Gold Trading

Lets play a chess with gold

Very good, what is your next move? 😄

Noor Kausar – what do you mean by playing chess? Does this have something in common with trading? 😁

Would be interested to know of any successful gold and silver trading systems out there. I have tried finding through searching on this site however too many old systems listed.

Anyone know of good gold or silver systems?

:) market has played its move , thinking about shorting at 1177

I already have shorts. How low do you think it will fall before a more significant retracement begins?

@precious my mind is a successfull trading system if you want to invest in :)

mlawson71 posted:
I already have shorts. How low do you think it will fall before a more significant retracement begins?

I would be careful with leveraged shorts and make sure you can ride out moves like we have seen this morning (Mon 5th Dec) as a result of Italian referendum. My approach is to wait for over bought or over sold scenarios and play those, get in and out in a matter of 2-6 hours and do not sit on them overnight.

Still it is interesting, the commentators I listen to have all change from bullish views to bearish in the last month. So it looks like Harry Dent potentially made the right call!?

I just got in on a silver short trade, probably silly timing, however not going to be a long term position.

ProfessorGold posted:
@precious my mind is a successfull trading system if you want to invest in :)

Good on you Professor Gold! Tell me about your gold trading approach.

I am still baffled by the fact that there are not many gold and silver systems out there.

cheers, Cameron

camerongill posted:

mlawson71 posted:
I already have shorts. How low do you think it will fall before a more significant retracement begins?

I would be careful with leveraged shorts and make sure you can ride out moves like we have seen this morning (Mon 5th Dec) as a result of Italian referendum. My approach is to wait for over bought or over sold scenarios and play those, get in and out in a matter of 2-6 hours and do not sit on them overnight.

Still it is interesting, the commentators I listen to have all change from bullish views to bearish in the last month. So it looks like Harry Dent potentially made the right call!?

I just got in on a silver short trade, probably silly timing, however not going to be a long term position.

My shorts were opened pretty high, so I wasn't too worried about that. Thank you for the advice though.

@camerongill @torsen buy 1170 s.l 1167 tp 1179/1185/1204

Thanks Noor for the advice! Currently I am more into indices and fx majors 😄

BUY GOLD

Why do you think there's an opportunity to buy? I am not seeing any signals.

mlawson71 posted:
Why do you think there's an opportunity to buy? I am not seeing any signals.

good observation!
Instead of switching my brain on, I just put blindly a lot of money on gold.... and lost! 😞

mlawson71 posted:
Why do you think there's an opportunity to buy? I am not seeing any signals.

The gold chart looks the most bearish I have ever seen in.

I feel for those seeing the YouTube videos of people like Robert Kiyosaki and Jim Rickards talking $5000 or $10000 oz gold and then jumping in now with long trades - I have done exactly that in the past and learnt that lesson painfully. You cannot trade that one as whilst it could hit those levels, it wont be this year or next year and in the meantime your investment capital is in draw-down and if you take a leveraged position the swap adds to the loss - the only people that make money are the brokers.

Just finished reading the Harry Dent book 'Demographic Cliff' and he is talking gold to take a hammering. Like as in $450 to $600.

Still there are plenty of opportunities in the meantime to make some pips going long and short.

Harry was saying that silver could go down to $5 to $10, however I think silver has more upside, especially due to industrial usage.

Both gold and silver charts are not showing any long/short trade opportunities. Think need to wait for US interest rate decision, or maybe Christmas!

so you people are enforcing me :) @camerongill @mlawson71 , first of all , i do not read these , i used to but then i realized that these investors never reveal their trades , they always do opposite to what they say , secondly Gold From the start of this human life Gold has never lost its value , Its Grand Super Cycle its buy just like A grand Super cycle of water is Buy , your next 100 generations wont see gold that cheap , zoom in the picture , Gold Always moves side ways in yearly cycles , but in any year when economic crisis grip the world into its hand gold spike up to new high every time , I am laughing out loudly at Trump and his policies , Our elders say Dig the mountain , found the rat so will happen to trump policies , i dont want to explain more , then rate hikes , taking gold down , before rate hikes ( before) it must be (after) why its coming down before ? cause the human behaviour to it after rate hikes will be buy at low cost , reason ?? Japan more negative interest rates , Bank Of England rate cuts , Europe more crisis for its the Einstien ( Every Action has an equal and opposite reaction ) the reaction of rate hikes from the globe will be more powerful equal in size but opposite in direction , technically it can drop may be break 1045 on rate hikes announcements ( paper Dump for hitting stop losses ) may fall on precisely 943 , for a very short period of time ,it wont sustain below 1100 just like it fell from 1339 in no time , but the next leg up will be more reactive then this one and distance with respect to last buy 1065--1375 will be more less , i am doing scalps in it but em not forgetting the fundamentals , and technicals and i will be waiting like a wolf waiting for its hunt to attack at right time :)

Either way, I think I will wait for the interest rate announcement next week before I trade Gold again.

mlawson71 posted:
Either way, I think I will wait for the interest rate announcement next week before I trade Gold again.

I was going to wait for the announcement however saw a little long trade come up, so bought at 1155 and sold at 1160 a couple of hours later.

Am not expecting major movement on gold on interest rate decision.

Check out the igold advisor post from last week on youtube. He shows that increase in interest rates does not push gold down over time.