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Only Gold!

  • #501
  • Jul 9, 2013 6:17am Jul 9, 2013 6:17am
Quoting Kah
Well that's what the range is between 1263 and 1272 it will fall anyway. Just keep your fingers crossed and don't close the short positions until you don't get to see 1120 on the screen
How can you be so sure about $1120 . ?
  • #502
  • Jul 9, 2013 7:06am Jul 9, 2013 7:06am
Just added one more short @ 1250, SL @ 1265

Total: 5 shorts against 9 longs
Hello World!
  • #503
  • Jul 9, 2013 7:23am Jul 9, 2013 7:23am
Quoting ClockTrader
{quote} Its not about affordability, its about correct strategy. Even with a few grand account one could play long term. Apparently, the more honey in your bread the more sweeter it'll be. Having said that, I wish I can prove here that anyone can make decent money even with a very small amount by following seasons.
Correct strategy can have different meaning. Have you come across the popular thread, "Day trading / scalping with high leverage"? I follow such style. Since my leverage is high, I just can't leave any SL at such a long distance is what I meant.

Quoting ClockTrader
Just took two shorts @ 1256 SL @ 1281 against 9 longs whose SL is @ 1180, the longs are below & above 1200 I hope it falls within a day or so.
I believe it is coming down now. Let all of us get good opportunity to exploit gold this time. Good luck.
  • #504
  • Jul 9, 2013 8:52am Jul 9, 2013 8:52am
Quoting Bhoopalan
{quote} Correct strategy can have different meaning. Have you come across the popular thread, "Day trading / scalping with high leverage"? I follow such style. Since my leverage is high, I just can't leave any SL at such a long distance is what I meant. {quote} I believe it is coming down now. Let all of us get good opportunity to exploit gold this time. Good luck.
At the end of day, if you are making money, I would be happy for you :-)

Gold right now at: ~1255, showing no signs of fall. Lets see how the JOLTS news effects it.
Hello World!
  • #505
  • Jul 9, 2013 10:40am Jul 9, 2013 10:40am
I'll call it a day, I think its gonna take some time before it falls.
Hello World!
  • #506
  • Jul 10, 2013 12:14am Jul 10, 2013 12:14am
Hi ClockTrader,

Hope you don't mind this post.

How do you like this chart? Admit the latest short entry was a bit premature in respect of the Wil% value not fully above the -20% line, yet. Let's see how the market develops.

Regards, RS
Attached Image (click to enlarge)
Click to Enlarge Name: gold 20130710.png Size: 102 KB
  • #507
  • Jul 10, 2013 1:39am Jul 10, 2013 1:39am
AUD is getting stronger, I believe gold and silver should follow, I'm long 1248,7.
  • #508
  • Jul 10, 2013 1:46am Jul 10, 2013 1:46am
Quoting RisingSun
Hi ClockTrader, Hope you don't mind this post. How do you like this chart? Admit the latest short entry was a bit premature in respect of the Wil% value not fully above the -20% line, yet. Let's see how the market develops. Regards, RS {image}
That was a little clumsy, why would I mind anyone's post here as long as its logical & authentic? Anyone including you are most welcome. You've made a nice chart, great!

Yes, its very much possible that it may keep climbing. However, I needed to lock my profits. I got a total 9 longs & five shorts, thus, still got four longs. The only thing weird I find here is that everyday I come across people here who would share their ideas, charts & views & then instead of continuing with the convo, they disappear after a day or two. I don't know if I sound that bad or what.
Hello World!
  • #509
  • Jul 10, 2013 1:55am Jul 10, 2013 1:55am
Quoting ClockTrader
{quote} That was a little clumsy, why would I mind anyone's post here as long as its logical & authentic? Anyone including you are most welcome. You've made a nice chart, great! Yes, its very much possible that it may keep climbing. However, I needed to lock my profits. I got a total 9 longs & five shorts, thus, still got four longs. The only thing weird I find here is that everyday I come across people here who would share their ideas, charts & views & then instead of continuing with the convo, they disappear after a day or two. I don't know if...
because they made tons of profit and they don't need to trade anymore
  • #510
  • Jul 10, 2013 2:24am Jul 10, 2013 2:24am
as long as we are above these 2 trend lines, I am looking for long.
Attached Image (click to enlarge)
Click to Enlarge Name: gold_7_10.JPG Size: 86 KB
  • #511
  • Jul 10, 2013 2:29am Jul 10, 2013 2:29am
Quoting jimmij
AUD is getting stronger, I believe gold and silver should follow, I'm long 1248,7.
TP hit, probably too early, but its better on fx to not be too greedy.
  • #512
  • Jul 10, 2013 3:00am Jul 10, 2013 3:00am
Quoting jimmij
{quote} TP hit, probably too early, but its better on fx to not be too greedy.
I am sorry, but I don't agree with you. Not your current trade or TP (great job!), but with the second part of your post.

I have been trading a live account for 3 years now, and one of my biggest concern is that I don't let my profit run enough. I was holding my EU long from yesterday@2770 and closed at 2800. However PA, chart patterns, fibo lines, etc. all indicated at least 2810 (already reached), but rather more. I had an AU long from Monday @9060 and closed at 9160. Why? I have no idea, and I confused, because there were far more potentials. And of course I have a lot of lost trades (about 65%-35% W/L overall). If I want to gain more profit, I have to cut my losses and let my profits run and to be as accurate as possible with my Target Points. If I gained 10 pips more from every winning trade...

Day by day, trade by trade I promise myself the take steps to stay in the trade if it moves in my favor.

You must be greedy, and you have to let your profit run.

But it's just an opinion.
  • #513
  • Jul 10, 2013 3:05am Jul 10, 2013 3:05am
Quoting sibajnok
{quote} I am sorry, but I don't agree with you. Not your current trade or TP (great job!), but with the second part of your post. I have been trading a live account for 3 years now, and one of my biggest concern is that I don't let my profit run enough. I was holding my EU long from yesterday@2770 and closed at 2800. However PA, chart patterns, fibo lines, etc. all indicated at least 2810 (already reached), but rather more. I had an AU long from Monday @9060 and closed at 9160. Why? I have no idea, and I confused, because there were far more potentials....
It can take ages for us to achieve the kind of discipline & patience we seek. If you've been winning 65% of your trades, you are an excellent trader.
Hello World!
  • #514
  • Jul 10, 2013 3:19am Jul 10, 2013 3:19am
Quoting ClockTrader
{quote} It can take ages for us to achieve the kind of discipline & patience we seek. If you've been winning 65% of your trades, you are an excellent trader.
maybe one day I will not be rookie

btw average monthly ~5% is excellent? my wife can spend that money within a day

I have to learn using more tight SL-s and getting more accurate TP-s. Because I analysed my trades and found that 2 loss trades = 1 win trade occured too many times.
  • #515
  • Jul 10, 2013 3:46am Jul 10, 2013 3:46am
Quoting sibajnok
{quote} I am sorry, but I don't agree with you. Not your current trade or TP (great job!), but with the second part of your post. I have been trading a live account for 3 years now, and one of my biggest concern is that I don't let my profit run enough. I was holding my EU long from yesterday@2770 and closed at 2800. However PA, chart patterns, fibo lines, etc. all indicated at least 2810 (already reached), but rather more. I had an AU long from Monday @9060 and closed at 9160. Why? I have no idea, and I confused, because there were far more potentials....
I agree with you that one must let profit run, but there are other, human factors. E.g. today I had short UJ @101.046 with SET TP @99,8 but get out @100,460. I took profit because on 1m chart I saw possible move up, and indeed it bounced 20 pips. I did not get S second time and that was mistake. Instead collected some 10 pips on USDCHF and recently on gold. Thus although today is already a good day, but if I just keep UJ till 99,8 I would gain more. Its probably some psychological aspect that people (not only me) do not want to buy second time to the same currency pair after collecting some profits.
  • #516
  • Jul 10, 2013 3:53am Jul 10, 2013 3:53am
And one more thing concerning gold: if we would not be above, and so close to the psychological level 1250, then I would kept my L, but in such circumstances the risk to fall bellow 1250 is too much.
  • #517
  • Jul 10, 2013 4:08am Jul 10, 2013 4:08am
Quoting jimmij
And one more thing concerning gold: if we would not be above, and so close to the psychological level 1250, then I would kept my L, but in such circumstances the risk to fall bellow 1250 is too much.
for me 1250 is not a psychological level
  • #518
  • Jul 10, 2013 4:15am Jul 10, 2013 4:15am
I'm not expecting significant moves until FOMC minutes and Bernanke speech. But that's gonna shake this silent day up
  • #519
  • Jul 10, 2013 6:03am Jul 10, 2013 6:03am
Just took two more shorts @ 1256 w/o SL, removed SL from two longs, these two sets now neutralizing each other. If its indeed going up, it can hit my other short SLs & make opposite longs effective.

Total 9 longs
against
Total 7 shorts
Hello World!
  • #520
  • Jul 10, 2013 6:27am Jul 10, 2013 6:27am
Quoting ClockTrader
Just took two more shorts @ 1256 w/o SL, removed SL from two longs, these two sets now neutralizing each other. If its indeed going up, it can hit my other short SLs & make opposite longs effective. Total 9 longs against Total 7 shorts
Wew just a suggestion i think better to cancel all other off n make 2 clean longs rather than 9 longs n 7 shorts coz its the same things. It kinda confuse yourself bro >,<
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