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Of course, you are correct. The exposure is not to gold but to exploration plays. Now that the JR.'s are off the table what are the pros and cons of using an ETF that holds the bullion vs real mining companies? Does it largely depend on where in the cycle we are?

In the day no one could effectively play the floor's game from off the floor and currently no one can play the HF game without co-location and the bells and whistles that go with it. I think Bill has it right. Retail traders need to be realistic about what types of strategies avoid those head...

It is a straight up contractual obligation. You committed to that term when you opened the account and you are liable. Whether the broker sues or not will be a business decision based on his assessment of his ability to collect vs legal expense. How can people be surprised that they are...

Having been patient over an extended period of time you are in the enviable position of having a significant edge that you have great confidence in. Most have more marginal edges. I think you need to capitalize on BOTH of the significant assets you posses -- your edge and your patience. Don't...

I'm looking for some gold exposure ... maybe through an ETF. Not sure if I want metal, these Jr.'s or something else. I'm a bit out of my element here and a few pros & cons would be helpful.

It is a pretense to act like you can set-up as a retail trader (no matter how sophisticated your retail set-up is) and get every last perk that those who sit in a professional setting receive. The rules are pretty clear that the de facto expiration for retail clients is 3:30 Central Time. The...

Curious as to what the future is in your opinion.

Important post. Arjun has reminded us that discretionary does not equate to doing what you feel like. Discipline is the result of consistently working your edge. And if you find out you don't have one ... finding that out has enormous value.

If you have not made any money in a year when the markets have trended so strongly you need to take a very careful look at your methodology. It would be hard to characterize the last 12 months as a hard market to trade. Leave your ego at the door and rip apart why you are not catching the...

Correct.

I don't know Don but he is clearly very highly regarded by many people who got their start with him. The single best thread I have ever read on ET (or anywhere else for that matter) was from a poster named Maverick who walked his audience through Tape Reading 101 about as well as Henry Ford...

I am suggesting that he should not have an absolute daily target on the upside. Once he hits X he should continue to trade and trail a stop at 50% or 30% or whatever behind X. To anticipate the next question: NO... I DO NOT THINK THERE IS ANY NUMBER ON THE UPSIDE THAT MAKES STOPPING REASONABLE.

One more point. To my way of thinking the only reason to trade ES is because you are trading real size. It is the toughest of the liquid markets. Until you are moving at least 20 cars per trip give ES a pass and look at NQ, E6 (and the other major currencies). Add CL and ZG to the list if...

I have never seen ANY proposition where it made sense to cut your winning time periods short because you hit a target. You might want to "trail a stop" so that once you are up X for the day you will quit if you give 1/2 X back ... but that is very different than cutting it short at X. It is...

The comment was in response to a call for regulation. I didn't realize it was an offshore product but even if it was US based I was calling for congress to be uninvolved!

Going public is one of a number of ways people raise capital. Capital is your problem not establishing a quote for the company. Having owned control positions in two small public companies I can tell you that running a US public company can be time consuming and generally not the best way for...

If LEAPup was able to read the prospectus (or whatever) and determine in minutes how over the top the expense ratio is why do we need congress spending months writing more gov't regs?

piezoe, You are misunderstanding my intent. These have been very good trades for me. I want to understand how others trade in similar ways so I can expand on my limited success. I do have a concern about being too "free form" but undisciplined or disciplined I can't ignore what has worked...

I like the points of view I am hearing. They have value to me. Thanks to all. BTW, I trade only futures. Over 80% of my trades are 6E and NQ and the balance almost entirely other major currencies. I sleep on nothing. I am flat at days end. I intend to mix in gold and crude at some point...

RN, This may sound simplistic (it may even be simplistic) but I have been viewing the setups I use primarily to define my entry, using a stop to enter and placing my "stop loss" (bad term but commonly used) at the point where price would tell me I was wrong. You seem to be saying that if...