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  • #11,301
  • Jul 10, 2014 6:32am Jul 10, 2014 6:32am
Quoting waleed.khan
{quote} Hey man... long time? Well I got triggered a couple of hrs ago at 1331 break... I was actually expecting price to retrace a little lower... but yeah i guess 1327-1333 has to really hold for it to go higher...
Yeah I been super busy at work, so still trading, just not much time for FF...

I also think that it could/should retrace more, but am just a bit concerned that there will be loads of buyers, itchy for a re-entry who might prevent it going down further.... if we even get down there!
  • #11,302
  • Jul 10, 2014 6:36am Jul 10, 2014 6:36am
Quoting samalmoore
{quote} Hey Waleed, good morning to you too! I trust you also made some monies off of the up move? I'm hoping it will find support around 1333 (put in a sneaky short at 1342 tp 1332.7)
What's your SL?
  • #11,303
  • Jul 10, 2014 6:38am Jul 10, 2014 6:38am
Quoting samalmoore
{quote} Yeah I been super busy at work, so still trading, just not much time for FF... I also think that it could/should retrace more, but am just a bit concerned that there will be loads of buyers, itchy for a re-entry who might prevent it going down further.... if we even get down there!

Well being super busy is always a good sign...

I agree completely; there probably will be many buyers wanting to jump in and prevent it to go down further (hence I suspect a sideways correction/pause) and then up to 1370 161.8 fib ext level...

But lets see what happens though... would be good either way I hope the days of $5 dollar daily moves are long past us now!
  • #11,304
  • Jul 10, 2014 6:40am Jul 10, 2014 6:40am
Quoting richtrader
{quote} What's your SL?
Around 1345, I don't actually use a stop loss, I make small deposits (£15-£30) and trade with very high leverage (888:1), and either wait for profit or bust (unless it looks like it will turn soon in which case I may make another small deposit)
  • #11,305
  • Jul 10, 2014 6:47am Jul 10, 2014 6:47am
Quoting waleed.khan
{quote} Well being super busy is always a good sign... I agree completely; there probably will be many buyers wanting to jump in and prevent it to go down further (hence I suspect a sideways correction/pause) and then up to 1370 161.8 fib ext level... But lets see what happens though... would be good either way I hope the days of $5 dollar daily moves are long past us now!
Too true man, I think we will get a clear indication of what the market wants to do in about 45 minutes once the US market opens and the opening noise dies down

Bigger moves sounds good to me too!!!
  • #11,306
  • Jul 10, 2014 6:47am Jul 10, 2014 6:47am
Quoting samalmoore
{quote} Around 1345, I don't actually use a stop loss, I make small deposits (£15-£30) and trade with very high leverage (888:1), and either wait for profit or bust (unless it looks like it will turn soon in which case I may make another small deposit)
thats a 'all money on black' style

is fine when its just a hobby...its a no go when it comes to make a living out of it

GL!
fokyou forexfactory
  • #11,307
  • Jul 10, 2014 6:47am Jul 10, 2014 6:47am
Quoting samalmoore
{quote} Around 1345, I don't actually use a stop loss, I make small deposits (£15-£30) and trade with very high leverage (888:1), and either wait for profit or bust (unless it looks like it will turn soon in which case I may make another small deposit)
which broker give the high leverage?
Investing is SIMPLE but NOT EASY
  • #11,308
  • Jul 10, 2014 6:52am Jul 10, 2014 6:52am
Quoting Moly_Cam5
{quote} which broker give the high leverage?
I use XM.com , be warned though high leverage means your money can evaporate in seconds!!!

They also give a 30% deposit bonus on all desposits - nice guys
  • #11,309
  • Jul 10, 2014 6:55am Jul 10, 2014 6:55am
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locked in at 1340 from 1328,lets se if it breaks that high before any retrace ,if it does move the pp to the high i think
  • #11,310
  • Jul 10, 2014 6:55am Jul 10, 2014 6:55am
let's now bring this yellow metal deeeepppp swiimmm...
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Keep calm and go GREEN...
  • #11,311
  • Jul 10, 2014 6:56am Jul 10, 2014 6:56am
Quoting samalmoore
{quote} I use XM.com , be warned though high leverage means your money can evaporate in seconds!!! They also give a 30% deposit bonus on all desposits - nice guys
Nice guys will rape you as soon as you have good balance ... be aware
  • #11,312
  • Jul 10, 2014 6:57am Jul 10, 2014 6:57am
Quoting DNTme
{quote} thats a 'all money on black' style is fine when its just a hobby...its a no go when it comes to make a living out of it GL!
I hear what you're saying and agree up to a point. The real difference though is that I'm not putting all my money on black because I will never deposit all my money, rather I'm saying that I am willing to risk x amount on this trade, and only depositing that much.

I am actually having fairly good results lately using this technique and I do hope to make this my main income in the not-too-distant future.

They say that each person must find the style of trading that suits him best, and I found that when I would deposit large amounts, I would inevitably end up moving my SL and wiping myself out anyway.

I do appreciate your fair comments but I do think I'm onto a system that works for me
  • #11,313
  • Jul 10, 2014 7:00am Jul 10, 2014 7:00am
Quoting Abdulaziz_D
{quote} Nice guys will rape you as soon as you have good balance ... be aware
I also then withdrawal my balance after each win, make another small deposit, and start again
  • #11,314
  • Jul 10, 2014 7:03am Jul 10, 2014 7:03am
Quoting samalmoore
{quote} I hear what you're saying and agree up to a point. The real difference though is that I'm not putting all my money on black because I will never deposit all my money, rather I'm saying that I am willing to risk x amount on this trade, and only depositing that much. I am actually having fairly good results lately using this technique and I do hope to make this my main income in the not-too-distant future. They say that each person must find the style of trading that suits him best, and I found that when I would deposit large amounts, I would...
i've been trading for over 10 years now...and i can say i seen it all. or almost all.

myself i dont regard my balance (or equity) the way you are doing it.

I just trade using a cash stoploss. for example if im short now, i will allow myself to lose lets say 2500$. if i reach there i close manually. but again, if i reach there taking a loss, next trade i could do it having into consideration this loss. so i will be able to adopt again a 2500$ loss but this time with higher lotsize and better riskreward.

as you said, its just a matter of what suite you better after all.
fokyou forexfactory
  • #11,315
  • Jul 10, 2014 7:05am Jul 10, 2014 7:05am
Quoting nofirumi
let's now bring this yellow metal deeeepppp swiimmm... {image}

There are 3 ways I am seeing this wave...

Your wave (5) can possibly go straight up to 1360 or 1370 level...(wave 5's in commodities are usually the largest waves)

Or the 5th wave completed on 30 june... and a new wave cycle started on the 8th of july and could take us much higher...

or the 5th wave is about to end and we are going in for a major abc correction to 1280-1300 level...

I am more weighted to the first possibility!
  • #11,316
  • Jul 10, 2014 7:06am Jul 10, 2014 7:06am
My view on gold....

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  • #11,317
  • Jul 10, 2014 7:08am Jul 10, 2014 7:08am
xau usd
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  • #11,318
  • Jul 10, 2014 7:11am Jul 10, 2014 7:11am
As far as my opinion is concerned, the primary intention of NYMEX / GLOBEX is to move the price up, but, thats only possible when majority of weight is on the short side, at least 60%.

If they let Gold keep falling, Gold mines would cease, jewellery industry would vanish, in other words Gold will lose its shine which is not possible given hundreds of years of its track record. In India we say thousands of years.

When Bigger players buy / invest, that will only bring the price down, but, there are also banks with shorts in the tune of hundreds of tons, so its about right balance. Forex Gold is like Casino, one's profit has to come from someone's loss. Exchange can't pay investors out of its pockets.

Price will go where loads (majority) of SL are. IF loads of shorts are in the South, it can go sideways, or spike down and then bounce up in an hr/ day / week / month / year. At times, the price may go down so it can bounce, but, to only find loads of buyers there and price hanging in deep south for years.

Quoting Verve
{quote} Thanks CC, so its order levels that MMs see and they trade against them, somedays bigger players get involved like today and push price beyond the norm (just trying to understand this all better, the theory side) I realize pushing price is not easily done, its all about limits and orders, so basically bigger orders are sitting higher (could be SL or buy orders) so price accommodates .. or something like that.
PS: Found the edit button this time, weird!
Hello World!
  • #11,319
  • Jul 10, 2014 7:14am Jul 10, 2014 7:14am
Quoting DNTme
{quote} i've been trading for over 10 years now...and i can say i seen it all. or almost all. myself i dont regard my balance (or equity) the way you are doing it. I just trade using a cash stoploss. for example if im short now, i will allow myself to lose lets say 2500$. if i reach there i close manually. but again, if i reach there taking a loss, next trade i could do it having into consideration this loss. so i will be able to adopt again a 2500$ loss but this time with higher lotsize and better riskreward. as you said, its just a matter of what...
Hey DNTme, I fully appreciate what you are saying. I've been trading now for around 3 years and am finally starting to see profits, and I'm sure that once I am making profit consistently, I will evolve my trading style.

I think you just may be living my dream life, as I see you are located in Belize, and a full time trader. I would love to be able to live somewhere tropical and make a healthy income off of trading.

What I have learned up till now though is that I have VERY little self discipline so although I know that your way of trading is undoubtedly better, I am not yet ready to operate in that way. But at least I've started making money in the mean time

Thanks for the advice and insight.
  • #11,320
  • Jul 10, 2014 7:17am Jul 10, 2014 7:17am
Quoting ClockTrader
As far as my opinion is concerned, the primary intention of NYMEX / GLOBEX is to move the price up, but, thats only possible when majority of weight is on the short side, at least 60%. If they let Gold keep falling, Gold mines would cease, jewellery industry would vanish, in other words Gold will lose its shine which is not possible given hundreds of years of its track record. In India we say thousands of years. When Bigger players buy / invest, that will only bring the price down, but, there are also banks with shorts in the tune of hundreds of...
Correction:

> Price will go where loads (majority) of shorts are.

----> Price will go where loads (majority) of SLs are.

PS: Heck, now I can't see the edit button
Hello World!
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