Pailin's Trading Corner

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sp001
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pailin thx for the help &

pailin thx for the help & words of wisdom.

i thought about art also as a possibility. don't even know whr to get started with that! cash is super liquid but apparently with our govt, it is transitioning from liquid to gas. i guess i need something more solid, for now i will keep stacking. if u know of good books or websites to start investing in art pls share! i am in manhattan so we have a lot of good galleries and i have artist friends but they are not quite that aware about the investment side of it...

HoggetowneHoedown
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Dripping Tit!! LMAO

@ Pailin

Thanks Pailin for sharing your philosophy and knowledge with us.  I've felt the same way as you have described many times.  Most of my friends (mid-late 30's) will spend every penny they make plus and while the rest may understand what we are facing, they refuse to do anything to prepare.  I'm just your average Joe.  I've been self-employed since 2005 and have been saving since.  I've been lurking on the blog since December.  I started buying physical in November and now I've got that urge to trade.   You've probably addressed this many times, but if I may ask, how did you get started trading paper and where should someone like myself begin.  I've been doing a bit of reading/d.d., but only enough to know that I still need to learn more. I really only want to use about (laugh)10k as a base for trades maybe 1/10 that size and would like to know what kinds of trades or service might suit this average joe the best.  I would like to be able to start by the fall but would be interested in some taking some long positions as well as doing a little day trades w/silver.  I would describe my monetary philosophy as disciplined/conservative.  Any thoughts are greatly appreciated.  Turd and people like you guys make this site the best! 

sp001
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pailin thx for the help &

pailin thx for the help & words of wisdom.

i thought about art also as a possibility. don't even know whr to get started with that! cash is super liquid but apparently with our govt, it is transitioning from liquid to gas. i guess i need something more solid, for now i will keep stacking. if u know of good books or websites to start investing in art pls share! i am in manhattan so we have a lot of good galleries and i have artist friends but they are not quite that aware about the investment side of it...

pailin
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art

sp - I've been doing the art thing for over 10 yrs seriously and was an aficionado (and thus student of) for another 20 yrs before. There's no easy pathway at this point to obvious gains, and that game may be largely over except for the wealthiest players. This is part of the reason why I'm slowly liquidating (not fire sale, but getting the right prices a piece at a time and taking the fiat and putting it into physical metal). The truth of it is I got in when it was affordable and certain areas were obviously "good buys" and then switched genres inside the space as each got too expensive, like swapping GSR back and forth. I wouldn't recommend -in general- anybody getting in at this point. If you must, before you buy, know who you'll be selling to. Do they have deep pockets? Do they need more than one piece of similar/same art/artist? Will they be around or others like them in 5-25 yrs when you want to "cash in"? The illiquid aspect makes it very important to know your buying and more importantly know your selling.

I still love art. Some of it is just fun too. This is by my good friend aelhra. I help out in the studio.

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Hi-Ho Silver
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120 min silver

Howdy Pailin...Am looking at the 120minute silver which looks like it is testing a H&S neckline from underneath.

Also looks to be forming a lower high as TIME plays out. A break of 34.40 would confirm.

Also see a falling wedge pattern.

I started accumulating physical at the recent lows. I only have a 10% position, and am hoping for NEW LOWER LOWS to add more.

I would love to be able to post a chart here, but don't know how.

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pailin
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trading small

So cool to meet others of a like mind here. The hardest part will be when those unprepared friends come to you when SHTF and they're looking for a private "bailout". Yes, you'll help, but don't do too much for them. There's a learning curve for everyone of us, trial by fire, you don't want to be a dripping tit for them..right?

With the numbers you're showing, my best suggestion would be to trade something like Forex.com or PSLV with little or (better) NO leverage and run the 8hr and 1 day Bollingers against the seasons. In other words, buy small in the late summer/early fall when price spikes THROUGH the bottom Bollinger and sell early winter when the price spikes THROUGH the top Bollinger. That first target is coming on soon. It's true, you will not be trading much, but you will be capturing the sweet, easy gains, and getting out of the way of the seasonal drops. You'll then buy back again at the bottom Bollinger in Jan/Feb and hold until top Bollinger April/May. And repeat. You account balance should grow and then you can place bigger bets (because truly Forex are BETS only, PSLV is at least real) and/or add more funds to enhance. Trading more frequently will, due to chop-chop action, only provide a death by a thousand cuts. You need a lot more funding to play the daily game, as each trade has a risk/reward of hundreds/thousands at a time. And you'll lose more often than you win.

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Metal Monkey
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AVATAR

I am loving the Turd Kiwi in hat.  Awesome

Hi-Ho Silver
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AI

I spent some time on Rick Ackerman's board, and had some excellent correspondence with none other than Andrew Maguire of whistle-blowing fame. He uses Rick's Hidden Pivot method beautifully. I also did Rick's HP course, but don't use it at the mo.

Andy had an indicator that he created called AI (Andy's Indicator). Here it is:

Put up Bollinger bands 20 period with 2 deviations. Then put in an 8 period MA in the middle.

Then on a 10 min chart while it rises and falls between the top band and the center MA---buy all the dips or don't sell. 

When it falls through the MA sell or short till it goes back through it up.

Worth monitoring.

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atlee
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I will join you if that is OK

Palin

I will join your corner if that is ok.

Here is my end of day 6/15.

Rumor that Greece is going to try to form new government tomorrow.  Gold catches safe haven bid. Silver tries to hang on to gold's coat tails.  Strong resistance 36 in silver and 1538 is the number on gold.

Absent the above I am target in 32 to 33 in silver and am short SLV, AGQ. In gold I think 1460 is a possibility but will not short it. Will not buy it eithr until summer is over. We are in a choppy trading range that will chew you up and leave you with no funds for the bigf move coming after the summer. End of year prices in gold an silver much much higher. Next 6 weeks will either provide a great buying opportunity or not but the train is not leaving the station yet.

Pailin, If I am crowding you let me know.

Eric Original
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I think it would be best if

I think it would be best if Pailin, atlee, and JoeKa all pitched their tent in the same spot.  Better for everybody.  Easier to follow, kick things back and forth.

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33 and a turd
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JoeKa,   Please do a

JoeKa,

Please do a "Nightshift with Joe". It will be like a late night radio show.

I will keep you company once Europe gets up.

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Metal Monkey
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ATLEE +PALIN

Thanks guys,

It has been hard enough to follow everyone with the transition. Appreciate the consolidation.  FWIW, I agree with  atlee's feelings for the summer.  (However, absolutely no one can predict the future unless you control it and I doubt any of us here fall in that category).   Major shifts can happen on a minutes notice so stay connected.

Metal Monkey
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JoeKa

I work overnights in the US and often will follow all nite JoeKa too.  Just cannot post from work.  Think its a great idea. Didn't mean to leave anyone out.

freeboundary
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I can't agree more with Eric.

I can't agree more with Eric. The synergistic effect of all gurus being in the same school will help us conquer the PM world :)

pailin
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atlee sucks

atlee wrote:

Pailin, If I am crowding you let me know.

atlee you're always welcome here :)

Looks like we still generally agree on things for the next few weeks. I would love to load up on some gold at 1425-1480. Anywhere in there is good buying, in moderation, to me for fall UP UP and AWAY.

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MisesFan
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I second Eric #1's idea...

Eric Original wrote:

I think it would be best if Pailin, atlee, and JoeKa all pitched their tent in the same spot.  Better for everybody.  Easier to follow, kick things back and forth.

Seconded

Much obliged to Pailin, Atlee and Joeka for sharing their wealth of knowledge.

atlee
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Pailin you nincompoop

LOL Pailin. I saw that and thought WTF did I come back too soon!

z28
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Art

Speaking of art my avatar is one of the last things I helped   work   on before the company I was working for went bankrupt .IT is a Jeff Koons sculpture called balloon rabbit .It stands about 20 ft. tall and is polished stainless steel with paint and clear on it.We also did work for Ellsworth  Kelly and Charley Ray. 

pailin
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art 2.0

z28 wrote:

Speaking of art my avatar is one of the last things I helped   work   on before the company I was working for went bankrupt .IT is a Jeff Koons sculpture called balloon rabbit .It stands about 20 ft. tall and is polished stainless steel with paint and clear on it.We also did work for Ellsworth  Kelly and Charley Ray. 

We couldn't be getting more OT than here, but while I'm undecided as to whether most of Koons' body of work is "art", he's definitely an artist. No slight to your work on it Z28. I envy your role on the fabrication side. Very cool. I'm a Kelly fan.

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To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey

Joseph Lawrence
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Flight to Safety

Does silver get the flight to safety with gold and the dollar as it did today? or does it diverge?  Am currently running short on SLV with a downside target for SLV at $32 and short SPY to $126.  In since late last week.

Nice to see everyone in this thread lurked on original sight since the beginning.

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