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Only Gold!

  • #13,601
  • Aug 7, 2014 2:16am Aug 7, 2014 2:16am
Why should it work for even sometime? Its not supposed to work in first place, period.

Its practically a disaster for a noob, sometimes even for an expert. You should not even dream of this thing to work out right. Let alone making a killing. Hope this helps..

Quoting Goldglobal
How can one justify buying and selling at the same! that is not trading it is called gambling. It will work for sometime then it will finally crash. With experience you expect traders to use fundamental and technical analysis to take a trade and not buying and selling at the same time. In terms of prediction/technical analysis SELCUKLU was spot on for the below analysis and i would really like to learn from him. I do not want to be gambler. http://www.forexfactory.com/showthre...26397&page=674
Hello World!
  • #13,602
  • Aug 7, 2014 2:23am Aug 7, 2014 2:23am
Quoting Catempire
{quote} Kiwi - very nice charts and outlook. can you recommend the best books/place to learn magnetic line trading?
Hi Catempire... Just go to the thread & check it out...
http://www.forexfactory.com/showthread.php?t=480208
Money Makes Money
  • #13,603
  • Aug 7, 2014 2:27am Aug 7, 2014 2:27am
Gold showing intetnions to attack 1240's lows...
69
  • #13,604
  • Aug 7, 2014 2:27am Aug 7, 2014 2:27am
Nice stop hunting. Anyone caught?

Attached Image
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #13,605
  • Aug 7, 2014 2:28am Aug 7, 2014 2:28am
7 short position from 1308 TP @ 1302 !!

Come on!!! Test the Pivot and we will go LONG!
  • #13,606
  • Aug 7, 2014 2:30am Aug 7, 2014 2:30am
Quoting Goldglobal
How can one justify buying and selling at the same! that is not trading it is called gambling.
I asked CT similar questions, actually he's hedging (=locking) PROFIT he gets from some of his longs by placing shorts.
Something like "temporary take profit".
While impossible on real market (short with 1 lot means closing 1 lot from long position), this is possible with MT4's virtual markets.
I think it's all matter of COMFORT and habits. Since he's comfortable with that and plays this technique on his fingers - why not?
  • #13,607
  • Aug 7, 2014 2:32am Aug 7, 2014 2:32am
Quoting actorial
7 short position from 1308 TP @ 1302 !! Come on!!! Test the Pivot and we will go LONG!
Why.??
Money Makes Money
  • #13,608
  • Aug 7, 2014 2:33am Aug 7, 2014 2:33am
Quoting heispark
Previous Weekly High and Weekly R1 above are strong resistences. It looks it would retest Monthly Pivot below at least and then perhaps it's ll be stuck on around 70 pips range in-between until U.S. news release... Pending stop oders beyond this range before news release can be a decent trading plan today. {image}
Monthly Pivot retested. What's next??

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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #13,609
  • Aug 7, 2014 2:34am Aug 7, 2014 2:34am
Quoting Super_Mario
{quote} I asked CT similar questions, actually he's hedging (=locking) PROFIT he gets from some of his longs by placing shorts. Something like "temporary take profit". While impossible on real market (short with 1 lot means closing 1 lot from long position), this is possible with MT4's virtual markets. I think it's all matter of COMFORT and habits. Since he's comfortable with that and plays this technique on his fingers - why not?
Mario, a friend of mine here is a sub-broker, all the time he keeps wondering.... dude, these are same prices, they keep coming over and over again.

Almost every time I meet him, he says, "seeee these are same prices, they keep repeating" :-) I hope I conveyed my point ;-)
Hello World!
  • #13,610
  • Aug 7, 2014 2:41am Aug 7, 2014 2:41am
Quoting ClockTrader
seeee these are same prices, they keep repeating
That's why I never short this metal
  • #13,611
  • Aug 7, 2014 2:43am Aug 7, 2014 2:43am
Quoting ClockTrader
{quote} Mario, a friend of mine here is a sub-broker, all the time he keeps wondering.... dude, these are same prices, they keep coming over and over again. Almost every time I meet him, he says, "seeee these are same prices, they keep repeating" :-) I hope I conveyed my point ;-)
There is another fella named "Waleed" here, he too could understand my point without me explaining to him. Like he said, there is a 80% probability that the price shall be repeated. So, why even use SL? lolz

Better respect MM like your Mom and go with the PA flow..
Hello World!
  • #13,612
  • Aug 7, 2014 2:47am Aug 7, 2014 2:47am
Quoting Super_Mario
{quote} That's why I never short this metal
Pick a few currency pairs of your choice + Gold. Now change the time frame to Annual, the trend is simple and clear. You may see some bumps in Gold's bull nature. Now switch to Golden Seasons....

What you will see is a simple and open secret.... People just want to complicate things, but, I would not.... I would not get carried away by news which may be right or wrong, I don't care.... I have my own fundamentals, proven mathematically, I'll follow them and make money.
Hello World!
  • #13,613
  • Aug 7, 2014 2:53am Aug 7, 2014 2:53am
Quoting ClockTrader
People just want to complicate things
People want QUICK money and A LOT of money. Annual is too long for most.
But trading aint sprint, it's MARATHON
  • #13,614
  • Aug 7, 2014 2:56am Aug 7, 2014 2:56am
Quoting Likerty
Gold showing intetnions to attack 1240's lows...
Also there is a possibility of 1315/20 to be revisited, which is the last level for bearish play
69
  • #13,615
  • Aug 7, 2014 2:57am Aug 7, 2014 2:57am
Quoting Super_Mario
{quote} I think it's all matter of COMFORT and habits. Since he's comfortable with that and plays this technique on his fingers - why not?
I think that is the key sentence here...

And there is a lot of sense in what CT is doing; as long as ones lot size is very small and they slowly accumulate...

Ct is right in saying that prices come back... MARKets range 70-80% of the time and trend 20 to 30%; Hence CT will find his levels 80% of the time...

Yes he will get into trouble 20% of the time if the market starts trending think back (2008-2011) but then again he is biased long and doesn't sell his longs (which can be seen as an insurance) for the upside...

Nothing is fool proof! everything and every system has a weakness... CT is "comfortable" with this and it works for him so as you said "why not"

however I will not advise "New traders" to trade in this way; and they should stick to a Risk/reward level of trading (many reasons for this; depends on your capital size, how much you want to expect from the market etc) . You are also right in saying that mt4 allows this method of trading... I primarily trade "futures" contracts which have an expiry date; so I i really can't do this.
  • #13,616
  • Aug 7, 2014 3:05am Aug 7, 2014 3:05am
Returning back to yellow metal.
This is yesterday's situation :
Attached Image (click to enlarge)
Click to Enlarge Name: gold_crazy_sell.png Size: 38 KB

Yesterday we reached that point where things get simple
Who sold gold ~1.6 billon US$ worth during yesterday's session?
Who managed to sell this large amount, not only WITHOUT DROPPING price, but even with some significant price increase?
Answering this question correctly will give you profit for rest of the year.
  • #13,617
  • Aug 7, 2014 3:06am Aug 7, 2014 3:06am
For these very reasons, I request people to use SL and respect MM in the very first post of this thread.

Quoting waleed.khan
{quote} I think that is the key sentence here... And there is a lot of sense in what CT is doing; as long as ones lot size is very small and they slowly accumulate... Ct is right in saying that prices come back... MARKets range 70-80% of the time and trend 20 to 30%; Hence CT will find his levels 80% of the time... Yes he will get into trouble 20% of the time if the market starts trending think back (2008-2011) but then again he is biased long and doesn't sell his longs (which can be seen as an insurance) for the upside... Nothing is fool proof!...
Hello World!
  • #13,618
  • Aug 7, 2014 3:07am Aug 7, 2014 3:07am
I guess they are insiders. Did you know that Obama is a Billionaire? If I'm not wrong he made this fortune from stocks. Gosh! he is such a smart trader, I didn't even know.. lolz

Quoting Super_Mario
Returning back to yellow metal. This is yesterday's situation : {image} We reached that point where things get Who sold gold ~1.6 billon US$ worth during yesterday's session? Who managed to sell this large amount, not only WITHOUT DROPPING price, but even with some significant price increase? Answering this question correctly will give you profit for rest of the year.
Hello World!
  • #13,619
  • Aug 7, 2014 3:29am Aug 7, 2014 3:29am
Added 4 shorts @ ~1303

PS: Later in the US session or before that I might want to sacrifice the profit I took by closing 2 green longs (in Asian session) IF it can climb way higher above 1309
Hello World!
  • #13,620
  • Aug 7, 2014 3:36am Aug 7, 2014 3:36am
@ClockTrader

what is your MT4 or MT5 name, i like to see you account status so that i can subscribe to your signal.

kindly treat as urgent.

I simply trade MACD, RSI and CCI on smaller time frames 5mins , 15mins however i find it very difficult to predict the actual bull or bear
thus i take profit too very soon or get stopped by stop loss.
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