Archives of “GOLD” tag

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Market Promises

  
  Education
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This is not going to endure me to my fellow traders but I think it is important that we all are reminded what the market promises us.I am not talking from my gold and diamond encrusted throne. I am not exactly killing it. I am not perfect; I do not make money every trade or every day. This is a reminder to me, more than a reminder to you.

Market Promises:

It promises a playing field, not the game.
It promises to reward risk, not proportionately.
It promises opportunity, it does not promise profits.
It promises a lesson, not learning.
It promises that the quality of indicators and analysis is proportionate to quantity of participants, not quality.

Once again I am not without my struggles; this market is not easy for me or anyone I talk to regularly. I have had to make changes that I did not want to make. I thought once 2008 happened it would always be like that. It has been a rude awakening. Is there something I missed? Let me know.

Five Faiths Needed for Trading Success

  
  Education
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  1. You must have faith in yourself. You must believe that you can trade as well as anyone else.. This belief arises from doing your homework and staying disciplined in your system. Understanding that it is not you, that it is your system that wins and loses based on market action will keep the negative self talk at bay.
  2. You must have faith in your method. You must study the historical performance of your trading method so you can see how it works on charts. Also it is possible to quantify and back test mechanical trading systems for specific historical  performance in different kinds of markets.
  3. You must have faith in your risk management. You must manage your risk per trade so it brings you to a 0% mathematical probability of ruin. A 1% to 2% of total capital at risk per trade will give almost any system a 0% risk of ruin.
  4. You must have faith that you will win in the long term if you stay on course. Reading the stories of successful traders and how they did it will give you a sense that if they can do it you can to. If trading is something you are passionate about all that separates you from success is time.
  5. You need faith in your stock. It helps in your trading if you trade stocks, commodities, or currencies that you 100% believe in. Traders tend to have no trouble trading a bullish system with $AAPL if they believe it is the greatest company to ever exist and will go to $500 within six months. It is much easier to follow an always in trend reversal system with Gold if you believe it tends to trend strongly one way or the other. Of course you have to follow a defined system and take the signals even if it goes against your opinions but believing in your trading vehicle helps tremendously.

Six One Liners for Traders

  
  Education
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“Don’t trade just because you can afford to lose.” 

 “Practice makes perfect is an old copybook adage that works well in the market place.”

 “If a trade fails to come out right, the error will be found in the operator-not the market.”

  “Trading is simple another form of business.  Treat it as such.”

  “Trend to the investor is like the vein of gold to the miner, who must follow the vein faithfully if he expects to get the yellow metal.”

 “Stocks are made to buy and sell…not to be bought and held.”

Gold -Crude :Update

  
Analysis, Crude, Education, Gold / Silver
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GOLD-BARS

After Hitting all time High of $ 1227 .50 it crashed to 1075 level and rallied upto 1163.There after nonstop slide upto 1044 was there.

-Just see Daily chart and Look at Head & Shoulder Formation.

-Already broken Neckline and retraced upto Neckline.

Revival should be considered as Best opportunity to exit only.

-I will write about Head & Shoulder target in next 2-3 days.

Now ,What to expect from $1076 level ?

-Thirsty Traders ,Just watch $ 1084-1089 level very closely.Once crosses $1089 and closes above this level will take to $1104-1109 level.

-Nearest support $ 1063,break will create fresh selling.

To know MCX levels of GOLD ,Silver /Base Metals join us.

oil-on-scale

MCX Traders ,Can watch these levels for Crude Oil

3512-3532.

Once crosses then will zoom to kiss 3592-3612 level.

For timebeing worst is over for Crude.Will give more Details to our Subscribers.

Updated at 7:22/11th Feb/Baroda

George Soros loads up on gold

  
Analysis, Education, Gold / Silver
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soros-gold

So why is Soros buying gold?  Though he believes gold is the ultimate bubble, he had said before that he likes to ride bubbles.  But unlike most investors, Soros usually knows when to get out.

From the WSJ:

LONDON—Investor George Soros doubled his bet on gold at the end of 2009 amid rising prices, a filing with the U.S. Securities and Exchange Commission showed.

The filing, made late Tuesday for the financial period ended Dec. 31, comes after Mr. Soros made comments during the World Economic Forum in Davos, Switzerland, in late January calling gold an asset bubble. He told media at the time that the low-interest-rate environment creates a condition for bubbles to develop and that gold is the ultimate bubble…..

Trading is an art

  
  Education
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Once, there were two farmers who lived in the desert.  Both desperately needed to acquire water so they could survive the desert and support their families.  After working together to search the area, they concluded there was water somewhere in the area but they were not sure where.  So, they set out to find a water well. They started digging in similar locations between their properties. After they both dug for several days, the second farmer finally struck water. As soon as this happened, the first farmer could see it from a distance and ran over to the second farmer.  Seeing that he had stuck a huge water well, he asked the farmer, “You and I had the same tools for digging and have been digging in similar locations.  How did you find water and I did not?” 

The second farmer asked him, “How did you dig for water?” 

The first farmer responded, “I went and dug 50 holes 1 foot deep trying to get maximum coverage of my area.  What did you end up doing?” 

The second farmer replies, “Oh!  That is very interesting.  I dug one hole, 50 feet deep.” 

Many traders set out on the path of trading and do exactly what the first farmer did – they dig 50 holes 1 foot deep. If you are going to strike water, gold or oil, you will have to dig one hole, 50 feet deep.  The reason for this is a matter of mastery. To be a master at anything, you have to become so familiar with it, know how it works inside and out to the point you understand every aspect of what you are doing.  (more…)

Gold :$ 1141.50 is Last Hurdle

  
Analysis, Education, Gold / Silver
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GOLD-3rd March

In my last update on 20th Feb’10,I had written it will face Hurdle at $ 1134-1141.50.It kissed $1131.50 & crashed upto $ 1088 level and there after taken U-turn.

Again Yesterday made high of $1137.60.

Now ,What to expect ?

Just watch $1141.50 level.Two consecutive close above this level will take to $1164-1171.50 level.

-Don’t panic  at lower levels.

-I will update MCX levels to our Subscribers.

Updated at 6:34/3rd March/Baroda

21 Things a Trader Should Know About Trading

  
  Education
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1. Never try to make money the same way twice in a row.lip25

2. Don’t trade inactive markets.

3. Don’t assume that the relation between your two favorite markets will stay the same from year to year.

4. Be alert to big minimums on Monday as they tend to reverse.

5. Try not to sell markets that have big drifts upwards like stocks.

6. Try to go with with the central banks.

7. Be one with the idea that has the world in its grip and be on the side of the market that will further that grip.

8. Never go for small profits as the vig is too great relative to your gain as a %.

9. Don’t trade when a loved one is very sick. (more…)

Perfect 10

  
Analysis, Education, LINKS
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PERFECT10-FORECAST
 

On 11th Sept’09 ,I had written about Base Metals ..just click here and see

On 17th Sept’09,Written not to touch GOLD and Don’t hold long in precious Metals….u don’t believe …click here

On 21st Sept ’09 ,written about Natural Gas ..Don’t miss to read …click here

On 21st Sept ’09 written about S&P 500 ,No Magic No Miracle………..yes it had crashed :Click here and see

On 21st Sept ’09,I had written about Shanghai Index and just see in last 4 sessions it had crashed again…look here to BelieveOn 22nd Sept ’09 written boldly that I expect crack in Crude oil….for these type of forecast u dont have to pay money to Jokers ,I will write free…click here
money-106
To get all three ,Just join us and become our Subscribers.
To get Details :send me mail at [email protected]

 

 
 

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