Market Traders Chewin' The Fat

StuFX · February 15, 2019, 9:15am

Small bites and be gone. Ok …I’m a mouse not a man !!

Exodus · February 15, 2019, 6:15pm

Nothing personal It was an observation that buried deep down inside is part of your youthful essence. It is what makes you buy motorcycles, for example.

AlexC · February 15, 2019, 6:40pm

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AlexC · February 15, 2019, 6:48pm

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robgsxr · February 15, 2019, 8:05pm

gotcha, I just re-read and saw what sparked your comment

SixFoot · February 15, 2019, 8:06pm

I just stumbled across an interesting presentation of economic cycles.

I guess we can call this the Trump Spring. lol

Eagle-Keeper · February 17, 2019, 3:35am

Hey I’m curious on how much you follow gold and how/why it trades?

StuFX · February 18, 2019, 3:58pm

Just got to work out how we make a killing now we know what cycle we are in !

Eagle-Keeper · February 19, 2019, 2:28am

Hey thanks for the reply. I actually don’t trade it often as I’ve had many a trade turn south after hours or before open. I was curious on your thoughts on reasons why it could make a big move. Is it largely inverse that of the dollar?

Exodus · February 19, 2019, 6:00pm

IMO Gold pricing is entirely related to Risk Sentiment.

In 2007 the price started rising and took off when the financial industry crashed. The thinking being that everything was doomed … probably not far from the truth since we were saved by a whisker and some quick thinking by most of the Central Banks and Governments.

So look at the recent lift from ~1250 to ~1350 … what happened? There was a significant retrace on stocks globally. The UK main index went from ~7700 to ~6500, there were similar moves on DJI^ and SPX^ and Nikkei-225.

As for the day-to-day stuff, I think you just have to read the chart.

StuFX · February 19, 2019, 7:16pm

Gold , Silver, US500, US30, UK100, Brent,Wti all same direction last 9 weeks, less so but still same direction but more retrace looking,The Nikkei. With gold leading the way with a 3 week head start, it turned first. Think it’s a tough one to call mate.

Exodus · February 19, 2019, 8:38pm

Trading Rule #2

Do not cook dinner whilst you have a trade open…

.

Exodus · February 20, 2019, 9:31am

I left it running because the swap was paying.
The trade closed this morning just before 7am GMT.

Magog · February 20, 2019, 1:32pm

Just BTFD and hedge with CFD’s LOL

Magog · February 20, 2019, 1:40pm

Magog · February 21, 2019, 2:06pm

If you want more bang for your buck - silver has never been this cheap before

Magog · February 21, 2019, 2:22pm

Longer term I’m looking for gold/silver parity - crazy I know but I like the long game and I’m very patient

Leatherneck · February 22, 2019, 1:12pm

StuFX:

When you have watched the markets long enough you will discover that there will be no need to search for the reason or the switch that makes an instrument move. I have always found that price tends to make it to strategic levels just in time for some bullshit piece of news or tweet.
If you only take one thing from my rambling, remember the market isn’t there as a guaranteed investment vehicle for you, it’s there to gobble up your money and create the illusion all was well for a while but you just got an unlucky streak. That makes you warm and gives you the confidence to go again and again until the house has you broke. Ok ? It’s an enemy and you have to pick your battles very wisely !!
Also you can’t have any confusion about your role. You need to know if you are an investor or a trader.

Seriously, Stu Boy, you should write a book. U utter some good stuff!

Exodus · February 22, 2019, 5:31pm

Right … finished for the week. Up 4.9% on what has been (for me) a pretty difficult week. In fact the whole of February so far has been distracted by a load of other events and interruptions.

Yes I have been scalping today. Some people believe that Friday is a stay-away day for FX and they have entirely valid reasons for that. I believe that Friday can be a dangerous day for trading FX, but I do trade on Fridays and I make sure that Europe is still open when I am trading. After Europe and the UK close the American houses are free to push price wherever they choose, and hunt some weak hands or the perhaps obvious stops (visible in level-2 pricing).

Today I made use of some handy reactions to the speakers who began their various testimonies or whatever from 3:15pm GMT. So thanks to them all

Now … I have a load of other jobs to do

StuFX · February 26, 2019, 8:41am

Cheers Jim. I think if people coming to this game ignore the BS and stop looking for complexity they stand a greater chance of surviving. Alas we know from FF they like to have charts full of crap that induce psychosis.