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  • #161
  • May 25, 2013 12:01am May 25, 2013 12:01am
Yes I understand that bored and tired mental suffering...I suggest you maybe switch to other more volatile pairs for the time being. Hopefully like what you said it's silence before a storm and Gold can offer us more profiting opportunities next week
Quoting ClockTrader
There is a saying which states that "Silence can be observed before the storm comes" The week is about to close & I'm bored & tiraned of no decent movement in the past 24 - 48 hrs. I've been long & have set the stops in such a way that I have nothing to lose, but, I'm running out of patience now. Tired & bored!
make some money, have some fun, leave some footprints
  • #162
  • May 25, 2013 12:45am May 25, 2013 12:45am
Quoting boostrade
Yes I understand that bored and tired mental suffering...I suggest you maybe switch to other more volatile pairs for the time being. Hopefully like what you said it's silence before a storm and Gold can offer us more profiting opportunities next week{quote}
Thanks for the advise mate. I have done EUR/USD a lot in the past & maybe I'll retry that in future. Unfortunately, the more volatile a pair like cable the more challenging it becomes to handle.

When it comes to self control & discipline, I'm way below average. I don't know how & why, but, I've been relatively very fortunate with Gold & therefore I plan to stick to it & not touch other pairs until I have decent loads of spare cash.
Hello World!
  • #163
  • May 28, 2013 2:13am May 28, 2013 2:13am
It's very hard for gold to break 1400 level. Is there any explanation about that mr clocktrader? thanks for your information. goodluck
  • #164
  • May 28, 2013 3:56am May 28, 2013 3:56am
Here is a very interesting view on gold&silver. The video has only 23 minutes and is worth watching it.
http://www.forex-galaxy.com/p/blog-page.html
Buy when everyone else is selling and sell when everyone else is buying !
  • #165
  • May 28, 2013 8:59am May 28, 2013 8:59am
Quoting ronald_fsm
It's very hard for gold to break 1400 level. Is there any explanation about that mr clocktrader? thanks for your information. goodluck
Yea, its taking Gold forever to break & sustain above 1400 level. One major reason is the summer peaking out. I understand it may be sound like alien language, but, this is how it is.

As per my calculus, it needs to shoot beyond or around 1450 level, possibly even near 1500 within next 7 days as I'm expecting a small fall thereafter.

On the contrary, If it keeps going sideways for another 7 days & fall thereafter would mean dooms day for Gold which is beyond the scope of my knowledge.

Another buy window should open around 15th of June. That's all I can see right now.

I lost a few (10%) of my short term long Gold positions in the past 12 hrs (SL hit). I re-took some later.
Hello World!
  • #166
  • May 28, 2013 9:46am May 28, 2013 9:46am
Quoting arenoosh
Here is a very interesting view on gold&silver. The video has only 23 minutes and is worth watching it.http://www.forex-galaxy.com/p/blog-page.html
Interesting video, pure economics. Gives a good hope to Gold Investors! Worth watching.
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  • #167
  • Edited 10:27pm May 28, 2013 10:07pm | Edited 10:27pm
Psychology & Attitude Issues:

In this post I wish to share the psychology & attitude problem I often face, actually keep facing. I'll try to figure out a fix, hope you guys share & help too. Possibly there are many out there suffering from this mental shortcoming. I'll keep it short, still goes long though. Here below it goes:

Situation:

Lets say, I have long positions, well positioned & its climbing fine, I feel like I am hypnotised, my mind's orientation or the fear of losing begins to minimise. I can feel adrenaline clubbed with audaciousness running through my blood vessels. After all, I feel like a hero. I located a bottom, failed slightly, then finally, positioned well. Sounds more than good.

Apparently, any seasoned trader can understand I'm falling badly. In a situation like this, I may buy more, because I'm too confident, might compromise with money management & commit several such mistakes & finally blow everything.

Psycho Fix:

  1. Irrespective of the fact how well I have played, I should look at the bottom as well as upside with equal weight i.e. 50:50 no matter how hot my equity figures looks like.
  2. Experience has taught & I have learnt well not to blow the accounts any more. That came with experience to me. People with good self control can learn this easier way.
  3. Never ever look at 5m or 1h etc charts if you are a swing trader playing on weekly or monthly basis. If you look so minutely, don't get swayed by the trends in them.
  4. Be patient like a crocodile who can wait as long as for 10 - 15 days while targeting its prey.

I hope I learn by sharing my thoughts, most of which go undocumented.

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  • #168
  • May 28, 2013 10:27pm May 28, 2013 10:27pm
Quoting ClockTrader
Psychology & Attitude Fix: In this post I wish to share the psychology & attitude problem I often face, actually keep facing. I'll try to figure out a fix, hope you guys share & help too. Possibly there are many out there suffering from this mental shortcoming. I'll keep it short, still goes long though. Here below it goes: Situation: Lets say, I have long positions, well positioned & its climbing fine, I feel like I am hypnotised, my mind's orientation or the fear of losing begins to minimise. I can feel adrenaline clubbed with audaciousness running...
Thank you ClockTrader. Number 2 and Number 4 I align with 100% in all respects. Number 3 is also meaningful. The "...actually keep facing" fits too.

...what prompted me to actually decide to write was number 4 though: The Grand Principle of W a i t i n g . It took a lot of experience packed into two years (seems longer but turns out, not) to get a person like me, the one who always seems to have to learn the hard way, to be completely, utterly relaxed and fine with not being in trades until they hit levels at which I want to enter. I guess some positive experiences have taught me when the position is good on entry, the results are excellent.

Thank you for writing just as you did. For me, it's perfect.
  • #169
  • May 28, 2013 10:39pm May 28, 2013 10:39pm
Quoting ClockTrader
Psychology & Attitude Issues: In this post I wish to share the psychology & attitude problem I often face, actually keep facing. I'll try to figure out a fix, hope you guys share & help too. Possibly there are many out there suffering from this mental shortcoming. I'll keep it short, still goes long though. Here below it goes: Situation: Lets say, I have long positions, well positioned & its climbing fine, I feel like I am hypnotised, my mind's orientation or the fear of losing begins to minimise. I can feel adrenaline clubbed with audaciousness...
Hi Clock Trader,
You are the first trader who understand a bit psycho- trading, and i strongly advise you to add entries no matter you losing or winning each 100 pips move on currencies or 10 points on gold... best of wishes in trading
Forex
  • #170
  • May 28, 2013 10:41pm May 28, 2013 10:41pm
Quoting Greenstar
{quote}Thank you ClockTrader. Number 2 and Number 4 I align with 100% in all respects. Number 3 is also meaningful. The "...actually keep facing" fits too. ...what prompted me to actually decide to write was number 4 though: The Grand Principle of W a i t i n g . It took a lot of experience packed into two years (seems longer but turns out, not) to get a person like me, the one who always seems to have to learn the hard way, to be completely, utterly relaxed and fine with not being in trades until they hit levels at which I want to enter. I guess...
You might wanna read this article, its toooo good. Simple & straight similarities between a crocodile & a good trader, incredible:

http://www.learntotradethemarket.com...-forex-trading
Hello World!
  • #171
  • May 28, 2013 11:12pm May 28, 2013 11:12pm
Quoting ClockTrader
{quote} You might wanna read this article, its toooo good. Simple & straight similarities between a crocodile & a good trader, incredible: http://www.learntotradethemarket.com...-forex-trading
I agree with this article. It's hard to be patient like crocs.
  • #172
  • May 28, 2013 11:55pm May 28, 2013 11:55pm
Quoting ronald_fsm
{quote} I agree with this article. It's hard to be patient like crocs.
Ronald, it appears you have been in this business for quite some time. I believe you might have good patience. However, possibly its the lack of conviction hindering your path to next level.
Hello World!
  • #173
  • May 29, 2013 5:38am May 29, 2013 5:38am
This hasn't been going up, I smell bad. I'll reduce risk & greed now.
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  • #174
  • May 30, 2013 12:00am May 30, 2013 12:00am
Quoting ClockTrader
This hasn't been going up, I smell bad. I'll reduce risk & greed now.
I've cleared all my longs, got a clean slate now. Within next 48 hrs it needs to sustain above 1400 otherwise I believe most prolly its going down. Feel like sitting on a edge, little profit was better than risk & confusion. Feel lighter & better now.

Very soon, I plan to publish a trending chart using New Moons, dates will be picked from NASA resource, I'll publish the link too. I hope we get a clear long term long direction by mid of June.
Hello World!
  • #175
  • May 30, 2013 2:26am May 30, 2013 2:26am
Quoting ClockTrader
{quote} I've cleared all my longs, got a clean slate now. Within next 48 hrs it needs to sustain above 1400 otherwise I believe most prolly its going down. Feel like sitting on a edge, little profit was better than risk & confusion. Feel lighter & better now. Very soon, I plan to publish a trending chart using New Moons, dates will be picked from NASA resource, I'll publish the link too. I hope we get a clear long term long direction by mid of June.
why do you think that gold will still below 1400? At the moment gold currently above 1400. I just want to know your explanation. Thanks and best regards
  • #176
  • May 30, 2013 2:45am May 30, 2013 2:45am
Quoting ronald_fsm
{quote} why do you think that gold will still below 1400? At the moment gold currently above 1400. I just want to know your explanation. Thanks and best regards
Yea, right now its at 1407. If you take a look at past 10 days, it has touched and/or breached 1400 level at least 4-5 times. Going forward, it needs to sustain above 1405 - 1415 levels, particularly early next week. Later in the US session today, I expect high volumes accompanied by stormy price action due to news & some other factors.

I conclude next 48 hrs are going to be decisive on how Gold waves unfold for next week. Either way, with loads of longs it was getting scary for me & I decided to close all these below 1400. That was early & I was somewhat wrong, but I just couldn't hold the positions due to burden. I hope to improve in future.
Hello World!
  • #177
  • May 30, 2013 2:51am May 30, 2013 2:51am
Quoting ClockTrader
{quote} Yea, right now its at 1407. If you take a look at past 10 days, it has touched and/or breached 1400 level at least 4-5 times. Going forward, it needs to sustain above 1405 - 1415 levels, particularly early next week. Later in the US session today, I expect high volumes accompanied by stormy price action due to news & some other factors. I conclude next 48 hrs are going to be decisive on how Gold waves unfold for next week. Either way, with loads of longs it was getting scary for me & I decided to close all these below 1400. That was early...
Close all long may not wrong choice.. Tonight is possible send gold down to 137x area..
Market will decide.. As long as you got your green pips is very good
  • #178
  • May 30, 2013 3:19am May 30, 2013 3:19am
Quoting ClockTrader
{quote} I've cleared all my longs, got a clean slate now. Within next 48 hrs it needs to sustain above 1400 otherwise I believe most prolly its going down. Feel like sitting on a edge, little profit was better than risk & confusion. Feel lighter & better now. Very soon, I plan to publish a trending chart using New Moons, dates will be picked from NASA resource, I'll publish the link too. I hope we get a clear long term long direction by mid of June.

You out of position ?
  • #179
  • May 30, 2013 5:45am May 30, 2013 5:45am
Quoting k3nshinz3139
{quote} Close all long may not wrong choice.. Tonight is possible send gold down to 137x area..Market will decide.. As long as you got your green pips is very good
If Gold is not found comforting above 1400 next week, it could be very very bad scenario for Gold investors :-(
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  • #180
  • May 30, 2013 5:49am May 30, 2013 5:49am
Quoting seaman2
{quote} You out of position ?
YUP! I need to relax, badly suffer from anxiety attacks.
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