SA Market Forecaster Gold Trade

MKTrader said:
A public service announcement...since I don't think the sponsor will do this. The following gold trade (Sep 1400 Put option) was stopped out today, two days after entry, as spot gold (XAUUSD) exceeded his stop of 1504 (see highlighted area with daily high-low).

"As soon as gold spot xauusd touches @$1471
Will book profit as soon as gold touches $1286
Probably this trade may fetch 5000% return
Stop loss if gold spot xauusd gives a day close above 1504"
https://www.elitetrader.com/et/threads/how-i-will-multiply-money-in-gold-trade.334726/

View attachment 206801
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In all likely hood, in several days he'll come out and say he nailed it. LOL
 
From cnbc.com, 5:04pm EDT



Gold / US Dollar Spot (XAU=:Exchange)

Real Time Quote | Exchange | USD
Last | 5:04:00 PM EDT
1,501.05
+27.18 (+1.84%)


LMAO!
 
tiddlywinks said:
That's why I find it so funny/stoopid!

SA has all the cover needed (today) for the trade to live.
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Well, he doesn't in a sense, because tomorrow gold spot can close at 1550, say.

So then what happens? Would be worse off if it does close at that level tomorrow, or if he had just closed when the spot hit 1504 intraday?​
 
Overnight said:
Well, he doesn't in a sense, because tomorrow gold spot can close at 1550, say.

So then what happens? Would be worse off if it does close at that level tomorrow, or if he had just closed when the spot hit 1504 intraday?​
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You are projecting YOUR ideas onto SA's PLAN...

He stated a CLOSE above 1504. As such, that PLAN already considers additional drawdown, as is the current situation. He did not include an "uncle" point. If the plan required a price touch only, the trade would have flattened at a loss, and SA would be analyzing his planet transits looking for the exact date and time of NEXT.

Frankly, that is his problem IMO... He is specifying both exact dates and exact prices. IMO, thats a deadly pair. It's one or the other AS A SPECIFIC, but not both. IMO.
 
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tiddlywinks said:
You are projecting YOUR ideas onto SA's PLAN...

He stated a CLOSE above 1504. As such, that PLAN already considers additional drawdown, as is the current situation. He did not include an "uncle" point. If the plan required a price touch only, the trade would have flattened at a loss, and SA would be analyzing his planet transits looking for the exact date and time of NEXT.

Frankly, that is his problem IMO... He is specifying both exact dates and exact prices. IMO, thats a deadly pair. It's one or the other AS A SPECIFIC, but not both. IMO.
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Since OP is buying a put, additional drawdown doesn't matter much. It's already almost worthless. However, if you were trading futures, it would make a big difference if you stopped out at 1504 or you waited for a close above 1504 and it happened to be 1530 or something.
 
MKTrader said:
Since OP is buying a put, additional drawdown doesn't matter much. It's already almost worthless. However, if you were trading futures, it would make a big difference if you stopped out at 1504 or you waited for a close above 1504 and it happened to be 1530 or something.
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Thanks for that MK. I see these bits in only futures terms, not options. I am slowly trying to understand.
 
MKTrader said:
Since OP is buying a put, additional drawdown doesn't matter much. It's already almost worthless. However, if you were trading futures, it would make a big difference if you stopped out at 1504 or you waited for a close above 1504 and it happened to be 1530 or something.
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Agreed. My mindset is futures.

But this goes along with my thought of exact date and exact price being deadly... time decay will now dictate the final outcome.
 
WHY do counter trend aka kamikazae trading?
Gold has been very bullish with many long blue candles over the past few days.

You can still short gold but that's only for day trading, not swing trading.
 
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