“Every
time a bell rings a trader loses his ass.” [Or maybe it’s an angel gets his wings;
I can never remember.]
Still, I’m very concerned about price
action here; gold should be up $20 if it’s up a dime, and you’re telling me
with Deutsche Bank going down the drain, gold is up just a few bucks? I mean,
big whoop … we go from 1322 to 1328 in a tortured climb; now, that doesn’t mean
it can’t explode higher later, but for right now, it looks like a suckers
rally.
2 trades today in gold; the first
yielded a couple of pennies loss and the second captured about $3.50. Both buy
signals were generated with the plum line slope change when the plum line is
under the yellow line AND the market
price is above the daily white horizontal line. The first trade I bailed
out early; I’ve stated before my reluctance to stay long for any length of time
given the trade lately, and the second trade I liquidated on the above average
spike up since the trade started; got a good fill on the second liquidation
because I sold [liquidated] on the way
UP! You want good fills? You have to liquidate long positions on the way up,
cuz after it starts to rollover, the LP will screw you blind and not even give
you a kiss or send flowers.
Today’s trades in gold directly below.
Now, I want to make something clear here
for Newbies to the biz; our algorithm trades have a very high probability of
success for profit if liquidated properly. They
are not guarantees! Just because I have an approximate 90%+ success rate,
does not mean any single individual trade can’t go bad; it’s the reason we use
relatively low leverage [approximate 10X or lower] and don’t do “stupid shit”
like mortgage the house or trade at 100X leverage. Your millions of Dollars are
out there waiting for you “one trade at a time” as you successfully build your
account WITH CONSTANT APPROXIMATE 10X
LEVERAGE. Every time you trade and make money, if you keep your leverage
constant, the next trade will make you more money than before. After a short
relative period of time [maybe a year or two depending on how aggressive you
are], your winning trades become larger
than your original deposit into the brokerage house!
In other words, you deposit $1,000 into
an account and start trading 10 Oz. of gold [I currently recommend $100 in
account equity per 1 Oz., which at current prices is about 8X leverage; close
enough to 10 for government work.] and by the time your second anniversary
rolls around, do you have any idea [think] what your account looks like?
I won’t bore you with the math, but your
account balance will exceed $50,000, and
you will be trading at least 5 lots, and that would equal $1,250 per day! Something
for all of you to think about who are still stuck in the “Pudding Business”.
And as I write today’s blog post before
the dog and I “hit” the beach, gold has reversed course, and peed all over
itself right back down to the 1322 level [and then lower still] in a matter of
3 minutes [on, what else, Deutsche Bank rumors]; let’s see, what’s wrong with
this picture? It takes about an hour to go up from the low of the move, and 3
minutes to go right back from where it came; folks, the dealer/bullion
bank/commercial “bullion wall” of sell orders is still very much with us. And
until the market can show me it can go up, and
stay there for longer than about 10 minutes, I AM VERY WARY OF STAYING LONG
AND OVER EXTENDING MY WELCOME; cuz if you have to sell [liquidate] on the way
down, you aren’t going to be very happy with your fill from the LP [who, by the
way, are hyenas of the highest order]. It doesn’t matter which brokerage house
you’re at, your order to sell [liquidate] on the way down pays for all kinds of
shit on the LP yachts.
“Which
part of this LP yacht did you contribute?”
[“Hey,
did you see where I filled this guy? Hahahaha, what a chump. Thanks, and come
again! More champagne honey?”]
Another thing of note: I mentioned the
other day about the “Ichimoku” cloud formation; directly below today’s daily
candlestick with Ichimoku overlay. Although today’s high didn’t quite make it
to the bottom of the cloud, there’s no doubt in my mind commercials were
“laying in wait” for anything remotely close, barring anything concrete from
being announced about Deutsche Bank, to sell en mass.
Now, the gold volatility algorithm doesn’t
incorporate the Ichimoku in its criteria for trading because it is too slow;
that doesn’t mean it can’t give us some daily perspective as to where potential
buy [support] or sell [resistance] orders are placed. As I said before, this
indicator is big in the Pacific Rim, and the markets traders over there are in
love with; and that means “anything Yen”, and that also means metals [gold,
silver, platinum, & copper].
All in all, markets give us a “wonderful
life”; freedom from corporate tyranny, freedom from government, and freedom
from modern day societal slavery. I can trade anonymously, privately, securely,
and it’s nobody’s business; I’m sure you can deduce from logic the
ramifications of that. And here’s the thing; there isn’t any reason why you can’t be doing it!
Well, the dog is on DEFCON 1; keeps
telling me it’s time to hit the beach for some sun & sand.
“Right,
sun & sand; and you think I’m buyin’ it?
Have a great weekend everybody!
-vegas
OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX
LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING
ACCOUNT – DO IT NOW!”
No comments:
Post a Comment