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Only Gold!

  • #14,501
  • Aug 15, 2014 11:37am Aug 15, 2014 11:37am
Quoting wafiqsalameh
the problem is im not interested of reading to learn something......hahahaha ,i dont want to learn anymore hahahahaa

If you said that to me 20 years ago... I would say you might have a point! ( As Pit/floor trading psychology needs no books) just experience...

but in this day and age...you have to know everything (know your enemy)...

This has become a business of nerds...where the smartest minds are working in this field...Furthermore now you have computers going against you too.. One has to constantly keep learning and improving if they want to survive in this business!
  • #14,502
  • Aug 15, 2014 11:38am Aug 15, 2014 11:38am
nothing is holdin gold,backing for test in 15minutes chart
  • #14,503
  • Aug 15, 2014 11:41am Aug 15, 2014 11:41am
Quoting ClockTrader
{quote} Just because of the high leverage Forex offers, traders begin to take it as an opportunity to get rich overnight. Once in, it becomes addiction. People reach a stage where they are willing to lose money in order to learn, fair & square, but poor maths sucks. I have drained loads of my pocket money in learning. Initial years were a disaster. All these lessons came hard way, but, I suppose they were worth. Just added a short Net: 10 shorts now.. God bless all! Wish you all a nice and green weekend.
I am reaching one year of trading in november, and I can say I have already learned a lot of lessons, but the one that sticks out the most is MM. If someone is starting out today this will be the only advice I would stress the most over and over again. overall i am profitable thus far, but it could be much much better if I had respected MM from the get go.
  • #14,504
  • Aug 15, 2014 11:42am Aug 15, 2014 11:42am
Quoting waleed.khan
{quote} If you said that to me 20 years ago... I would say you might have a point! ( As Pit/floor trading psychology needs no books) just experience... but in this day and age...you have to know everything (know your enemy)... This has become a business of nerds...where the smartest minds are working in this field...Furthermore now you have computers going against you too.. One has to constantly keep learning and improving if they want to survive in this business!

i agree with you brother,but what happen when you get to the point that what they write for you is not the right thing most the time,after you experiencing thing you come up with conclosions that against what they write,so what you do then
  • #14,505
  • Aug 15, 2014 11:43am Aug 15, 2014 11:43am
Quoting wafiqsalameh
{quote} nothing wrong with not understanding my writing,in the usa people see it hard to understand an indian speaking english in indian accent,its all good
You are right about that! For your information, some of my school teachers and the principal were Caucasian with English as their mother tongue. Regardless of all this, reading and writing skills in English of a person also depend on factors like your education, social background, where you live etc. Good or bad English here is a secondary thing, first thing is good trading skills with good MM.

I know I am good, catch up with you all next week!
Hello World!
  • #14,506
  • Aug 15, 2014 11:47am Aug 15, 2014 11:47am
testing the 1304.23,on 15 min chart
  • #14,507
  • Aug 15, 2014 11:48am Aug 15, 2014 11:48am
Quoting wafiqsalameh
testing the 1304.23,on 15 min chart
Yes...and I hope it retests 1300...cause I am adding more longs.
"The market can remain irrational longer than you can remain solvent"
  • #14,508
  • Aug 15, 2014 11:51am Aug 15, 2014 11:51am
Quoting wafiqsalameh
{quote} i agree with you brother,but what happen when you get to the point that what they write for you is not the right thing most the time,after you experiencing thing you come up with conclosions that against what they write,so what you do then

http://en.wikipedia.org/wiki/Fallibilism

Read up on this... It's something that opened my eyes and developed my view point of thinking. I discovered this while researching "George Soros".

to be biased is part and parcel of human nature...but a good trader is the one who is "fair in judgement" by trying to be open minded most of the time... (its a state of mind)
  • #14,509
  • Aug 15, 2014 11:51am Aug 15, 2014 11:51am
first test and good place to buy
  • #14,510
  • Aug 15, 2014 11:52am Aug 15, 2014 11:52am
Silver acting pretty pathetic but it should ice up sooner or later…. by next week we should see some nice strength. I should just turn off the charts and let this one run.. next week will be very nice to buy any dips on both gold-silver imo.
  • #14,511
  • Aug 15, 2014 11:57am Aug 15, 2014 11:57am
Quoting Ck87
Silver acting pretty pathetic but it should ice up sooner or later…. by next week we should see some nice strength. I should just turn off the charts and let this one run.. next week will be very nice to buy any dips on both gold-silver imo.

I have my reservations against silver...Even though it might move with gold in this run...

*At some point* it's going to get confused and have an identity crisis for a while*
  • #14,512
  • Aug 15, 2014 12:00pm Aug 15, 2014 12:00pm
I respect my mom and MM but I don't go to church and I can't resist breaking the rules once in a while, like today.
My humble apologies
  • #14,513
  • Aug 15, 2014 12:05pm Aug 15, 2014 12:05pm
Quoting waleed.khan
{quote} I have my reservations against silver...Even though it might move with gold in this run... *At some point* it's going to get confused and have an identity crisis for a while*
Yeah.. should probably stick with gold.
  • #14,514
  • Aug 15, 2014 12:05pm Aug 15, 2014 12:05pm
Quoting anton.olff
{quote} Yes...and I hope it retests 1300...cause I am adding more longs.

Do you think/feel Russia is going to retaliate?
  • #14,515
  • Aug 15, 2014 12:14pm Aug 15, 2014 12:14pm
Have a nice week end every one was a very good week for me 73% return it was good truly
have anice week end all and good green for every one (",)
all trades on the trader explorer (",)
so every one can see
have a great week end every one (",)
Senior Trader Multi-Account Manager
  • #14,516
  • Aug 15, 2014 12:18pm Aug 15, 2014 12:18pm
Quoting anton.olff
{quote} I think the Fed will raise interest rates...if only to save the USD and ward off or stall the almost inevitable end to U.S. dominance. It will crash the economy, but hey, the Fed tends to do that when the political pendulum swings and Republicans are slated to take turns with the Democrats (Coke and Pepsi).

Interesting perspective...

I feel; the Fed will raise interest rates eventually; but just see the state of Europe (negative rates); Japan is now contracting also... The Usd is going to rise anyway for some time now.

Inflation is well below expectations...anything that can keep the economy going up; the fed will do at least till the end of the year to mid 2015.

Geopolitically Obama is being ridiculed for not taking an active part in global affairs... Hillary recently ridiculed him too...I can just hear the main theme of the next elections primaries (democracts & republicans wanting more geopolitical involvement <global power is a drug>) This has unfortunately created a power vacuum which is now being filled... ISIS is just the start of this... I think things could get a lot worse!

*maybe europe is far from the point of recovery* and needs a war to jump start its economy... who knows? I've started feeling that Putin is being provoked into a war*
  • #14,517
  • Aug 15, 2014 12:26pm Aug 15, 2014 12:26pm
Quoting waleed.khan
{quote} I have my reservations against silver...Even though it might move with gold in this run... *At some point* it's going to get confused and have an identity crisis for a while*

Hahaha silver gets sold back down to lows while gold is $12 higher from lows, it's really something else what goes on in the silver market.
  • #14,518
  • Aug 15, 2014 12:33pm Aug 15, 2014 12:33pm
Quoting Ck87
{quote} Hahaha silver gets sold back down to lows while gold is $12 higher from lows, it's really something else what goes on in the silver market.

Gold is still not in the clear too (back under the 8ema)...

However even though silver is more volatile (hence more profitable than gold...might even outperform gold in the long run)...

The fact is that its lost between a safe haven and an industrial metal which makes me skeptical and also on the larger time frame charts it has to complete its waves; before breaking free.
  • #14,519
  • Aug 15, 2014 12:37pm Aug 15, 2014 12:37pm
Quoting waleed.khan
{quote} Gold is still not in the clear too (back under the 8ema)... However even though silver is more volatile (hence more profitable than gold...might even outperform gold in the long run)... The fact is that its lost between a safe haven and an industrial metal which makes me skeptical and also on the larger time frame charts it has to complete its waves; before breaking free.
Yes understood. i do think it's probably bottomed today but either way I feel a lot more secure with gold.
  • #14,520
  • Aug 15, 2014 12:40pm Aug 15, 2014 12:40pm
Quoting Ck87
{quote} Yes understood. i do think it's probably bottomed today but either way I feel a lot more secure with gold.

Agreed.. Golds daily chart looks a lot better... I really think it has bottomed out at 1280... and the fact that it has (so far) held above 1290 proves ( as per elliott rules of 4th wave not entering into the price territory of wave 1) that the elliott wave structure is still in play and will take it to 1400+ in the coming days and weeks...
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