Buy Gold NOW!!!

[RD'S Alias - 1A]

My system triggred a buy signal yesterday. I'd buy and hold till mid next week or so then take profits.

If my charts are right, we are looking at some fast cash!

The exit would be based on the price in relation to the moving average and Bollinger bands.

With prices this high, it's not wise to buy and hold long term as the market might actually turn and go down (Hopefully anyway, as that would mean our economy is stronger than predicted)

[SPJ]

Chinese always buy golds thru out history.

there is a come back for people in China to buy golds.

that is the main reason for the gold price to go up.

and of course, the oil price soars,

actually, in US or the west, it would be better buy real estate.

in China, real estate is still government owned.

you may buy property for your life time. when you die, the property goes back to the government, there is some changes now, but housing market is highly regulated.

that is why gold is good for Chinese to buy.

--

:D

[RD'S Alias - 1A]

I am just pointing out that there is a really good opportunity for some really substantial (depending on how many contract you trade) and fast profits over the next week.

Gold is going up because the rising prices of Oil are messing with the US economy.

[Eddie]

so you basically just happen to have extra money available to use to buy gold? :eek:

[RD'S Alias - 1A]

Unfortunetly ... no...

I have a small futures trading account, but it's not big enough to really put anything substantial down at the moment...God, I wish I could though. With enough down I could make a years pay in the next week.

[bodhitree]

wtf buy gold when the price is high?

buy low, SELL HIGH

[RD'S Alias - 1A]

There are more layers to that onion though. You can also buy High, and sell Higher...which is what this trade is doing, and why it's so short term (in case the market is at the top and turns suddenly). This particular trade is taking advantage of explosive upward momentum.

The thing is, we don't know if the market is near it's top, OR only half way there. All we know is that all the signs indicate a short term upward boost. If we get out near the peak of it, we make a substantial profit, really quick and then are out in case the market changes direction. Of course we are also out any profits we would have gotten if the market stays it's course, but as they say, a bird in the hand is worth 2 in the tree.

Another thing you can do (in the right conditions) is sell first at a higher price, then buy it back later when the price is lower.

It's still buy low, sell high, you are just selling FIRST, and buying later once the price dropped.

[bodhitree]

There are more layers to that onion though. You can also buy High, and sell Higher...which is what this trade is doing, and why it's so short term.

Another thing you can do (in the right conditions) is sell first at a higher price, then buy it back later when the price is lower.

It's still buy low, sell high, you are just selling FIRST, and buying later once the price dropped.


Good points. If you have the assets to do that, by all means, make a profit! God bless capitalism!

[Shaolin Wookie]

I just OG'd. Got me a shiny thick rope with a hella big cross on the end, all gold. Had to avoid the plats. They were tempting, but I opted for a set of thick ass gold rings and several smaller ropes. My lady told me I looked like Mr. T. But I told her about how if you buy lots of gold right now, it'll be worth more in no time.

Good lookin' out, RD.

I owe you, man.;)

So, where do you hock it to make those sick ends? Speak to me, RD. You're our only hope.

[Shaolin Wookie]

BTW, please tell me the system that triggered this message wasn't the same one that detected a UFO on the radar!:confused:

Oh no!




RD!



YOU *******! YOUVE SCREWED ME FOR THJE LAST TIME, DRAGON BOY!

[RD'S Alias - 1A]

Last time? I don't remember screwing you the first time!

[bodhitree]

just a suggestion, you should let people know your sales strategy before suggesting they go out and buy gold when it's at the most expensive point it's ever been. Like I said, just a suggestion.

[RD'S Alias - 1A]

It's not a Sales strategy, it's a Trading strategy.

It's kind of hard to explain. First I'd have to teach the system I use, and that would start with teaching what all the indicators are that I use, and what they mean under various market conditions (which would be quite time consuming)and then I'd have to start teaching how they are used in combination with eachother to trigger buy and sell points. That would be very difficult in this venue, especially since I actually use several over lapping methods together to improve accuracy and function as checks and balances to eachother.

I could write an entire chapter on each segment of my system, and probably quite a large book on the whole system. It would be really hard and probably quite impossible to do it in a single, or even multiple post format. There is just too much underlying foundational understanding that one would need to have in order to get it in a quick post. Most don't have that foundation.

Now, *IF* you know how to trade technically based on Fibonacci retracement levels, & *If* you understand the use of support and resistance levels generated by a variety of methods, *If* you know what trend lines are and how to use them, and *If* you know all the major Technical patterns like Double tops & Bottoms, Head & Shoulders formations, 1-2-3 patterns, Chanells (sideways as well as ascending and descending) Bull & Bear flags, Pennants, Triangles (and the differences and why), and *If* you know what a Bollinger Band is as well as what the 4,9, & 18 Bar moving averages are (an how they are used); and you understand how charts are broken down into weekly, Daily, and intra day charts from the 60 min to the 30 &15 min, AND you have a basic understanding of Futures & Commodity contracts, then I can explain by saying:

"Gold just cleared congestion and is making a formation between the 9 Bar moving average and the upper Bolinger band on the Daily chart that is very Bullish. In addition, the charts daily bar close in a "Sprung" position (Meaning heavy upward potential)."

As for figuring a top to this market, we really need to talk to the Elliot wave guys. I think they are the only ones with a true clue, and I don't specialize in that method. Mine is more geared for short term hops.

I have seen some Elliot wave theorists say Gold is on it's way to 1600 or more though, so there is still plenty of room....it all really depends on how strong the economy is, and how high oil prices have to go to really crumble it. Right now there is no end in site.

if the economy is stronger than I think it is Gold will probably follow the Elliot wave predictions, if not then we are in for a wild ride and Gold may not have a foreseeable top side.

[bodhitree]

It's not a Sales strategy, it's a Trading strategy.

It's kind of hard to explain. First I'd have to teach the system I use, and that would start with teaching what all the indicators are that I use, and what they mean under various market conditions (which would be quite time consuming)and then I'd have to start teaching how they are used in combination with eachother to trigger buy and sell points. That would be very difficult in this venue, especially since I actually use several over lapping methods together to improve accuracy and function as checks and balances to eachother.

I could write an entire chapter on each segment of my system, and probably quite a large book on the whole system. It would be really hard and probably quite impossible to do it in a single, or even multiple post format. There is just too much underlying foundational understanding that one would need to have in order to get it in a quick post. Most don't have that foundation.

Now, *IF* you know how to trade technically based on Fibonacci retracement levels, & *If* you understand the use of support and resistance levels generated by a variety of methods, *If* you know what trend lines are and how to use them, and *If* you know all the major Technical patterns like Double tops & Bottoms, Head & Shoulders formations, 1-2-3 patterns, Chanells (sideways as well as ascending and descending) Bull & Bear flags, Pennants, Triangles (and the differences and why), and *If* you know what a Bollinger Band is as well as what the 4,9, & 18 Bar moving averages are (an how they are used); and you understand how charts are broken down into weekly, Daily, and intra day charts from the 60 min to the 30 &15 min, AND you have a basic understanding of Futures & Commodity contracts, then I can explain by saying:

"Gold just cleared congestion and is making a formation between the 9 Bar moving average and the upper Bolinger band on the Daily chart that is very Bullish. In addition, the charts daily bar close in a "Sprung" position (Meaning heavy upward potential)."

As for figuring a top to this market, we really need to talk to the Elliot wave guys. I think they are the only ones with a true clue, and I don't specialize in that method. Mine is more geared for short term hops.

I have seen some Elliot wave theorists say Gold is on it's way to 1600 or more though, so there is still plenty of room....it all really depends on how strong the economy is, and how high oil prices have to go to really crumble it. Right now there is no end in site.

if the economy is stronger than I think it is Gold will probably follow the Elliot wave predictions, if not then we are in for a wild ride and Gold may not have a foreseeable top side.


you started the thread man, here!

[RD'S Alias - 1A]

Yeah well, I sometimes get a bit over exited when I see market conditions like this. It's hard to contain my self! :D

[RD'S Alias - 1A]

See, this actually proves a recent discovery of mine...that being that Women are actually bad for us and hold guys down and mess up our lives.

See, if it hadn't been for females constantly trying to capture me with thier distracting and wiley ways; and causing me to lose focus on the important things, then I would have had time to focus on those important things, like the markets...and I'd be a frik'n bizzillionare by now.

[bodhitree]

I just started playing the market, so I'm still quite the novice. I'm just using my pizza and beer money, hoping to make some gains on it (and certianly to not lose everything:D)

[BoulderDawg]

Buy Gold? Well, right now Gold is around $1,000/ounce. So to gamble on it and make some real money you are going to have to have a fairly large nest egg.

I guess if I was crazy enough to bet on gold I would buy options. However I'm not quite there yet. Of course there could be something happen next week to drive the price up...one never knows.

Me personally...I would sell

[RD'S Alias - 1A]

Never sell a strong Bull market.

[BoulderDawg]

Never sell a strong Bull market.

Somebody's got to sell. Selling now is better than waiting until everyone and his brpther is trying to dump it.

[RD'S Alias - 1A]

No, because then you are selling high, and buying back when it's higher.

Now if you bought 2-3 weeks ago, I would sell early next week, same as I would do for all the contracts bought today. Why? Becasue the market will retrace soon after that. When it hits support and you see the Bull market is still in place, you buy again, and sell when it runs up a bit.

You Ladder up like this over and over untill one day you sell the peak (thus locking in profits) and it never bounces back from the retracement.

See, there is no real way to know if the Bull Market is over or not once you hit the retracement point, so you exit while it is still high, sit on the side and watch it retrace. Then *IF* the market shows you it was just a retracement and NOT the end of the trend (and ONLY then), you gte back in to ride the next run up.

That way you allways get out just before the price drop, and you never get back in untill you know for sure it's going to make the next run up to the next level.

Right now the last retracment has been confirmed and we can see the Bull Market is as strong as ever so we BUY now to catch the next run up. Later next week when we are at the peak of that run up, we sell and collect $500.00 to $800.00 in profits per contract (think 10 contract Yippeeee).

This method basically gets you out and on the sidelines in the event of a sudden market crash or sudden change in market direction that is in opposition to the current trend....it's how the Big boys allways win, while the little players get caught in the crashes and lose.

[RD'S Alias - 1A]

See, look at the Chart. Yesterday confirmed it was time to buy with a close and range above the 9 Bar Moving average. All indicators are go for higher prices over then next few trading sessions. After which the market will retrace before it's next run up.

We sell when the market signals it is over bought so we get out before the rush and thus lock in profits.

How can we tell when it is time to sell you ask? Look at the chart. You will see the market price starts to drop (Retrace) every time there is a close above the Upper Bollinger Band (The blue one at the top). If you watch the 30 mintue and 60 minute charts you can tell it's going to do that before the trading day closes. When you see this, you sell before the close while the price is above the upper Bollinger band. This locks in your profits as the market declines over the next few days or even weeks.

[RD'S Alias - 1A]

There are some that did not signal the retracement with a close over the upper Bollinger band, but everyone made some sort of indicator to let you know it's time to get out.

At the very least you can look and say hey, I made $750.00 on this trade, I'm getting out now while I am ahead. You might miss some of the run up, but it's allways better to mis the run up, then catch the crash.

[Shaolin Wookie]

See, this actually proves a recent discovery of mine...that being that Women are actually bad for us and hold guys down and mess up our lives.

See, if it hadn't been for females constantly trying to capture me with thier distracting and wiley ways; and causing me to lose focus on the important things, then I would have had time to focus on those important things, like the markets...and I'd be a frik'n bizzillionare by now.

And a virgin.....or gay......or on the news for skimmin' hookers.

[dougadam]

I bought some gold a few year's ago. It has more than doubled in value.

I also have been doing well in forex. The usd/chf buying short has been very profitable.

[dougadam]

Also I do believe my marshal arts training has given me the ability to be wait unil the time is right to buy.

[RD'S Alias - 1A]

Also I do believe my marshal arts training has given me the ability to be wait unill the time is right to buy.

Reply]
Agreed. Martial arts develops the type of unique mind that successful traders NEED to be successful. It gives us the ability to not be swayed by the emotional roller coaster that causes others to get chewed up by the markets.

As for the timing to know when to buy, that is not really the issue. Any block who buys one of these late nite TV trading course can figure out good times to buy...it's knowing when to Get OUT that is important.

Most losses actually occure when really good trades are held too long and what the newbie *Thinks* is a correction was actually a market trend, directional change. They keep holding on convinced it will bounce back and it never does. By the time they get out the market is actually under thier entry point.

This happens near entry points all the time. Take Ken Roberts trading system for example (Ie. most popular late nite TV trading course), his system shows how to enter off of a double bottom formation. Very often a double bottom will retrace back below the entry point, and then rebound and continue on in the new bullish direction. HOWEVER a double Bottom can also signal a CONTINUATION of a trend, or more often just the END of the old trend and a start of just random mostly sideways movement....Ken Roberts has either never figured this out, or just does not have it in his book and video tape series.

So what happens is the newbie sees this, has no fear of a retracement and ends up getting stopped out with a loss not too far under his entry point more often than not. He doesn't worry because he knows one big trade will more than make up for it + some, so he keeps on doing this. His account slowly gets chewed up. After a time, the big trade does not come (because Markets move sideways more then anything), and he has traded away his account in little chunks over time...which is allways the time a really good high profit trade finnally does come....and of course he no longer has the capitol to trade it anymore. This leads him to think he was just underfunded, so he waits until he has twice as much money, tries again and the same process happens...only it takes longer before he goes broke this time.

My system is focused more on the Exit, than the entry. I trade more often, but I win 80% or more of the time. By laddering up a trend one rung at a time, I STILL get all the big trades, but I eliminate all the little losses at the same time.

It's kind of like Martial arts strategy...you position yourself so you have the greatest advantage, but also so the market is least positioned to beat your account up.

[RD'S Alias - 1A]

So I woke up this mornig and saw Gold hit ! 1030 ! over nite. It was around 1027 so I decided that was a good time to exit my paper trade. It started dropping shortly after that. It's still above Fridays entry point, so if you didn't catch the big part of the move, I'd get out now and play it safe. There is too much volatility and Oil went down so Gold is sure to follow.

If you guys look at the charts I posted, I would have gotten in somewhere around the 1000.00 area. To account for slippage I figure 1004 is good. My profit on that trade would be the difference between what I bought it for $1004.00 and what I sold it for $1027.00 or $23.00 an ounce.

Of course the Comex Gold trades 100 OZ at a time, so you multiply that by 100 to get your actual profits.

23.00 X 100 = $2300.00

[RD'S Alias - 1A]

It's up 11.2 right now over yesterday's close. The market could go ANYWHERE today and has no clear direction right now (although Oil is down so it will probably follow).

If you get out now you will have a nice $1120.00 profit since Friday.

I HIGHLY recommend you take the money and run.

[RD'S Alias - 1A]

Gold has now dropped below our entry point, anyone that did not get out earlier today and is still hold contracts are now loosing money.

All in all, it was a good trade and made the fast money even faster than I thought.

[Drake]

Not to sound like a party pooper here, but isn't common knowledge that gold will always increase in value?

[RD'S Alias - 1A]

No, Gold prices go up and down all the time. They go UP in a bad economy, and DOWN in a good economy. Plus Gold (like any commodity) has it's own supply demand aspect to it as well.

[bodhitree]

Not to sound like a party pooper here, but isn't common knowledge that gold will always increase in value?



wrongism,forda10characters

[Drake]

Anyone have a graph of the gold devalue process handy? All chronological like?

[Drake]

I like these guys because they agree with me...

http://www.blanchardonline.com/beru/why_own_gold.php

[RD'S Alias - 1A]

I can post a weekly or maybe monthly chart, but I don't think I can post one going far enough back to show data prior top this current market economy.

[RD'S Alias - 1A]

I can't post the chart, but I can link to a good one.

http://futures.tradingcharts.com/javachart/GD/48?returl=x2

On the top of the chart you see some links. Under the "Period" link, choose the "Monthly" option. That will allow you to scroll back as far as 1975. This will allow you to see the price of Gold for each month over several decades.

You can then find a source of economic data from those yers and see that when we have bad economies or good and see how Gold prices rise when the economy is bad, and how Gold prices drop when the economy is good.

You can also check Oil and see how oil prices effect the economy and also how Oil effect gold prices for the same periods.

[greendragon]

Surprised to see a topic like this here. I trade for a living. Oil is going to go down big as demand lightens. Gold will continue to rise as the dollar continues to drop.
Buy gold and silver now. ETFs, mining companies. Leave futures contracts to the pros. We are in a technical breakout here as far as the charts go. I see 1500 easy enough over the year, if it pulls back buy more. If you're not an investor type, buy gold coins and sell in a few months. As your savings are worth less in buying power every day, this is economic self defense.

[RD'S Alias - 1A]

The Summer driving season is coming though, so we may very well see higher oil prices. It really depends on how high Gass prices have to go before people stop recreational driving.

As for Gold going to 1500, that seems to be about what all the experts are saying. My system does not call such things, it's a swing trading system. I'd have to brush up on my Elliot wave theory to hazzard a guess at how far it's going to go.

Right now I am watching for the next buy signal.

[RD'S Alias - 1A]

Leave futures contracts to the pros.

Reply]
For most people you are right. However martial artists posses the unique mind sets needed for successful futures trading (especially systems with a lot of posture holding), so my advise is that if someone from the forum wants to trade futures, go to the classes at the Board of trade and Merc in Chicago first, then paper trade for 18 months to get the skills down.

Only play with money you can loose. Start with at the Money Options.