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  • #500,161
  • Jul 26, 2011 2:18pm Jul 26, 2011 2:18pm
Quoting pennies
if gold ever drops below then they just hedge against that. {which actually this physical gold is managed and secured for them already}, but this wasn't a dumb play by any means on their end.
If gold is ever confiscated or governments decide to attach a [value] far less than todays price then man they are screwed...Im not sure how u hedge against that....insurance?
  • #500,162
  • Jul 26, 2011 2:19pm Jul 26, 2011 2:19pm
Quoting cloggie
Untill 2 weeks ago I was a subscriber of the Times for almost 10 years and have now cancelled my sub, I will be avoiding and ignoring the NI press like the plague.

There is a huge shift away from the old rags, i'm sure it not the euro fundie driver but world is changing fast. Best fasten seetbelts going to be a bumpy ride. Having your comantairys is very helpfull as you seem to be on the forfront of what the news and sources there of, that matter.

thank you Cloggie

ps quite deleting old post now i cant find out what malt that was u favored
  • #500,163
  • Jul 26, 2011 2:21pm Jul 26, 2011 2:21pm
Cheers mate, when you say levels, any particular definition... Notice 60 is about 10 points north of R2, and usually 10 points of any major P,S,R line starts to get messy..anything i should bear in mind mate ? Cheers again
If in doubt, hide behind the sofa....
  • #500,164
  • Jul 26, 2011 2:26pm Jul 26, 2011 2:26pm
"my numbers show that we have been oscillating in a channel from 4184 area to 4529 for quite some time. We were rejected from the 4529 area 7 or 8 times recently with the rejections stemming over 100 pips on average.Now that we have broken and closed on the weekly charts above the 4529 it no will act as a very very strong support level. Looking to the monthly channel it has been working in between the 3728 level to 4911.

As a position trader I typically wait for these levels to be broken and then to be retested as a new support or resistance level before adding to my position..

Currently I am holding EU long positions from 1.2002, 1.2463 1.3072, 1.3728, 1.3987, 1.4184 and I just opened a long at 1.4529 and closed out a Hedge short I had from 1.4645 for +116 pips


Looking now for the 4911 level to take another hedge short initially before it is broken and add to the long position."


I posted this back on April 25th


some things just dont change... *sigh*.. without a major fundie driver the USD is doomed... haircutting T-bills by the CME is not big news in and of itself, but it is big cause it really says what the ratings agencies are thinking.

then again the USD will def rally.. and rally it must when the "debt ceiling" is raised and some POS deal is put together as far as budget cuts go. Id like to be more optimistic but the lack of balls on US policymakers is staggering.

4529... why you gotta be so cruel?
  • #500,165
  • Jul 26, 2011 2:29pm Jul 26, 2011 2:29pm
hey does anyone on here study Austrian economics?
  • #500,166
  • Jul 26, 2011 2:35pm Jul 26, 2011 2:35pm
Quoting Wulfgar

from 1.2002,

jesus dude, how long you been holding on to that one...
Look Sharp/Trade Tight
  • #500,167
  • Jul 26, 2011 2:45pm Jul 26, 2011 2:45pm
Quoting littlebighil
i get you mate and cheers for the reply.....

Just watch the next hour and a half here, with a bottle of beer or a glass of wine and you will see what I am talking about. Entertainment in the making......
  • #500,168
  • Jul 26, 2011 2:45pm Jul 26, 2011 2:45pm
Quoting PayTheLimit
jesus dude, how long you been holding on to that one...

long freakin time... I actually closed a bunch of those from the 1.2ish's at 4900 area... Was concerned ATM of a possible large scale correction back to 3728... didnt quite get there did we though?

When we reach those large positional areas thats when I def pay the bills...

this intrastuff is still eluding me somewhat...
  • #500,169
  • Jul 26, 2011 2:47pm Jul 26, 2011 2:47pm
lol anyone listening to this Ron Paul hearing


" Last week I learned Gold is not money."

quote of the day for sure
  • #500,170
  • Jul 26, 2011 2:47pm Jul 26, 2011 2:47pm
Quoting Wulfgar

this intrastuff is still eluding me somewhat...

Unitl '06 I was a big time position trader (pretty natural coming of equities and bonds), haven't taken any trades longer then a few weeks since '07 really. As a halfway decent intraday trader one could failry easily net 500-1,000 pips a week, no position trader can beat that.
  • #500,171
  • Jul 26, 2011 2:48pm Jul 26, 2011 2:48pm
Quoting cloggie
Just watch the next hour and a half here, with a bottle of beer or a glass of wine and you will see what I am talking about. Entertainment in the making......
  • #500,172
  • Jul 26, 2011 2:51pm Jul 26, 2011 2:51pm
Quoting Wulfgar
long freakin time...

lol, understatement of the day, .....I had some on for 11 or 12hr yesterday/today, felt like a century...
Look Sharp/Trade Tight
  • #500,173
  • Jul 26, 2011 2:51pm Jul 26, 2011 2:51pm
Quoting cloggie
Unitl '06 I was a big time position trader (pretty natural coming of equities), haven't taken any trades longer then a few weeks since '07 really. As a halfway decent intraday trader one could failry easily net 500-1,000 pips a week, no position trader can beat that.

ya Im a little behind the 8ball and starting to realize that very thing

Ive been busting my ass spending hours learning intraday characteristics and subtleties

in alot of ways price behaves the same on all time frames, Im just not quite used to the speed of intraday moves yet

looking at 5 min charts for entries is something I would of found laughable 12 months ago... it still is a bit of a mystery... treading water on demo accts currently.. still position trading live though.


What made you decide to jump into intraday clogs? Did you find there was a learning curve as well?
  • #500,174
  • Jul 26, 2011 2:52pm Jul 26, 2011 2:52pm
Quoting Wulfgar
long freakin time... I actually closed a bunch of those from the 1.2ish's at 4900 area... Was concerned ATM of a possible large scale correction back to 3728... didnt quite get there did we though?

When we reach those large positional areas thats when I def pay the bills...

this intrastuff is still eluding me somewhat...

Fairplay mate, often dream of being one of those people still holding onto absolute winners...Cant lose just running south all the time, except the spread... BTW - when you put those trades on did they have electronic dealing or do you keep the currency under your bed ?
If in doubt, hide behind the sofa....
  • #500,175
  • Jul 26, 2011 2:53pm Jul 26, 2011 2:53pm
Seems like a visit to 1.4460 in short term is now more likely
So get ready!
  • #500,176
  • Jul 26, 2011 2:53pm Jul 26, 2011 2:53pm
Quoting PayTheLimit
lol, understatement of the day, .....I had some on for 11 or 12hr yesterday/today, felt like a century...

lol! well it would warm my heart to look at it from time to time... actually the position was very small by the time I closed it entirely... I just enjoyed having it on my platform..

had a few longs from the Aussie pairs too from the .8ish's. Im still kicking myself for closing those at Parity... that was about as close to a carry trade as there was..
  • #500,177
  • Jul 26, 2011 2:54pm Jul 26, 2011 2:54pm
Quoting cloggie
As a halfway decent intraday trader one could failry easily net 500-1,000 pips a week, no position trader can beat that.

and if start doing a little size, well your in business...
Look Sharp/Trade Tight
  • #500,178
  • Jul 26, 2011 2:55pm Jul 26, 2011 2:55pm
Quoting Wulfgar

What made you decide to jump into intraday clogs?

I took a break from trading my own account and went back to the City for a few years working for quants and HFT's, got suckered into it by a few friends, that was an eyeopener for me and made me realise that there was no way I would get what I really wanted out of the market without going intraday.

Quoting Wulfgar
Did you find there was a learning curve as well?

It took me over a year to get my head around it, and that was on the back of 20 years in the business. Noobies don't have it easy in this market and the glossy adds, coupled with all the BS on these forums just make it look way too easy.
  • #500,179
  • Jul 26, 2011 2:56pm Jul 26, 2011 2:56pm
Quoting cloggie
Unitl '06 I was a big time position trader (pretty natural coming of equities and bonds), haven't taken any trades longer then a few weeks since '07 really. As a halfway decent intraday trader one could failry easily net 500-1,000 pips a week, no position trader can beat that.
did the same thing.holding positions,still holding half of my trades for long time like months and I expect 1.72 on GU and 1.51 on EU but as they bring little pips I preffer to scalp on M1 and M5 and this brings some 400 pips a day or last week 2300 pips.only by this I have more than on long term trades.

the only thing that brakes my trades is the trending market as I need chaos to trade proficiently
  • #500,180
  • Jul 26, 2011 2:57pm Jul 26, 2011 2:57pm
Quoting littlebighil
Fairplay mate, often dream of being one of those people still holding onto absolute winners...Cant lose just running south all the time, except the spread... BTW - when you put those trades on did they have electronic dealing or do you keep the currency under your bed ?
When i bought those we were still using continentals...lol

http://upload.wikimedia.org/wikipedi...Feb-76_obv.jpg
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