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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8935
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
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jacek
Melbourne, Australia
Posts: 2579
13 years ago
Aug 19, 2011 21:40
wow cat.. talking patterns now.. welcome to the club:-)
cat0nip
Frankfurt, Germany
Posts: 1632
13 years ago
Aug 19, 2011 21:22
no dead cat bounce... looks much like a well known crash pattern but the last leg up is missing yet. If it comes then next targets are way below 1100 for S&P and below 10000 for DOW.
Qingyu
manchester, UK
Posts: 1763
13 years ago
Aug 19, 2011 16:07
yes, thank you, dave! :)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Aug 19, 2011 14:49
Its very important not to damage your psychological bank like the ausiie trade last year. Its as important as your money bank.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Aug 19, 2011 14:45
for example if you were trading gold long today on the daily timeframe you would not want to see price take out todays low. If it did that it means the mkt will go lower so why would you want to stay with the trade because you read it wrong.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Aug 19, 2011 14:42
yeah, the answer to that one is your initial stop was not tight enough. Always know at what point your trade idea is invalidated and place a hard stop when you enter the trade and if a trade requires a wide stop do not take the trade. Only take trade set-ups with tight stops.
Qingyu
manchester, UK
Posts: 1763
13 years ago
Aug 19, 2011 14:33
feeling
Qingyu
manchester, UK
Posts: 1763
13 years ago
Aug 19, 2011 14:32
dave, cmc is ok. i just make sure never in the situation like aussie short last year.

really bad felling, although no real lose.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Aug 19, 2011 14:28
It is best to trade with 2 or 3 lots so you can remove half to take some profit or remove 1/3rds. Its easier to stay with a trend that way and just keep moving up the remaining stops as the trend develops. Less fear once you have banked the first lot and moved stops to b/e.
subway90
Posts: 1078
13 years ago
Aug 19, 2011 14:27
as long as Gold trades above 1830.... see extension to 1960/70.... below 1825.... may see correction to test 1725 support....
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