Gold in rally mode @1495 now ... i got in at the right moment{image}
- #4,583
- Oct 17, 2019 12:47pm Oct 17, 2019 12:47pm
- Joined Dec 2017 | Status: Trader | 3,743 Posts
{quote} Detector, did you take that position as a hedge, speculation that Brexit experiences more delay/uncertainty or something else entirely? I don't usually trade gold and I am not willing to commit to a medium or long term bull market until it rises back above 1500. I have been bearish on oil and don't fancy adding to that exposure by going long gold unless I have a good reason. That said your gold trade probably worked out well and it still could be a good opportunity now too, risk aside. Interestingly if we compare gold retracement levels...
A typical case in point is the current WTI, it has been up and down in a bit of a range, while we have chatted about it going down, it has eluded at every point and now from a great short is has risen, this would have been a typical trade that I would have switched to lower time frames to try and catch an extra pip, however WTI long does not sit well but if the opportunity is there, trade it.
I have a problem at the minute looking at the higher TF and my entry is poor, need to backtrack and start again, my gold long would have netted more in going short if the DD was anything to go by, hope this answers your question,
D
I don't need to be good at the game, only good enough to beat my opponent,
- #4,585
- Oct 17, 2019 2:29pm Oct 17, 2019 2:29pm
- Joined Dec 2017 | Status: Trader | 3,743 Posts
I don't need to be good at the game, only good enough to beat my opponent,
- #4,588
- Edited 3:33pm Oct 17, 2019 3:16pm | Edited 3:33pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
{quote} Back in the days before the internet and online trading I had a friend that was an oil pit trader. He told once he could see the order flow in real time and that made it fairly easy to see where prices were going on any given day. Not sure what is out there today to give that edge.
But it might not be legal to act on it Some brokers are very alert on that trades and reverse them.. if you become too profitable... But at interbank level.. who would reverse it? But yeah, this could be quickly pulled into the c.. theories But it is logical that someone somewhere knows in advance.. our best hopes would be that they are not exploiting this They are some indirect ways to try to guess/see the market... Some claim it is possible with technics... some with technology, others with pure fundamentals.. and recently.. some niche known as "tweet trading" BTW about WTI... would not enter market so high... I believe markets are in overdrive atm... which is also reflected in the WTI
Can you afford to take that chance?
- #4,594
- Edited 10:27pm Oct 17, 2019 10:13pm | Edited 10:27pm
- | Membership Revoked | Joined Sep 2019 | 328 Posts
Don't understand what game is the players playing on WTI, hardly move out the range
{quote} You trade Gold/WTI by chance?
- #4,596
- Edited 11:40pm Oct 17, 2019 11:21pm | Edited 11:40pm
- | Membership Revoked | Joined Sep 2019 | 328 Posts
{quote}
)...TP 50.0 or close to 50 - #4,597
- Oct 18, 2019 12:15am Oct 18, 2019 12:15am
- Joined Dec 2017 | Status: Trader | 3,743 Posts
RT, GJ,sterling profit, closed now just the Dow open, I'm away today, keep it all going, good chess, D
sterling profit, closed now just the Dow open, I'm away today, keep it all going, good chess, D
I don't need to be good at the game, only good enough to beat my opponent,
- #4,598
- Oct 18, 2019 12:55am Oct 18, 2019 12:55am
- Joined Dec 2008 | Status: Trader | 2,931 Posts
persistence and determination alone are omnipotent
- #4,599
- Oct 18, 2019 1:20am Oct 18, 2019 1:20am
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
