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Gold
12 years 5 months ago - 12 years 5 months ago #7998
by redchilly
Libero,
I was thinking of going long at 1311 area when it was showing a nice hammer on the chart...but then the sudden spike came and by the time I could open my trade it was already in the 1320s! I didn't go long just because of the sudden spike but technically also it looks good. That said I have already closed a part & have moved the SL for the rest to above B/E so it's a risk free trade!
About POG If I am assuming correct you want to take a Long position...you can have an order to open ready @ 72p but it won't get filled if it gaps up above that level at the open. I personally wouldn't advice it as if it has gone to 70p it doesn't mean it won't go any lower. I would wait for a 123 low or go long at the previous low like Remo said with a tight stop.
Good Luck & Happy trading mate
Libero wrote: R/C,
A man after me own heart
Like you, I'm in. Alas, I should posted my CfD entry (1321) on here instead of the iii POG board just after 7pm! I guess I was a bit excited.
Not sure if this is short-lived, I personally hope it has legs, but like the ol' saying goes "hope is just a four letter word to a trader!"
p.s. The downside of this move, for me personally, is that part of my salary is in USD, so erm in a nutshell: Ouch!
p.p.s Thinking of opening an order via IG Markets on POG at 72p to be safe, do you have any experience of orders being taken in situations like this?
As ever, good luck and be safe!
Libero,
I was thinking of going long at 1311 area when it was showing a nice hammer on the chart...but then the sudden spike came and by the time I could open my trade it was already in the 1320s! I didn't go long just because of the sudden spike but technically also it looks good. That said I have already closed a part & have moved the SL for the rest to above B/E so it's a risk free trade!
About POG If I am assuming correct you want to take a Long position...you can have an order to open ready @ 72p but it won't get filled if it gaps up above that level at the open. I personally wouldn't advice it as if it has gone to 70p it doesn't mean it won't go any lower. I would wait for a 123 low or go long at the previous low like Remo said with a tight stop.
Good Luck & Happy trading mate
Last edit: 12 years 5 months ago by redchilly.
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12 years 5 months ago - 12 years 5 months ago #7997
by Libero
R/C,
A man after me own heart
Like you, I'm in. Alas, I should posted my CfD entry (1321) on here instead of the iii POG board just after 7pm! I guess I was a bit excited.
Not sure if this is short-lived, I personally hope it has legs, but like the ol' saying goes "hope is just a four letter word to a trader!"
p.s. The downside of this move, for me personally, is that part of my salary is in USD, so erm in a nutshell: Ouch!
p.p.s Thinking of opening an order via IG Markets on POG at 72p to be safe, do you have any experience of orders being taken in situations like this?
As ever, good luck and be safe!
A man after me own heart
Like you, I'm in. Alas, I should posted my CfD entry (1321) on here instead of the iii POG board just after 7pm! I guess I was a bit excited.
Not sure if this is short-lived, I personally hope it has legs, but like the ol' saying goes "hope is just a four letter word to a trader!"
p.s. The downside of this move, for me personally, is that part of my salary is in USD, so erm in a nutshell: Ouch!
p.p.s Thinking of opening an order via IG Markets on POG at 72p to be safe, do you have any experience of orders being taken in situations like this?
As ever, good luck and be safe!
Last edit: 12 years 5 months ago by Libero.
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12 years 5 months ago #7906
by remo
my long on the gold was stopped out 
It looks like lower prices may follow now so be careful on new longs on the gold for the time being.
1277 is my next target for gold and my next long entry on this.
Theres not much support now until 1277 and 1272
It looks like lower prices may follow now so be careful on new longs on the gold for the time being.
1277 is my next target for gold and my next long entry on this.
Theres not much support now until 1277 and 1272
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12 years 5 months ago - 12 years 5 months ago #7904
by Libero
Cheers Remo!
Superb explaining as ever.
Physical holding aside, I've got a handful of synthetic positions open, two are still in profit (1271 and 1303) and one is underwater (at 1425 - only because 1423 was taken out with such ease. So I'm calling that one a long term 'investment' hehe ).
Last week, I actually put a note on my trading spreadsheet to dump the positions when it bounced last friday (it hit 1390?). Alas, I've shown what 90% of traders do, which is succumb to greed and hold!
Note to self: Sell into the next minor rally. The market ALWAYS gives oppertunities. Don't be greedy, a Profit is a Profit.
I hope this note stays in my head!
Superb explaining as ever.
Physical holding aside, I've got a handful of synthetic positions open, two are still in profit (1271 and 1303) and one is underwater (at 1425 - only because 1423 was taken out with such ease. So I'm calling that one a long term 'investment' hehe
).Last week, I actually put a note on my trading spreadsheet to dump the positions when it bounced last friday (it hit 1390?). Alas, I've shown what 90% of traders do, which is succumb to greed and hold!
Note to self: Sell into the next minor rally. The market ALWAYS gives oppertunities. Don't be greedy, a Profit is a Profit.
I hope this note stays in my head!
Last edit: 12 years 5 months ago by Libero.
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