Gold

themickey said:
Today I couldn't resist the temptation on this dog and bought 21,000 shares at 48c ea.
Bottom call!
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Sold Dacian Gold today @ $0.545 for a 12.871% profit after 15 calendar days.
There was a price gap up on Jun 19th, today price covered the gap with no bounce in sight, so decided to exit due to lack of buying interest and to retain profits. As mentioned previously, was just a speccy buy to grab what I could grab.
 
This is the only market I know of currently having a melt up.
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Thursday's move on gold was a follow on from Wednesday, the most bullish stock moves I've seen of any market of recent, wondering if this is good or bad, time will tell, in the meantime it's not bearish so will just hang on in.
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themickey said:
Thursday's move on gold was a follow on from Wednesday, the most bullish stock moves I've seen of any market of recent, wondering if this is good or bad, time will tell, in the meantime it's not bearish so will just hang on in.
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I'm very frustrated with gold. I've made money in the past.

Yesterday I missed out on a huge rally because I was in other stuff then I went to lunch when the huge rally happened. Today I got in and gold is pullbacking like crazy!! Geez!

I think every time dollar goes up gold goes to the dumpsters. Every time dollar goes down gold goes up like crazy.

Now I'm stuck in this position. I can't believe it happened again. I told myself to focus on stocks and only occasionally futures. Now I'm stuck in gold futures. I have to swing trade this one since the daily, weekly, monthly still looks very bullish. I have short pain threshold that's why this thrashing around and violent moves in gold is so frustrating.

I'm thinking the Fed will cut and Trump will beat down the dollar and gold will rally the next week or two. But right now, I have to hold through this bullshit.

Rally hard one day. Dump the next day. Maybe I should just daytrade it since I can't stomach the moves.

From intraday basis, I should have shorted and made a bunch. From a longer term perspective, I should buy and accumulate. But my account is too small for these crazy moves in GC.
 
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trader99 said:
I'm very frustrated with gold. I've made money in the past.

Yesterday I missed out on a huge rally because I was in other stuff then I went to lunch when the huge rally happened. Today I got in and gold is pullbacking like crazy!! Geez!

I think every time dollar goes up gold goes to the dumpsters. Every time dollar goes down gold goes up like crazy.

Now I'm stuck in this position. I can't believe it happened again. I told myself to focus on stocks and only occasionally futures. Now I'm stuck in gold futures. I have to swing trade this one since the daily, weekly, monthly still looks very bullish. I have short pain threshold that's why this thrashing around and violent moves in gold is so frustrating.

I'm thinking the Fed will cut and Trump will beat down the dollar and gold will rally the next week or two. But right now, I have to hold through this bullshit.

Rally hard one day. Dump the next day. Maybe I should just daytrade it since I can't stomach the moves.

From intraday basis, I should have shorted and made a bunch. From a longer term perspective, I should buy and accumulate. But my account is too small for these crazy moves in GC.
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If you wish to mess with gold, but don't understand it's foibles, do MGC. Never get into GC unless you know what drives it. MGC for teh win.
 
Overnight said:
If you wish to mess with gold, but don't understand it's foibles, do MGC. Never get into GC unless you know what drives it. MGC for teh win.
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Yea. I couldn't believe it happened again. From late Aug 2018 to Jan 2019 I made good money on GLD options. Then I lose a bunch in April in a failed breakout. Now I'm back again since it looks like this breakout is for reals.

Then today happened. Fck it! Maybe I should just stick with stocks.
 
trader99 said:
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Then today happened. Fck it! Maybe I should just stick with stocks.
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Disagree. Work with the MGC. It has been there for a long long time. Folks who are loving the equity micros right now don't realize that there has been a non-equity micro available to them, with great liquidity and fills, all this time. Use it to your advantage!

And I ain't talking the micro currencies, those are crap. In relation. :-)
 
MGC is highly correlated to Dow Global index.
If possible, my opinion is maybe better off trading MSCI for bang for bucks.
Attached is correlation chart of MGC vs DOW Global vs MSCI.
Average daily turnover for trading MSCI is approx $120 million per day, so healthy enough liquidity for a retail trader.
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