2nd of September was the day!

[Shakone]

Why don't you just admit you were completely wrong Rothschild? That you slagged off The Baptist repeatedly, even though he was right and you were wrong. You kept slagging him off as gold fell down somewhat, even though it was still above the level when TheBaptist made his post, making you look petty.

You got it wrong. Worse, you're stubbornly wrong.

 

[N Rothschild]

i am wrong about my long turn views because gold is trading like 5$ above its highs? yeh ok

 

[N Rothschild]

"i think gold is toast up here..." my brokers opinion lol

 

[Shakone]

long term view? So you were short once Baptist started this thread. You must have a sizeable stop. Obviously you must still be in, because your long term view hasn't changed.

By the way, a much better trader than I once said, you can't be bullish and not long. In other words, if you really do have a view of where price will go, then you should be trading that. If you're not trading that, it means either you don't really have an idea where price will go, or you're not very confident in your own idea. You can work out which one you are. It is all too easy to slag people off on forums. Much harder to suggest good trades, which the baptist clearly did. If you traded this short on that day, you're relying on the hope that 'eventually' it will come back down. And eventually it probably will. That doesn't take any skill whatsoever. Right up your street then.

 

[The Baptist]

intrsting to see gold moving on its own here without the $..but i maintain my long term outlook! this is prolly a ramp up to take out buy stops and lure suckers in

OK this sucker was lured in up to $1036 - P&F target however was $1042, so I expect more suckers getting lured in for profits t this point. Time to come on over you will love being on our side we make new highs every now and then, its good for the trading account, you know you wanna😎

 

[The Baptist]

long term view? So you were short once Baptist started this thread. You must have a sizeable stop. Obviously you must still be in, because your long term view hasn't changed.

By the way, a much better trader than I once said, you can't be bullish and not long. In other words, if you really do have a view of where price will go, then you should be trading that. If you're not trading that, it means either you don't really have an idea where price will go, or you're not very confident in your own idea. You can work out which one you are. It is all too easy to slag people off on forums. Much harder to suggest good trades, which the baptist clearly did. If you traded this short on that day, you're relying on the hope that 'eventually' it will come back down. And eventually it probably will. That doesn't take any skill whatsoever. Right up your street then.

Hi Sakone,

Appreciate the support, but don't be to hard on them, I think they good sorts really :cheesy:, Physchologically it is difficult for all of us to unhinge having taken a certain position.

The tendency is the only honour is to stick to ones guns even when new highs are hit, whilst in trading flexibility of view is cherished as a key attribute and the ability to do flip flops and U-Turns is excellent. I was forced into reminding myself of this for not reversing on a recent AUDJPY trade that went South. It is the last great 'Holy Grail' in trading greatness, being able to change sides and to do it early ( Do you think Italians might be better at this than us Brits 😆)

All lessons for us, I must say I have picked my fight carefully with Gold and will continually post contiuation pattern trades until price action tell's me there is no life any more.

I do not expect to be soon, but are open to being surprised if thats how the charts read.

Hence why all are Fundamental posts are for academic interest mainly, you can't trade off that unless you take MegaFrame view Like Buffet and even he got his 'Dollar short' timing badly wrong, he needs me as his TA? Given how frugal he is I am not sure he would pay well enough. 😆

I think he barely takes $100K in wages for himself got to respect the Sage.

Anyways Spread the Love.

 

[The Baptist]

"i think gold is toast up here..." my brokers opinion lol

All paper sellers (Bankers, Investment Bankers and CitiBankers ie US Government officials :cheesy🙂 hate Gold, subconsiously they know that it spells the doom of their own product in Valuation terms.

I Mean what kind of a scary reason see's people choose a limited use metal, that is never fully consumed, that pays no interest or dividend and has expensive security and carry costs.

P>S> - Dont ask Gordon Brown the great thundering fool - who successfully reeked more economic carnage on the British Public then any of the other morons.

What level did he sell our Gold at during the full swing of 'Liquidity living' decade'?

 

[N Rothschild]

long term view? So you were short once Baptist started this thread. You must have a sizeable stop. Obviously you must still be in, because your long term view hasn't changed.

By the way, a much better trader than I once said, you can't be bullish and not long. In other words, if you really do have a view of where price will go, then you should be trading that. If you're not trading that, it means either you don't really have an idea where price will go, or you're not very confident in your own idea. You can work out which one you are. It is all too easy to slag people off on forums. Much harder to suggest good trades, which the baptist clearly did. If you traded this short on that day, you're relying on the hope that 'eventually' it will come back down. And eventually it probably will. That doesn't take any skill whatsoever. Right up your street then.

i have no open position's on gold. i have done, and will again when time is right. Just as im sure baptist wasnt still holding longs down at $980 from $1020

 

[N Rothschild]

All paper sellers (Bankers, Investment Bankers and CitiBankers ie US Government officials :cheesy🙂 hate Gold, subconsiously they know that it spells the doom of their own product in Valuation terms.

I Mean what kind of a scary reason see's people choose a limited use metal, that is never fully consumed, that pays no interest or dividend and has expensive security and carry costs.

P>S> - Dont ask Gordon Brown the great thundering fool - who successfully reeked more economic carnage on the British Public then any of the other morons.

What level did he sell our Gold at during the full swing of 'Liquidity living' decade'?

so who is buying gold? the retail investor cant move a market against the institutional bankers/investors etc etc

 

[poborsky]

I find it hard to understand why some believe that investors are gonna dump the metal when the next leg down arrives. The crazy FED policies are driving the price up.
Print a few trillion, lend it to banks at next to zero interest who then lever it up, buy stocks and treasury bonds at higher interest rates and the govt use the money to pay the bills. Ponzi or what?
No lending for business so the economy goes under.

 

[N Rothschild]

seeing you love TA baptist. heres one for you! weekly gold, lovely divergence...

 

[Atilla]

All paper sellers (Bankers, Investment Bankers and CitiBankers ie US Government officials :cheesy🙂 hate Gold, subconsiously they know that it spells the doom of their own product in Valuation terms.

I Mean what kind of a scary reason see's people choose a limited use metal, that is never fully consumed, that pays no interest or dividend and has expensive security and carry costs.

P>S> - Dont ask Gordon Brown the great thundering fool - who successfully reeked more economic carnage on the British Public then any of the other morons.

What level did he sell our Gold at during the full swing of 'Liquidity living' decade'?

In many countries gold soverigns are very popullar. These are no different to pounds and pennies with various values.

I think an international gold coin is a possibility in years to come if we don't hurdle this financial crises.

Just imagine, no more currencies but just pure gold coinage. :idea: 👍

 

[N Rothschild]

even better on the montly!

 

[The Baptist]

i have no open position's on gold. i have done, and will again when time is right. Just as im sure baptist wasnt still holding longs down at $980 from $1020

Nope sure wasn't - always have a Stop Profit Target.

 

[The Baptist]

even better on the montly!

Some Times its amazing the significance people will attach to a single line. Above all other technical Set Ups, New Highs a repeated Pattern of Continuation patterns.

All indicators that mapped the rapid fall in Gold in our initial credit Collapse, flight to 'Quality' yup the USD, (Talk about Pavlovian response much like the Irish Vote :clover: recently on Lisbon Treaty). One more based on Fear than wisdom.

Clearly the Volatility of such a substantial downleg so abruptly will, make comparable moves seem less significant, We Haven't climbed $350 (lost 33%) in such a short time frame.

So MACD's will drift off given the Volatility such a move generated, both down and back up. Look at 'The Monthly' Pattern of the actual Candle Price chart, Pretty similar?

Instead of the relative assessment of a massive primary move as a derivative of the price action, which is by definition a lagging indicator anyway.


Finally I failed on My Euro trade my projection was 708Eur it peaked at 707,52 and has since pulled back and consolidate. Usually I place Profit Stops a Full 100 points below on Tragets ie Euro 106.95 - I didn't This time as Gold had made its target with ease.

So to avoid uneccessary time in trade and temporary respite for Bears, I sold at 704.13 Euro level. However I am not too gutted.

The trade was a Long from 676.00 with a stop at 672.65 - That makes it a Risk : Reward ratio of 3.35 : 31.5

Time to come over to the darkside chaps, you watched me predict and deliver a 1 : 9.40 Risk Reward trade in 6 trading days and looked the gift horse in the mouth? :idea:

:whistling

 

[N Rothschild]

i dont use indicators, just adding conjecture

 

[N Rothschild]

acording to a trader at cme main reason gold is up is on speculation of other countrys talking about a $ alternative..if these countrys then come out and say its not happening golds reversal will be swift and painfull!

 

[The Baptist]

acording to a trader at cme main reason gold is up is on speculation of other countrys talking about a $ alternative..if these countrys then come out and say its not happening golds reversal will be swift and painfull!

All this is excuses and , trader twaddle.

There is always retrospectively a story. Without an explanation, people feel uncertain so a variety of hearsay is cobbled together.

If this risk is so apparent why would the market not already reflect such to some extent.

Trade what you see, both of the more aggressive original targets were hit.

 

[The Baptist]

In many countries gold soverigns are very popullar. These are no different to pounds and pennies with various values.

I think an international gold coin is a possibility in years to come if we don't hurdle this financial crises.

Just imagine, no more currencies but just pure gold coinage. :idea: 👍

Sovereign to return ? people will start skimming them I fear.

 

[Atilla]

Sovereign to return ? people will start skimming them I fear.

No need to place sovereign between teeth to test flavour and weight.

Be an opportunity for a new gadget. Add an Application-Detector onto your ipod+scale and make a mint - pun intended... :cheesy: