Only Gold! | Page 801 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Journal (only my take) 433 replies

Trading gold and silver only 59 replies

An idea for building wealth...using only gold 9 replies

GOLD traders only 90 replies

Attachments: Only Gold!
Exit Attachments

Only Gold!

  • #16,001
  • Sep 12, 2014 8:12am Sep 12, 2014 8:12am
Quoting AnilLonely
{quote} Thanks a lot for the information. I was holding longs which were taken at 1316. I am waiting for that price since 15 days.
Hi, I'll try to be constructive regarding your position.

I'm assuming you must be in deep drawdown at present, and accruing losses daily via swap costs.

That being the case, it would make sense to abandon your position now whilst funds are still available in your account.

The market could easily go much further south, especially if the current resistance zone that we are in is breached downwards.

So, my advice would be save what funds you have and then use some of them when this zone (1232-1240) has a clearer picture to offer you to allow sensible entries using whatever your prferred method is (assuming its robust enough that is).

It's up to you...but good luck either way
  • #16,002
  • Sep 12, 2014 8:19am Sep 12, 2014 8:19am
Quoting Landline
{quote} Hi, I'll try to be constructive regarding your position. I'm assuming you must be in deep drawdown at present, and accruing losses daily via swap costs. That being the case, it would make sense to abandon your position now whilst funds are still available in your account. The market could easily go much further south, especially if the current resistance zone that we are in is breached downwards. So, my advice would be save what funds you have and then use some of them when this zone (1232-1240) has a clearer picture to offer you to allow...
I concur, use a SL guys, this isn't guaranteed to go up, capital preservation is the most important element in trading.
"Where you want to be is always in control, never wishing, always trading.
  • #16,003
  • Sep 12, 2014 8:21am Sep 12, 2014 8:21am
Quoting Spec_And
{quote} I concur, use a SL guys, this isn't guaranteed to go up, capital preservation is the most important element in trading.
x 2 - live to trade another day!
  • #16,004
  • Sep 12, 2014 8:37am Sep 12, 2014 8:37am
im asking when will "golden seasons" work?
hope this happen before 6/2015 ..LOL
Investing is SIMPLE but NOT EASY
  • #16,005
  • Sep 12, 2014 8:39am Sep 12, 2014 8:39am
1232 hold for now... just closed my short with decent profit. Waiting for breaking through 1230...
Apprentice trader
  • #16,006
  • Sep 12, 2014 9:25am Sep 12, 2014 9:25am
I'm ready for $720/oz (2008's level) if there's enough bears
  • #16,007
  • Sep 12, 2014 9:41am Sep 12, 2014 9:41am
It's start to be so dramatic for me - i'm long from @1253 10 lots
Now i'm start to thinking about open 20 lots for short to protect my account;]
But still i have hope for big move to the north
  • #16,008
  • Sep 12, 2014 9:41am Sep 12, 2014 9:41am
Quoting Moly_Cam5
im asking when will "golden seasons" work? hope this happen before 6/2015 ..LOL

Golden season becomes irrelevant after 2012, Sept 2013 -to December 2013 gold sold off from high sept 1416 high to 1182 Dec low.

So Same Karma this years sell off begins in sept 2014 & ends in December 2015,

It will slowly crawl back starting January 2015 onwards, until reach peak (around 1400 level) during US Debt ceiling review in Feb-March 2015.

It's just my historical analysis, which i could be right...wait till December 31.
  • #16,009
  • Sep 12, 2014 9:46am Sep 12, 2014 9:46am
Quoting AnilLonely
{quote} Thanks a lot for the information. I was holding longs which were taken at 1316. I am waiting for that price since 15 days.
Sorry to hear that, i hope you could hold if price goes to 1200, worst case scenario.

Admire you for taking such a high calculated risk..
  • #16,010
  • Sep 12, 2014 9:46am Sep 12, 2014 9:46am
Quoting Spec_And
Downtrend lines steepening. {image}
Its going vertical now, I smell capitulation.
"Where you want to be is always in control, never wishing, always trading.
  • #16,011
  • Sep 12, 2014 9:49am Sep 12, 2014 9:49am
Quoting KamilM
It's start to be so dramatic for me - i'm long from @1253 10 lots Now i'm start to thinking about open 20 lots for short to protect my account;] But still i have hope for big move to the north
In your position I would open 5+5 lots to protect the long position and after that I would probably open smaller lots to scalp some pips.
But I would do this on a retrace, not now bc I wouldn't want to sell so low.
This is what I would do, don't take it as advice
  • #16,012
  • Sep 12, 2014 9:52am Sep 12, 2014 9:52am
Anyway thanks for your opinion - it's important for me .
  • #16,013
  • Sep 12, 2014 9:54am Sep 12, 2014 9:54am
Quoting KamilM
It's start to be so dramatic for me - i'm long from @1253 10 lots Now i'm start to thinking about open 20 lots for short to protect my account;] But still i have hope for big move to the north
Mate just my opinion but you are on the way to hell.. hope in the trading brought me to the very deep sh*t in the past.. Closing the underwater positions (which I just did) is not the most pleasant thing one can imagine to do but its better to preserve at least some funds you can later trade with than loose everything... Breaking 1240 (which we clearly did) means the direction for gold is very clear for now..
I am holding some long on AG but the multiyear SR is still holding there.. for now..
All the best!
Everything is gonna be OK at the end. If its not OK Its not the end
  • #16,014
  • Sep 12, 2014 9:55am Sep 12, 2014 9:55am
Quoting KamilM
It's start to be so dramatic for me - i'm long from @1253 10 lots Now i'm start to thinking about open 20 lots for short to protect my account;] But still i have hope for big move to the north
Wouldn't simply closing your position be an easier and less messy option. You can always re-open a position up or down then when conditions in your method become favourable to you I'd have thought
  • #16,015
  • Sep 12, 2014 9:56am Sep 12, 2014 9:56am
Quoting GreySkull
{quote} Sorry to hear that, i hope you could hold if price goes to 1200, worst case scenario. Admire you for taking such a high calculated risk..
Hmm. Not able to judge what to do now.
Though i was earning some $ from this down trend, i was not really able to hold these. While i was opening those deals the news was something like xau likely to hit 1340 zone. which went the opposite way. xau itself is showing me a loss of 135.

Hoping to see some good up-trend before things go worst.
  • #16,016
  • Sep 12, 2014 10:00am Sep 12, 2014 10:00am
Thanks friends!
I just leave job and going to home.. then i will looking at charts and try to make good decisions.
Your opinions clarify my point of view
  • #16,017
  • Sep 12, 2014 10:52am Sep 12, 2014 10:52am
Hi,

I am new member here. I am now holding a long from 1255 , now i am thinking what shall i do next , floating amount is reaching 15% from my capital . seeking advice from all master here.
  • #16,018
  • Sep 12, 2014 11:05am Sep 12, 2014 11:05am
Quoting AnilLonely
{quote} Hmm. Not able to judge what to do now. Though i was earning some $ from this down trend, i was not really able to hold these. While i was opening those deals the news was something like xau likely to hit 1340 zone. which went the opposite way. xau itself is showing me a loss of 135. Hoping to see some good up-trend before things go worst.
News...hmmm....its usually late to have any real relevance particularly on daily charts, smaller t/fs perhaps, but I dont let news influence my trading in general personally, because I use price, which is what really guides me and it has the news factored in throughout any given day, especially on longer t/fs as I said. Not only that, trying to keep abreast of all news activity must be a real head ache I would imagine.

What I would do (indeed have done and continue to do) is honestly assess your method and yourself.

If you know your method is sound yet you consistently lose, then you immediately know where the problem lies.

Use sensible MM priiciples which obviously includes using realistic S/L and T/P levels, as well as sensible position sizes.

I'm certain that so long as you have a reasonable strategy, then applying the simple suggestions will greatly improve your results, it cannot fail to.

Use the weekend to take a good hard look at where improvements can be made.

I hope these points have been taken in the spirit intended and good luck to you
  • #16,019
  • Sep 12, 2014 11:30am Sep 12, 2014 11:30am
XAG/XAU should appreciate until market close,
just hope we don't open the week with a gap down.

I don't hold xau/xag longs right now but,
I started holding platinum, palladium longs as I can see a price floor after todays USA news.

hope that pays off well,
have a nice weekend
  • #16,020
  • Sep 12, 2014 11:31am Sep 12, 2014 11:31am
Current @ 1233
Just closed a short lying @ 1309 in GREEN.

My stakes on longs been getting higher and higher in a very strong bearish climate.

NOW:
30 longs
13 shorts

NET: 17 shorts

Wish you all a great weekend!

PS: I hope to close all shorts in DARK GREEN within next 5 - 10 days.
Hello World!
6 traders viewing now