Gold Charting and Gold TA Chat

Follow up on above post..... (#177)
Shorts are working out nicely. :)

4088_gold20130515.jpg
 
Entry level (short) = 1425
Stop loss = 1455 (30 pips)
Margin required per 10oz contract = USD$139
Risk per contract = USD$300

Target = 1320
Risk:reward = 1 : 3.5
Exit level = 1356 (stopped out)
Profit per contract = USD$690 = 496%

4088_gols20130520.jpg
 
Weel looks like it may have resolved to the upside... bit weary being end of month n all
On a side note gold seems to be inverse of the nikkei
 
Hey thatguy,

I have not posted on this thread, and don't trade in silver.
But I wanted you to know I am always checking it out and very much appreciate the info you provide.

Southerner
 
Southerner said:
Hey thatguy,

I have not posted on this thread, and don't trade in silver.
But I wanted you to know I am always checking it out and very much appreciate the info you provide.

Southerner
Click to expand...

+1
 
http://traderdannorcini.blogspot.com.au/2013/06/gold-etf-gld-bleeding-inventory.html
One of the greatest mistakes many would-be traders make is allowing emotions, hopes, wishes, etc. to cloud their judgment of what currently is. Wishful thinking is not a trader's friend. If you want to survive in these markets, and prosper, you must become a hard-nosed realist able to master your emotions. Show me an emotional trader, and I will show you another failed statistic. Trading is a business. Treat it that way. Get control of your emotions, both wild-eyed optimism and excessive pessimism. Neither of these are your friend. Read the price action from the chart and then form an opinion. Far too many form their opinion and then go the price chart and try to make IT (the price chart) conform to their opinion. Novices do this and fail. Professionals do not. The play the cards that are dealt to them.
Click to expand...
Great post by a bearish traderdan... anyone who invests in PMs and does not follow traderdan is a fool!
 
thatguy said:
http://traderdannorcini.blogspot.com.au/2013/06/gold-etf-gld-bleeding-inventory.html
One of the greatest mistakes many would-be traders make is allowing emotions, hopes, wishes, etc. to cloud their judgment of what currently is. Wishful thinking is not a trader's friend. If you want to survive in these markets, and prosper, you must become a hard-nosed realist able to master your emotions. Show me an emotional trader, and I will show you another failed statistic. Trading is a business. Treat it that way. Get control of your emotions, both wild-eyed optimism and excessive pessimism. Neither of these are your friend. Read the price action from the chart and then form an opinion. Far too many form their opinion and then go the price chart and try to make IT (the price chart) conform to their opinion. Novices do this and fail. Professionals do not. The play the cards that are dealt to them.
Click to expand...
Great post by a bearish traderdan... anyone who invests in PMs and does not follow traderdan is a fool!
Click to expand...

Applies to trading not investing. Norcini is correct when he refers to traders. He does not refer to investors or savers in PM. There is a difference.
 
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