Olympic Gold Medals
They are not gold. the last gold medal was 1912
Thespecific composition and design of Olympic medals is determined by the host city's organizing committee. However, certain standards must be maintained:
Doncha just love metals & oil all that wild unpredictable debauchery.
So the personal plan at this time of Bernanke was stay flat full dry powder stink bid buy orders set & waiting.
That's my small fry size positions nothing too frightening.
Snared AG 15 cents off the bottom, Au by 90 cents.. And the best bit, instant bounce back, taken 75% off the table, stopped up the rest.
WTI the early dive & 50% retrace ?? bid filled at 103.40 out at 104.30
A nice day...
Gold1776,, hell man sorry to read that, .
Tight lines all
I bought all three S levels on Monday. No buying or selling on Tuesday (no targets hit in either direction). Bought all three S levels again today. So now I've got 12 positions at a truly sexy avg cost. Again I can do this for days and days on end, but don't think I'll get that lucky! To do this you need to have some significant capital at hand or buy very very small at each pivot. Or only buy at S3? You'd trade a lot less but still be in the game at low risk. Only you know what you can and cannot do in this regard.
If you started this week buying only S3, then your Monday buy would have been at 31.12, no trades Tuesday, and another buy today at 30.10. That would give you an average of 30.60. And now we're bouncing, already essentially there at your average. From here on it's profit time - even though your Monday buy (in hindsight) was a bit pricey. That's a real world example that's happened right in front of you in the last three days!
As for shorting, you'd never get stuck terribly in a short position because you'd be covering each time price hit an S level.
My guess is that you fear a trend in one direction or the other that just stretches and stretches but does not hit targets. This simply will not happen. Particularly in normally rather volatile silver. The pivots tighten up over time if there is a soft drift for days/weeks. That's what happened last week in silver resulting in hits on all three S levels on Monday. See?
My suggestion? Open a forex.com practice account and trade there exactly as you would in real life and with the same dollar amounts, no matter how much they "give" you to practice with. Just figure out how much $$ you'd want to commit max per day, divide by six and start placing buy orders at the S levels. Some will hit, most will not. Once you have a position on, start placing sells at the R level/s. When you sell make sure you put back on a new S buy, etc, rinse/repeat. After a few weeks you'll have a pretty good idea how it works and why the risk isn't nearly as high as buy/hold.
Well this is suprising to me. I need to know how you will try to unload these 12. will you do it by getting out on the first R1 2 & 3. or will you use other ideas. will you hold for a profit. or try to get out even.
Personally I see a bounce coming now. it is on support although it could go a little lower. but a bounce is due. I think I would be willing to try to hold for a profit on each position if possible. But that has to be balanced on use of money. do I want to get back to cash and keep buying and selling as often as possible or sit there holding out for a profit. I am always bullish gold and silver. some times more than other times. but rarely feel it will go down. although there have been times when I think the market would do a pullback down from a run upwards.
Please put a gold star on these 12. I really want to see how these get unloaded. I am going to try to open a paper account to follow along. lets see how I can do. I really need to experience it working.
OK I just now opened a practice account at forex.com. took the account on the left the more simple one. but can not see how to enter the orders except to buy at the market. I have to work on how to operate on this site. I did get the XAG chart up not sure what time to put. but I see the nice dip on Monday and wednesday and the nice pull back up today.
The graphics are kind of basic.
The bid asked spread seems to be about 8 cents but that might be because it is night time now. seems a bit large. that would constitute a $400 commission on a 5000 ounce contract. I do not see how to place an order at the pivot prices. I will find out tomorrow. I went to live chat. having problems need to shut down thsi window.
S1 = buy 1
S2 = buy 2
S3 = buy 3
R1 = sell 1
R2 = sell 2
R3 = sell 3
I have data going back a couple years to write program to see how would work over long term and different markets (bull or bear), but a combination of being busy, lazy, and becoming interested in other things has prevented me from doing this, one day I'll sit down and concentrate for few hours and get this done, when that day will come, who knows.
WOW that was intense. A new software and learning to use it. I went on chat and the person worked me thorugh more than enough to start out. I got tirde it is late at night and wanted to take a break. I learned a boat load. I will share some for others. I went to forex.com and downloaded the pro trader. that is the one to get.
it is easy software. click on things and they pop up. order entry for pivots should be straight forward. I had to come back here to get the pivot prices. the day order ends at 5 pm so I will guess that we use appropriate prices for closing the orders at 17:00 hours eastern time.
The bad news is that there is a limit to how small an order one can place. I checked it out. the leverage is no leverage. full payment. so the approximate need for cash is silver 50 ounces times the price at $30 an ounce it would be $1500 but really need more as the price is above $30. For gold the total is about the same as itis one ounce of gold minimum purchase so that takes about $1635 depending on the price. you must have full price.
You get charts of the prices. fairly nice charts. I think you can full screen the charts. etc. I need some more practice here. I wanted to learn how to place the orders.
So trading silver at approximately the price today takes about $9000 to $10,000 minimum to buy the 6 units. I will figure $10,000 is good as the price moves around. that would carry to probably $33.33 but above that probably need more cash.
50 ounce minimum is nice if you make a profit of 10 cents that is $5. so easy to figure.
This is trading for tiny profits. But that is ok with me. Trading for $5 is not a get rich quick method.
1776
Sux. Period. I hope things turn out for you. Do your homework, then work on makin it back. We're pullin for ya.
---
I think that it is bullish that we have past the circus and are still in the 30s. I kept my 51.35 AGQ position but must admit I almost caved at 49 a few times. Almost added JAG premarket this morning at 2.79 but didn't. Surprised to check in and see JAG up. Once I get some green on the AGQ trade, I'll probably add some JAG shares if it is still languishing. I want to bring it from lotto status to 1/3 position. Maybe it is the siren song of JAG speaking to me...IDK, but I just can't see that chart getting hammered anymore...famous last words about a miner. One headline or one suitor and it's a double from here. Easy.
I have no idea what to expect. I am divorced from the news, so the only info I have has been gathered from these pages. I will say I like the chart holding onto 30. Alot. Am very comfortable with AGQ right now. My expectation is to begin to run at 33 for the umpteenth time. LSO on AGQ is only 52.85 though. I think it falls short. Again.
GLTA. What an ugly period of time to trade metal. Very discouraging.
1776 - Sorry to hear that, but you seem to have a good attitude so you'll be just fine I'm sure. Totally with SSK on this - come back if/when it starts to get easier again :)
I'm sitting on a bit of long PMs at the mo', been trading some of the bigger dips and spikes to eke some profits (nicely done PA), but mostly I'm in waiting mode. I think it's going to get much easier reasonably soon. If not, comme ci, comme ca...
Any long bond traders out there (CK)? For what it's worth I'm starting to think we have a new range - 143 to 136.50-135.50... I'm going to give it a whirl if we get back up near 143. That 145-140 range was so good to me, I just can't resist... famous last words!
Success is not final, failure is not fatal: it is the courage to continue that counts.
Winston Churchill
Browsing through the comments this morning (london time), it looks like the FOMC was the untradable convoluted event I was expecting. The only way I thought to trade it would be buying the break at 1650 or selling at 1623, looks like my buy order was hit today. And now im a buyer, but dont have much confidence in a meaningful trend just yet.
Well done to all who made money out of it.
1776: if its any consolation, Ive been trying to sell GBPUSD much to my chagrin. The overbought Pound shrugged off a dismal GDP report, and a hawlish Fed.... Naughty Pound!
-SB
just read the main page for the first time since i divorced myself from the news a month + ago. TF seems to be pretty concise on the latest blog. Quotes some of his notes from past, seems on. Says 33 is BRII. Don't know if I'd call it BRII, but 33 is the same level of resistance I see. Must admit I feel better about holding my AGQ after reading his post.
doesn't look like much of a drop happened at 3-5a.
glta
There are too many gaps lower in SLV, gaps close to current price (one gap rather large), to confidently call a bottom in silver. $30 silver is a clean number to see support; I think it's temporary. SLV doesn't have to close price gaps, but having three price gaps so close to the current price does not support any confidence in this trader that the price has bottomed.
| Daily | XAU/USD |
| High | 1646.98 |
| Low | 1624.86 |
| Close | 1643.52 |
| R3 | 1674.16 |
| R2 | 1660.57 |
| R1 | 1652.04 |
| Pivot | 1638.45 |
| S1 | 1629.92 |
| S2 | 1616.33 |
| S3 | 1607.80 |
| Daily | XAG/USD |
| High | 31.025 |
| Low | 29.961 |
| Close | 30.704 |
| R3 | 32.229 |
| R2 | 31.627 |
| R1 | 31.165 |
| Pivot | 30.563 |
| S1 | 30.101 |
| S2 | 29.499 |
| S3 | 29.037 |
Sometimes I'm on the move too much to be able to post here. Bought AGQ twice at 1st and 2nd low. Had a sell price in but needed silver at 30.75 to hit it and it didn't. I'm about 80% in now. Looks like I'll be able to get out in good green.
Gold1776 Sorry to hear about your loss. I have reached the conclusion any trader has to go through that to make the risk real in the future. Come back when you're ready.
Spinny - congrats on the ZSL.
Gold Nugget thanks for posting your experience. I need to move to futures/FOREX because trading 9:30-4:00 leaves me out of too many moves and I think I have the discipline now to manage it. And Pailin of course keeps doing the gruntwork of putting up the pivots :) If I open a practise account I'll let you know how it goes.
Please quote more of Churchill. Love that man. He suffered terribly from bipolar disorder with protracted depressive periods, but his brilliance always shone through. We will have leaders like that again but it seems this is not the time.
|
Date |
ET |
Release |
For |
Consensus |
Prior |
|
Apr 26 |
8:30 AM |
Initial Claims |
04/21 |
NA |
386K |
|
Apr 26 |
8:30 AM |
Continuing Claims |
04/14 |
NA |
3297K |
|
Apr 26 |
10:00 AM |
Pending Home Sales |
Mar |
NA |
-0.5% |
What a day--nothing looks good, up or down...Thought I might have a go at CL, but it's stuck in no-man's land, s are PMs, the softs, etc.
Does this mean I have to go make myself useful? What a thought...
How will I unload? Ez. Sell into the pivot resistance levels same as usual, no rush, no panic. No big deal.
Hoping today to sell into one or more of these numbers:
| R3 | 32.229 |
| R2 | 31.627 |
| R1 | 31.165 |
Well you have purchased twice at all 3 levels. so you have 2 bought at S1 on Monday and Wednesday one each day at different prices. So if today R1 gets hit do you immediately sell both or just one.
I went and bought 6 monopoly money units at approximately the ave price of the Monday and Wednesday so I can say that the R1 price of 31.165is above the ave price of the 2 purchases so it makes sense to sell both at the first R1. My ave price is slightly higher than your ave price as I bought at the market at the time. My ave cost was $30.71 where I think the proper ave was maybe 5 cents less or maybe a dime less.
Anyway thanks for the pivots. I have to run and place the monopoly money orders. I could not get them placed last night. I could not figure out how to place them on this software. also have another software anomaly this morning. have to contact the nice people on Chat window. chat works real nice at this company. fast and efficient.
Rats I messed it up. I placed orders to sell 2 at each price. OH MAN. This is FUN.
I am really enjoying this. I am having a really fun time doing these orders.
It is really helping me understand everything.
How will I unload? Ez. Sell into the pivot resistance levels same as usual, no rush, no panic. No big deal.
Hoping today to sell into one or more of these numbers:
| R3 | 32.229 |
| R2 | 31.627 |
| R1 | 31.165 |
Well you have purchased twice at all 3 levels. so you have 2 bought at S1 on Monday and Wednesday one each day at different prices. So if today R1 gets hit do you immediately sell both or just one.
Being a rather conservative speculator, I'll generally sell 1/6 of whatever position I hold at R1. That's the system - designed to get you out of the way with profit (or less loss) whenever possible. However, 30 is an interesting number and I may actually only sell 1/12 at R1. I expect price to move back into the 31-32 range next week. Not sure if I want to tweak yet, only considering because we've created (at least temporarily) what I consider a rounded bottom at 30. We'll see. Most likely I'll dump 1/6 per plan :)
I'm glad you having fun (I told you so!) and starting to "get" it.
Please quote more of Churchill. Love that man...We will have leaders like that again but it seems this is not the time.
Eh. Churchill/Lusitania/WWI. @sshole.
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Well this is suprising to me. I need to know how you will try to unload these 12. will you do it by getting out on the first R1 2 & 3. or will you use other ideas. will you hold for a profit. or try to get out even.
How will I unload? Ez. Sell into the pivot resistance levels same as usual, no rush, no panic. No big deal.
Hoping today to sell into one or more of these numbers:
Re: making small money back, that all depends on how small your account is to begin with. It's true you can't really trade with less than $10k. But then why would you? A day trader playing with less than that is just waiting to give the house his money. Like going to Vegas with $200 in your pocket...why bother??? I think the minimum number to ride the pivots correctly (and baby...pay off they do!) is $30k. But seriously, I hope you didn't think this scheme was guaranteed 10% ROI weekly or something like that? Doesn't exist unless you're a bankster :)
You'll have to just see how it works on Pro over coming weeks, but try just use the system straight out vs. tweaking it for maximization. That will not work out for you. I promise!
So, even after the gyrations of the last 2 weeks, I closed last Friday green and if we get over 31 will do so again this week. What can I say, life is wonderful :) :)
__________________
I never buy at the bottom and I always sell too soon. -Baron Rothschild
Man is a credulous animal, and must believe something; in the absence of good grounds for belief, he will be satisfied with bad ones. -Bertrand Russell