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Only Gold!

  • #6,061
  • Apr 4, 2014 1:06pm Apr 4, 2014 1:06pm
Now I think is important if price can get through 1300 and if daily can close under this price...
  • #6,062
  • Apr 4, 2014 1:09pm Apr 4, 2014 1:09pm
Quoting kirkland
Now I think is important if price can get through 1300 and if daily can close under this price...
Its the moment of truth.... :S
  • #6,063
  • Apr 4, 2014 1:17pm Apr 4, 2014 1:17pm
Quoting kirkland
Now I think is important if price can get through 1300 and if daily can close under this price...
yes...I hope if it closes below 1300, it's gonna fall like a rock off the cliff =P
  • #6,064
  • Apr 4, 2014 1:21pm Apr 4, 2014 1:21pm
Quoting Polaris4dy
{quote} yes...I hope if it closes below 1300, it's gonna fall like a rock off the cliff =P
I think it won't be easy but let's see
  • #6,065
  • Apr 4, 2014 1:24pm Apr 4, 2014 1:24pm
Quoting kirkland
{quote} I like your way of thinking in trading gold dude! Anyway what do you think about current PA?
If by PA you mean Price Action - I use it only as minor addon in my trading.
Mostly for doing precise entries on M1-M5 charts, which will allow me almost immediately move my stop-loss in positive zone, securing zero-loss future to my trades.
Also I use it for take profit levels, but there it's not that accurate, for example I closed a bunch of longs @ 1365 because all of my technical analysis was shouting that correction must start somewhere there. However as you see, Gold gone almost 30$ higher before changing direction.
So I cannot suggest anything about situation based on PA right now.
  • #6,066
  • Edited 2:15pm Apr 4, 2014 1:30pm | Edited 2:15pm
Quoting kirkland
{quote} I think it won't be easy but let's see
========================================================

i've 4 short atm , will ad more = http://screencast.com/t/FrisBjX45mk

http://screencast.com/t/cEkSCu6Cw7C
  • #6,067
  • Apr 4, 2014 1:33pm Apr 4, 2014 1:33pm
Quoting waleed.khan
{quote} thats a good philosophy?
I dont know if it's good or bad one, all I know it helps me making money.
Regarding SMAs and rest of methods, I leave this to big fish (not sure they use anything of this though) and just frontrun them by filtering those "patterns" they cannot hide. They (big fish) are NOT always right, of course, but they are right most times.
By trading only long I also decrease (not eliminate !) risks of "sh*t happens", because while itself Gold cannot practically drop to zero, the upper level of prices is limited by nothing, so shorts defacto are more risky.
  • #6,068
  • Apr 4, 2014 1:45pm Apr 4, 2014 1:45pm
Quoting Super_Mario
{quote} I dont know if it's good or bad one, all I know it helps me making money. Regarding SMAs and rest of methods, I leave this to big fish (not sure they use anything of this though) and just frontrun them by filtering those "patterns" they cannot hide. They (big fish) are NOT always right, of course, but they are right most times. By trading only long I also decrease (not eliminate !) risks of "sh*t happens", because while itself Gold cannot practically drop to zero, the upper level of prices is limited by nothing, so shorts defacto are more...
You are right...but if you said that to me 2 years ago; I would definitely agree the the upper side has no limit...but now with the economy improving and possible interest rate hikes...Its gonna be super tough for gold to make new highs and start a new super cycle... There must be a catalyst which needs to drive the market up consistently...

I'm a gold bug at heart...and I completely buy into the story...but I just don't see that in the near term; hence I prefer being a shorter! Just my two bits...but that being said i'm open trading both ways and not gettin emotionally biased about market direction...
  • #6,069
  • Apr 4, 2014 1:53pm Apr 4, 2014 1:53pm
Quoting pips777
{quote} ======================================================== i've 4 short atm , will ad more = http://screencast.com/t/FrisBjX45mk
Where are your stops dude?
  • #6,070
  • Apr 4, 2014 1:59pm Apr 4, 2014 1:59pm
even when market closes above $1300 today, that number is getting heavily protected it will eventually go down, will be a choppy ride but dont surprise when we land to 11xx area soon.
  • #6,071
  • Apr 4, 2014 2:01pm Apr 4, 2014 2:01pm
Quoting waleed.khan
{quote} You are right...but if you said that to me 2 years ago; I would definitely agree the the upper side has no limit...but now with the economy improving and possible interest rate hikes...Its gonna be super tough for gold to make new highs and start a new super cycle... There must be a catalyst which needs to drive the market up consistently... I'm a gold bug at heart...and I completely buy into the story...but I just don't see that in the near term; hence I prefer being a shorter! Just my two bits...but that being said i'm open trading both...
Yep, I am a bit jealous about people who are able to have stable earnings over decades on Gold both with longs and shorts.
Regarding the first part of your post - yes, there's no upper limit.
USD is currently backed up by nothing but trust.
Such trust is not limitless.Either quantity of printed green paper or just time itself will trigger the process.
Yes they are trying too hard to push everyone out of Gold, to make people loose their interest in yellow metal.
But they've not invented an alternative yet. Tons of green paper backed up by nothing is not the one.
  • #6,072
  • Apr 4, 2014 2:10pm Apr 4, 2014 2:10pm
Quoting Super_Mario
{quote} Yep, I am a bit jealous about people who are able to have stable earnings over decades on Gold both with longs and shorts. Regarding the first part of your post - yes, there's no upper limit. USD is currently backed up by nothing but trust. Such trust is not limitless.Either quantity of printed green paper or just time itself will trigger the process. Yes they are trying too hard to push everyone out of Gold, to make people loose their interest in yellow metal. But they've not invented an alternative yet. Tons of green paper backed up by...
LOL...i agree, I hear you... but i can't wait 3 to 10 years for that...I need a reason to go long for the medium/long term..quiet frankly there is none...except maybe if india in the near term lifts their quota's on imports of gold...other then that...or some world crisis evetn...the only place gold can go is down!
  • #6,073
  • Apr 4, 2014 2:26pm Apr 4, 2014 2:26pm
Quoting waleed.khan
but i can't wait 3 to 10 years for that...
So we again returned to subject called "greed"
Indian quota as trigger is weak to make new highs.
Continuously improving friendship between Russia and China, at some point could be that trigger.
When they stop/decrease usage of USD and switch to their own currencies.
When China starts selling off the US debt it was buying all these years.
When China announces their fresh Gold reserves audit and people start guessing where all this Gold comes from.
Even Ukraine/Crimea crisis could only push Gold just 30$ above the planned levels before correction start.
So yes, it needs global STRONG driver. And it will be Black Swan.
  • #6,074
  • Apr 4, 2014 3:59pm Apr 4, 2014 3:59pm
I closed 20-30% of my positions in profit, tried hourly trading, but failed, of course nominal loss.

Hedged every single long I had.
Hello World!
  • #6,075
  • Edited Apr 5, 2014 8:31am Apr 4, 2014 4:05pm | Edited Apr 5, 2014 8:31am
okie fellas, here is the deal. Please find below a quick sign up form to subscribe "Daily Free Signals"
Its a pilot project, a test run of what I've been working on for over 8 yrs.

edited: First read below page carefully

http://www.goldguru.in/blog/forex-si...-gold-signals/

and then you can sign up on below page:

http://www.goldguru.in/blog/pilot-dcb-project/

Anybody can sign up including the fellas who have already requested their name to be added to the list.

I'll write a small article about this whole concept during weekend, so you get transparent picture of whats going on.

PS: Basically I would require your email where I can send the signals to.
Hello World!
  • #6,076
  • Apr 4, 2014 4:15pm Apr 4, 2014 4:15pm
Quoting ClockTrader
I closed 20-30% of my positions in profit, tried hourly trading, but failed, of course nominal loss. Hedged every single long I had.
Off topc;

Can you tell me what is the ratio between your long and your hedge? Lets say you long 1.0 lot, how much would you hedge that one by(lots)??
  • #6,077
  • Apr 4, 2014 4:22pm Apr 4, 2014 4:22pm
Quoting Monkeybuss
{quote} Off topc; Can you tell me what is the ratio between your long and your hedge? Lets say you long 1.0 lot, how much would you hedge that one by(lots)??
1:1

one short against each long of equal weight, net position: NULL
Hello World!
  • #6,078
  • Apr 4, 2014 4:24pm Apr 4, 2014 4:24pm
Quoting ClockTrader
{quote} 1:1 one short against each long of equal weight, net position: NULL
Thanks Man
  • #6,079
  • Apr 4, 2014 4:26pm Apr 4, 2014 4:26pm
Wish you all a great weekend. If you have any queries regarding "Pilot DCB", please hold them until I write an article on the same. More updates on way.

Cheers :=)
Hello World!
  • #6,080
  • Apr 4, 2014 4:26pm Apr 4, 2014 4:26pm
Quoting Monkeybuss
{quote} Off topc; Can you tell me what is the ratio between your long and your hedge? Lets say you long 1.0 lot, how much would you hedge that one by(lots)??
Or maybe are you referring to R-multiples??
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