Posts by "daveo"

I'm surprised AL still trading silver

quick peep of NYSE opening. I always wondered what all the clapping is about at the opening. Are they clapping that bunch of rogues down in the pit :-)

I think anyone subscribing to the premium paid service would benefit from spending time researching the archives to get the whole "feel" for how technicals, correlations and fundamentals bias are pulled together. Then you are better equipped to judge which trade calls you wish to take. Sometimes these are many and frequent so its unlikely you would wish to select all. Other times require greater selectivity by Ashraf to protect his performance record. All depends where the various markets are positioned at any specific time. A filter to maximise results over each 12 month period if you like.

Nothing more damaging than over-trading when mkts are confused. Being selective pays dividends in the long run and we just have to build our self discipine to stick to our trade plan whatever that might be.

Following trade signal services blindfold is not a good plan. Do the "work" to understand exactly what is generating the signals. Imagine the service (however good) might some day come to an end for a variety of reasons. Then you are suddenly on yer own jack and open to making consistent losses instead of consistent profits. There is a huge difference between the two scenarios.

If I were in Ashraf's position I would not provide a free one week trial. Why? because it takes longer than a week to fully assess the true benefits.

I have known traders bumping from one signal service to the next and 5 yrs later they are still themselves comparitively ignorant incompetant traders. This is because they want to lean on others and avoid doing the necessary work to become independant.

Ashraf is currently providing a valuable service and the subscription charge is peanuts at $90/month. Should be able to cover that in no time at all. The point I make is to take advantage of the "education" whilst it exists and forget about wanting everything for nothing, finding ways of sidestepping a few measly dollars. Take a sub for 3 months to force yourself into a fair appraisal.

This is my message to yu hu hu.

Ashraf, thanks for reply. I use simple at the close, checked that, and my weekly candles are closing off at 10.00 pm uk time Fridays which I think is correct even though London is the primary forex dealer. No worries I shall see if I have data corruptions.

@Olivier, thanks for your suggestions which has got me checking a number of things in my software. I can't send you a chart capture because it originates from the premium subscription service. I seem to have the discrepancies only on eurusd and gbpusd weekly charts which is odd to say the least.

Cat, yes I did overlook the impending US holiday weekend for labour day. Agree it could be the explanation for vix. If my read it correct on stocks (SPX etc) we are now seeing the early stages of wave 5 down to a lower low, this would take the form of 5 waves within and once finished we would expect to see a multi day retracement back up to about the 61.8% to 78.6% of the entire move down. Following that the next move down would be very impulsive and will likely trigger much higher gold prices. All subject to confirmation as the structure develops further:-)

Qingyu, I think Ashraf attaches much credence to the gold silver ratio, reverting back to the mean over time, but you are right about gold having overtaken silver for many months and then silver did its parabolic catch-up trick and fell back equally quickly. When silver was lagging badly behind there were many commentators saying that silver was the one to trade but it took some months for them to be eventually proven right ! Now we are into the India silver season I would expect silver to make some further advances, particularly in this present climate of fear.

Silver has much greater industrial application than gold and gold has much greater safe haven quality than silver. It is also traded by the central banks, don't forget that. Early last decade some CB's were selling their gold, uk being a classic example when gold was $250 ! I have always found gold easier to analyse so I am mostly trading gold instead of silver. I never trade them both together. Be careful about always looking for the ultimate tops because they are impossible to predict. Once the world gets into a recognisable deflationary spiral gold will likely crater. The charts will give us plenty of warning to catch a lot of shorts. Meanwhile the charts are still telling us bull mode on gold, not so sure about silver for new highs.