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

[sujithsstorock]

Stoploss hit.Lose of 4 $.

 

[Mr.J-Arthur]

My profit taking point was hit in bed and my long netted $2.30

 

[AC26XP]

Wow!
I am not a day-trader, rather a swing trader that for the past couple months has been taking advantage of hedging those stocks that benefit from a weakening dollar, higher gold, and higher oil... and, I have found this thread very informative and enlightening.

With that being said, in addition to intra-day-trading gold, do any of you also trade gold company stocks?

My current favorite is Eldorado Gold (EGO:AMEX; ELD:TSX), which has had a steady up-trending channel for past year-or-so, consistently straddling the 50DMA only to go on to higher highs.

If you guys also trade the gold company stocks, what are some of your favorites... either intra-day, swing trade, or long?

Thanks !
AC

 

[Mr.J-Arthur]

Yes I have traded EGO and even sold options on EGO. I also have held HL (Hecla Mining).
EGO is a decent stock, but it moves to slow.

I stopped trading and investing in stocks because I'm looking for higher leverage (futures).
I'm more of an intraday trader, but sometimes I'll swing a position.

 

[Mr.J-Arthur]

We're in a range between 923-927
Go long @ 923 stoploss 922

Sell short 927 stoploss 928-930

 

[sujithsstorock]

Well said arthur . Sorry due to some reasons i could not update any calls today.I had a buy at 919 $ and exit out at 926 $.

 

[CrashGuard]

I had a buy at 922 and exit at 925.5

 

[Mr.J-Arthur]

S.Rock-awesome trading day for the most part it sounds like.

CrashGuard-Do you trade mini contracts (YG) or 100oz (ZG)? Nice profits for all it sounds like!

 

[CrashGuard]

I'm trading in mini contracts. Profits was nice imo $3.50, which is enough for me

 

[Mr.J-Arthur]

You'll never go broke taking a small profit.
And when you lose in a mini contract it doesn't hurt so bad.
I was at $116 profits with 5 winning trades, then I got smacked up on 2 trades which brought me down to a modest $60 profit..Enough for me, because yesterday I learned a hard lesson of over trading (and I now trade the mini contracts).

How many lots do you trade usually? I usually do 1 lot, unless I add to a strong winner.

 

[CrashGuard]

I don't know what you mean lots. I do around 10 trades, but I do them in step formation looking at the where the prices are going. Minimize losses, but that also minimize profits. imo it is better to be safe than sorry Made around $200 profit today.

 

[Mr.J-Arthur]

1 lot=1 contract.

$200 profit is nice. I'm getting hooked on gold futures because it's pretty easy to make 1-15% in a day. Which markets do you trade? I usually trade London/US and sometimes Hong Kong and australia (but it's very low volume).

 

[sujithsstorock]

Risky >>

sell gold at 919-920 $. Stoploss 924 $.
Targets 917.2 $-915.5 $-913 $-910.5 $-908 $.

Use trail stoploss strategy along with partial booking.
.So shorting gold becomes risky.Risky traders can set stoploss at 926.5 $.

stop of 924 $ was hit.But wat i did was, kept a gold mini sell at 919.5 $ , then 923 $ kept one more. But it eventually hit 925 $ high and took 'u' turn.(i had set 926.5 $ as stoploss).Then while coming down, i kept 2 more mini at 923.5 $.Covered 3 mini at 920.5 $.And remaining one at 918 $(low was 916 $). All taken out with profit .

Then i had 3 gold mini buy at 919 $.It was a rally. So i took out each lots every 2-3$ profit.

this was the trade strategy i used.

 

[sujithsstorock]

Buy gold now at 929. Stoploss 927.5 $. Target 933$ -936-942-946 $-950 $.

 

[Mr.J-Arthur]

Good run bro. Sounds like your winning trades worked out very well.
I did 5 profitable trades and 2 little losing trades.

Did you ever explain your indicators for entry or other technical signals or gut feeling?
I personally trade an easy system based off of two SMA's (crossovers) and support/resistence.
I'm using a MACD to confirm trends..Nothing special.

 

[sujithsstorock]

I go for pure technicals. Trendlines. . . Elliote wave . . . Hourly rsi divergence . . . Fibonacci is the main tool that i use.

 

[sujithsstorock]

For direction >> i prefer elliote wave ,euro and crude oil.

For targets >> i use fibonacci.

For stoploss >> i use support or resistance trendlines

For entry >> i use rsi or pure guts.

 

[sujithsstorock]

RENEWED call


short at 930 $ with stopat 933.5 $. Targets 928-926-922-919-916-912 $.


If stop hit , then

buy at 934.5 $ with stoploss 932 $. Targets 936-940-946-949-955 $.

 

[sujithsstorock]

RENEWED call


short at 930 $ with stopat 933.5 $. Targets 928-926-922-919-916-912 $.


.

first target hit. Near our second target of 926. Current price 926.8 $. Profit of 2 $.

 

[Mr.J-Arthur]

Sell that weakness and Buy the strength. I'm not too late to short..I hope. I'll set stop limit and hit the hay. zzzz.