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  • #83,781
  • Apr 7, 2009 1:41am Apr 7, 2009 1:41am
Quoting PipLand
wow man, thats a lot of red pips, how many trades you got going at once? You must be a very long term trader?
lol no, gold is just a little volatile. A 1000 pips can be reached in 5 minutes sometimes. I just bought at he wrong time, but it will go up and takes a couple of days.
My target is $1,000 per ounce and if I reach that it will be 10,000 pips.
It might take some time but I will reach it.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #83,782
  • Apr 7, 2009 1:45am Apr 7, 2009 1:45am
Quoting psiholog
I assume the 8$ figure is with margin included?

In any case, if the maximum drawdown per lost trade is 3.2%, sounds just about right to me. I must warn you though, you will be tempted to break your rules and even if you do stick to them, you may burn your account. You may end up doing this several times, the key is to not give up.

All traders have a rough start, whether rich or poor to begin with..starting equity 100dollars or 100,000 dollars... all traders lose their account at some point in time, whoever says different is lying...either that...
once more, many thanks for the help..
  • #83,783
  • Apr 7, 2009 1:47am Apr 7, 2009 1:47am
Quoting PipLand
Is that $8 per pip? It all depends on the size of your account, dont risk more than 1% of your account on a single trade especially if your new
$8 per pip? He announced earlier that he has a $100 trading account.
You do need a little more to trade $8 per pip
New voice message: Why are you calling me? If I need you, I'll call you!
  • #83,784
  • Apr 7, 2009 1:49am Apr 7, 2009 1:49am
Quoting KillerWhale
lol no, gold is just a little volatile. A 1000 pips can be reached in 5 minutes sometimes. I just bought at he wrong time, but it will go up and takes a couple of days.
My target is $1,000 per ounce and if I reach that it will be 10,000 pips.
It might take some time but I will reach it.
I agree with you that we might see above $1000, but I will wait till $820 for an entry. I know its a bit far off but I like to play it safe.
Trade on your own risk Plan your trade&trade your plan dont be a
  • #83,785
  • Apr 7, 2009 1:51am Apr 7, 2009 1:51am
Quoting traderathome
. EU M15 chart sporting a couple of Bear Channels, good consolidation signs before next move down.....to the lower 1.3200s I'd venture a guess based upon the fib extensions off the last Bollinger band squeeze.....
I am so tempted to jump on board the short train but not yet...if you look closely at your chart that area you selected with the lowest point being 1.3330 is the first strong support before continuation down. So far its holding well on 2 tests.

1.3415/25 has acted as strong resistance/support historically including today..still...im still dreaming about my perfect short entry off 1.3485...would love to ride that entry down to 1.3130
Different opinions highly valued, ignorant to slander.
  • #83,786
  • Apr 7, 2009 1:54am Apr 7, 2009 1:54am
Quoting psiholog
one other thing...im not sure if you fully developed your strategy yet but i suggest reading some threads on systems starting with the THV thread by Cobraforex
I'm one of THV user. Been use the method for some months and it works very good. All in one system, simple and afterall it is free . I'm not telling you it is the best system or any such holy grail things. In fact, I have several negative days when trading with THV. But if you have build enough positive attitude in trading and also some hundreds screentime hours, then trading with THV will be much easier. Just follow the rule and it will be fine.

One last thing, the community is very well mannered and helpful.
Manage your risk accordingly and you're half done your home work.
  • #83,787
  • Apr 7, 2009 2:07am Apr 7, 2009 2:07am
Quoting Trading Cat
I agree with you that we might see above $1000, but I will wait till $820 for an entry. I know its a bit far off but I like to play it safe.
Most of the experts (for what its worth) have their target @ 850 and they all expect it to go up from there.
I'll just keep buying at every big dip.


Edit, its going up rapidly now
200 pips up in the last few minutes
New voice message: Why are you calling me? If I need you, I'll call you!
  • #83,788
  • Apr 7, 2009 2:15am Apr 7, 2009 2:15am
Quoting KillerWhale
lol no, gold is just a little volatile. A 1000 pips can be reached in 5 minutes sometimes. I just bought at he wrong time, but it will go up and takes a couple of days.
My target is $1,000 per ounce and if I reach that it will be 10,000 pips.
It might take some time but I will reach it.
Hi KW,
Don't know if you've seen this but might be worth reading.

http://www.telegraph.co.uk/finance/p...les-fears.html
  • #83,789
  • Apr 7, 2009 2:32am Apr 7, 2009 2:32am
...if anyone else was looking for a short around there.
Good Trading. (keep it simple).
  • #83,790
  • Apr 7, 2009 2:38am Apr 7, 2009 2:38am
Quoting Jasper
...if anyone else was looking for a short around there.
Been thinking about it but I'm waiting for a better price
  • #83,791
  • Apr 7, 2009 2:39am Apr 7, 2009 2:39am
is london session crazy today ?
  • #83,792
  • Apr 7, 2009 2:42am Apr 7, 2009 2:42am
Quoting trading801
is london session crazy today ?
Not so far - I think everyones gone away for Easter
  • #83,793
  • Apr 7, 2009 2:42am Apr 7, 2009 2:42am
Quoting Jasper
...if anyone else was looking for a short around there.
im short as well
  • #83,794
  • Apr 7, 2009 3:00am Apr 7, 2009 3:00am
Quoting Jasper
...if anyone else was looking for a short around there.
you probably picked up my long at that level...LOL
i still think we will retrace somewhat before going lower...lets see
half position only so its cool no matter what

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Different opinions highly valued, ignorant to slander.
  • #83,795
  • Apr 7, 2009 3:06am Apr 7, 2009 3:06am
Morning all!
  • #83,796
  • Apr 7, 2009 3:12am Apr 7, 2009 3:12am
Look at the PA in this area, suggest its not going to break easy and at least expect some retrace
Attached Image (click to enlarge)
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  • #83,797
  • Apr 7, 2009 3:14am Apr 7, 2009 3:14am
Quoting stewrigh
Hi KW,
Don't know if you've seen this but might be worth reading.

http://www.telegraph.co.uk/finance/p...les-fears.html
The price will only dip as the demand for gold is much greater then the actual availability even if all central banks throw their gold out the door. China can buy all the gold of the world and still would want more.... just my 2 pips no worries....
Trade on your own risk Plan your trade&trade your plan dont be a
  • #83,798
  • Apr 7, 2009 3:25am Apr 7, 2009 3:25am
hi! i've been reading discussions for couple months and figured that i should start writing my thoughts too!
my idea is that it is going down, just have to wait for news, i suspect gdp of euro zone will be less than thought!
  • #83,799
  • Apr 7, 2009 3:31am Apr 7, 2009 3:31am
Quoting psiholog
you probably picked up my long at that level...LOL
i still think we will retrace somewhat before going lower...lets see
half position only so its cool no matter what

Attachment
As is the norm, it is at an area where it could go either way!!
Good Trading. (keep it simple).
  • #83,800
  • Apr 7, 2009 3:44am Apr 7, 2009 3:44am
April 7 (Reuters) - Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
MIZUHO CORPORATE BANK * EURO/DOLLAR: "Hugging the top of the Ichimoku 'cloud', hovering around the nine-day moving average. The euro is not overbought and one-month at-the-money implied volatility is lower than it has been since October. Time to start picking up again? A sustained break above last month's high at $1.3739 should see another round of short-covering and send it back up towards $1.4400."
* DOLLAR/YEN: "Consolidating neatly under yesterday's high at 101.45 yen and we continue to favour another brief squeeze higher still, to 102.00 and possibly even as high as 106.50 some time this month."
Trade on your own risk Plan your trade&trade your plan dont be a
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