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  • #12,761
  • Jul 30, 2014 8:16am Jul 30, 2014 8:16am
made 2.1% on that trap
  • #12,762
  • Jul 30, 2014 8:17am Jul 30, 2014 8:17am
Quoting Windstrown
lol i dont believe this gdp at all i'. sticking to the longs till the end of august now vacation time cya folks
Enjoy the vaycay, ill support your longs whilst your away.. send us a postcard

I caught the long at 1293, out at 1301, and now in again but at 1295
  • #12,763
  • Edited 8:56am Jul 30, 2014 8:19am | Edited 8:56am
Quoting Goldglobal
Sunny and ClockTrader! sorry i dont understand what you meant by know your maths? with respect to what exact if i may kindly ask? if you can explain very what you meant by the waves 3 and 5, i can come up with equations and best-fit curves that can further help the maths. I was born and breed in mathematics lol and am feeding my kids thru engineering mathematics thus i would like to understand your explanations very well so that I can employ further mathematical and statistics tools.
http://www.seykota.com/Tribe/risk/index.htm

That link might help! Ed Seykota (arguably the greatest systems trader ever)

I guess one can get away with understanding how the r multiple works... google van tharpe and r multiple (there is a lot of information on that which can help you with correct position sizing etc)
  • #12,764
  • Jul 30, 2014 8:24am Jul 30, 2014 8:24am
Quoting Chenko
{quote} I closed my short midway into the bullish spike and entered long and now I am in negative because the long was a fake.
I think that was the whole idea... to take out all of those people who entered the market in the 1300 area (and the spike down area) with very narrow stop losses...

Then they fooled the shorters with going the other way...amidst a steller gdp number!

Its fascinating/amusing how they operate...

*one should not day trade the news*
  • #12,765
  • Jul 30, 2014 8:25am Jul 30, 2014 8:25am
1298 if it reaches it....nice place to sell
  • #12,766
  • Jul 30, 2014 8:35am Jul 30, 2014 8:35am
well when the XAU/USD was just in the middle of the spike i decide to buy some XAG/USD from 20.69.
Then i realise that this is just a spike on the gold and add a sell lot on 1299.03
I think to do that way:
If the price of gold go Low like around 1270 i will close my Gold SL and will buy 100% of my current buy lot on the Silver position(depends of gold/silver ratio).
If the price of gold go High i will close it at around 1335-1340 with the silver position too.(depends of gold/silver ratio).
Average ratio for now is 63.
Gold price-1335(-270eur) -> 63-62 ratio - >Silver price -> 21.50-21-20((+150)-(+250) eur)
Gold price-1270(+215eur)-> 63-62 ratio -> Silver price -> 20.15-20.48 ((-150)-(-50)eur)
  • #12,767
  • Jul 30, 2014 8:36am Jul 30, 2014 8:36am
for those long term bulls doesn't a strong GDP and economic recovery this year strengthen your case? The fed ending QE and the increase of rates will be the result of a strong economy. When QE ends and the rates are increased, we all know what will happen to the stock market and inversely the precious metals.

I think we'll touch down to the 1280's and 20.20-30's before we rally for the fall months.
  • #12,768
  • Jul 30, 2014 8:38am Jul 30, 2014 8:38am
Quoting waleed.khan
{quote} I think that was the whole idea... to take out all of those people who entered the market in the 1300 area (and the spike down area) with very narrow stop losses... Then they fooled the shorters with going the other way...amidst a steller gdp number! Its fascinating/amusing how they operate... *one should not day trade the news*
Well, Waleed, this is what they do.... http://www.forexfactory.com/showthre...94#post2578194. Not bad I day trade myself major news.

  • #12,769
  • Jul 30, 2014 8:43am Jul 30, 2014 8:43am
Added a couple of longs @ 1295
Hello World!
  • #12,770
  • Jul 30, 2014 8:48am Jul 30, 2014 8:48am
If candle close below red line in 15 mins i will short it.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 57 KB
Neural Network Algorithm and Econophysics
  • #12,771
  • Edited 9:07am Jul 30, 2014 8:54am | Edited 9:07am
Quoting bernbeach
{quote} Well, Waleed, this is what they do.... http://www.forexfactory.com/showthre...94#post2578194. Not bad I day trade myself major news.
what is your win/loss ratio? I'm guessing it's close to 50/50? One can perhaps get away with it or build a strategy around trading the news but you must have sound MM rules...(I certainly wouldn't recommend new traders to trade the news)

Thanks for sharing the link!

*had a quick glance at the strategy* - 1 minute before the news (that involves guesswork). I have one news trading strategy; which works 5 minutes after the news and should only trigger if price movement is in line with expectation and doesn't retrace more than the 61.8 retracement level...(also it should trigger in the next 30 minutes or so)

I really don't use it much...
  • #12,772
  • Jul 30, 2014 9:05am Jul 30, 2014 9:05am
Ok short.. 1294 / TP@ 1278
Attached Image (click to enlarge)
Click to Enlarge Name: gold2.png Size: 40 KB
Neural Network Algorithm and Econophysics
  • #12,773
  • Jul 30, 2014 9:06am Jul 30, 2014 9:06am
Quoting Vigovski
If candle close below red line in 15 mins i will short it. {image}
Vigovski,
What is that trend indicator you have on the chart(dodgerblue and red squiggly line around the zero level)? How is it used? Can you attach or tell me where I can find it. Thank you mate.
  • #12,774
  • Jul 30, 2014 9:20am Jul 30, 2014 9:20am
Hi all !!!
The best thing that can happen to you is to find out where you're wrong.
  • #12,775
  • Jul 30, 2014 9:24am Jul 30, 2014 9:24am
Waiting 1287.
row row row your boat
  • #12,776
  • Jul 30, 2014 9:40am Jul 30, 2014 9:40am
Quoting Driver55
Good Evening all !!! For the record .... half of my short positions will be closed @1293.60 ( if we reach that level)
Well guys,
here we are...
....and I'm changed my plan....
....actually I'm flat .... waiting for my level to try a long position


P.S. : I changed my plan, because I see interesting levels of other financial instruments
The best thing that can happen to you is to find out where you're wrong.
  • #12,777
  • Jul 30, 2014 9:50am Jul 30, 2014 9:50am
S&P new lows for the week, this could be propping XAU up and well could make for a XAU spike upwards
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 21 KB
  • #12,778
  • Jul 30, 2014 9:52am Jul 30, 2014 9:52am
Hello all,

can anyone guide me how to and where to put a SL as i had margin call many times bcoz of no SL. Thanks in advance guys.
  • #12,779
  • Jul 30, 2014 9:52am Jul 30, 2014 9:52am
Haven't scalped gold for some time but looking at the 5min chart I see short term support at $1293.4 (until broken and closed) therefore long here to $1300 (next major short term resistance)
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 5M.png Size: 86 KB
To live a successful life, we must lose our fear of being wrong
  • #12,780
  • Jul 30, 2014 9:53am Jul 30, 2014 9:53am
Looking at USDJPY and USDCHF , I think gold will go lower than any body expected.

Just my opinion.
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