I think trying to trade long term on $2,500 account is near impossible especially not using options, and to trading high flyers like Gold and Silver, doesn't take much of a move where margins go much higher for overnite. It is hard to trade full contracts at different times cause the spreads on bid/ask for options are insane. I would think trading lesser margined markets be the way to go, cause even when Silver bottoms, I doubt margins be smaller? Of course, if Silver goes much lower as I think Gold will and then goes sideways and forms tight bars, smaller margins will return. The best way to go is trading Spreads where margins usually much lower and can still give great bang for the buck.
New Gold and Silver Journal
- Thread starter actionzip54
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Uh huh so whats the point of even bothering with this with just 0.5% of your account in it? It wouldn't do anything to your account even if gold went up 20% from here (0.1% of your account), unless you just want to be "right" (as opposed to making money)?
No idea what this is about but nobody is angry here (maybe you are I don't know)... also I think the people who have ego issues tend to be the ones who can never see the error of their ways, even after they have lost money/been proven wrong they appear to be dead set on doing the same thing over and over again.
I won't read/reply to this thread again since you appear to think I was being a pompous ass for offering some constructive criticism. GL.
Lulz.
I just need to be right bro.... Or not I allocated a certain amount to try to pick a bottom. If I'm wrong so be it. I don't need the constructive criticism. Let's just see what happens. If I lose my money, then so be it. You were the one riding in thumping his chest proclaiming how right you were.
$2500 allocated to picking a long term bottom can end up being quite a bit as well if I'm able to get it on in the right spot.
I am out of here too. I can see where this is heading.
Rather I should have seen it earlier with someone seeing bargain prices the lower something goes ... with at the same time no true bottom anywhere in sight.
Good luck and I do mean that sincerely, not sarcastically . Maybe the charts are all wrong or our reading of them.
Rather I should have seen it earlier with someone seeing bargain prices the lower something goes ... with at the same time no true bottom anywhere in sight.
Good luck and I do mean that sincerely, not sarcastically . Maybe the charts are all wrong or our reading of them.
Lol, wow. Going against the crowd always brings out the haters.
On that note, going to do huge volume today in GC. If we close higher on the week I would say that's a pretty serious reversal print on a weekly chart.
Once again "Good luck and I do mean that sincerely, not sarcastically."
Am going to sleep away the weekend, got stopped out with very small gain on last long but covered the loss in option. I just sat on my hands as 15.12 was broken, just waiting for a two minute high be broken and when it was went long some, then it came back down a bit and formed support at 15.065 and took on more in that area. Bid/Ask in options were too wide or non existent, so no option play, a problem in middle of night. There was reduction of volume on lows, figured that might be bottom. Although price has come up, I don't think this is the bottom and I can't buy Gold, as it not gone low enough for me to buy yet so I have remain short Gold and Copper. Although there's divergence on weekly, no where close to getting out, chart enclosed. So here I sit.
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I never gotten that at all, matter of fact people just laugh at me past twenty years saying things like I am going to lose my shirt, I am glad they are narrow minded. Trading is all about risk, if you understand and know how to cover risk, you will make money, if you don't, then stay with what works for you. Trading is not about doing what is logical, it is about have a game plan and sticking to it.
Yeah, so much of it is pretty laughable in the end. I mean I think it's pretty obvious I'm trading small and the one guy is blasting me for taking a "huge" loss. Pffffffft! Also, averagaing in on long term trades is for suckers huh? What do you think Buffett did?