thanks pailin - i was hoping you would make your own thread
Pailin's Trading Corner
whr the hell is atlee
old sp, now sp001
anyways anyone still playing equities game? shorts, r u hiding, i continue to short it and go long gold. i honestly don't have the guts or trading experience to mess with paper silver right now. it's too nuts for me lately!
btw nothing wrong with being a "cheap bastard" but it is the wrong description in my opinion. people who are "cheap" r simply those who value their time more than working as a slave to pay off a luxury good! that being said 50% savings is damn impressive! i only have 55% after taxes are all paid!
Hi Pailin, I have been avid follower of your trading ideas, and lately your postings have been my main reason of visiting Turd's blog :-). Look forward to learn from your brilliant insights, and am hoping to build up trading strategies utilizing your ideas.. Thanks a million again and please keep up the good work and guild us to survive in this tough trading arena:)
Good going Pailin. Interesting to learn more about you...thanks for being open.
I'm also thinkin of starting my own 'thread' called: "Nightshift with JoeKa"
Not sure if i'll be talking to myself...which happens quite a lot on the deep late show.
Your posts are a great help .Thank you
I will give those cold showers a try. Wife can't be convinced though.
Silver, gold and oil rolling down. Choppy action today.
mind me asking how you are allocated asset-wise in broad terms?
my savings are going more and more into cash. ultimately (within next 5 yrs) i will prob take out alot of the money to open my own business.
but i literally started saving 3 years ago when i first got a real job (before was still in post-grad education mode)...since then i keep accumulating cash. i'm in 30% short-term bonds/TIPS (which is 100% of my solo 401k which i manage), but don't feel comfortable putting much into equities (think they are too expensive), or more than 20% in PM (including physical and paper combined). this typically leaves me with 50-60% cash at all times which drives me crazy! i'm still renting but will not buy b/c valuations whr i live are too much.
anyways point is pailin, u seemed to have saved a good deal and i'm interested in how u got to this point! any help is appreciated...at the end of the day, i don't expect trading to really do much to make me money but investing, on the other hand, could make a major difference. i'd be ecstatic with 10% annualized over a decade!
Thanks for detailed guide line, Pailin. Apologies for my bad manner. I have also been in financial service industry for years and middle aged. I can’t be more envious of you to be self-employed. Unfortunately, I am not yet laid-off and I just can’t just walk away from my job until I build full confidence in my trading skill. I have no debt, living with wife with no children and accumulated saving enough to survive years. Alright, enough of humble background and here is what I am doing now with silver:
Done some statistical analysis based on you idea and history tells that best strategy with silver right now is perhaps shorting silver during NYSE hours: going short around 9-10AM and covering around 4PM. Been experimenting this since yesterday with very small stake: barely flat yesterday as I closed the position at 7:30 this morning and having good start today. Went short email@example.com and gold@1527.
What do y'all think - does this downdraft have enough steam to push us through 35 or are we bouncing?
At the rate it's moving, I think we'll have our answer soon enough..
If we do break 35, bounce off 34.4 would be my best guess - though I see a bounce off 35.
it would be a great idea if you set up a similar thread yourself - JoeKa's Trading Corner.
We can stay updated on what positions you and pailin are taking.
Btw there is descending trendline resistance + significant fib resistance at $36 ; posting late about it but looked
like a good shorting zone
Good to see you still around....what a big annoyed looking face!
Yeah, I think a JoeKa trading corner/nightshift thread would be cool, but never, never a Kiwi Trading Corner, it would read as a comedy (or a tragedy)
My latest adventure in losing money was buying into the Pandora IPO, I set my stops too low (to avoid being taken out by downward spikes, I told myself) and ended up with a few tears and a big chunk of change gone.....ugh.
But as they say, "the only real loss is when you don't learn", from now on it's tight stops and don't sweat the "lost potential profit".....lost potential profit hurts a lot less than real $ loss.
I've been lurking since March. Got burned by AGQ in May and have had to step back and learn. That's why I'm here - thanks for your generous spirit in sharing your trading knowledge. After 30 years of investing, I have given up and am learning to trade. I believe investing is dead because it's all rigged, and the declining dollar means that sitting still with dollars is actually going backwards. Gotta be flexible in these changing times, and that means helping each other. Right now I definitely need to learn how to make this work, so thanks to all who contribute to and support this board (best one I've ever been to).
Whenever you miss the salary then think how much time you had to spend in covering yourself up or dealing with politics at your old job :-)
Here is a quote by Marty Schwarz at Market wizard along this line. (Marty has been trader on his own account for most of his career. So he meant “trader” below by an independent one instead of a trader working for someone else. )
“The great thing about being a trader is that you can always do a much better job. No matter how successful you are, you know how many times you screw up. Most people, in most careers, are busy trying to cover up their mistakes. As a trader, you are forced to confront your mistakes because the numbers don't lie.”