Yes, definitely!
Nobody else in the world cares about my entry price, so why should I?
That's how I think, anyways.
RM's occasional market calls...
- Thread starter Rearden Metal
- Start date
Yes, definitely!
Nobody else in the world cares about my entry price, so why should I?
That's how I think, anyways.
Quote from Rearden Metal:
Thanks.
I don't want to be a dick, but I also don't want to give away too much of my strategy/thought process. So I'll tell you what I <i><b>didn't</i></b> use to time this trade: I <b>didn't</b> use Elliot Wave, Fibonacci numbers, RSI, MACD, crossovers, or any guru recommendations.
I also didn't use moving averages or COT.
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Sentiment? Put/call ratio on the ZSL?
I really do not understand all the options, so I guess to what you see.
Hey David good to see you are kicking it and doing well. Good luck with your journal.
Hey, just saw this thread, nice trade.
About the goon squad arrest, just remember that no country is free and the grass is not greener. For example, in the USA you can carry a handgun out in public. If you did that in the UK, you would get surrounded by an armed response team, have assault rifles pointed at you, you'd be handcuffed and thrown in jail, then you would get at least 5 years in prison thanks to mandatory sentencing laws specially designed for firearms "offences". The NRA (yes there is one in the UK; yes, feel free to laugh, I did when I found out) would not send a lawyer to try to win case, they would be condemning you just as much as any of the politicians or public.
What's more, if two intruders burgled your home for the 25th time, and you shot one of them out of fear for your life, you would be tried and convicted for murder, and get a compulsory life sentence, as happened to a farmer in England a few years back. You would have no legal way to defend yourself against any punk with a knife, or just attackers bigger or more numerous than yourself.
Furthermore, if you had made this trade there, you would have paid 0.5% round trip in stamp duty, and would have been taxed at 51% on the gains.
So, don't be too down on the USA, it is not fully free but it is a lot more free than most places in the world.
About the goon squad arrest, just remember that no country is free and the grass is not greener. For example, in the USA you can carry a handgun out in public. If you did that in the UK, you would get surrounded by an armed response team, have assault rifles pointed at you, you'd be handcuffed and thrown in jail, then you would get at least 5 years in prison thanks to mandatory sentencing laws specially designed for firearms "offences". The NRA (yes there is one in the UK; yes, feel free to laugh, I did when I found out) would not send a lawyer to try to win case, they would be condemning you just as much as any of the politicians or public.
What's more, if two intruders burgled your home for the 25th time, and you shot one of them out of fear for your life, you would be tried and convicted for murder, and get a compulsory life sentence, as happened to a farmer in England a few years back. You would have no legal way to defend yourself against any punk with a knife, or just attackers bigger or more numerous than yourself.
Furthermore, if you had made this trade there, you would have paid 0.5% round trip in stamp duty, and would have been taxed at 51% on the gains.
So, don't be too down on the USA, it is not fully free but it is a lot more free than most places in the world.
I've noticed silver tends to have these periods of outperformance once a gold bull market has gone on for a while. I don't know if you remember the move from $4 to $8.50, I traded that back in late 03 early 2004 on the same "catch up" idea. Gold had been rallying for a long time, silver was not rallying, and then all of a sudden silver more than doubled in a few months.
IMO this move was mainly about the whole quantitative easing stuff, there'd be an aggressive move by hot money into turbocharged anti-dollar plays, and also based on the idea that the whole industrial economy is picking up somewhat compared to expectations earlier this year. I think it was mostly just speculative sentiment and hot money (including trend-following funds). Just look at things like cotton or sugar, they made very similar moves. Did 3 unrelated commodities suddenly have almost identical supply/demand shifts because of their internal fundamentals? Or was it was all just Bernanke and a bunch of fast money punters? IMO it was clearly the latter.
CFD is taxed at full income tax rates if you are a professional trader. And I haven't kept up to date with commissions, but they are fairly high.