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Only Gold!

  • #26,161
  • Aug 20, 2015 9:49am Aug 20, 2015 9:49am
Quoting atom3
We are at 1150 maybe a good place for a short, of course this is purely based on technical resistance level so the risk is high
Well, my system says it's safe to sell $15 lower area from the top, instead of testing shorts on every resistance level.

It says, wait for a perfect 'Setup'.. Easily said than done, so.. the problem is that system is right, but in order to be a super genius I'm working hard to figure out where the tip would be?

Unless the system says, this is Top, a top may never be around..


My question to you guys is:

Should I work hard to figure out the tip of the Rally? Or should I simply relax until a perfect setup is there?

The reward with working hard is that it hones my skills, but, it takes its toll too.. time, energy and sometimes money too

Easy and Relaxed Life Vs Tough Life.

PS: Perhaps a balanced approach would be fine.
Hello World!
  • #26,162
  • Aug 20, 2015 11:28am Aug 20, 2015 11:28am
1150$, what do you think? up or down?
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  • #26,163
  • Aug 20, 2015 11:35am Aug 20, 2015 11:35am
Quoting ClockTrader
{quote} I can't share my entire list of mistakes, but the bottom-line would be as below: "I should follow my system with discipline, period." I think I should recite this all day long.. it actually works.. There is practically nothing else I need to do. My System: It cannot only predict rallies, but, most session/daily waves on way on M15. I know how this sounds, it sounds ludicrous, but, this is how it is.. Any worthy guy can test me for Free!

It's good then, what I mean, eg, there is time you going to miss out some entry or exit, then try to exclude a particular time frame in your system, so the discipline issue wont affect the result of your system. Eg, when i trade short term, I wont take trades when I going to sleep, or I going to go out for a drink, or when I am out for lunch or dinner, because I wont be able to react to market condition at that time I am not around.

And in trading, don't take it too hard if there's a loss, losses are part of it. But for investing, it's possible to have less losses as you can hold it till it go in your direction. Just keep doing it according to your system, the discipline factor will come into place by itself. It's something like, everyday you wake up, you know you going to brush your teeth.
The only winner is the one who survive the longest...
  • #26,164
  • Aug 20, 2015 11:42am Aug 20, 2015 11:42am
Quoting HeavenDiablo
1150$, what do you think? up or down?
My personal opinion is to hold till the bull strength weaken. This chart is my area of exhaustion.
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The only winner is the one who survive the longest...
  • #26,165
  • Aug 20, 2015 11:45am Aug 20, 2015 11:45am
1165 - 1156 area watch for a bounce short, daily supply area - weekly 21 ema - this is the area that caused the huge imbalance short
  • #26,166
  • Aug 20, 2015 12:14pm Aug 20, 2015 12:14pm
All the market gone down because FED does not want to increase the interest rate, do you think that the situation will reverse, and the market finally start to adapt to FED much longer not raise interest rates, which will lead to the stagnation of gold or perhaps even fall?
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  • #26,167
  • Aug 20, 2015 12:18pm Aug 20, 2015 12:18pm
is there any tell me why gold is to strong i still cant find the good reason for this bullishness
  • #26,168
  • Aug 20, 2015 12:33pm Aug 20, 2015 12:33pm
Not everything people do has a reason behind it
  • #26,169
  • Aug 20, 2015 12:48pm Aug 20, 2015 12:48pm
Quoting rashidyousuf
is there any tell me why gold is to strong i still cant find the good reason for this bullishness
Bro, so what good reason, you think it should be bearish?
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The only winner is the one who survive the longest...
  • #26,170
  • Aug 20, 2015 12:59pm Aug 20, 2015 12:59pm
Quoting kinspk
{quote} Bro, so what good reason, you think it should be bearish? {image} {image} {image} {image} {image}
asset rebalancing from stock, investment diversification.
and technically cup and handle pattern on daily chart.
  • #26,171
  • Aug 20, 2015 9:40pm Aug 20, 2015 9:40pm
Quoting kinspk
{quote} It's good then, what I mean, eg, there is time you going to miss out some entry or exit, then try to exclude a particular time frame in your system, so the discipline issue wont affect the result of your system. Eg, when i trade short term, I wont take trades when I going to sleep, or I going to go out for a drink, or when I am out for lunch or dinner, because I wont be able to react to market condition at that time I am not around. And in trading, don't take it too hard if there's a loss, losses are part of it. But for investing,...
The discipline is not about timing bro. It is that I am not able to follow my own system with discipline.

I've come too far.. I have invested nearly a decade.. lots of money as well.. The numbers are staggering and I feel like I'm close to cracking the code.. All the time I feel I'm there, but, implementation and rapid improvisation is not easy. We are talking about cracking a $5 Trillion daily market here.

Without a mentor and doing it all on my own from a town in India is challenging.. It's actually crazy. Power and Water are a luxury here.. Good Roads don't exist, let alone other basic amenities. I know there are worse places on Earth and I have no right to complain. Let's hope for the best.
Hello World!
  • #26,172
  • Aug 20, 2015 9:42pm Aug 20, 2015 9:42pm
Quoting kinspk
{quote} Bro, so what good reason, you think it should be bearish? {image} {image} {image} {image} {image}
Nice charts indeed.
Hello World!
  • #26,173
  • Aug 21, 2015 2:14am Aug 21, 2015 2:14am
Having reversed from 1070-75 area, encompassing the descending trend-channel support, during late July, the Gold prices are likely to rollback some of its recent gains should it fail to surpass the seven month descending trend-line resistance.
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  • #26,174
  • Aug 21, 2015 2:25am Aug 21, 2015 2:25am
Quoting kinspk
{quote} My personal opinion is to hold till the bull strength weaken. This chart is my area of exhaustion. {image}
Closing long. Exhaustion region reached.
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The only winner is the one who survive the longest...
  • #26,175
  • Aug 21, 2015 3:20am Aug 21, 2015 3:20am
Quoting rashidyousuf
is there any tell me why gold is to strong i still cant find the good reason for this bullishness
us news that they wont be raising the rates next month - weekly demand area - usually vertical moves down are filled to the area that caused the move - see my post
  • #26,176
  • Aug 21, 2015 5:09am Aug 21, 2015 5:09am
Quoting kinspk
{quote} Bro, so what good reason, you think it should be bearish? {image} {image} {image} {image} {image}
thanks bro for the information i really appriciated

regards

Rashid Yousuf Samaa
  • #26,177
  • Aug 21, 2015 5:15am Aug 21, 2015 5:15am
Quoting rashidyousuf
{quote} thanks bro for the information i really appriciated regards Rashid Yousuf Samaa
You're welcome, Bro.Btw, although statistics show that Sept is a bullish month, but Sept 18, there will be a Fed Fund Rate decision, so becareful with your trades. Good luck.
The only winner is the one who survive the longest...
  • #26,178
  • Aug 21, 2015 7:20am Aug 21, 2015 7:20am
I have a 5 min long signals few minutes ago, but I am not taking it as it's before news soon. You can give it a try if you are on low risk, as SL will be around 1150 to 1153, quite a good R:R if it retest 1168.
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The only winner is the one who survive the longest...
  • #26,179
  • Aug 21, 2015 7:54am Aug 21, 2015 7:54am
the 3 bottoms in 1 min candles seems to hold well around 1154, its good for short bull.
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The only winner is the one who survive the longest...
  • #26,180
  • Aug 21, 2015 8:04am Aug 21, 2015 8:04am
Quoting kinspk
the 3 bottoms in 1 min candles seems to hold well around 1154, its good for short bull. {image}
Tested again, time to fly. 1153 a good SL. Nothing much to lose.
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The only winner is the one who survive the longest...
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