Silver price going parabolic AGAIN

Caneorange said:
BuggedOut said:
Is anyone familiar with the Martingale betting system :-

https://en.wikipedia.org/wiki/Martingale_(betting_system)

This is what leon is playing. Works great for like 99% of the time while ever you keep "doubling down"...until of course you have such a bad run that you run out of money and can't afford to double down that one last time....

That won't be an issue here if leon isn't really trading or is using monopoly money. Therefore it is the perfect system for leon to scratch out a "winning record" and build up a forum fan club.

I am genuinely afraid for anyone who legitimately follows his trades. To do so would be highly irresponsible.
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Martingale system is designed for a 1:1 risk reward (i.e. blackjack tables) not shorting stocks. Martingale was a gambler and if the system truly worked than we should all forget learning anything and just go to the casinos.
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Casinos have this system covered with table limits - can't use it successfully at casinos.
 
leon1998 said:
double down @20.4 USD/oz ;)

leon1998 said:
Initiated a short position @19.8 USD/oz.

Silver is NOT ready to challenge @20 USD/oz in my opinion. Consolidation around 19 is absolutely necessary in order to have a solid base for midterm uptrend.

The good news is, critical USD18.5 is behind us; headline resistance will become support. I am looking forward to cover my short position once the support is tested in the near future. ;)
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I have a suggestion that could stop "us" that scoff.
How about you post some actual numbers instead of a short here or long there.
It is pretty much pointless to just post vague positions and it would take all of 60 seconds to actually post round numbers of what you have on the line.
 
Caneorange said:
BuggedOut said:
Is anyone familiar with the Martingale betting system :-

https://en.wikipedia.org/wiki/Martingale_(betting_system)

This is what leon is playing. Works great for like 99% of the time while ever you keep "doubling down"...until of course you have such a bad run that you run out of money and can't afford to double down that one last time....

That won't be an issue here if leon isn't really trading or is using monopoly money. Therefore it is the perfect system for leon to scratch out a "winning record" and build up a forum fan club.

I am genuinely afraid for anyone who legitimately follows his trades. To do so would be highly irresponsible.
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Martingale system is designed for a 1:1 risk reward (i.e. blackjack tables) not shorting stocks. Martingale was a gambler and if the system truly worked than we should all forget learning anything and just go to the casinos.

The reason it fails is due to poor risk management. Let's say you lose 7 "bets" in a row and started with $1,000. That is 1K, 2K, 4K, 8K, 16K, 32K, 64K for a total of 127K lost you would also have to have a bank roll of 255K just to make that 8th winning bet (128K plus 127K) all to win $1,000.

Example: if you had a win streak of 7 bets you would make 7K, but if you then had the same streak of losses then see above loss amount.

If you are wanting to learn more about risk management I recommend Optimal f as a book to read. But basically it says never to risk more than 3% of your bank roll on any trade.
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Maybe I wasn't clear with my post. I am fully aware of the issues with Martingale. Was trying to alert others to the risk.

BTW - It can be applied to stocks if your trading plan has relatively fixed exit/entry targets. The concept of continually "doubling down until you get the winner" is the same.
 
leon1998 said:
HEAD FAKE indeed, silver is back down to 19.8 USD/oz now.

So many peeps ignorant on Technical Analysis, but isn't that a good thing after all ;)

leon1998 said:
double down @20.4 USD/oz ;)

leon1998 said:
Initiated a short position @19.8 USD/oz.

Silver is NOT ready to challenge @20 USD/oz in my opinion. Consolidation around 19 is absolutely necessary in order to have a solid base for midterm uptrend.

The good news is, critical USD18.5 is behind us; headline resistance will become support. I am looking forward to cover my short position once the support is tested in the near future. ;)
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Hmm.. Back up to $20.26 now. I wonder which was the head fake. Still LYAO?
 
Jim4silver said:
leon1998 said:
Silver @19.66 USD/oz now

LMAO
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Good call Leon. Too bad people infer you are wrong all the time. Your calls have been more right than wrong from what I have seen, although I haven't seen all of them I am sure.

https://www.youtube.com/watch?v=Iwu-6GxBHN4

Jim
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That's because he makes so many calls, and he disappears when he's wrong. Then he'll start a new thread, and only comes back to it if he's semi-correct.
 
monopolize said:
leon1998 said:
HEAD FAKE indeed, silver is back down to 19.8 USD/oz now.

So many peeps ignorant on Technical Analysis, but isn't that a good thing after all ;)

leon1998 said:
double down @20.4 USD/oz ;)
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Hmm.. Back up to $20.26 now. I wonder which was the head fake. Still LYAO?
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66 cent move against you on a leveraged paper position is going to hurt a lot, although I'm certain there was a stop loss at $20 or lower. Getting 14c back on an identical position size gets you back 2/3 of your losses.

My aud short only broke even because half of it was stopped out, if I'd had the cojones to keep it propped up I would have woken up very very happy this morning. Anyone who got in on it when I posted however would have done very well, Leon and I both seem too early to the party although I think any PM shorts are going to have to be very short term though because I think new highs are in their future.

AUD prices of gold and silver will be interesting to watch, to see whether australia is seen as a secondary safe haven or not will likely determine that.
 
I sell and prices go up.
I buy and prices go down.

I'm buying more items now so I expect the price to drop just after my transaction finalises. :)
 
Are you a reliable indicator? :lol:

Graeme said:
I sell and prices go up.
I buy and prices go down.

I'm buying more items now so I expect the price to drop just after my transaction finalises. :)
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Graeme said:
I sell and prices go up.
I buy and prices go down.

I'm buying more items now so I expect the price to drop just after my transaction finalises. :)
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Like clockwork. You need a subscription service or something!
 
BuggedOut said:
Election coverage at the moment is suggesting we might be heading for a hung parliament.
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lets hope the sex party don't win a seat or we might have a well hung parliament.
 
Silver spot is back down to USD 19.80 /oz this morning; let me guess ... you must have finalized another transaction. ;)

Graeme said:
I sell and prices go up.
I buy and prices go down.

I'm buying more items now so I expect the price to drop just after my transaction finalises. :)
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Graeme said:
I sell and prices go up.
I buy and prices go down.

I'm buying more items now so I expect the price to drop just after my transaction finalises. :)
Click to expand...


The same with me! lol
 
APMEX promo mails:
silvers price continues to rise, BUY SILVER!
flash sale early access! Take advantage of today's dip!
whether it's up or down, buy buy buy, haha.
I think we're heading again to a bigger marketwide crash, september, october.
Silver $19 $18 $17 $16 $15 $14 $13 ...
2008's juli $19 top to octobers $9 bottom:
ag2008.gif

... took 3 months.
That's $3 per month down. :D
 
Ag bullet said:
BuggedOut said:
Election coverage at the moment is suggesting we might be heading for a hung parliament.
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lets hope the sex party don't win a seat or we might have a well hung parliament.
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I gave out for the sex party!
 
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