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Only Gold!

  • #281
  • Jun 26, 2013 8:04am Jun 26, 2013 8:04am
I buy very small lot of gold at 1229.8 hopefully its reversal not just retrace .

Maybe your right clocktrader, I start to think why gold fall during may,june probably because of people sell their jewelry to pay school for their children and for long semester vacation.
  • #282
  • Edited 8:32am Jun 26, 2013 8:07am | Edited 8:32am
Quoting rokeering
For me, I will SELL gold whenever there is a small bounce. There are several fundamental reason. 1. The Paper gold is selling. There is a huge outflow of hot money from ETFs to Bonds and other safer investments. 2. Interest rates will rise if Fed holds to its promise. rising interest adversely affects gold price And on the Physical side 1. India (Biggest Physical Buyer) - Indian government recently put several measures to curb import of bullion to reduce its current account deficit. Major steps include rising import duties and restriction on banks...
1. Indians broke all previous records while buying Gold this summer season, check the stats.

I've re-started buying, will buy again after new moon i.e. in about 10 days from now.

edited: will buy again in about 10-15 days from now ( around July-10 ), just not sure about the dates yet.
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  • #283
  • Jun 26, 2013 8:42am Jun 26, 2013 8:42am
Quoting nicefirework
I buy very small lot of gold at 1229.8 hopefully its reversal not just retrace . Maybe your right clocktrader, I start to think why gold fall during may,june probably because of people sell their jewelry to pay school for their children and for long semester vacation.
That was kinda funny. The way I put it, buying around June would help only if you have the strength to buy downward & have the patience to sell in Jan-Feb. Its more of an investor's idea.

I don't see any correlation between physical Gold & Forex Gold, except that people follow Forex rates to buy/sell Gold in physical form. For instance: If I were a Gold miner in Australia & selling to some bank in India, what do I have to do with Forex Gold? except follow the price? Forex Gold index moves away from profit taking area & goes where SLs are lying. This applies to general masses (public) at least. If everyone in the world (ordinary masses incl. me) was buying, it'll go down. Correct me if I'm wrong.
Hello World!
  • #284
  • Jun 26, 2013 9:04am Jun 26, 2013 9:04am
Quoting salman14
{quote} Target achieved, Next target may be 1226 then 1188 , where i 'll look for a setup , Bear weakness is necessary for me at these level otherwise no trade
well , respecting the 1226 area , good to see
  • #285
  • Jun 26, 2013 9:42am Jun 26, 2013 9:42am
Quoting salman14
{quote} well , respecting the 1226 area , good to see
So, do you now look forward to 1188? or what?
Hello World!
  • #286
  • Jun 26, 2013 11:42am Jun 26, 2013 11:42am
I'll go to bed now, quite late. I hope I don't wake up to see a clean slate once again. Tired of seeing SLs getting hit Ugghhhh

SLs 1180 - 1190
Bought in the range: ~1230-1240ish
Hello World!
  • #287
  • Jun 26, 2013 1:13pm Jun 26, 2013 1:13pm
Quoting ClockTrader
I'll go to bed now, quite late. I hope I don't wake up to see a clean slate once again. Tired of seeing SLs getting hit Ugghhhh SLs 1180 - 1190 Bought in the range: ~1230-1240ish

I like your thread ClockTrader, it's interesting. Not so sure if everything is usable for my trading, but I am open for all sorts of things.
I probably won't post much (or anything at all, lol), but just so you know, there are people reading your posts.

Just a question out of curiosity, do you also "scalp" gold for just a few dollars? Or are you only positioning yourself for moves above $30-50 and way beyond??
I struggle with long-term trading, I mainly position myself for small trades, though I occasionally have $10-20 moves. I have an average of $4-5 (That's 400-500 pips on my platform, according to other brokers/platforms that's 40-50 pips).
I often close to early or too late. But I am learning and developing my skills.

For example. At the moment, just before I read you last post, I opened a Long at 1231, just for a few, TP 1244-45. Or 1238 if I feel it's struggling. Will place SL at BE as soon as there is some room and preferably before going to sleep. else SL at 1226
But you see, I have more of a short term strategy. But I like to learn more about the bigger picture and lunar cycles etc.

Good luck and thank you for posting!
  • #288
  • Jun 26, 2013 2:56pm Jun 26, 2013 2:56pm
Quoting ClockTrader
{quote} So, do you now look forward to 1188? or what?
PA looks strange and dancing around these levels , there are only 4 days left of the month , so a close above 1229-1230 is important for me. if it happens then it may invalidate 1188 for a while , otherwise its open for 1188 . 4H chart showing that it has not committed to go below 1217(at least for today) right now i have no open position on Gold, today i bought a micro at 1235 and closed at 1240
Attached Image (click to enlarge)
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  • #289
  • Jun 26, 2013 6:27pm Jun 26, 2013 6:27pm
Attached Image (click to enlarge)
Click to Enlarge Name: Capture 15 min.PNG Size: 184 KB
  • #290
  • Jun 26, 2013 10:06pm Jun 26, 2013 10:06pm
Quoting Stretch
{quote} I like your thread ClockTrader, it's interesting. Not so sure if everything is usable for my trading, but I am open for all sorts of things. I probably won't post much (or anything at all, lol), but just so you know, there are people reading your posts. Just a question out of curiosity, do you also "scalp" gold for just a few dollars? Or are you only positioning yourself for moves above $30-50 and way beyond?? I struggle with long-term trading, I mainly position myself for small trades, though I occasionally have $10-20 moves. I have an...
Thanks for reading posts here. I'm certainly not a scalper. I wish to be a long term investor. I wish I could play on monthly or annual chart. I'm one of the most lethargy guys here, who wish to invest & forget & only interested in withdrawing money every month.
Hello World!
  • #291
  • Jun 26, 2013 10:07pm Jun 26, 2013 10:07pm
Quoting salman14
{quote} PA looks strange and dancing around these levels , there are only 4 days left of the month , so a close above 1229-1230 is important for me. if it happens then it may invalidate 1188 for a while , otherwise its open for 1188 . 4H chart showing that it has not committed to go below 1217(at least for today) right now i have no open position on Gold, today i bought a micro at 1235 and closed at 1240 {image}
Even I've been buying in micros, in batches though. No courage or $$ to play big.
Hello World!
  • #292
  • Jun 26, 2013 10:21pm Jun 26, 2013 10:21pm
nice setup around here for gold ...but friend of mine who working in one of biggest gold mining .. told me that production cost is about 95x.
so just put SL below that number i think ...
not euphoria follower
  • #293
  • Jun 26, 2013 10:24pm Jun 26, 2013 10:24pm
Quoting iqyu5an
nice setup around here for gold ...but friend of mine who working in one of biggest gold mining .. told me that production cost is about 95x. so just put SL below that number i think ...
Somewhere I read that mining cost of one oz is about $1200

I wonder what 95x means?

PS: Read this whole page, somewhere I've discussed the relation between real physical Gold & Virtual Forex. You may wanna discuss that.
Hello World!
  • #294
  • Jun 26, 2013 10:25pm Jun 26, 2013 10:25pm
Quoting iqyu5an
nice setup around here for gold ...but friend of mine who working in one of biggest gold mining .. told me that production cost is about 95x. so just put SL below that number i think ...


IMO Silver is the better option for the same reasons, production is around $17 and has a better demand outlook than Gold
Money never sleeps...
  • #295
  • Jun 26, 2013 10:28pm Jun 26, 2013 10:28pm
Quoting ClockTrader
{quote} Somewhere I read that mining cost of one oz is about $1200 I wonder what 95x means? PS: Read this whole page, somewhere I've discussed the relation between real physical Gold & Virtual Forex. You may wanna discuss that.

a harsh post bro to someone very respected.

Gold production can vary but is much less than $1200


95x is anything from 950 to 959
Money never sleeps...
  • #296
  • Jun 26, 2013 10:38pm Jun 26, 2013 10:38pm
i talked to close friend who working in gold mining not from reading bro
i believe he will not inform everything...and i could be wrong of course

technically..in harmonic there is bullish butterfly at the moment.. but if the bear penetration is still strong .. maybe it's good to wait for crab also... well time for scalling in ?

Quoting ClockTrader
{quote} Somewhere I read that mining cost of one oz is about $1200 I wonder what 95x means? PS: Read this whole page, somewhere I've discussed the relation between real physical Gold & Virtual Forex. You may wanna discuss that.
not euphoria follower
  • #297
  • Jun 26, 2013 11:24pm Jun 26, 2013 11:24pm
Quoting iqyu5an
nice setup around here for gold ...but friend of mine who working in one of biggest gold mining .. told me that production cost is about 95x. so just put SL below that number i think ...
so would not that mean 950 is reversal ? Thats when stops on masse get trigerred.

This is still another 25-30% , so light scaling in below current low would make sense......
  • #298
  • Jun 26, 2013 11:35pm Jun 26, 2013 11:35pm
Quoting inpatient
{quote} a harsh post bro to someone very respected. Gold production can vary but is much less than $1200 95x is anything from 950 to 959
I can be 100% wrong at many times, as long as I'm around to accept my mistakes, I would always feel good & find solace. Thanks for the inputs mate.

Quoting iqyu5an
i talked to close friend who working in gold mining not from reading bro i believe he will not inform everything...and i could be wrong of course technically..in harmonic there is bullish butterfly at the moment.. but if the bear penetration is still strong .. maybe it's good to wait for crab also... well time for scalling in ? {quote}
As for bearish / bullish sentiment, right now I'm long. If my SLs get a hit, I'd go long again. I'm awaiting New moon, hope I get enlightened for further course. I'm finding next 3-4 weeks very challenging to play.
Hello World!
  • #299
  • Jun 26, 2013 11:39pm Jun 26, 2013 11:39pm
Quoting iqyu5an
nice setup around here for gold ...but friend of mine who working in one of biggest gold mining .. told me that production cost is about 95x. so just put SL below that number i think ...
Check the crude oil history, if Gold were to fall indeed that bad, it could go down to $400

However, my technicals suggest Gold is a unique element & well protected from falls of that nature.
Hello World!
  • #300
  • Edited 2:26am Jun 27, 2013 2:06am | Edited 2:26am
Quoting ClockTrader
{quote} Thanks for reading posts here. I'm certainly not a scalper. I wish to be a long term investor. I wish I could play on monthly or annual chart. I'm one of the most lethargy guys here, who wish to invest & forget & only interested in withdrawing money every month.

Ah I see. Thank you for your reply
Well I don't have the patience for that I rather sit behind my desk for 10 hours and jump in and out of trades. Maybe someday I will be able to trade longer term. But this kind of works now for me. Though it's very stressful at times haha (trading is)

My sl got hit at previous trade, but I reentered lower for some.
Currently one open position: Opened a Short 1240 just now for a few, open TP, just watching my levels for PA reaction
Edit: Will try to move SL to BE as soon as I feel comfortable. I don't like big SL's, I still position to big most of the times. (Not a recommendation, I had my fair share of losing streaks that can wipe out an account.)
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