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  • #19,841
  • Nov 28, 2014 12:25pm Nov 28, 2014 12:25pm
Quoting banker19
did one other also have such spike on system?>>>
Now you sound like a funny newbie doing nothing but making noise here..

IF you do that again, I'll have no choice but to ignore.. PLEASE post your charts ASAP!
Hello World!
  • #19,842
  • Nov 28, 2014 12:26pm Nov 28, 2014 12:26pm
Quoting banker19
did one other also have such spike on system?>>>
No, sorry my friend I thought that you had a dream!
  • #19,843
  • Nov 28, 2014 12:29pm Nov 28, 2014 12:29pm
Quoting banker19
did one other also have such spike on system?>>>
This is a fantasy movie !! let's see the screenplay
The master knows exactly the right time to do nothing.
  • #19,844
  • Nov 28, 2014 12:29pm Nov 28, 2014 12:29pm
Quoting ClockTrader
{quote} Now you sound like a funny newbie doing nothing but making noise here.. IF you do that again, I'll have no choice but to ignore.. PLEASE post your charts ASAP!
i m trying to post the chart will u tell me how to post the chart.....
seriously i m pressing print screen... but it did pasted at message... kindly guide me i will show u...

well actually i m really newbie, and just start trading 2 months befre, and dont know ABC of trading....
  • #19,845
  • Nov 28, 2014 12:38pm Nov 28, 2014 12:38pm
Quoting banker19
{quote} i m trying to post the chart will u tell me how to post the chart..... seriously i m pressing print screen... but it did pasted at message... kindly guide me i will show u... well actually i m really newbie, and just start trading 2 months befre, and dont know ABC of trading....
I suggest you stop posting and start only reading this thread. Google as much.. it has most answers to all basic questions.

Six months from now, once you think you have learned something.. you may wanna post here.. Wish you good luck and don't ever post silly stuff here again..
Hello World!
  • #19,846
  • Nov 28, 2014 1:10pm Nov 28, 2014 1:10pm
Quoting elbert3
committed to trade sl to manage
well won half not chasing it now ,thanks guys ,,,
  • #19,847
  • Nov 28, 2014 1:23pm Nov 28, 2014 1:23pm
Gold, crashed at last
  • #19,848
  • Nov 28, 2014 1:35pm Nov 28, 2014 1:35pm
Hindsight is a wonderful thing.
I was wondering why I missed the exact turning point down yesterday.
Main reason was I was waiting for a higher entry to short it [$1210].
Bill McLaren would say a creeping trend ends with a Higher Low,
or Lower High.
It was a Sell at ~$1195.
There is even a H&S there as well!
So obvious now on a 3H chart!
Cheers, U2

[Short $1189 Hedge SL $1195 Target: $1105 [or lower]].
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Wait, or you will be slaughtered!
  • #19,849
  • Nov 28, 2014 1:42pm Nov 28, 2014 1:42pm
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one more trade this is for banker 19 to work out ,,, i am sure he is playing us up ????
  • #19,850
  • Nov 28, 2014 1:44pm Nov 28, 2014 1:44pm
Yes, FXCM stopped trading but already spot market was closed. And I also didn't see any spike upwards. It's close price is 1167.07.

Now, it gave me tricky situation, at which point I must SHORT. Wait for higher move and then SHORT or should I SHORT at this point (keeping in mind the SNB delima). Guidance please.
  • #19,851
  • Nov 28, 2014 2:13pm Nov 28, 2014 2:13pm
  •  Kah
  • | Joined Jun 2012 | Status: Patience is the Key to Success! | 150 Posts
Since I have been reiterating the same for about two weeks now. All it takes is persistence and patience. Followance of the longer term view with absolute money management will never make you lose. Hold to the technical perspective and guide yourself with the fundamental releases. Never forget to correlate within pairs and do a cross examination. Started shorting from 1204, added denominations of 50 oz at 1190 and 1182, denominations remains the same 50 oz at every entry. As a fund manager it is less headache and perfect management while following the longer term view and holdings. Now even though I nested these for two weeks but now they are paying off. Again a matter of persistence and patience. Still would hold them till 1050 is not achieved. Longs will also be planted but all below 1130. Thanks for the criticism earlier this week. I always face it, and in fact I don't take it into consideration keeping in view the scenarios. I work in longhaul and not for daily intakes. Equity level gives me the leverage to hold positions for long even if they go against me, which I use to build more positions. Building positions when PA is favorable not just when the knife is falling. Altogether a nice ride down and again I am enabled to enjoy my islander's weekend on my paradise. Fund manager turned hippy.

Have a great weekend. CT, you must be enjoying. I will wait for a party call from you.

Cheers,
KAH
  • #19,852
  • Nov 29, 2014 6:02am Nov 29, 2014 6:02am
advice needed; ive a few longs put in at 1167,1168, 1172, and 1176 - i instinctively reacted to fall by punching in some longs because all week i was making good progress by buying and selling within a channel between 1200 and 1900

i kind of forgot to really go back look at fundamentals including swiss vote, oil collapse bringing gold with and other things - i was reacting thinking might get bounce back

so - ive got a small 630 uk pounds loss on gold with current buys - should i close now and take loss, or hold out long term

whats the predictions for next week - are we ever going back to 1200, or are we heading directly to bottom eg 1150 or lower?
  • #19,853
  • Nov 29, 2014 6:16am Nov 29, 2014 6:16am
Quoting Waitnsee
advice needed; ive a few longs put in at 1167,1168, 1172, and 1176 - i instinctively reacted to fall by punching in some longs because all week i was making good progress by buying and selling within a channel between 1200 and 1900 i kind of forgot to really go back look at fundamentals including swiss vote, oil collapse bringing gold with and other things - i was reacting thinking might get bounce back so - ive got a small 630 uk pounds loss on gold with current buys - should i close now and take loss, or hold out long term whats the predictions...
First off with the Swiss vote there is likely to be a lot of volatility next week. Hindsight says you maybe should have waited till the dust settles but as you already took the trade and you can't do anything til the market opens Sun you can't do anything just hope it is a yes vote and market gaps up. Basically you have to wait and see what happens then decide.

My advice? depends how much equity you have but wait to see what happens and either take the hit or hedge because it will eventually turn up, just don't know when. On the other hand it could shoot up from here and you won't need to do anything.
  • #19,854
  • Nov 29, 2014 6:34am Nov 29, 2014 6:34am
if swiss fail - which is likely - will we see immediate drop - or small bounce back like oil, which then fell again

i personally see major financial problems next year and price of gold shooting up long term, but short day trading next week i havent a clue,

could we go back down to nov 3rd low of 1132?
  • #19,855
  • Nov 29, 2014 7:34am Nov 29, 2014 7:34am
Quoting Waitnsee
if swiss fail - which is likely - will we see immediate drop - or small bounce back like oil, which then fell again i personally see major financial problems next year and price of gold shooting up long term, but short day trading next week i havent a clue, could we go back down to nov 3rd low of 1132?
From what I've been reading, the sentiment seems to be that the vote will be "no" but if most have the same feeling, could that be priced in already? Was the fall Friday partly because most don't want to be long knowing the vote is "no"? Did the shorts pile in yesterday, pushing price lower, so now heavy short positions around? If price doesn't drop after a "no" vote, will the shorts panic and start covering and push price higher?

Just many things to think about when the "obvious" trade is in front of you. The mood of the market is really poor though so even without the vote, with the US$ strong, not much interest in buying gold.
  • #19,856
  • Nov 29, 2014 8:36am Nov 29, 2014 8:36am
I hope those who longed are on demo accounts.............
  • #19,857
  • Nov 29, 2014 8:39am Nov 29, 2014 8:39am
Quoting srt
{quote} From what I've been reading, the sentiment seems to be that the vote will be "no" but if most have the same feeling, could that be priced in already? Was the fall Friday partly because most don't want to be long knowing the vote is "no"? Did the shorts pile in yesterday, pushing price lower, so now heavy short positions around? If price doesn't drop after a "no" vote, will the shorts panic and start covering and push price higher? Just many things to think about when the "obvious" trade is in front of you. The mood of the market is really...

The Swiss thing is part of course but I think the market has a "no" prices in now.
We would see a bigger move for "yes" as that would be the surprise!!

the main reason is the correlation of Oil to Gold
hence the old maximum -: "oil today is gold tomorrow"

So oil is in free fall so then gold will be to
as no one knows where Oil will land - so no one knows where gold will fall

cheers

TEB
  • #19,858
  • Edited 9:22am Nov 29, 2014 8:52am | Edited 9:22am
I think if you are long gold you maybe in for a world of hurt
the oil was just the trigger
look at the week
remember Gold is for the big boys
and they play hard
and with a longer eye then forex
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  • #19,859
  • Nov 29, 2014 9:08am Nov 29, 2014 9:08am
Hope to make more next week . Keeping my fingers crossed !
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  • #19,860
  • Nov 29, 2014 10:07am Nov 29, 2014 10:07am
I am not trading gold only forex at this time
but boy Gold is weak!
and we see a clear target (T1) on the day chart
who knows if it will get there - but I bet it will try
and I think that may just be the 1st target
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