You are very kind spending your time letting us know from your launch in the carribean.. with the type of information you have you must be the richest person in the world.. being certain about the direction of gold is something millions of us want.. but only you have mastered I tip my hat to you kind sir, as Peter Schiff has stated if he were that smart.. he wouldnt be telling people.. hed be in a boat sipping pina colatas with a boat load of poosay
He is basically correct in that the miners tend to lead the physical metals up or down, but not always. With Peter Schiff making a statement like the one you posted, what does that make the people who use his advice?
I've just placed a short order @ $1226.50 @ $3 a pip (3 lots leveraged @ 100:1) with a take profit limit at $1206.15 (a little above the next support level). That works out to be a profit 2036 pips or $6108 USD. Stop loss is in place which will be periodically adjusted as gold sells off or if I can't be near the computer I'll put in a trailing stop. Just "putting my money where my mouth is" Disclaimer: Kiss of death when I publicly announce trades is rampant with me
He is honest... I rate honesty.. He is saying if he could predict perfectly and trends were always reliable he would be so loaded we would not bethought ing him.. Common sense I would of thought and great advice for those who choose to listen.. Very similar to Jim Rogers who says he is not smart enough to predict short term price movements... I appreciate this and think its fantastic advice.. People claiming they know what will happen in the short term have a high likelihood of being wrong.. But its your money to invest
Pardon my ignorance - what is the time frame? I'm assuming you are wanting the price to drop to below 1206, but by when?
tonight has the potential for one of the biggest up moves in years as last areas of resistance is forming support marking it an official Bull leg, not saying it will spike up but I would be very cautious on a GLD short, have your stops in ready if your gonna do it cos you might be watching it race the other way.
Technically it's not a CFD but a forex exchange rate I'm trading http://www.forextime.com/eu/forex-trading/contract-specifications/XAUUSD The order is good until I decide to cancel it. I would normally would have to pay for rollover rates if I keep it overnight but the bonus I chose with my forex trader allows me to rollover without any fee
+330 pips atm with the SL sitting at +200 pips. Regardless of what happens from here, I've locked in $600 USD profit (slippage aside) in less than 2 hours.
I'm probably going to place both a sell and buy stop a few minutes prior to US retail figures are due out tonight. Or I may go long on gold and short the EUR/USD as selling the Euro is looking tempting at the moment
