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mohsinqureshii

Gold Bullish or Bearish

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I appreciate you attempting to help me manage my trade, but the only time I move a stop loss is if I am bailing out of a position; I simply exit the trade rather than move my stop. I can't think of a time when I moved my stop further from my entry that turned out to be a good idea.

 

i have some questions about your trade:

 

When I was up 10, you were down 25-26 and you thought it a good idea for me to get out and for you to move your stop to 1250 area. Your trade only went about 1 point in your favor, why did you increase your risk from 25 to almost 60 es points? Why not bail out of the loser and get back in if the trade equation for your short was still favorable?

i moved my stop because it was an error in the begining to start with. It was a stop for intraday trading. I somehow just miscalculated my stop and this morning when i realized it i moved it. As far as my risk ...well it is a swing trade from a day frame so i go for bigger risks. Of course i realize i could get toasted. Actually.. either one of us cold get toasted tomm. I just think it still slightly favors south.

 

I too move a stop if i become convinced the conditions no longer warrant the position held. I will move to bail out. And i will move a stop if i placed it wrong to start with by mistake as in this case.

 

Either way i never hit my original erroneous stop anyway.....

Good luck

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TRYING TO FIND A BOTTOM

Will all the technical traders have a look at my chart.

The last time the RSI fell to -20 , it bounced back nicely.

Could I use this to find a bottom if it bounces again off -20?

regards

bobc

5aa711eec9774_Gold_RSI.png.54542a96e490cc301d7a2929595122a9.png

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i moved my stop because it was an error in the begining to start with. It was a stop for intraday trading. I somehow just miscalculated my stop and this morning when i realized it i moved it. As far as my risk ...well it is a swing trade from a day frame so i go for bigger risks. Of course i realize i could get toasted. Actually.. either one of us cold get toasted tomm. I just think it still slightly favors south.

 

I too move a stop if i become convinced the conditions no longer warrant the position held. I will move to bail out. And i will move a stop if i placed it wrong to start with by mistake as in this case.

 

Either way i never hit my original erroneous stop anyway.....

Good luck

 

I don't take trades that will toast me. I understand completely that I could still get stopped out for a loss, but it is a smaller loss than it was when I started. And my trade ( any trade) is most vulnerable right at the entry. A good trade, to me, is a trade that has reduced financial risk over time.

 

If I am still able to hold onto my trade if you get stopped out at +-1650, then, at that point, I will be up about 6500 with my adds. Lots of ifs, but not bad for a trade that started out as an $800 risk and is now reduced to about $400.

 

The likelihood is that I won't still be in it at 1650ish because of time constraints and at 1605 I know I am out.

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well MM I hate you got stopped out this morning but that is what stop losses are for :) i continue with my trade. I still think she will head south..slight edge in my favor..but edges can disappear fast as we all know...you got burn't a little..i could end up getting toasted so you may end up better off than myself anyway...however i still stick with the direction being south once it breaks out of this sideways daily range. that is my prediction i see in the secret code on the chart....

 

Thanks for participating...nobody else did...not even db with his prediction boxes and mits with his price rotation/perfect mathematical formula/taylor 3 day cycle. Capt bob was too busy looking at the stars and the moon and going over all the receipts when his wife spent his gold trade money. Steve46 with reversion theories was no where to be seen even though he would have cleaned house with this sideways movement. he will probally say he did anyway...superior intellingence you know ...amongst a bunch of infantiles and adolescents...

 

You, and only you, took the challenge...i respect that.

 

I may be crying over next few days or i could be rejoicing??

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MM do you know why you got taken out at 1605 on that 7:30 bar.

 

Sure. Because the market met my stop. I would do what I did 1000 out of 1000 times in exactly the same way.

 

We are trading completely different timeframes with very different styles.

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ok thanks for the clarification. You are definetly still good and may be helped with a last hour surge..if that happens..

 

Capt Bob is done for the day...wife is out sending money. He is looking at coffee. Got any recomendations for him?

 

I don't trade coffee but i could take a peek at a chart if he would send it. Since he likes intraday trading a 5 minute chart will tell the story..might even have a secret code??

 

Hi Patuca

After that brilliant detection on "Beyond Taylor" ( LSTTT in a girl ):cool:I think you should be called Detective Pat

Ok I am getting all my facts together on Coffee, but I might have to start a new thread, which wont go far.:offtopic: Nobody trades Coffee. Perhaps you can spot the secret code. :confused:

But no moving Stop losses :roll eyes:

regards

bobc

PS Do they grow Coffee in Alabama?

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it seems to be related with the reallocation in managers portfolio............normally would have some clues by looking at aussie, and if this is true then I guess aussie is about to turn the downtrend now......it remains to be seen

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Hi Detective Pat.

I forgot to ask in my previous post

I hope you are'nt still LONG in Gold?

Or have you moved your stop loss ? :haha:

Kind regards

bobc

i never was long in paper gold..remember i don't trade paper gold..i thought you was out your position and your wife spent your money?

 

moving stop losses....your lucky i had one to move! i don't like the darn things...but of course i am a strange trader...many don't like me...i don't care...:cool:

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Sure. Because the market met my stop. I would do what I did 1000 out of 1000 times in exactly the same way.

 

We are trading completely different timeframes with very different styles.

ok got you. I guess i should rephrase it better. do you know why it took you out by two ticks and then reversed back giving you another 9 points profit if you would not have been stop lossed out?

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i never was long in paper gold..remember i don't trade paper gold..i thought you was out your position and your wife spent your money?

 

moving stop losses....your lucky i had one to move! i don't like the darn things...but of course i am a strange trader...many don't like me...i don't care...:cool:

 

Hi Patuca

I am out....no position

Half day in New York affects my market + no market tomorrow., and half of the US will take an extra days leave on Friday

I am getting a possible Major TURN on the US $ from Friday.

What would affect the dollar?Gold would do the opposite.

Still looking for a bottom.

regards

bobc

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ok got you. I guess i should rephrase it better. do you know why it took you out by two ticks and then reversed back giving you another 9 points profit if you would not have been stop lossed out?

 

Actually 1 tick. 1 tick is only worse than the same tick.

 

I knew going into the trade that there was going to be resistance from 20-40. That is the major reason; however, if there was enough demand, then it could have pushed through, but there wasn't and there is nothing but chop.

 

If I were to take a trade in es. i would short on a sell stop somewhere around 99 or buy it above 1610, but i do not have the time to mess with it, given the max time i want to give it and the volume read is just lousy right now anyway. So, my trade is no trade.

 

I will only trade es within a particular timeframe.

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Hi Patuca

After that brilliant detection on "Beyond Taylor" ( LSTTT in a girl ):cool:I think you should be called Detective Pat

Ok I am getting all my facts together on Coffee, but I might have to start a new thread, which wont go far.:offtopic: Nobody trades Coffee. Perhaps you can spot the secret code. :confused:

But no moving Stop losses :roll eyes:

regards

bobc

PS Do they grow Coffee in Alabama?

detective pat works for me I always thought i would make a good detective....mits and i have got to settle down..i did not realize the amount of ladies lurking on the forum...we are terrible examples of decent gentleman ways...i think i am going to have to reform..not sure mits can?:rofl: :rofl: :rofl: actually mits is a much more quality poster. He actually post things of substance on trading..most of what i post is cow manure (how is that for my first act of reform). so i fore warn all lurkers of either gender...DO NOT TAKE MOST OF WHAT I SAY SERIOUSLEY. GENERALLY IT IS FAULTY..VOID OF ANY USEFULNESS AND A TREMENDOUS WASTE OF YOUR TRADING TALENTS..DO NOT DO WHAT I SAY AND DO NOT DO WHAT I DO.

 

you will be called all sorts of names ...among them...idiot...idiot trader...infantile...stupid...jerk...novice....punk....no clue....loser...stubborn...and many other names that the new reformed I cannot say in the presence of ladies lurking on this forum.....etc

 

these things will damage you psychologically (even if you don't care) and you will be constantly having to get away from people to a place of solitud and rebuild your ego to remain a functioning trader.

 

That said, coffee is in a daily range. I would be shorting around 123.00 to 124.00 range and covering around 120.00 119.00 ...then reversing..wash ...rinse ..repeat until breakout of range. If i use stop losses then i would have them place far enough out of top and bottom of the range that minor breakouts would not clip my position. Ranges are hard to trade because they require bravery. It is hard to short when price is headed backup to the top of the range and looks like it will break out. Or go long when price is headed to bottom on a small but strong trend and looks like it will break south. the one consolation is that most breakouts fail. Eventually, one will get you and your money..but until then ranges may likened to ATM machines. taylors methologies (may he rest in peace) and reversion tactics work best in ranges..mucho mucho dinero can be made in ranges.....

 

As concerns coffee in the State of Alabama. i have seen no coffee bushes on the banks of the tallapoosa river. in the stores they sell bags of 8 o'clock columbian coffee which is a REAL eye opener.

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Actually 1 tick. 1 tick is only worse than the same tick.

true....

 

i call this phenomena which happens over and over and over all day long in the markets.. The "perversity of the markets". market goes down or up 1 to 3 ticks through ones well calculated stop then immediately reverses to soar in the opposite direction leaving one in the dust...licking their wounds ...wondering what they did wrong and if the market was out to get them, or what, because it sure looked like it...

 

anyone else care to chime in on the perversity of the markets...??

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Well Patuca,

What can I say?

You have an amazing sence of humour.

Strangly enough , women rate a sence of humour as sexy ,and more important than a tennis court.

Ha. You thought....

BUT

Second time I am telling you

You have to start being nice.

And stop chewing tobacco

regards

bobc

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here is a 5 minute chart of recent ES day activity. The orange P's are LONG perversity points and the red P's are short perversity points. The purple P is where our friend MM go stopped out on his trade. Is there anything can be deduced from this chart as to why, or where, or how, this happens over and over, everyday, in every market?

 

comments please..i have gotton really :angry: at the markets.. in the past...about this cow manure....i know jesse L said he never did get mad at the markets ..that it would do no good...but then he ended up with a bullet in his head... by his own hand...me thinks i'd rather get mad.. i am certainly not glad for the perversity points..are you???

Perversity of the Markets.pdf

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here is a 5 minute chart of recent ES day activity. The orange P's are LONG perversity points and the red P's are short perversity points. The purple P is where our friend MM go stopped out on his trade. Is there anything can be deduced from this chart as to why, or where, or how, this happens over and over, everyday, in every market?

 

comments please..i have gotton really :angry: at the markets.. in the past...about this cow manure....i know jesse L said he never did get mad at the markets ..that it would do no good...but then he ended up with a bullet in his head... by his own hand...me thinks i'd rather get mad.. i am certainly not glad for the perversity points..are you???

 

It really doesn't warrant a thought. Out and move on. If you are pissed, then wait and move on. Either way, move on. Losses are a part of trading. The impact of losing a few points on a single trade when you count up your gains and losses at the end of the year is meaningless. especially if the trade was done properly. It's not too fruitful to think of what you could of or should of done if you know what you are doing.

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It really doesn't warrant a thought. Out and move on. If you are pissed, then wait and move on. Either way, move on. Losses are a part of trading. The impact of losing a few points on a single trade when you count up your gains and losses at the end of the year is meaningless. especially if the trade was done properly. It's not too fruitful to think of what you could of or should of done if you know what you are doing.
well then i guess there no need for you to "think" about it. "Just do it" as nike says.

 

However, others might think it useful to think about it??. Then again i may be a dipstick .20 short of a dollar:rofl: :rofl:

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here is a 5 minute chart of recent ES day activity. The orange P's are LONG perversity points and the red P's are short perversity points. The purple P is where our friend MM go stopped out on his trade. Is there anything can be deduced from this chart as to why, or where, or how, this happens over and over, everyday, in every market?

 

comments please..i have gotton really :angry: at the markets.. in the past...about this cow manure....i know jesse L said he never did get mad at the markets ..that it would do no good...but then he ended up with a bullet in his head... by his own hand...me thinks i'd rather get mad.. i am certainly not glad for the perversity points..are you???

 

Hi Patuca

I think these pervesity points, which I call pivots , are just the ebb and flow of the market.Random noise in a low frame time 5 m chart.

And without the open / close of each bar visible I would not be able to scalp the short trends.... Brookes style.

And without the long term trend visible, I would not be able to swing trade

And without a TURN point., I would stay out.

regards

bobc

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well then i guess there no need for you to "think" about it. "Just do it" as nike says.

 

However, others might think it useful to think about it??. Then again i may be a dipstick .20 short of a dollar:rofl: :rofl:

 

Out of curiosity, why do you think, while the market is rising, that the odds favor the downside? Are you wrong or is the market wrong?

The market could go down, as it did when I was stopped out, and still be higher than your entry.

 

Also, is your 1650 stop the final move or will you possibly move it if we reach 1650?

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Patuca has gone away for a long weekend , leaving us all in suspense, wondering what we cant see in his chart.

So heres some useless information

Tomorrow the earth is at its furtherest point from the sun. Thats called aphelion.

You would think it would be a bit colder, but not so. It makes summer in the US 5 days longer and I predict lots of rain. :helloooo:

And Gold ....... its goes sideways.:(

regards

bobc

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A lot of things changed for a relatively small down move.....

 

Specially sentiment is now in favor of the bulls.

the manipulation of CME + bullion banks + central banks + paper gold, made price go to this low and now to me its time for the bulls to make their move.. its really simple and depends on what they do.

Lets suppose they make a up move above 1300, gold price suppression might set in again, i don't know how far they will want to keep doing this. it really depends on their persistence.

 

I think you need to have a lot of capital to withstand losses if you don't want to get hurt in these games and speculate on price of gold......

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