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For this intraday timeframe, I use a tight stop. For the AAPL trade around 80 cents for instance.

So you hold it while it is underwater for a few days, and when it finally is in the green you sell it because there are better trades? Yeah, right ...

As a scalper (6E futs), I trade the trends that occur on my timeframe by taking bite-sized chunks out of their up(or down)legs; sometimes the retracements are tradable as well. Sometimes I sit through the retracements if I'm really sure of the trend. But I don't treat trends as something...

Why so soon? I foresee some more downward action.

Looks like Uncle Ho's puts are getting profitable after all ... I wouldn't be too greedy if I were him.

Stoploss hit @ 4641.40

Do you know another solution? And it is not money printed per se that makes gold go up, it's junk on the FED's book. Besides, it already has had an enormous run-up with no inflation in sight, so ...

Another attempt @ 1648.50

Stopped out at 1643.10

Stop is almost hit now, not a great entry

I don't like the trend is your friend, most trends are stopped short. You must trade movement, whether it is in trend, range or chop. The movement is caused by several factors: imbalance, momentum ... etc.

Went long @ 1653, see how they'll go

A good entry should feel uncomfortable. Most would want to enter on a dip, buying just after a top has formed.

Your handle says it all I think? :p Gold may be a long on the shorter timeframe, to say 1725, but I see some very nice short action coming after the formation of a top.

The only thing that makes me doubt is not enough bearish posts. This is usually a good contra-indicator. Maybe it counts that the longs don't have a position and the short does? Why don't you guys get long? It seems fairly easy money?

LOL I'm afraid I'm already past that stage. There's hope for Uncle Ho, see the resistance line and rising wedge (strange that noone mentioned them?). False hope I'm afraid though.

Only problem with sitting on my butt all day is that I grow horizontally. Thankfully the GF doesn't mind.

:D that's certainly true. And I have real fun trading; am not bored by it yet. Especially prop trading with 20:1 buying power.

Actually I'm not satisfied with this trade; I left profits on the table. Now, if my exit was based on rational grounds, this wouldn't bother me. But my reasoning was as follows: it dropped 50 cents from the high, and I couldn't bear to let go of more than that amount from such a nice profit...

Actually 6.3:1; I always use a tight stoploss and have a high expectancy value, so I can take on this kind of risk.