Gold calls.Long term -medium term and intraday calls in gold is here !.

[thod00]

Thod, I am curious how many $ per contract will you make on 42 bets today and do you always close your position before opening a new one. I tend to follow larger moves but curious as to potential success of quick scalps on gold given the wider spread.

It varies. I hold until it starts to turn against me. This means I often close positions which would have been far more profitable had i held. I always close out and wait for the next chance. I try not to make any loss so today had about 85% wins but sometimes only making $20 on the trade. If it hasn't gone up a few minutes after I enter then I am looking to exit at whatever I can get. Am up $6500 on the day, but nerves are shot now so going to stop. The thing about scalping it needs constant screen time. I don't scalp silver simply because the spreads kill it, but EUR-USD is 2-2.5 pips for me so is ideal.

 

[bbillcee]

bad news...i have 2 shorts at 780...anyone think it is best to hold them or get rid now?

i'm short at 780 as well....i'm holding:|

from what i see rising wedge in 5 min....maybe it'll dump us

 

[mad mad world]

It varies. I hold until it starts to turn against me. This means I often close positions which would have been far more profitable had i held. I always close out and wait for the next chance. I try not to make any loss so today had about 85% wins but sometimes only making $20 on the trade. If it hasn't gone up a few minutes after I enter then I am looking to exit at whatever I can get. Am up $6500 on the day, but nerves are shot now so going to stop. The thing about scalping it needs constant screen time. I don't scalp silver simply because the spreads kill it, but EUR-USD is 2-2.5 pips for me so is ideal.

How do you scalp so effectively ? what system do you follow, if you can share with us....

99 out of 100 times i lost in scalping so very much eager to learn something new....

Thanks

 

[55mph]

It varies. I hold until it starts to turn against me. This means I often close positions which would have been far more profitable had i held. I always close out and wait for the next chance. I try not to make any loss so today had about 85% wins but sometimes only making $20 on the trade. If it hasn't gone up a few minutes after I enter then I am looking to exit at whatever I can get. Am up $6500 on the day, but nerves are shot now so going to stop. The thing about scalping it needs constant screen time. I don't scalp silver simply because the spreads kill it, but EUR-USD is 2-2.5 pips for me so is ideal.

thod, stick around.

 

[TrentT]

bad news...i have 2 shorts at 780...anyone think it is best to hold them or get rid now?

All I know is - Euro strengthening a lot now .. would indicate dumping
at this moment ..

Edit : On the other hand - Oil going down strongly - rock and a hard place for gold..

 

[55mph]

euros entered overbought territory

 

[TrentT]

One more indicator - gold has dropped below the upwards trendline
it has deen holding all day, so it may favour a downwards direction.

If it was me .. I'd hold, and if stoploss hit, so be it.

 

[OceanBleu]

euros entered overbought territory

ascending triangle is more meaningful here IMO, it has some room to move still

 

[55mph]

i just went long at 784.

tired of fighting the trend. when the shorts cover, i'm out.

 

[artful_dodger]

Does the daily spot on IG roll over automatically or does it just end the contract and deliver the profit or loss at that time?

One more indicator - gold has dropped below the upwards trendline
it has deen holding all day, so it may favour a downwards direction.

If it was me .. I'd hold, and if stoploss hit, so be it.

 

[55mph]

someone saw the reverse head and shoulder set up. good one!

 

[TrentT]

thod, stick around.

Yes, please do. 🙂. I can imagine the concentration it takes to scalp all day -
I do it anyway and I don't really scalp!

I suppose it's just trendlines and quick shorts and longs. I'm going to
start experimenting with small trades (low outlay to start).

 

[TrentT]

Does the daily spot on IG roll over automatically or does it just end the contract and deliver the profit or loss at that time?

Sorry, I'm not sure. I would guess it rolls over. I'm with Finspreads- Gold Rolling Spread -
It just rolls over into the next day - but I've never let it roll yet.

Typical! Euro and GBP on strong recovery, falling back a bit now.. good luck anyway 🙂

 

[artful_dodger]

Ok thanks TrentT...yes euro dropping and oil too but not gold...obviously drank some red bull this morning.

Sorry, I'm not sure. I would guess it rolls over. I'm with Finspreads- Gold Rolling Spread -
It just rolls over into the next day - but I've never let it roll yet.

Typical! Euro and GBP on strong recovery, falling back a bit now.. good luck anyway 🙂

 

[OceanBleu]

Ok thanks TrentT...yes euro dropping and oil too but not gold...obviously drank some red bull this morning.

787 is a key resistance area, if it does not break it, then this is a good time to short for quick scalp

 

[artful_dodger]

Well I managed to short down from the peak to get some refund but overall a bad end to the day. Should have tapped out far earlier.

 

[evarinc]

where is gold going from here up or down

 

[bbillcee]

Well I managed to short down from the peak to get some refund but overall a bad end to the day. Should have tapped out far earlier.

held from earliar now in green!!:clap::clap:

 

[55mph]

held from earliar now in green!!:clap::clap:

:smart:

 

[mikeSG]

dump signal given at 780.5 // stoploss 783.50.

Anyone else saw this?

Targetting 779, 776, 774, 765.