Gold Bullish or Bearish

[Patuca 13]

I am turning bullish on gold and have the feeling that there will be a severe plunge in the stock market soon. Just a feeling. I know it's not good to rely on feelings but I handle them with options:)

we are a minority..:haha:

[Patuca 13]

Hi Patuca

No. But it sure would be nice

 

Please go back and read post 788. Price and time must agree on a date. And thats next week.

I dont know if or when it will happen, but I'm prepared .

regards

bobc

sorry i did not see that post or paid no attention to it as I am getting old...and miss details...etc. i was thinking you were expecting a breakout today hence my comments...i see you are not trading the intraday or even the daily range..i must learn to keep my mouth shut and read more...rather my typing fingers quiet.. i must take some medicine???maybe suntrader is right???

[SunTrader 10]

I'm bearish until price says otherwise.

[Patuca 13]

I'm bearish until price says otherwise.

sounds reasonable..now, how will you know when price says otherwise?

[tradingwizzard 10]

sounds reasonable..now, how will you know when price says otherwise?

 

....when SL is hit.....if there is any, as it seems to be fashinable not to have one :helloooo:

[SunTrader 10]

.....

Mainly because , like all GANN Theory, its badly written.

......

Might like this:

 

Unlocking the secrets of Gann: Will the market crash in August?

[SunTrader 10]

Meantime I think 1320 recent support (April'13) is now resistance, boll band is tightening and Gann level around 1346 will be formidable obstacles to get through:

Edited July 20, 2013 by SunTrader

[Patuca 13]

....when SL is hit.....if there is any, as it seems to be fashinable not to have one :helloooo:

LOL :rofl: that is a good one...

 

Lets flip a coin..place a trade and a SL...the if weez right weez right...if weez wrong weez wrong...our SL will tell us...actually there is a thread on TL doing this as i type...just for fun of course??

 

I actually heard of a guy that was profitble in the markets using a pendulum. If it went left he bought and placed his stop. If right, he sold and placed his stop or vice versa don't remember for sure. that was the extent of his analysis on price direction..he actually was a profitible trader doing this....

 

ALERT.....ALERT...ALL TRADERS...it is only with stop losses placed that you can determine market direction...oops..you ain't supposed to try to predict...i just keep forgetting...here we go again..

 

ALERT..ALERT..ALL TRADERS.. You must only react to the market...never predict..never attempt to predict...just place those stops...they will tell you if your ...shhhh..prediction is correct....

 

GRAIL=Stoplosses

 

NOTHING ELSE IS NEEDED..Will some body please write a book on SL's and get rich.

Edited July 20, 2013 by Patuca

[Patuca 13]

Might like this:

 

Unlocking the secrets of Gann: Will the market crash in August?

WELL....now i have been saying the plunge is coming haven't I?

 

Helicopter ben and crew keep messing around with fate trying to genetically modify it....they will only succeed in creating a monster which will die and the DNA will start all over again..this time correct...however, the problem is the monster will take many dragons down with it and the dragons wiil pull the sheep down with them. Please make haste and study who the dragons are and who the sheep are.. AND make sure you are neither....TIME is running out...PRICE will plunge.

 

Warning: do not listen to me. Ignore what i say..do not act upon anything i say. never do what i say do and NEVER EVER do what i do.

 

I will say hello to your SL MM as i wiz by........

[Patuca 13]

The gold ATM MACHINE is looking great to short near open of next session. But might want to let it trade up abit to top of the range first. The columbian liquid gold ATM machine (aka coffee) is still in repairs but may soon be fixed and be all ready again for dispensing cash.

 

There are many many ATM machines. In fact they are all over the place..the problem is people just don't know the pin number to get the machine to dispense cash..i have given out free pin numbers but alas no one wants them:confused: no one even believes that it could be as simple as having a 4 digit pin number and the card to get the machine to spit out the cash..

 

I shall speak plain and without riddles...

 

1) the card is the context of price...namely RANGE. I SHOUT ONCE AGAIN..THE RANGE.

 

2) The pin number is the TACTIC USED to TRADE THE RANGE. I SHOUT AGAIN FOR THE HARD OF HEARING...the TACTIC. boys..THE TACTIC.

 

For deeper understanding i direct you to my previous posts and to the following picture.

 

Thanks

 

Patuca

Edited July 21, 2013 by Patuca

[bobcollett 10]

what contract you trading..my data feed only shows 1297.1 as high

 

Fridays high. 1298.1 at 10am

Its not my platform .

[bobcollett 10]

 

I shall speak plain and without riddles...

 

 

Patuca

Hi Patuca

The "riddles"are getting worse.....or am I the only one who does does not understand your method?

 

Unless you dont really have a method...no offence meant, just looking for clarification.

Perhaps zdo could help with interpretation of the "riddles" :missy:

 

I am sure you wrote that you seldom use Stops.Now you use stops to see a change in trend. So you reverse your position at each stop ....the RANGE.

So all trades are a scalp.

Scalps dont make the BIG money... at least not for me

Unless you are Al Brookes and your size is 200 contracts for a 6 point rise.

(I am dubious about Brookes even trading. He never discloses his trades.)

I wonder if I have said anything worthwhile?

kind regards

bobc

[Patuca 13]

Hi Patuca

The "riddles"are getting worse.....or am I the only one who does does not understand your method?

 

Unless you dont really have a method...no offence meant, just looking for clarification.

Perhaps zdo could help with interpretation of the "riddles" :missy:

 

I am sure you wrote that you seldom use Stops.Now you use stops to see a change in trend. So you reverse your position at each stop ....the RANGE.

So all trades are a scalp.

Scalps dont make the BIG money... at least not for me

Unless you are Al Brookes and your size is 200 contracts for a 6 point rise.

(I am dubious about Brookes even trading. He never discloses his trades.)

I wonder if I have said anything worthwhile?

kind regards

bobc

I was poking fun of tradingwizzards post about "not using stops becoming fashionable" as his post was a poke at guess who? Me! Patuca...also a poke at suntraders post who said that "he was bearish until price says otherwise" .....and tradingwizzards reply to my question to suntrader ..."how do you know when price says otherwise"? Of course i probally just have a persecution complex..:rofl: :rofl: :haha:

[Patuca 13]

In my dipstick opinion that nobody listens to ..always use stops in scalps but just out of stop gunning range....for decent money use size when scalping...longterm position can be with or w/o stops...ones choice...or simply mental stops.....maybe a puke point stop for comfort:haha:

[Patuca 13]

As for brooks he actually has some sound principles ...if one can figure them out ..as for disclosing his trades..well i thought he explained why he couldn't or wouldn't...:rofl::rofl: do you remember what he said about that?

 

Sound principles.....DB and windbag Why? ...IF one can figure either out...:rofl:

 

But i have a more important question i would like to pose to ANYONE..

 

What is an asset bubble? In other words, how do you know when an asset or a group of assets is in a bubble or have become a bubble?

 

Thanks for comments..

 

Please keep in mind..every dog has his day...picture will explain in detail..

 

SO WHAT IS A BUBBLE IN AN ASSET?

 

Patuca

Edited July 21, 2013 by Patuca

[sergso 10]

What is an asset bubble? In other words, how do you know when an asset or a group of assets is in a bubble or have become a bubble?

Patuca

 

When a taxi driver, a barber, a stripper in a club or your son's girlfriend to name a few in a club tells you to buy something it is in a bubble.

[Patuca 13]

When a taxi driver, a barber, a stripper in a club or your son's girlfriend to name a few in a club tells you to buy something it is in a bubble.

Good.... So if they ..taxi driver..barber...etc ..tell you not to buy then it is probally a good buy?

[bobcollett 10]

Might like this:

 

Unlocking the secrets of Gann: Will the market crash in August?

 

Hi SunTrader

Now I see how you can stay so calm in this rising market

You are trading Futures

regards

bobc

[Patuca 13]

Hi Patuca

 

So all trades are a scalp.

Scalps dont make the BIG money... at least not for

kind regards

bobc

capt Bob casinos (quite the lucrative business by the way) make their profits by having a very slight edge over their gambling guests. It is called the house edge. It is based on math and probabilities...and well...maybe a few other things :rofl: It is basically a tiny statistical advantage they have. Plus they don't get greedy..they are quite happy paying out most of the profits and keeping a slight portion for themselves. They know that over time most people will leave with less money than they came with....sounds like trading eh? Wallstreet has its edge..it is called the bid/ask. The house will make the spread for the most part. The occasional big win doesn't frustrate wall street...

 

Casinos hate card counters...why? Because the have figured out how to beat the probability factor that the casinos make their money on.

 

Wallstreet hates expert daytrading scalpers because they take money right out of their pockets...they see it as an invasion into what is their territory, historically. This is one factor in the rise of hft firms..they are doing their best to "best" the successful scalper.

 

MUCHO DINERO CAN BE MADE SCALPING ?(imo which i recommend no one follow). But scalping is intense and requires devotion..concentration..focus...quick thinking...bravery...passion...and of course a plan WITH stops. Some cannot, or will not, give themselves to such things...or they are unwilling to do so. Hence they see the alternative as going for the "big fish". I say; why not do both...if you like both? One can do extreme scalping...regular scalping..swing scalping..intraday.. And also swing trade or trend trade daily, weekly, or even monthly positions....

 

Please read hursts book on an explanation of why tiny small profits repeated on a continual basis can add up to a much bigger profit than an occasional big win....if one gets lucky to hit the big win..

 

I do both...they require different strategies with differing tactics....

 

Then you got the very long term investors..........a horse of a different color.

[Ammeo 10]

Gold futures were little changed near a three-week high on Tuesday, as investors stuck to the sidelines ahead of testimony to Congress by Federal Reserve Chairman Ben Bernanke on Wednesday.

 

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,280.95 a troy ounce during European morning hours, down 0.2% on the day.

 

Comex gold prices held in a tight range between USD1,275.95, the daily low and a session high of USD1,283.85 a troy ounce.

 

Comex gold prices rose to a three-week high of USD1,297.05 a troy ounce on July 11.

 

Gold futures were likely to find support at USD1,237.05 a troy ounce, the low from July 8 and near-term resistance at USD1,301.75, the high from June 21.

[steve46 12]

First, gaming in general is no different than any other retail business....in any casino, the "games of chance" can be broken down into three categories based on the mathematical advantage that the "house" has over the customer....and whether that advantage is fixed or variable....not here to put on a seminar so I will cut to the chase...all are "fixed", meaning that the house edge remains the same throughout the game process, except for Blackjack and Video Poker...in these games the house edge is variable and can actually swing in favor of the player IF THAT PLAYER can execute perfectly (this is called "perfect play" and it means that the player knows and can execute the best option at each opportunity)....So the translation is that for all games but Blackjack and Video Poker, the player has a "negative expectation" of profit....and this means that for the majority of games of chance, over a specific sample size, the casino can be expected to win....and for the player playing those games, the longer you play, the more certain it is that you WILL lose....

 

With respect to financial markets and scalping, the reality is that like gambling, scalping is dependent on skill level AND on the participants ability to obtain the lowest possible fixed and recurring expenses. If for example a participant wants to scalp, however they pay common retail prices for commissions, inevitably they will fail....because the longer they scalp, the more likely that the house (in this the influence exerted by cost of commissions and day to day periodic losses) will overcome any profits they make....again not interested in putting on a seminar, but...the bottom line is that scalping is not viable for the retail trader....

 

So the remaining question is can a person scalp and let specific "scalps" run...turning them into position trades....I am dubious about this, because it requires the participant to change that frame of mind, from scalping short term to skilled evaluation of longer time frame opportunities....I am sure there people out there who can make that transition, however I am sure that they are "few and far between".....for example working in this industry for many years, I have seen only one or two....and they had the advantage of paying extremely low commissions that only an exchange membership can provide...I have never seen a retail trader do it successfully...

 

and Patuca your quaint story about "Capt Bob's Casino" was very entertaining....good job...

 

by the way folks, gold is headed down to test $1000....its not rocket science.....

[SunTrader 10]

Hi SunTrader

Now I see how you can stay so calm in this rising market

You are trading Futures

regards

bobc

I'd pack it in otherwise.

[Patuca 13]

[quote name=steve46;183624

 

by the way folks' date=' gold is headed down to test $1000....its not rocket science.....[/quote]

 

Gold is bullish. Picture explains perfectly.

[SunTrader 10]

"by the way folks, gold is headed down to test $1000....its not rocket science..... "

 

Hey that should be a book title kinda like Dow 40,000 or some such.

[Patuca 13]

P.S. What is a bubble and how do you know when an asset or group of assets is in a bubble?

Edited July 21, 2013 by Patuca