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Only Gold!

  • #20,021
  • Dec 1, 2014 10:57am Dec 1, 2014 10:57am
Keeps going strong, I wasnt ready for that big move to the upside :s
  • #20,022
  • Dec 1, 2014 11:05am Dec 1, 2014 11:05am
Quoting MikiFX
{quote} Certainly, becasue this is completely nonsense from the fundamental POV
Quoting sgkrishn
Bears preparing for a great hush.
I would suggest never attach your emotions with PA.. Go with the Flow..

Guess what? Even I'm finding it hard how to handle this situation.. even though my accounts are swelling with profits.. doing nothing but hedging green longs @ dead slow pace + placing pending shorts higher & higher (way below current price) as it continues to climb farther..

PS: Like any other good trader, I hate to use hedge in lieu of SL. BUT, I love to hedge to lock the floating profit.. IF things go beyond understanding, I can simply clean the slate and start fresh.
Hello World!
  • #20,023
  • Dec 1, 2014 11:15am Dec 1, 2014 11:15am
I think bulls time is over, get ready to sell gold and crude. At least I'm going to do this, what's ur opinion guys?
  • #20,024
  • Dec 1, 2014 11:16am Dec 1, 2014 11:16am
I guess I was right about Gold...
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #20,025
  • Dec 1, 2014 11:19am Dec 1, 2014 11:19am
What a day for gold!

The retrace was obvious as the big players knew for sure that retailers would short after the swiss decision, waited for the PA to move down before pushing it hardly towards the north!

What made the rally stronger is SL hunting and retailers booking profits fearing the unknow!

I took a long from 1160 to 1175, did not see the move toward 1205! now i'm on the sideline undecided yet!

Happy trading all and hope you managed to book good profits today
  • #20,026
  • Dec 1, 2014 11:19am Dec 1, 2014 11:19am
Quoting MikiFX
{quote} Certainly, becasue this is completely nonsense from the fundamental POV
ur rite mikifx, bears time gonna start soon
  • #20,027
  • Dec 1, 2014 11:21am Dec 1, 2014 11:21am
Quoting fxmasterdxb
What a day for gold! The retrace was obvious as the big players knew for sure that retailers would short after the swiss decision, waited for the PA to move down before pushing it hardly towards the north! What made the rally stronger is SL hunting and retailers booking profits fearing the unknow! I took a long from 1160 to 1175, did not see the move toward 1205! now i'm on the sideline undecided yet! Happy trading all and hope you managed to book good profits today
I think you are wrong there. Moody's downgraded Japan and pushed safe-haven flows into gold, which forced big short traders to cut down their trades, elevating the price even higher. Short covering in simple words.
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #20,028
  • Dec 1, 2014 11:28am Dec 1, 2014 11:28am
Quoting Panco
{quote} I think you are wrong there. Moody's downgraded Japan and pushed safe-haven flows into gold, which forced big short traders to cut down their trades, elevating the price even higher. Short covering in simple words.
Well you could be right but $60! If it was the news that caused the move then it was over reacting i would say.

One more thing, if you notice JPY pairs did not gain much which in case the news had such a big effect then we should have had a strong movement in those pairs.
  • #20,029
  • Dec 1, 2014 11:35am Dec 1, 2014 11:35am
Quoting fxmasterdxb
{quote} Well you could be right but $60! If it was the news that caused the move then it was over reacting i would say. One more thing, if you notice JPY pairs did not gain much which in case the news had such a big effect then we should have had a strong movement in those pairs.
$60 is a result of short covering and safe-haven. About JPY reacting to downgrade, before I'll answer, for how long have you been trading forex?
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #20,030
  • Dec 1, 2014 11:42am Dec 1, 2014 11:42am
well we hit 1210, what are your positions guys, sell now or still wait for confirmation?
  • #20,031
  • Dec 1, 2014 11:48am Dec 1, 2014 11:48am
1215 is coming soon, lol
what a day for gold, will sell after 1215. it will get back at 1196.
  • #20,032
  • Dec 1, 2014 11:49am Dec 1, 2014 11:49am
Quoting RomanBubenik
well we hit 1210, what are your positions guys, sell now or still wait for confirmation?
Quoting LeoDaLion
I think bulls time is over, get ready to sell gold and crude. At least I'm going to do this, what's ur opinion guys?

Hedging Green Longs a little harder now, IF it indeed falls below 1200.. shorts will begin to trigger to cover long contracts..
Hello World!
  • #20,033
  • Dec 1, 2014 11:51am Dec 1, 2014 11:51am
guyss.. cheers for gold
  • #20,034
  • Dec 1, 2014 11:52am Dec 1, 2014 11:52am
I'll sell into the 113% extension at 1215.8. Let's see if we get there
Be water, my friend
  • #20,035
  • Dec 1, 2014 11:54am Dec 1, 2014 11:54am
Still on sell side Hard 2 believe this false moves anything could happen.Safe to on trend.
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #20,036
  • Dec 1, 2014 11:58am Dec 1, 2014 11:58am
any solid resistance for gold to retrace????/
  • #20,037
  • Dec 1, 2014 11:58am Dec 1, 2014 11:58am
What if this trend continues tomorrow...just what if...? I have always known December to be the month for crazy moves.
Less is more...
  • #20,038
  • Dec 1, 2014 11:58am Dec 1, 2014 11:58am
I wonder where Gold would have reached if swiss voted Yes.

I was burnt out down and then up.

To trade gold one should do it on a fat account.

I need a looooong break before trading again.

Good trading every one.

Abokwaik signing out.
No guts, no glory
  • #20,039
  • Dec 1, 2014 12:03pm Dec 1, 2014 12:03pm


Its like WT...

Guess what? Tried to close contracts (IN), but my RMs gone home.. didn't care to call their Head Office..

I don't trade contracts on my computer but only through phone & let my RMs do the trades..

Once I take positions here in India, I just sit back... too laid back... whatever.. this is KOOOOOOOOL

Everything under 100% control... IF price falls, got shorts to trigger in FX....
Hello World!
  • #20,040
  • Dec 1, 2014 12:05pm Dec 1, 2014 12:05pm
100% of LONGs in FX hedged (in dark green)

IF this falls below 1200, shorts will trigger.... I'm feeling good...

PS: I'll tweak the short stops now..
Hello World!
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