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Only Gold!

  • #9,861
  • Jun 10, 2014 8:09am Jun 10, 2014 8:09am
yeh Epoch, totally undisciplined , thought I was right ....
Whats That? you're trading What?
  • #9,862
  • Jun 10, 2014 8:11am Jun 10, 2014 8:11am
Quoting ClockTrader
{quote} In some accounts on some positions I did, I will continue to invest in June and July slowly and steadily. Tip: When a person is investing, lower the better and there are supposed to be no SLs as the leverage has to be the least.
Still only on one account myself... After 3 years of lurking and 1 full year of demo trading I put down a lot of capital 2 months ago so just busy trying to build that up before I start worrying about multiple accounts and leverage...

So CT what sort of leverage do you use for your shortest investment horizon accounts? I'm currently using 1:300 but with super strict MM and SLs but a few people seem to think anything over 1:100 is suicide... Your thoughts?
  • #9,863
  • Jun 10, 2014 8:14am Jun 10, 2014 8:14am
any explanation for spike? news, etc? At least some volatility into the mix and range expanded.

I am still holding shorts and may add to them later in the week, especially as we near U.S. UE claims on Thursday.
"The market can remain irrational longer than you can remain solvent"
  • #9,864
  • Jun 10, 2014 8:22am Jun 10, 2014 8:22am
Quoting The Epoch
{quote} Still only on one account myself... After 3 years of lurking and 1 full year of demo trading I put down a lot of capital 2 months ago so just busy trying to build that up before I start worrying about multiple accounts and leverage... So CT what sort of leverage do you use for your shortest investment horizon accounts? I'm currently using 1:300 but with super strict MM and SLs but a few people seem to think anything over 1:100 is suicide... Your thoughts?
Here in India, one of my cousins says that if you wanna buy 1 ounce, you should have $1260 (current price) in your pocket and 10 - 20% of $1260 in your account. In other words, 1:1 i.e. no leverage at all.

However, I do not fully comply with his advise. Personally, I think when its about investing, you should have at least 25% of the value of Gold in June. IF things get dirty, you should have more funds ready i.e. 1:4 leverage looks good to me. I'll make a lot less, but I will surely get good sleep.

PS: These views are with respect to Golden Seasons.
Hello World!
  • #9,865
  • Jun 10, 2014 8:25am Jun 10, 2014 8:25am
Quoting anton.olff
any explanation for spike? news, etc? At least some volatility into the mix and range expanded. I am still holding shorts and may add to them later in the week, especially as we near U.S. UE claims on Thursday.
have you seen yesterday released china PMI ? not no mention last week extremes ECB QE measures = Bull Gold
  • #9,866
  • Edited 9:10am Jun 10, 2014 8:30am | Edited 9:10am
Closed three of my highest positioned longs in profit. Will re-enter after the retracement considering the bull and bear fight that will take place around 1260.

Best regards,

Frietzak
  • #9,867
  • Jun 10, 2014 8:30am Jun 10, 2014 8:30am
Quoting anton.olff
any explanation for spike? news, etc? At least some volatility into the mix and range expanded. I am still holding shorts and may add to them later in the week, especially as we near U.S. UE claims on Thursday.

Purely technical explanation... Breakout from a contraction; there was an engulfing candle on the daily which needed to play out; plus price had to retrace... 1262-8 level 1 and 1275-85 level 2... I don't think there is enough for it to test the latter (so far*); USD index seems to be moving in an up channel past few days; eventually gold will reverse...

For me personally shorting at these levels doesn't make sense...maybe small scalps but 3 or 4 day trades..is very risky; as it is close to the time of hitting a bottom...(I might short if there are reversal candles in the 1280 retest area) hence I agree with CT's framework about collecting buy's on pull backs; but I do think that price should test slight lower areas and towards the end of the month; price should consistently start rallying higher...

*At this moment usd index is testing its resistance areas; so there is a chance that it will start moving lower for the day' this could help in pushing prices up...but this is not being said with conviction...
  • #9,868
  • Jun 10, 2014 8:57am Jun 10, 2014 8:57am
Quoting waleed.khan
{quote} Please be careful... Usd index has reversed and is going up...euro is falling; usdjpy has recovered and heading up again... the volumes are even not there to support a major rise for the time being... GL!
Makes me wonder how you get your yellow ticket. Sorry I don't want to start a fight but I just don't understand it
A 1 pip gain is better than a 1 pip loss.
  • #9,869
  • Edited 9:17am Jun 10, 2014 9:02am | Edited 9:17am
Quoting aeternum
{quote} Makes me wonder how you get your yellow ticket. Sorry I don't want to start a fight but I just don't understand it
Well thats trading... Views change by the day (note 'I said for the time being")... but that was yesterday and I said that based on low volumes (Did price go up yesterday?) ...Yesterday Gold showed a lot of resilience as it hung in these level amidst a rising dollar index (that shows interim strength)... if you read my posts on friday I did expect an up leg... I was being bit more optimistic about the 1280 levels that I didn't mention the first area of resistance...
Cheers!
  • #9,870
  • Jun 10, 2014 9:28am Jun 10, 2014 9:28am
Quoting waleed.khan
{quote} Well thats trading... Views change by the day (note 'I said for the time being")... but that was yesterday and I said that based on low volumes (Did price go up yesterday?) ...Yesterday Gold showed a lot of resilience as it hung in these level amidst a rising dollar index (that shows interim strength)... if you read my posts on friday I did expect an up leg... I was being bit more optimistic about the 1280 levels that I didn't mention the first area of resistance... Cheers!
Well, I can say gold is going to 1500. It will happen in this year. And as long as it does, I'm God. Sorry, I'm not being pessimistic or anything. Just perhaps jealousy and some form of "this guy doesn't show anything but his speech".

but sure I hope you're going green for as long as you're trading.
A 1 pip gain is better than a 1 pip loss.
  • #9,871
  • Jun 10, 2014 9:41am Jun 10, 2014 9:41am
Quoting aeternum
{quote} Well, I can say gold is going to 1500. It will happen in this year. And as long as it does, I'm God. Sorry, I'm not being pessimistic or anything. Just perhaps jealousy and some form of "this guy doesn't show anything but his speech". but sure I hope you're going green for as long as you're trading.
It's okay man...at least you are being honest about your feelings (I can respect you for that)

Maybe gold does go to 1500? I don't know; because my time span of trading is a few days... I don't like to emotionally attach myself with direction or "a level of price"... I just say what I see... and if it helps anyone; then I am glad (that means good karma coming my way..)

Please know that whatever I say or any analysis that I do here; is based on a logical framework; I don't say things out of my whims (perhaps people respect that)... Can I be wrong? Hell yes; I can flat out tell you that out of every 10 trades: I only get 4 right! but that's okay with me and it works out...

I think we are drifting over here...trading should be about making money as opposed to who gets a card or not; quiet frankly I don't care about such things and neither should you (it's a distraction; if anything) ? Peace
  • #9,872
  • Jun 10, 2014 9:47am Jun 10, 2014 9:47am
Quoting waleed.khan
{quote} It's okay man...at least you are being honest about your feelings (I can respect you for that) Maybe gold does go to 1500? I don't know; because my time span of trading is a few days... I don't like to emotionally attach myself with direction or "a level of price"... I just say what I see... and if it helps anyone; then I am glad (that means good karma coming my way..) Please know that whatever I say or any analysis that I do here; is based on a logical framework; I don't say things out of my whims (perhaps people respect that)......
Sure peace sounds good but I don't wish to be affected by your calls that's all. I guess we all post what we feel here anyway, so yeah I shouldn't take things too harshly. Thank you for being the mature one on this.

on the topic, I see a consolidation around here or otherwise a push to 127x which will overbuy my daily followed by a retrace. Then it may go higher based in weekly indicators. But yes none of what we say must be taken seriously and due diligence is required from everyone.
A 1 pip gain is better than a 1 pip loss.
  • #9,873
  • Jun 10, 2014 10:03am Jun 10, 2014 10:03am
Quoting aeternum
{quote} Sure peace sounds good but I don't wish to be affected by your calls that's all. I guess we all post what we feel here anyway, so yeah I shouldn't take things too harshly. Thank you for being the mature one on this. on the topic, I see a consolidation around here or otherwise a push to 127x which will overbuy my daily followed by a retrace. Then it may go higher based in weekly indicators. But yes none of what we say must be taken seriously and due diligence is required from everyone.
No problem Buddy...

I wish that this affliction of yours disappears someday; Good luck to you in your trading nonetheless...
  • #9,874
  • Jun 10, 2014 10:13am Jun 10, 2014 10:13am
Quoting frietzak
closed three of my highest positioned longs in profit. Will re-enter after the retracement considering the bull and bear fight that will take place around 1260. Best regards, frietzak
hi were doing well looking to get higher to 68 or more 89 would be amazing ??
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  • #9,875
  • Jun 10, 2014 10:24am Jun 10, 2014 10:24am
I have the number 1490 stuck in my head for golds peak this year, honestly I thought we would go lower as well to at least 1235 but the summer isn't over yet. Must be patient and wait for a perfect entry to load more long positions. Im sitting on some small longs @ 1245's.
  • #9,876
  • Jun 10, 2014 10:26am Jun 10, 2014 10:26am
Quoting fxmasterdxb
I'm on the sideline for the time being after shorting from 1256 to 1247, according to my charts, the bear attack should be over by maximum 1244 - 1239 zone before resuming the uptrend to test 1266 - 1271 zone, from there we will see the trend direction.
still waiting for the 1266 had a small long from 1254 to 1260, no more longs for the time being
  • #9,877
  • Jun 10, 2014 10:29am Jun 10, 2014 10:29am
Quoting weti
I have the number 1490 stuck in my head for golds peak this year, honestly I thought we would go lower as well to at least 1235 but the summer isn't over yet. Must be patient and wait for a perfect entry to load more long positions. Im sitting on some small longs @ 1245's.
Even I'm awaiting June-End to load more longs, would add in July from deep dips, lets see how things unfold.

Time to call it a day!
Hello World!
  • #9,878
  • Jun 10, 2014 10:29am Jun 10, 2014 10:29am
Quoting elbert3
{quote} hi were doing well looking to get higher to 68 or more 89 would be amazing ??{image}
hello sir..can you share this indicator?


http://my.jetscreenshot.com/6252/m_2...-gjnx-23kb.jpg
  • #9,879
  • Edited 10:58am Jun 10, 2014 10:42am | Edited 10:58am
Quoting elbert3
{quote} hi were doing well looking to get higher to 68 or more 89 would be amazing ??{image}
That seems reasonable, yes. But first I expected a retracement back to the 1254 area. We need to wait and see whether gold will close above or below 1260.

What are your thoughts on this?

Best regards,

Frietzak
  • #9,880
  • Jun 10, 2014 11:51am Jun 10, 2014 11:51am
Quoting kinspk
{quote} Agreed with you too. I am still biased to the downside near 1240 region, but on the other hand, taking in consideration it may correct and change direction for a bull. Below is a daily chart, showing the longer term bottom trendline still intact, and it resemble a bull flag as well. That explains the contradiction clashes in my head. Good luck to you too. {image}
The 1240 region had reached and turned. Lets see how it react to the top channel to confirm the trend upwards or continue the downtrend.
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