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LOL this is gold, good point and well said.

Top post. +1.

When do you reckon $5000 would be reached? Late next year?

I will continue to ride the trend and milk it for as much as I can. If/when it does make that major drop, my stop will keep me out of too much trouble :cool:

Agree, i was just offering my opinion. Good trading.

Correct. In my opinion it wasn't a bubble. $30 to $140 in four years is something like 34%pa, solid, but not overly ridiculous. If gold ever does do something crazy like South Sea back in 1700s or CSCO during dot.com or like it did do back in 1979-1980, then it could drop much more than 70%.

Excuse the poor spelling/grammar. When gold does something ridiculous, like 100-200% in a matter of months, then its not a bubble, just a solid performer. Is meant to say... When gold does something ridiculous, like 100-200% in a matter of months, then its a bubble, until then its just...

Bubble? Are you kidding me. In the 1700s when the South Sea company went from 128 pounds to 550 pounds in 5 months yeah thats a bubble. In 1979-80 when gold went from 250 to 850 in 1 year back in 79 yeh thats a bubble. In 1999-2000 when the nasdaq went from 1700 to 4800 in just 15...

I agree. I anticipate double maxDD in trading as per testing and half the CAR, and if that is not enough for me, than back to the drawing board. eg. If I get a system that backtests at 40%pa with 15%maxDD then I anticipate 20%pa and 30%mDD. If you can sustain 20%pa returns for long...

Im bullish on gold right now, but I agree wholly with the above

I know theres an IB iTWS for iphone. Anything for Blackberry? Thanks.

Really? Buying and holding ain't that hard.

+1

To the OP. Google the name Paul Rotter.

Why especially for newbies?? I think this should apply to anybody who trades short term. Paul Rotter when interviewed by Trader monthly 4 years ago said he always has a max stop loss for the day.

Irrational exuberance? Are you kidding me? How much has it moved y-o-y? Irrational exuberance is when something makes a crazy move (like several hundred percent) in a short period of time (like a year or less). This could just be the beginning of gold. It hasn't gone parabolic yet.

Does that mean its okay if you only use price action in your systems?

Hi, Can you give me the name/link of the datacentre you use? Im keen to look into this also. Cheers.

How about these guys? I havent tried them but I came across them in a google search some months back. http://www.grainmarketresearch.com/one_quick_delivery.cfm Only for nasdaq 100 but the price is like free.

LOL! Gold! :D