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Cash for gold. What is that an advertisement for? Someone wants to BUY your gold. They're soliciting for people willing to sell because they want to BUY. That's BUYERS working to find sellers. It's the sellers that are the rare commodity. Yes, I own 50 peso gold coins from an...

You're quoting the gold numbers at the top of a bubble. It's like coming about a year ago and saying oil is the best investment ever because you're quoting the % return at $140.

But the point remains that the gold "trade" is nothing more than break-even. However, you're risking some solid downside. Let's see... proof that gold is overcrowded... It makes news headlines almost every night. I'm getting family and co-works telling me to buy gold (people that know...

You come out break even, that's the point. How is that a trade? The gold bulls think they're making money. Best case scenario, you're break even. Worst case scenario, you get in at the top of an extremely overcrowded trade and it tanks. I don't know what your risk/reward strategy is, but a...

Good point. So let's say we do get a single, world currency. What happens to gold then? Is it the same situation? Your ounce is worth $1,000,000, 500,000 Euros, $100,000,000 Yen.... and 500 new world dollars... what did you just accomplish?

So, best case senario for you: gold goes to $999,999... so what? Gold is a play on ALL fiat collapse. If you're banking on solely a USD collapse, then you're going to be sorely disappointed when your ounce of gold gets you $999,999 dollars, but only 800 Euros. That was my point. If you...

So has printing our way to Dow 50k, doesn't mean it's sustainable. Keep your stops tight.

Doesn't matter. This idea that everyone can just go long the market, long gold, and short the dollar, and make money, is ridiculous. These are three overcrowded bubble trades, IMO. These people are going to get slaughtered in due time.

This is my logic as well. The market doesn't let this many people be right for this much money for this long. IMO, gold will be unraveling shortly. And what better day than today? Dow is failing 10,500... let it all come down...

The past is in the past. The only thing that effects THIS trade is what's happening NOW.

You too. Good luck!

For Forex I only use Fibs when they correctly line up with at least a couple existing S/R levels. For equities I use a 10ma/30ema combination and 3/20 period Williams %r's for extra confirmation on trend entires, although I'm using them less and less as time goes on. Pure S/R is where it's...

How do you guys stay solvent in a trade of that length? The swings must be huge. Or are you not in a single position? Do you in and out, but with a short Yen bias?

No, just psychology 101. :p

Generally I start from the daily down. Goes something like: - Check daily trend - Check hourly trend - Check 15 min trend - Back to hourly, look for S/R - Look for same S/R on 15 min - Find an entry on the 15 min that's with the hourly trend (with the daily is just a bonus, most of my...

Excellent points, all. I suppose it's just hard for me to quantify how I trade and how I decide my mental stop points. But, you're right, they are planned ahead of time. I do look to make sure that my position is a good play on the 15min and the 1hr. The more time frames that a particular...

Excellent discussion on that here: http://www.forexfactory.com/showthread.php?t=57639

That's interesting. We really must trade similarly. I'm at 76% with an average win of 7 pips and an average loss of 9 pips. fyi, the w/l is small because I only trade a couple hours per day so I'm forced to play short moves because, as already stated, I don't leave positions unattended.

My thinking may change in time, but I think the real issue is you're assuming too much and not understanding what I'm saying. Let's say I take a position. I plan to make 10 pips on this play. The trade goes against me 10 pips. Whether -10 pips is mathematically over my single trade risk...