Gold

Stockolio · Aug 13, 2019

trader99 said:
I HATE GC!!! I was doing so well in NG. Printing money every day. Today I got up late and saw gold. Got in and got whipped!! The moves in GC are so FAST and VIOLENT! not smooth and steady like NG.

That kind of moves seem to be machine driven. Panic sell! 30pts swing in a few minutes.

I waited for the bounce and got out. Took a loss. Had I sold at the bottom then it would have been catastrophic.

Trump caved in to china, he panicked cause stocks were 5 % below all time highs

trader99 · Aug 13, 2019

Of course, now it's coming to where I would be even!!! WHAT?!!

trader99 · Aug 13, 2019

took a bloodbath this morning for nuttin' Had I just held on it would have come all the way back up... Or it could go down further and wiped out everything. hmm...

Overnight · Aug 13, 2019

trader99 said:
took a bloodbath this morning for nuttin' Had I just held on it would have come all the way back up... Or it could go down further and wiped out everything. hmm...

When are you going to pull up MGC on a chart? I'm telling you... *sighs*

trader99 · Aug 13, 2019

Overnight said:
When are you going to pull up MGC on a chart? I'm telling you... *sighs*

what's the multiplier?

trader99 · Aug 13, 2019

i think it's the VIOLENCE of the moves that shook me out. NG moves so slowly and orderly.

I should have held on.. Set me back 3-4 days.

Overnight · Aug 13, 2019

trader99 said:
what's the multiplier?

Exactly 1/10th the GC. The new equity micros are modeled after it.

trader99 · Aug 13, 2019

Overnight said:
Exactly 1/10th the GC. The new equity micros are modeled after it.

Oh boy! I would definitely have been able to hold through that and even actually end up making money too!

trader99 · Aug 13, 2019

Overnight said:
Exactly 1/10th the GC. The new equity micros are modeled after it.

I can't believe it happened again! So demoralizing. The kind of pented up anger and frustration I have with GC is unbearable! Kind of nasty misery!

Should I continue to trade GC? Or just leave it alone and focus on NG where I'm successful....

themickey · Aug 13, 2019

trader99 said:
I can't believe it happened again! So demoralizing. The kind of pented up anger and frustration I have with GC is unbearable! Kind of nasty misery!

Should I continue to trade GC? Or just leave it alone and focus on NG where I'm successful....

GC is resting atm. If the markets are bullish expect gold to underperform and or chop around.
This month is reporting season, am not expecting any major equity stock market plunges but once the season is over, watch out below.

I remain bullish longer term on gold for this year at least.
Day trading gold or any commodity at any time is not my idea of fun.