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  • #8,441
  • May 9, 2014 4:25am May 9, 2014 4:25am
Quoting Mitchoss
{quote} I don't tend to trade off anything less than a 1hr. Usually a 4hr/daily. You'll see most of my trades remain open for days rather than trying to scalp on lower time frames in the hight frequency times. Example, I won't open a trade around news events. I want for it to settle down and resume a direction
Thank you for your input. you are very helpful. keep it up
  • #8,442
  • May 9, 2014 4:40am May 9, 2014 4:40am
Quoting Mitchoss
{quote} I don't tend to trade off anything less than a 1hr. Usually a 4hr/daily. You'll see most of my trades remain open for days rather than trying to scalp on lower time frames in the hight frequency times. Example, I won't open a trade around news events. I want for it to settle down and resume a direction
Impressive
Thanks mate
  • #8,443
  • May 9, 2014 4:46am May 9, 2014 4:46am
Quoting Mitchoss
{quote} I don't tend to trade off anything less than a 1hr. Usually a 4hr/daily. You'll see most of my trades remain open for days rather than trying to scalp on lower time frames in the hight frequency times. Example, I won't open a trade around news events. I want for it to settle down and resume a direction
That is quite sensible as well, if you are not a scalper this should be the key. Also you need a lot patience to do this. Many a times you feel like entering a trade in a day but you have to be cautious. It is always easy to loose money than to gain some. If you have some levels, wait for it to come to you rather than you chasing the levels.

You spoke about direction, I am still not sure where is it heading, down/up/sideways. What is your take on that. Where do you see it heading.
  • #8,444
  • May 9, 2014 5:14am May 9, 2014 5:14am
Price try to break weekly low 1272, if fail my opinion next week will be bulish because of higher high candle this week. I set pending buy limit around 1280 and below.
  • #8,445
  • May 9, 2014 5:24am May 9, 2014 5:24am
today i think sideways, above 1289.5 bullish, below 1287 gold may reach 1277
  • #8,446
  • May 9, 2014 5:55am May 9, 2014 5:55am
Quoting diggo
{quote} Sounds like you are going to blow your account soon, trading way over leverage.. and taking your gold trade $45+ underwater, yet you are bullish on silver. Doesn't make sense.
Did not enter long on Silver, currently have two shorts open, one on Silver and one on Gold.

Scalping and keeping a limit on number of open trades is where I make good coin, margin is fine.
I do about 60+ scalps when on a roll. Other days I may have two positions for weeks at a time.
A genius is born every minute, me I am lucky if my socks match.
  • #8,447
  • May 9, 2014 5:58am May 9, 2014 5:58am
come on bulls push this price up
  • #8,448
  • May 9, 2014 6:07am May 9, 2014 6:07am
closed for 22 pips... thanks to bulls for short term profit... hehe
  • #8,449
  • May 9, 2014 6:07am May 9, 2014 6:07am
Quoting trendtrade
today i think sideways, above 1289.5 bullish, below 1287 gold may reach 1277
Yes, looking like sideways movement in relatively tight band....1288-1295
"The market can remain irrational longer than you can remain solvent"
  • #8,450
  • May 9, 2014 6:12am May 9, 2014 6:12am
Although the market bias appears to be short.....Draghi's talk about action in June (yeah...sure!) plus lower Chinese inflation numbers (China easing?) may keep gold between 1285 and 1325 for the short term.
"The market can remain irrational longer than you can remain solvent"
  • #8,451
  • May 9, 2014 6:14am May 9, 2014 6:14am
i can see a bearish flag at 4Hs

any comments.....?
Attached Image (click to enlarge)
Click to Enlarge Name: POSSIBLE BEARISH FLAG.png Size: 244 KB
  • #8,452
  • May 9, 2014 6:41am May 9, 2014 6:41am
Quoting Monkiman
closed for 22 pips... thanks to bulls for short term profit... hehe
how much is 22 pips on the gold
from 1290 to 1292.2 for instance ?
  • #8,453
  • May 9, 2014 7:06am May 9, 2014 7:06am
Quoting bonnzi
{quote} how much is 22 pips on the gold from 1290 to 1292.2 for instance ?

no its 1292.2-0.22=1291.98

or 1292.2+0.22=1294.42
  • #8,454
  • May 9, 2014 7:46am May 9, 2014 7:46am
still bulls n bears fighting... there is no real direction i think, who ever breaks out from this side movement up or down wins, but it has plenty of support down which hasnt been broken so far.
This has been going on farrrrrrrrr tooo long, given everything else has moved so much lets us see 1300+ atleast today Bulls! so i can close my longs for the weekend
  • #8,455
  • May 9, 2014 8:00am May 9, 2014 8:00am
1 more hour til the JOLTS JOBS OPENING NEWS.
Hmm, what do you guys think?
previous was 4.17m and forecast- 4.21m

i'll got short still with gold
  • #8,456
  • May 9, 2014 8:30am May 9, 2014 8:30am
Quoting bonnzi
{quote} how much is 22 pips on the gold from 1290 to 1292.2 for instance ?
ur chart looks like an art work, it better to keep it simple in this market. K.I.S.S (keep it simply simple )
  • #8,457
  • May 9, 2014 8:40am May 9, 2014 8:40am
tight stop loss got caught on 200 pips. fyuhh.

daily resistance had reached, pivot seems to be holding..but indeed the direction is driving me crazy (just for me, i think..who got a small leverage)

my gut say it will go down after the news. well, waiting with pending order, for now i think.
happy trading everyone
  • #8,458
  • May 9, 2014 8:47am May 9, 2014 8:47am
hard call, these job reports sometimes are best to stay out of until after
  • #8,459
  • May 9, 2014 9:05am May 9, 2014 9:05am
if 1291 area is holding i think bull will win
  • #8,460
  • May 9, 2014 9:44am May 9, 2014 9:44am
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