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  • #691,061
  • Sep 12, 2012 8:40am Sep 12, 2012 8:40am
Messy break of the top, but at least we know where the battle lines are.

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  • #691,062
  • Sep 12, 2012 8:40am Sep 12, 2012 8:40am
Time to visit lower prices.
COT: The precious data ignored
  • #691,063
  • Sep 12, 2012 8:40am Sep 12, 2012 8:40am
Quoting Rag2RichesFX
Ben better not disappoint tomorrow... I don't want to see nice profits disappear in 5 seconds from central bankers hitting "sell gold/silver" as fast as they can.

I have a feeling he will but the market has it so priced in that I am hoping he won't.

As a matter of fact the German court ruling and QE3 were both being priced in. So at least the market wont completely fall if QE isn't this month because German ruling is official. People will just sell off slightly and wait until the week or two before next FED meeting and go hopium crazy again....
my advice to you don't trade gold. it is the property of george soros, paulson fund and mark faber. these 3 guys have combined holding of 30% of gold market
  • #691,064
  • Sep 12, 2012 8:45am Sep 12, 2012 8:45am
Quoting attila
Messy break of the top, but at least we know where the battle lines are.

Attachment
I am short now.

Just need 87 to go.
Be hopeful in a winning position, and fearful in a losing position.
  • #691,065
  • Sep 12, 2012 8:46am Sep 12, 2012 8:46am
Quoting Nachiket
I am not expecting a big fall but I know for sure that 70% shorters are out and there are less sellers of the euro now.

do you keep a register?
  • #691,066
  • Sep 12, 2012 8:46am Sep 12, 2012 8:46am
Quoting Nachiket
my advice to you don't trade gold. it is the property of george soros, paulson fund and mark faber. these 3 guys have combined holding of 30% of gold market
i dont believe you for one second. sure they are big market players but 30% not a chance in hell. especially when you mentioned faber, hes not that rich compared to the richest in the world (who dont publically show you their true net worth so you dont know how much they have anyway)

but i dont day trade gold, i hedge the dollar with it (actually silver) when dollar is bearish.

when dollar is bullish i still day trade but then hold short Euro

Pretty simple, E/U seems to get bashed the most from dollar rallies and metals rally the most from dollar getting bashed... so why not play the best markets for it?
Be hopeful in a winning position, and fearful in a losing position.
  • #691,067
  • Sep 12, 2012 8:46am Sep 12, 2012 8:46am
Quoting StopGuessing
....... Today A friend of mind turned 15 dollars to over 310 bucks. In one day. What is the % profit on that?
What is the chance of ever doing that again.

High leverage is high risk which equals won't be long before they are high failure.
  • #691,068
  • Sep 12, 2012 8:47am Sep 12, 2012 8:47am
Quoting MaxDoom
do you keep a register?
  • #691,069
  • Sep 12, 2012 8:48am Sep 12, 2012 8:48am
Hi friends
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  • #691,070
  • Sep 12, 2012 8:49am Sep 12, 2012 8:49am
Quoting katejackson
Hi friends
Finally ....an EW chart.


Thanks Kate.
  • #691,071
  • Sep 12, 2012 8:52am Sep 12, 2012 8:52am
Quoting MaxDoom
do you keep a register?
no. thats my wild guess but sell orders are not getting filled.
  • #691,072
  • Sep 12, 2012 8:52am Sep 12, 2012 8:52am
I envy anyone who got a short position over 1.29......
Benjamin Franklin makes the world go round...:nerd:
  • #691,073
  • Sep 12, 2012 8:53am Sep 12, 2012 8:53am
Quoting SunTrader
What is the chance of ever doing that again.

High leverage is high risk which equals won't be long before they are high failure.
One understands your point of view. Yet, for him to have done that means something. His level of understand of being patient, and avoiding certain entries is what causes such high return. Along with the fact that he uses high leverage and equity. Yet scalpers money management is also key. If he withdraws say 300 dollars, and only plays with 15 then he is ahead of the crub. We look at it like this. How many people earn 300 usd a day? If your able to earn that profit in forex or stocks in one day. Withdraw it.

Not to mention he has done it many days in a row. I have already done it two days in a row, while providing my trades.
He who guess is LOST!
  • #691,074
  • Sep 12, 2012 8:53am Sep 12, 2012 8:53am
Quoting Rag2RichesFX
i dont believe you for one second. sure they are big market players but 30% not a chance in hell. especially when you mentioned faber, hes not that rich compared to the richest in the world (who dont publically show you their true net worth so you dont know how much they have anyway)

but i dont day trade gold, i hedge the dollar with it (actually silver) when dollar is bearish.

when dollar is bullish i still day trade but then hold short Euro

Pretty simple, E/U seems to get bashed the most from dollar rallies and metals rally the most from...
just because you have to defend your position does not mean you talk bullshit. google the sentence " top 5 gold holdings" and see what comes.
  • #691,075
  • Sep 12, 2012 8:54am Sep 12, 2012 8:54am
Quoting Nick35
I am afraid now of the devil Max.
  • #691,076
  • Sep 12, 2012 8:55am Sep 12, 2012 8:55am
Quoting Rag2RichesFX
I am short now.

Just need 87 to go.
We have support. I'll short the break. Not before.
  • #691,077
  • Sep 12, 2012 8:55am Sep 12, 2012 8:55am
Quoting TradeForexFx
Hi StopGuessing,

Any chance you could post a short write-up of how you trade the fibs? Finding a system for accurate entries is not easy. You do have a system in place. Maybe we will be also able to adapt it.

TF
I will do my best to post it in the rookie section when I have a chance. Right
now I am done for the day, and enjoying my time watching people making bias guesses with their hard earned cash.
He who guess is LOST!
  • #691,078
  • Sep 12, 2012 8:57am Sep 12, 2012 8:57am
Quoting StopGuessing
I will do my best to post it in the rookie section when I have a chance. Right
now I am done for the day, and enjoying my time watching people making bias guesses with their hard earned cash.
I read somewhere that sometimes guesses do work.
  • #691,079
  • Sep 12, 2012 8:58am Sep 12, 2012 8:58am
Quoting StopGuessing
I will do my best to post it in the rookie section when I have a chance. Right
now I am done for the day, and enjoying my time watching people making bias guesses with their hard earned cash.
thanks, I will be lookin forward to it.

TF
  • #691,080
  • Sep 12, 2012 8:59am Sep 12, 2012 8:59am
price action will go to 3150:
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