Posts by "bigbaby"

Sorry sir, to be fair, none of the 3 websites I frequent, viz. EWI, Elliott Wave Lives On or Elliott Wave predictions opined selling. In fact the 3 or so metal websites GoldnSilver, Silver.org & Casey Research have been advocating a buy even at these so-called "high" levels. This is the only forum that I visit and where I utter some nonsense. Thanks for the anonymity of this internet thingy.

Not giving excuses here but I think I do tend to get caught up with fading when I see others do it. I am generalising, but one glance at the posts and you feel that many are trying to pick a bottom with the USD or top is some other counter and it feels safe to be doing it with others. Typical greenhorn tendencies, I guess.

That is why I feel the need for someone above to shout at me to do the right thing.

@daveoO.

I subscribe to the same philosophy. "Do the job right and everything else will follow". But to get to do the job right, one must be passionate about their job, IMHO. "Chase money and money will find a way to run away from you"- they say. This market adds another factor into the mix, that is ego. Apart from discipine, I suspect that ego is the other factor that lets traders down.

To have the "passion" is one thing and to keep the passion sustained is yet another, IMHO.

Most people make their money from their careers and not from investments. Am acutely aware of that, so I will have to hold on to my day job.

The most convenient target to set is a monetary one. I would be lying if I said that I am only in it for learning. Funny that money enables us to measure our success in matters that we otherwise wouldnt be able to measure.

Have read so many times that breaking even in these markets is an achievement in itself. So with that in mind I am hoping to break even during the first 2 years and am aiming for 10% returns p.a thereafter.

My entrance into the markets(beginning of this year) coincided with the rise in metal prices. So that piqued my interest in gold and silver and I am getting impatient to trade in them. Have been persuaded and brainwashed into thinking that they are the ultimate currency and store of value(not by EWI definitely).

These 'barbaric metals' are now looking sexy, i.e the physical bars and coins.

So while accumulating them, I felt it would be fun to also engage in some longer term paper gold investments and some small time paper trades in these metals.

I realise I have a fatal attraction going on in here- with apparently 2 difficult subjects- EWA & Gold/Silver.

But like they say, better to have tried and failed than not to try at all.

@dave, I did have a look at R Miner's website the other day and visited it again just now.

It appears that they have lots and lots of vids and courses but no human tutor or personal coaching at their end. I could be wrong but the latter's what I am really after, quite apart for some pointers for long term positioning.

(Pure vids in this regard smack of a lack of passion, when passion is what matters most with all great things in life).

Anyways I have sent them an email to clarify all that.

Thanks, I will follow up with them when they respond.

P.S: It's incumbent to impart the skills/knowledge that you have on to others. Greater merit and satisfaction there, I suppose, especially if you make a good teacher. Can see that you are already doing that in part in this forum. Great. Just wish I could understand all this tech stuff you talk about sometimes. Let alone that, I had to actually google to find out what "CL" means !

Hi daveO,

Cant deny anything of what you have said about them, having experienced them first hand recently.

Perhaps my biggest gripe with them is that they give no clue as to where or when to cut any loss, save in some instances lately involving silver. Well I dunno, maybe I am expected to subscribe to their more expensive "speciality service" for their revelation of exit points or they are assuming that only experienced traders subscribe to them.

Frankly I have no qualms shelling out $199 p.m for their speciality service. I can actually live with a wrong advice or opinion but it is their unbending approach(at least for the last 3 months and for the last 2 years or so from what I hear) to trading, or investing, which is scaring me.

As a novice I was taken in by their overall presentation style, countless educational videos and most importantly the availability of their many tutors for the different markets at their site. It looked like a very formal and structured setting catered for learning. It has been about 3 months now, but unfortunately I am still scared of going to them for lessons.

I will readily admit that I am the impatient and gambling sort. My John Wayne style of shooting from the hips with whimsical entry and exit points is not going to get me far, I realise. That should explain my starting to trade without engaging in any "formal education" in trading. I am trying to learn on-the-job with some "experts" teaching me and guiding me, all at the same time.

Sid's webinar of Elliott Wave Predictions was oversubscribed last Sunday so I will endeavour to attend his next one. He looks old enough to be a teacher of Elliott Wave principles to me. His videos which address recent and expected moves are thus far impressive. What can I say ? I fall for first impressions easily.

Got to submit to a guru sooner or later anyway. Anyways that's how I see it. I would imagine that for most of us, a teacher or guru (or whatever one may call them) is necessary to learn the ropes and to go on and succeed- in any trade, pardon the pun. Really cannot emphasize enough the need for some proper and formal education in any field of interest prior to egagement.

Being self taught is of course a cool concept. But without any guidance from a mentor, I cant really see myself working through this myriad of tools and information.

Ok sorry, I was just rambling whilst waiting for gold to hit my arbitrary targets. Thanks for reading this post if you made it this far.