Hi Rac,would this be a setup that you like? I wonder if 1.4900-1.4877 will act as support or it will break lower?It is with the trend...
Adrian
Adrian
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- #564
- Apr 6, 2011 8:52am Apr 6, 2011 8:52am
- Joined May 2009 | Status: LIFE ITSELF | 1,058 Posts
so I'd be careful. Equities and commods won't go up forever
Previous bull markets in commodities have lasted 15 or 20 years. This one is going to last at least that long if not longer. And unfortunately, the supply side of gold it seems to be getting worse not better.
Gold crash NO - correction yes. Nothing goes straight up or straight down so there is nothing unusual about corrections, there are allways corections
Gold will be a couple of thousand dollars an ounce, and probably much higher.
The time when gold it will crash it will tell you, just have a open mind to listen to the ground. When you will see hysteria in the charts with incredible spike UP you should look to see if you shouldn't be going the other way, that will be the time.
When people are hysterical to buy, because they know that the market is going to go up forever, and prices exceed any kind of rational, logical economic value, it is usually the time. After this it will come the panic of selling when everyone whants to get out and you know what comes....
But for now Gold have a long life to live.
I'm just speaking from my limited experience.
man, charles dow and livermore, both were great
now back into my sabbatical hibernation in my wonderful cave
- #565
- Apr 6, 2011 1:54pm Apr 6, 2011 1:54pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
.. And unfortunately, the supply side of gold it seems to be getting worse not better.
Gold crash NO - correction yes. Nothing goes straight up or straight down so there is nothing unusual about corrections, there are allways corections
Gold will be a couple of thousand dollars an ounce, and probably much higher.
I'm just speaking from my limited experience.
Can you take it with you to the other side? - Some probably can; I have no plans.
And speaking of bull marketers lasting 20 years and longer...
You can tell it to those who bought nadaq in jan 2000 or nikkei in dec 1989 ...
Not sure if you remember, but just in case - you can look up its return for the last 22 years results here
Yes i am doing both!! Testing to see if I can post ..(last time I wanted to post a chart for some reason i was told that I couldnt) and testing demo forever )
And well said about the bull and bear camps... Nothing will go forever up or down , if i may say , it is all about the good old cycles of various degrees.
But commodities , as i understand it , tend to make cycles at peaks , rather than throughs ( in stocks and currencies).
Time will tell, charts will be screaming at you , for now back to business and would love to know the terminology abbs for RDB and RTL , retrace double bottom , retrace to trend line ?
Thanks Mark... Ps: I need to bi lit up)) up there)
cheers vito
)And well said about the bull and bear camps... Nothing will go forever up or down , if i may say , it is all about the good old cycles of various degrees.
But commodities , as i understand it , tend to make cycles at peaks , rather than throughs ( in stocks and currencies).
Time will tell, charts will be screaming at you , for now back to business and would love to know the terminology abbs for RDB and RTL , retrace double bottom , retrace to trend line ?
Thanks Mark... Ps: I need to bi lit up
)) up there)cheers vito
- #568
- Apr 7, 2011 7:15am Apr 7, 2011 7:15am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
Yes i am doing both!! Testing to see if I can post ..(last time I wanted to post a chart for some reason i was told that I couldnt) and testing demo forever
And well said about the bull and bear camps... Nothing will go forever up or down , if i may say , it is all about the good old cycles of various degrees.
But commodities , as i understand it , tend to make cycles at peaks , rather than throughs ( in stocks and currencies).
Time will tell, charts will be screaming at you , for now back to business and would love to know the terminology...
Rac’s Dream Bargains and Rac’s Trading Leverage…
- #570
- Apr 7, 2011 11:17am Apr 7, 2011 11:17am
lol..
Rac’s Dream Bargains and Rac’s Trading Leverage…
) If you taking the stop losses 300 pips )Seriously , what the abs for ?
Best V By the way Rb for Racks bargain?? Na the best fir would come ,
RBB for Racks BEST BETS
))Best
vito
- #571
- Apr 7, 2011 3:09pm Apr 7, 2011 3:09pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
geez , you must be one hell of a dreamer and a very high leveraged gambler
Seriously , what the abs for ?
Best V By the way Rb for Racks bargain?? Na the best fir would come ,
RBB for Racks BEST BETS
Best
vito
Dreams are 51% of your success... remember that and you shall do ok
And stop losses? You'd be surprised; a fellow trader who's flying over this weekend (btw. your country man) is still in aussie long with half of initial position since June last year.
His original entry:
long 20 std l at 0.8550
stop 650 ps
target 1.0550 (will find out tomorrow if he reversed)
We're talking about 'frequent scalper' with 4-5 trades a year. What can I say, different strokes for different people.
- #572
- Apr 7, 2011 3:36pm Apr 7, 2011 3:36pm
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Tell you what.
And stop losses? You'd be surprised; a fellow trader who's flying over this weekend (btw. your country man) is still in aussie long with half of initial position since June last year. ...Dreams are 51% of your success... remember that and you shall do ok
Dreams are 51% of your success... remember that and you shall do ok
it's an affirmation that my foot is on the success side already
& what more if i have BIG dreams?
WOW. who is this guy?
now, i have to meet another very interesting trader... him
interesting why 1.0550 is target (because 0.8550 + 650pips ? )
frequent scalper with 4-5trades a year, huh. wow.
MANY THANKS for this post.
im gonna be sleeping soundly again.
- #573
- Apr 7, 2011 3:47pm Apr 7, 2011 3:47pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
wow, i was about to sleep then i see this.
i was glad u said that Mark.
it's an affirmation that my foot is on the success side already
& what more if i have BIG dreams?
. They like wasting time and keep chatting away about $h^&&t, not realizing that they have to do something different than those 95% folks posting on forums...
- #574
- Apr 7, 2011 3:57pm Apr 7, 2011 3:57pm
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
I said that before, but people tend to ignore things they don't understand.
They like wasting time and keep chatting away about $h^&&t, not realizing that they have to do something different than those 95% folks posting on forums...
. told u i've been reducing my posting.i may have missed that post.
or my amnesia is still at work.
i love stories like that, so i hope u keep storytelling from time to time
- #575
- Apr 7, 2011 4:01pm Apr 7, 2011 4:01pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
WOW. who is this guy?
now, i have to meet another very interesting trader... him
interesting why 1.0550 is target (because 0.8550 + 650pips ? )
frequent scalper with 4-5trades a year, huh. wow.
MANY THANKS for this post.
im gonna be sleeping soundly again.
He introduced me to currency trading several years back, when I was an avid options trader.
Same guy, I mentioned before who bought hotel load of fiber in april 2006 and sold it in dec 2008, just when john paulson was abut to get ultra rich on the housing market bubble (hint, hint..
)Sweet Dreams Supreme (being)
- #576
- Apr 7, 2011 4:20pm Apr 7, 2011 4:20pm
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
A hotel business owner and 'hobbyist' swing trader.
He introduced me to currency trading several years back, when I was an avid options trader.
Same guy, I mentioned before who bought hotel load of fiber in april 2006 and sold it in dec 2008, just when john paulson was abut to get ultra rich on the housing market bubble (hint, hint..
in that case, PLEASE thank him for me.. when u meet tomorrow.. since he's the reason u are here with us.
i definitely gotta meet him someday.
You are the best, Mark!
~~~~~~~
Hello SQUEEZY!
- #577
- Apr 7, 2011 5:46pm Apr 7, 2011 5:46pm
oh wow!
in that case, PLEASE thank him for me.. when u meet tomorrow.. since he's the reason u are here with us.
i definitely gotta meet him someday.
You are the best, Mark!
~~~~~~~
Hello SQUEEZY!
Just reading up posts, relaxing, chilling
Trying not to post unnecessarily.
Hey Rac, wassup big guy
Simplicity is the key to success
- #580
- Apr 12, 2011 8:26pm Apr 12, 2011 8:26pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
eaud long, the saga continues .....
?, when I'm looking on your chart, I'm thinking which currency will fall faster Eur or Aud...
