US Dollar is trash... Get out of that Ponzi scheme !!!
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #12,623
- Edited 7:33pm Oct 27, 2011 7:09pm | Edited 7:33pm
- | Joined Aug 2007 | Status: Trader | 2,219 Posts
- #12,629
- Oct 27, 2011 8:00pm Oct 27, 2011 8:00pm
It is frustrating.
During the summer, I would be in long no problem and leave my trades running without stress.
But since late August, I feel like every move I make, price action moves in the opposite direction.
Half of me thinks - take a long position that could drop to $1400 without too much of a sweat, and just ride it out thinking we will eventually see a new top.
But I honestly fear that the moment I make this choice, price action will go down down down.
Ravissek may be laughing at the end of this. I sincerely hope he held on to his...
and don't leave that much money on the table.Don't be surprised if it goes down to $1300....just make sure you have your bases covered....and that you are still alive when you come out of your hole to ride it up again.
Life's a bitch....so be a dog and cover it!
- #12,632
- Oct 27, 2011 8:09pm Oct 27, 2011 8:09pm
I did the same thing ravisek is doing....we all know gold will eventually go up....but we are all a little greedy.....never thought it could possibly go down as far as it did.....I had just cashed in my goldwing and hyabusa....two motorcycles and $30000 later....now I am much wiser
Don't be surprised if it goes down to $1300....just make sure you have your bases covered....and that you are still alive when you come out of your hole to ride it up again.
As long as price goes back down to 16xx in the next year, I should be in good shape.
Picking bottoms is just as impossible as picking tops sadly, so it is tough sitting idly when bulls are obviously in town.
Just can't see how this momentum can continue at this rate.
It just keeps pushing up and I keep kicking myself.
- #12,633
- Oct 27, 2011 8:23pm Oct 27, 2011 8:23pm
I would greatly appreciate if anyone could explain the fundamentals on gold going up today... with the markets doing so well, and gold behaving these past 2 days as safe haven again, how come after the news from eurozone gold went up like this? I would have expected a drop
In the usa when we cash out out normally to a safe haven it is gold....so dollar goes down and gold goes up.
It will remain that way until the dollar is no longer regarded as the reserve currency of the world.....then gold will SKY ROCKET.
Bottom line for now is the euro problem is messing with the logic.
Thats my two pence
Life's a bitch....so be a dog and cover it!
- #12,634
- Edited 9:16pm Oct 27, 2011 8:42pm | Edited 9:16pm
- | Joined Aug 2007 | Status: Trader | 2,219 Posts
- #12,635
- Oct 27, 2011 9:05pm Oct 27, 2011 9:05pm
looks like we may have a bull run on the asia session
opened a buy at 1752
res 3 is at 1777 hopefully it will run up to there. will tp there
r2 at about 1760....should see a bounce off of that. hopefully it will continue northwards until euro session.
No news coming up....so should be a fairly clear run....although china and japan have a habit of dropping unscheduled surprise news bombs.
opened another buy at 1750
It is at least a bit amazing how often people open trades and price goes the other direction.
I would love to conduct a statistically significant study of thousands of traders. I would wager that it isn't just Cath and myself having had this experience.
Fortunately, I take it slow. Patience patience patience. Xtrade rocked this round.
- #12,636
- Edited 9:59pm Oct 27, 2011 9:27pm | Edited 9:59pm
- | Joined Sep 2011 | Status: Trader | 558 Posts
Thanks for the input SunTrader, Wheels, Dogbreath and other friends.
If you ask me, if we still buy in the 1700 region and hold, no selling when it goes down and no selling when it goes up by little, and wait for 1900+, we'll make some money.
I "feel" its going up in the long run (a month or 2), how much am i ready to put in? 3 out of my 6 eggs.
I would love to listen to you all, it may save me my money and it may save yours too.
Here is what i expect and what i desire, Again
I feel (expect) gold going 1800+
My desire is to see it at 1600 again.
Now what to do, do exact opposite of what i expect? if i do that, will it make me some money?
(Please Note: 3 out of your 6 eggs which you have taken out to invest in bullion, not the eggs you intend to take out of your Business, your House, your Land, your car or your bike etc)
If you ask me, if we still buy in the 1700 region and hold, no selling when it goes down and no selling when it goes up by little, and wait for 1900+, we'll make some money.
I "feel" its going up in the long run (a month or 2), how much am i ready to put in? 3 out of my 6 eggs.
I would love to listen to you all, it may save me my money and it may save yours too.
Here is what i expect and what i desire, Again
I feel (expect) gold going 1800+
My desire is to see it at 1600 again.
Now what to do, do exact opposite of what i expect? if i do that, will it make me some money?
(Please Note: 3 out of your 6 eggs which you have taken out to invest in bullion, not the eggs you intend to take out of your Business, your House, your Land, your car or your bike etc)
- #12,637
- Oct 27, 2011 9:35pm Oct 27, 2011 9:35pm
I'm feeling your pain about now dogbreath. I realize price has not moved much and there is no reason to sweat, but if I had opened a sell at 1752, at least one of us would have a bit of profit.
It is at least a bit amazing how often people open trades and price goes the other direction.
I would love to conduct a statistically significant study of thousands of traders. I would wager that it isn't just Cath and myself having had this experience.
Fortunately, I take it slow. Patience patience patience. Xtrade rocked this round.
would be nice if one of us could always make a profit
Yeah....it is like casinos....you always hear about the guy that won a jackpot or a night of poker.....but he never tells you about all the times he looses
I am gonna ride it out a little more....might stay up for the euro session see if it turns around.....don't wanna be left in a chinese finger trap.
I try to have the discipline to close a buy if it goes negative 600 pips ($6).... alot of the time I will try to let it ride....sells I close religiously.
Oh well....we will see what the Europeans bring
As long as we stay above the pivot line....should be ok.....otherwise will have to re access.
Life's a bitch....so be a dog and cover it!
- #12,638
- Oct 28, 2011 1:30am Oct 28, 2011 1:30am
- | Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts
Anything can happen.