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mohsinqureshii

Gold Bullish or Bearish

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I'm long at 1609.5, stop at 01.25. If it spits me out, I will get back in at a higher or lower price.

 

Patuca, I am assuming you are short.

MM if i were you I would take my 9 or 10 points profit and get out of ES as vol appears too low to keep driving price up. You did good. :applaud:

 

I am still waiting on the ES. Gold turned out well on the intraday prediction i made and may even turn out ok on the daily swing prediction. Capt bob should have cleaned house by now on the intraday gold?

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:cheers: as concerns my trade in the ES am i allowed to move my stoploss? I made a tactical ERROR in stoploss placement and am getting close to being stopped out. Of course, i am asking before the stoploss gets hit.

 

I came very close to getting taken out. You do what you need to do.

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MM if i were you I would take my 9 or 10 points profit and get out of ES as vol appears too low to keep driving price up. You did good. :applaud:

 

I am still waiting on the ES. Gold turned out well on the intraday prediction i made and may even turn out ok on the daily swing prediction. Capt bob should have cleaned house by now on the intraday gold?

 

Hi Patuca

 

Yep .Long gone. My wife is already spending the money.

Now I have to start all over :confused:

 

I would like to take my hat off to Mighty Mouse

He called the trade correctly..... in advance

If hes got 10 points @ $25 x10 contracts= $2500 . Fantastic :)

Thats R25000 in my currency. Enough to buy a very good horse. ;)

And maybe hes got a bit more , and maybe hes still holding.

regards

bobc

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Hi Patuca

 

Yep .Long gone. My wife is already spending the money.

Now I have to start all over :confused:

 

I would like to take my hat off to Mighty Mouse

He called the trade correctly..... in advance

If hes got 10 points @ $25 x10 contracts= $2500 . Fantastic :)

Thats R25000 in my currency. Enough to buy a very good horse. ;)

And maybe hes got a bit more , and maybe hes still holding.

regards

bobc

LOL women can spend money fast.

 

MM still hasn't gotton out..at least he hasn't reported it. I would have grabbed my 10 points profit. I am still in the ES and expecting it to go down over next few days. My trade was not an intraday trade but a swing trade from a day chart. I still expect the ES to head south. I am not stopped out ...yet....:)

 

From an intraday point of view MM hit the direction correct at least partially as he was expecting to add to his long around 1635..1640..and on up. But because of vol if I were him I would grab my intraday profits now. He could always jump back in if it heads towards 1635 which i doubt it will.

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then on the other hand MM may be playing a swing trade from the daily chart like i am and he is expecting it to continue up tomm and next few days. that would make sense as the chart i posted was a daily chart for all to look at and i indicated clearly my trade was a swing trade from the daily chart when i gave my entry points. I was not sure if MM was referring to an intraday trade for today and a swing trade over the next few days. That was never clear to me. But it would make sense that he meant a swing trade from the daily chart and if so then it makes sense why he is still holding. I am sure he knows what he is doing. I am just not sure if he meant today he would add at 1635 then..1640...etc. I suspect he mean't over the next few days:confused: :confused:

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LOL women can spend money fast.

 

MM still hasn't gotton out..at least he hasn't reported it. I would have grabbed my 10 points profit. I am still in the ES and expecting it to go down over next few days. My trade was not an intraday trade but a swing trade from a day chart. I still expect the ES to head south. I am not stopped out ...yet....:)

 

From an intraday point of view MM hit the direction correct at least partially as he was expecting to add to his long around 1635..1640..and on up. But because of vol if I were him I would grab my intraday profits now. He could always jump back in if it heads towards 1635 which i doubt it will.

 

Dear Patuca

My friend ...

Remember when we drank Tequela on the beach......

Remember when we looked at all the girls ......

Remember when I said ....TAKE YOUR GOLD LOSES AND START AGAIN

Do you remember?

Me neither :rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:

BUT

Your friend

Bob

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If we get an afternoon push up with alot of vol with it breaking over 1630 then MM probally has the direction right and I am toast on this ES trade. But as of now i am still seeing south for the ES according to the secret code in the daily chart :rofl::rofl:n

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Dear Patuca

My friend ...

Remember when we drank Tequela on the beach......

Remember when we looked at all the girls ......

Remember when I said ....TAKE YOUR GOLD LOSES AND START AGAIN

Do you remember?

Me neither :rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:

BUT

Your friend

Bob

LOL i don't trade paper gold....i was just telling you what i would do on a daily swing gold trade and a daily intraday gold trade. You requested the info and if you followed the intraday instructions you made money which your wife is now spending..:rofl: the day swing gold trade has yet to be realized.

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capt Bob my previous chopped in half bar pst # 557 refers to swing trading on a daily chart. Now if I were looking at intraday trading on a 5 min chart say for just tomm i would jump in long on any break of the last high (i.e.) one or two tick break. Stop loss if one uses one I would place one tick below the low of the reversal bar i.e. The 1234 bar. Now here is what i would do: Exit one half of position on any two legged rise. I suspect twice the reward for the actual risk is probable. maybe even more. I would exit rest on any decent profit after the two legged rise. Of course, I would manage the trade. I would try to get at least a 1:1 r/r depending on ACTUAL risk, not initial risk (i.e. Stop loss) i would rejoice AFTER profitible trade is completed...cry if i get stopped out.....:helloooo: :cool:

 

capt Bob if you followed my opinion on the intraday gold trade you entered long at 1234.90 (1 tick over fridays close) and if you exited your total position at 1255 as you said that was your max then you made 20.1 points. Gold made a low of 1224.1 so your actual risk was 1234.90 - 1224.1 = 10.8 pts. Your R/R was nearly 2:1 that is a good intraday positive traders equation. You did good ..congraulations! I wouldn't tell my wife next time if i were you. The daily swing trade in gold has so far not materialized today.

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MM if i were you I would take my 9 or 10 points profit and get out of ES as vol appears too low to keep driving price up. You did good. :applaud:

 

I am still waiting on the ES. Gold turned out well on the intraday prediction i made and may even turn out ok on the daily swing prediction. Capt bob should have cleaned house by now on the intraday gold?

 

you are suggesting that I get out of a winning trade while you stay in a trade that is down 20 points?

 

is that because even though it is going up, it really should be going down?

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capt Bob if you followed my opinion on the intraday gold trade you entered long at 1234.90 (1 tick over fridays close) and if you exited your total position at 1255 as you said that was your max then you made 20.1 points. Gold made a low of 1224.1 so your actual risk was 1234.90 - 1224.1 = 10.8 pts. Your R/R was nearly 2:1 that is a good intraday positive traders equation. You did good ..congraulations! I wouldn't tell my wife next time if i were you. The daily swing trade in gold has so far not materialized today.

 

You are correct

But I only got in at 1241 .and out at 1255.

Waste of a make up day.

regards

bobc

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you are suggesting that I get out of a winning trade while you stay in a trade that is down 20 points?

 

is that because even though it is going up, it really should be going down?

yes, i suggest get out if you are doing an intra day trade. Why give back 10 points? It has already dropped down to 1610.75 (almost to your entry) since i mentioned to you getting out. Of course, if you are day swinging and not intraday swing trading then of course it makes sense for you to stay in. I am just not sure if you are intraday trading or daily swing trading? Perhaps you could clarify that?

 

I am daily swing trading and still see the move as south. It is basically still a sideways market from a daily chart. :beer:

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WARNING: MM this is getting mighty close to turning the major trend south for the rest of the day. So, are you intraday trading or swing trading from a daily stand point off a daily chart?

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Hi Patuca

Yes . I was referring to you and you were not scared to reply , and reply with very good comments. You are a good person. I think just lonely , living on your own in the jungles of Belize.

thanks capt Bob...helps the ego...many don't like me...actually i am not in Belize at the moment but in the States in the State of Alabama. I have been doing some fishing on the tallapoosa river. It is nice to get away from people...they make too much noise for me..it is quiet on the river.

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yes, i suggest get out if you are doing an intra day trade. Why give back 10 points? It has already dropped down to 1610.75 (almost to your entry) since i mentioned to you getting out. Of course, if you are day swinging and not intraday swing trading then of course it makes sense for you to stay in. I am just not sure if you are intraday trading or daily swing trading? Perhaps you could clarify that?

 

I am daily swing trading and still see the move as south. It is basically still a sideways market from a daily chart. :beer:

 

I was filled at 330 my time. i plotted out future adds. I never intended this to be a day trade.

 

I don't day trade es or anything for that matter.

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I was filled at 330 my time. i plotted out future adds. I never intended this to be a day trade.

 

I don't day trade es or anything for that matter.

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??

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hats off to capt bob for predicting gold intraday correcting and making some money for his wife! good job. you nailed that one. we agreed on gold so i guess i am right too??

 

PS don't tell your wife next time....

 

i have not heard from mits lately since he was in a bad mood and got on my case over havard english. has anyone heard from him? hope he is ok.....

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WARNING: MM this is getting mighty close to turning the major trend south for the rest of the day. So, are you intraday trading or swing trading from a daily stand point off a daily chart?
south it tis...if i were you swing trading off a daily chart i would move that stoploss down past 1604.. 5 or 6 point stoploss is too tight for daily swing trading IMO. If you move it down you have a 45% chance the ES will turn back up for you. i only have a 55% chance it will continue south.. I still stick with that view.

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You still gonna keep that stop? You will probally get taken out in night session.

 

Not changing anything. If I get stopped out, I will look to get back in higher. I have time to do these trades this week; otherwise, I trade a lot longer term than this. I will give this until about next Monday.

Edited by MightyMouse

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Not changing anything. If I get stopped out, I will look to get back in higher. I have time to do these trades this week; otherwise, I trade a lot longer term than this. I will give this until about next Monday.
ok but it looks like you ought to give this trade a fighting change by opening up the stop loss. A 5 pt stoploss on a swing trade from a daily chart is a pretty small stop loss and you will most likely get taken out on these 2 contracts. That will put you losing 5 points on two contracts. At one point you were ahead about 10 pts on each contract. As of market close today you have an almost 50% chance of the ES going in your favor but it seems to me you need more wiggle room unless you in fact do think you have a higher % probability, so you are comfortable with a measley 5 point stop loss. I guess everybody has their own way of trading but i would have grabbed 10 points as long as my traders equation was profitable and then re-entered later if i figured my original profit objective was still reachable.

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ok but it looks like you ought to give this trade a fighting change by opening up the stop loss. A 5 pt stoploss on a swing trade from a daily chart is a pretty small stop loss and you will most likely get taken out on these 2 contracts. That will put you losing 5 points on two contracts. At one point you were ahead about 10 pts on each contract. As of market close today you have an almost 50% chance of the ES going in your favor but it seems to me you need more wiggle room unless you in fact do think you have a higher % probability, so you are comfortable with a measley 5 point stop loss. I guess everybody has their own way of trading but i would have grabbed 10 points as long as my traders equation was profitable and then re-entered later if i figured my original profit objective was still reachable.

 

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?

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