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  • #13,621
  • Aug 7, 2014 3:38am Aug 7, 2014 3:38am
Quoting ClockTrader
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 {quote}
YAHOO ANSWERS says:

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Anyway, I remember he recommanded people buy stocks when S&P collapsed below 900 several years ago. I should've listened to him.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #13,622
  • Aug 7, 2014 3:38am Aug 7, 2014 3:38am
This is my area of concern for the sessions ahead..

My longs will begin to blow up below 1291 but, I doubt its going that deep....
Attached Image
Hello World!
  • #13,623
  • Aug 7, 2014 3:44am Aug 7, 2014 3:44am
Quoting heispark
{quote} YAHOO ANSWERS says: {image} Anyway, I remember he recommanded people buy stocks when S&P collapsed below 900.
There was a legal investigation conducted right before the last elections when he ran for President. The investigation was conducted apparently on behest of Republicans. It was doubted that he is a Billionaire, he showed some stock for all the money he owns (in white). Needless to say he came out clean, none of us knows what happens behind the curtains.

There are many things I could quote about his mis-deeds, but, that all would be way off the topic. Almost all politicians are alike, they are all dirty....
Hello World!
  • #13,624
  • Aug 7, 2014 3:45am Aug 7, 2014 3:45am
Quoting Goldglobal
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.
Have you ever considered trading the larger time frames? (1hr, 4hr, daily & weekly). The latter ones are much more predictable and you will not get stopped out too much...

Small time frames are too choppy and are very fast (IMO)...

If you are "learning"; take an example of a car; does one learn how to drive by driving fast or slow? likewise the larger times frames are slow and hence a good 'work ground' for every trader!

Good luck!
  • #13,625
  • Aug 7, 2014 3:47am Aug 7, 2014 3:47am
Quoting Goldglobal
@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.
Firstly, I don't sell signals (not anymore)
Secondly, I don't use MT4. (Its a java based trading platform)

PS: The positions you see are from a client's (friend) account that I manage. Of course I share here with his permission
Hello World!
  • #13,626
  • Aug 7, 2014 3:48am Aug 7, 2014 3:48am
Quoting waleed.khan
{quote} Have you ever considered trading the larger time frames? (1hr, 4hr, daily & weekly). The latter ones are much more predictable and you will not get stopped out too much... Small time frames are too choppy and are very fast (IMO)... If you are "learning"; take an example of a car; does one learn how to drive by driving fast or slow? likewise the larger times frames are slow and hence a good 'work ground' for every trader! Good luck!
This could not be explained any better.
Gagz
  • #13,627
  • Aug 7, 2014 3:49am Aug 7, 2014 3:49am
Quoting ClockTrader
This is my area of concern for the sessions ahead.. My longs will begin to blow up below 1291 but, I doubt its going that deep.... {image}

Any new trader should take caution and protect his account especially on trading gold its such a beasty pair have seen days where it moved 130usd in 1min during US Session .

Don't get carried way by clocktrader way of working, its his style & expertise he knows what he is doing on his Avatrade java platform with small exposure and no SL to add to that he has strong conviction that Gold has to be accumulated after June for festive season and sell during Jan and retain some etc..

If you are daytrader "trend is your friend till it bends" just follow the chart and take trades with SL ,try to formulate a trading strategy to work like CT did to work for you in certain hours per day . You need not slog all the time , trade for 1-4 hours (most volatile hours during london-US Session overlap) and make it count!
Scoobi doobi doo
  • #13,628
  • Aug 7, 2014 3:54am Aug 7, 2014 3:54am
Quoting Super_Mario
Answering this question correctly will give you profit for rest of the year.
Im stumped.. all ears

Is that OBV you use? how do you know how to read # of contracts sold/ bought
  • #13,629
  • Aug 7, 2014 4:10am Aug 7, 2014 4:10am
Quoting ClockTrader
{quote} There was a legal investigation conducted right before the last elections when he ran for President. The investigation was conducted apparently on behest of Republicans. It was doubted that he is a Billionaire, he showed some stock for all the money he owns (in white). Needless to say he came out clean, none of us knows what happens behind the curtains. There are many things I could quote about his mis-deeds, but, that all would be way off the topic. Almost all politicians are alike, they are all dirty....

I remember that too , Obama came on CNBC and said no need to panic when dowjones was at 8000 that point of time and said he is investing personally at this point in the hope of america's revival.

After that Jim Cramer (booyah) Mad Money Show guy was the first one to recommend to buy saying if Mr President can long markets why not us sort of, rest of the paid analysts where saying dow to touch 5000 and s&p 500 and spread panic , good memories CT!
Scoobi doobi doo
  • #13,630
  • Aug 7, 2014 4:18am Aug 7, 2014 4:18am
Dear Waleed.Khan


thank you for your response and answers most especially your analogy.


the main problem i have with the larger time frames e.g 4hours and daily frame is that
i find it very difficult to align my indicators to get a good interpretation. for example yesterday my indicators gave me a buy signal.

but demand and supply as in the number of longs to short actually showed a sell signal.

it gets more complicated with the larger time frames.

I will appreciate your advise and critics!!!!!!!!!!!!!!!!!!!!
  • #13,631
  • Aug 7, 2014 4:33am Aug 7, 2014 4:33am
Quoting Scoobidoobi
{quote} I remember that too , Obama came on CNBC and said no need to panic when dowjones was at 8000 that point of time and said he is investing personally at this point in the hope of america's revival. After that Jim Cramer (booyah) Mad Money Show guy was the first one to recommend to buy saying if Mr President can long markets why not us sort of, rest of the paid analysts where saying dow to touch 5000 and s&p 500 and spread panic , good memories CT!

was this also during the time when Buffett became popularized/politicized...buying bank of america for like 2 to 6 buck a share or something?
  • #13,632
  • Aug 7, 2014 4:35am Aug 7, 2014 4:35am
Quoting Goldglobal
Dear Waleed.Khan thank you for your response and answers most especially your analogy. the main problem i have with the larger time frames e.g 4hours and daily frame is that i find it very difficult to align my indicators to get a good interpretation. for example yesterday my indicators gave me a buy signal. but demand and supply as in the number of longs to short actually showed a sell signal. it gets more complicated with the larger time frames. I will appreciate your advise and critics!!!!!!!!!!!!!!!!!!!!
I am not a pro, but had been trading forex for a good 5 years?

Longer TF is definitely better as you can respond to the market better.

Regards to the indicators you mentioned, keep trading simple, as trading IS simple, we complicated it by adding too much "technique".

Above are what I had learned in the hard way through the years.

One more thing, Longer TF give you lesser Heartattack

Just sharing my humble opinion.
  • #13,633
  • Aug 7, 2014 4:36am Aug 7, 2014 4:36am
here is h4 labels for gold .. i expect a little pullback bottoming under 1300 level then up move
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  • #13,634
  • Aug 7, 2014 4:36am Aug 7, 2014 4:36am
Gold likely to re-test $1297 (horizontal line and the confluence of 20-EMA and 40-EMA). However, a break of $1310 can fuel it towards $1321.
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  • #13,635
  • Aug 7, 2014 4:37am Aug 7, 2014 4:37am
Quoting actorial
7 short position from 1308 TP @ 1302 !! Come on!!! Test the Pivot and we will go LONG!

All closed in green!! SWEET!!

Go Gold Go! Long live the Gold! Long Long Long!!

* sorry for the over excitement
  • #13,636
  • Aug 7, 2014 4:38am Aug 7, 2014 4:38am
@ actorial


as you said keep it simple! so what indicator do you recommend for larger TF
  • #13,637
  • Aug 7, 2014 4:42am Aug 7, 2014 4:42am
Quoting Goldglobal
@ actorial as you said keep it simple! so what indicator do you recommend for larger TF
My indicator list are:

233 EMA ( Bar above buy, below sell ) <= subjective
12, 26, 9 MACD ( line above bar sell, vice versa )
Trendline Drawn by myself
Support and Resistant lines marked by myself

Thats all I use go with the statistic.

Below is Daily, I trade with 4hr usually

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  • #13,638
  • Aug 7, 2014 4:47am Aug 7, 2014 4:47am
Quoting waleed.khan
{quote} was this also during the time when Buffett became popularized/politicized...buying bank of america for like 2 to 6 buck a share or something?

exactly he bought bank of america , wells fargo all those stocks dead cheap . he was politicized for association with Fed/Obama Govt in making sure shot calls that time!
Scoobi doobi doo
  • #13,639
  • Aug 7, 2014 5:04am Aug 7, 2014 5:04am
Quoting Goldglobal
Dear Waleed.Khan thank you for your response and answers most especially your analogy. the main problem i have with the larger time frames e.g 4hours and daily frame is that i find it very difficult to align my indicators to get a good interpretation. for example yesterday my indicators gave me a buy signal. but demand and supply as in the number of longs to short actually showed a sell signal. it gets more complicated with the larger time frames. I will appreciate your advise and critics!!!!!!!!!!!!!!!!!!!!
Hi Goldglobal

No problem...

I really don't know how new you are to trading? but if somebody advised you to only trade/scalp the lower time frames and gave you a strategy based solely on oscillators then I would suspect it is your broker or some broker associated website...

RSI, CCI, macd are are all oscillators (they primarily show the same information) which are all "lagging" indicators'; that is to say they should be used as a confirmation and in identifying potential support & resistance areas...why don't you research "leading" indicators like price action and simple support and resistance trading etc?

Look there are many ways to trade and this really isn't a teaching thread...one typically should find their own path by trying various things and see what works for them... I am a firm believer that successful trading is more about mastering "your own self" rather than any particular system. How do you master your "own self"? That will only happen with making and correcting the mistakes that you make; and the "market experience" that you gain...(one should always keep a scientific and open mind)

I've been there and do understand what you are saying in regards to "tweaking" your indicators for the right time frame... I've spent countless hours dabbling over the "magic number setting" that will allegedly make it all right -- i can tell you with assurance that there is no holy grail. If somebody tells you that there is - then that is due to the fact that person has found what works for them and adjusted accordingly but that does not neccessarily mean it will work for someone else. I hope that made sense?
  • #13,640
  • Aug 7, 2014 5:17am Aug 7, 2014 5:17am
Quoting Scoobidoobi
{quote} exactly he bought bank of america , wells fargo all those stocks dead cheap . he was politicized for association with Fed/Obama Govt in making sure shot calls that time!

LOL! That was a ploy by the government to give Americans confidence again..."by asking the greatest investor on earth" to buy the bank that should have gone broke! And it sure worked!

The oracle of Omaha...is truly an oracle (self fulfilling prophecy!)
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