to invest long term in Gold as demand is much higher than supply -As long as the investor takes physical delivery of the gold Most investors do not trade in physical gold. If it is true that Comex and LBMA have sold gold that does not exist, then they have basically just issued IOUs. I wonder what will happen if/when they eventually default. I have read that if 5% of gold...
Well said Gumrai.

Gold had its chance and in extreme times monetary policy based on this metal did not work very well. 30s Depression is one of the best examples. It looks like most of the people forget about those times
  • #230
  • Apr 30, 2013 3:56am Apr 30, 2013 3:56am
Set this trade as a pending order.
Was not looking at the chart for a while
Checked to see if trade had triggered and found that it had and already hit TP

H1 chart

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  • #231
  • Apr 30, 2013 8:08am Apr 30, 2013 8:08am
Following on from my previous post.
Although number 2 candle has a bearish body, the long lower shadow indicates possible exhaustion.
There was no rejection at an obvious support level.
I would look for a long position at the break of the high of this candle, but possible resistance will not give a high probability of a good R:R, so I will not be taking any position as I would have preferred a bounce off of the bottom of the range with probability of worthwhile R:R

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  • #232
  • Apr 30, 2013 11:17am Apr 30, 2013 11:17am
Quoting Gumrai
Set this trade as a pending order. Was not looking at the chart for a while Checked to see if trade had triggered and found that it had and already hit TP H1 chart {image}
I can see that you are finally discovering the PTECZ!
Follow Candle 1 back in history.
Trade the facts, not opinions.
  • #233
  • Apr 30, 2013 11:40am Apr 30, 2013 11:40am
Quoting Dadas
{quote} I can see that you are finally discovering the PTECZ! Follow Candle 1 back in history.
what is PTECZ?????
GBP/USD
  • #234
  • Apr 30, 2013 2:15pm Apr 30, 2013 2:15pm
Quoting Dadas
{quote} I can see that you are finally discovering the PTECZ! Follow Candle 1 back in history.
Nothing to do with PTECZ, simply a zone where price has found support. If it happens to coincide with what you call PTECZ, that's all it is, a coincidence. Same as I have marked on my charts for a long time, not something that I have finally discovered.
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  • #235
  • Apr 30, 2013 2:31pm Apr 30, 2013 2:31pm
Quoting Gumrai
{quote} Nothing to do with PTECZ, simply a zone where price has found support. If it happens to coincide with what you call PTECZ, that's all it is, a coincidence. Same as I have marked on my charts for a long time, not something that I have finally discovered.
Can't you take a little joke?

Just because you refuse to try to understand my PTECZ system?

It really works, not only for me!
Trade the facts, not opinions.
  • #236
  • Apr 30, 2013 2:32pm Apr 30, 2013 2:32pm
Quoting deepak925
{quote} what is PTECZ?????
PTECZ = Potential Trend Ending Consolidation Zone
Trade the facts, not opinions.
  • #237
  • Apr 30, 2013 2:57pm Apr 30, 2013 2:57pm
The market is not so Bullish at this moment.
Notice that Price has found Resistance at the Level of D1 PTECZ.
In other words, at the Level where it Consolidated on the Bearish Trend.
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The H4 picture shows that Resistance more clearly, as Price has been rejected off that Level.
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I would expect some Bears soon.
Just watch out and observe PA.
Trade the facts, not opinions.
  • #238
  • Apr 30, 2013 3:17pm Apr 30, 2013 3:17pm
Quoting Dadas
{quote} Can't you take a little joke? Just because you refuse to try to understand my PTECZ system? It really works, not only for me!
I can take a joke, but I didn't see one


It is not that I refused to understand about your PTECZ, it's simply the case that I did not understand. I just saw a lot of words, but no real explanation of how you trade.
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  • #239
  • Apr 30, 2013 3:37pm Apr 30, 2013 3:37pm
Quoting Gumrai
{quote} I can take a joke, but I didn't see one It is not that I refused to understand about your PTECZ, it's simply the case that I did not understand. I just saw a lot of words, but no real explanation of how you trade.
There is loads of explanation on my thread.
Takes time to sift through all that!
Trade the facts, not opinions.
  • #240
  • Apr 30, 2013 4:12pm Apr 30, 2013 4:12pm
Quoting Dadas
{quote} There is loads of explanation on my thread. Takes time to sift through all that!
Thats the problem. Make the simple stuff look terribly complicated!
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