This thread is for those who trade gold/silver based on technical analysis and rational fundamentals. Everyone is welcome, but please keep your posts on topic.
If you believe in conspiracies, cabals, the imminent collapse of the US economy, etc. that is fine. There are plenty of threads available. Likewise, if you are a buy and hold investor, gold bug, perma-bear, or troll - there are plenty of threads for you too.
I would like to start with a discussion of our approaches to trading this market. I'll start.
I am by no means a big league trader. My goal is extract between $500-$1000 per week from this market. It is not how I make my living, rather, it is a hobby that helps to pay for other indulgences. My long term investments are in realestate and several businesses that I own.
My basic strategy is to buy at resistance and sell at support. I typically trade around a core position if I feel there is an intermediate term trend. Otherwise, I close positions often.
Right now I only trade futures. Specifically, Full Size Gold/Silver for core positions and minis for day/swing trading.
It is my hope that there are other "traders" on this forum who will join this thread for the purposes of sharing their thoughts, strategies, indicators etc.
My only motivation is to improve my skills. If you share this motivation I look forward to your posts.
Sunday, December 19, 2010
Gold Holders... Get the Best of Both Worlds!
"Grandpa, how'd you get so rich?"
"Well son, intially I had invested in gold, but I noticed a drove of people holding silver wanting to exchange at 60 for gold, then 50, then 45, then 40, and 35 and so on down to 15"
"Grandpa, why would so many silvers holders exchange for gold?"
"...because they weren't very bright...so most of us gold holders acquired all their potential wealth too"
Sorry..can't stand the silver forum right now...getting breath of fresh air over here in gold forum. I'm going to start buying gold to spite their potential wealth and lack of knowledge thereof.
"Well son, intially I had invested in gold, but I noticed a drove of people holding silver wanting to exchange at 60 for gold, then 50, then 45, then 40, and 35 and so on down to 15"
"Grandpa, why would so many silvers holders exchange for gold?"
"...because they weren't very bright...so most of us gold holders acquired all their potential wealth too"
Sorry..can't stand the silver forum right now...getting breath of fresh air over here in gold forum. I'm going to start buying gold to spite their potential wealth and lack of knowledge thereof.
An hour with Jim Rickards and the once and future money
ear Friend of GATA and Gold:
Market intelligence analyst James G. Rickards of research firm Omnis Inc. made a long presentation to the "Rethinking the Future International Security Environment" conference held Dec. 7 in Washington by the Applied Physics Laboratory of Johns Hopkins University. The second half of Rickards' presentation elaborated on his recent incisive observations about gold, as expressed at King World News and elsewhere.
Rickards told the Johns Hopkins conference that he considers gold to be the secret economic weapon of the U.S. government, and he noted that devaluing currencies against gold in times of economic distress has been done frequently throughout history.
He said he expects the United States to avert the dollar's collapse by returning it to a gold standard or even to avert the collapse of currencies worldwide by sponsoring a new gold-backed international currency, with gold revalued to perhaps $4,000 per ounce under either scenario. During the question period at the end of his presentation Rickards asserted that the paper gold markets in New York and London have sold claims to far more gold than the sellers possess or likely can obtain and that those markets will crash and resort to cash settlement if enough buyers ever try to take delivery. Of course that has been one of GATA's main arguments lately.
Link to above...
http://news.goldseek.com/GATA/1292595937.php
Link to hour video of Rickards...
http://outerdnn.outer.jhuapl.edu/ret...tionVideo.aspx
Market intelligence analyst James G. Rickards of research firm Omnis Inc. made a long presentation to the "Rethinking the Future International Security Environment" conference held Dec. 7 in Washington by the Applied Physics Laboratory of Johns Hopkins University. The second half of Rickards' presentation elaborated on his recent incisive observations about gold, as expressed at King World News and elsewhere.
Rickards told the Johns Hopkins conference that he considers gold to be the secret economic weapon of the U.S. government, and he noted that devaluing currencies against gold in times of economic distress has been done frequently throughout history.
He said he expects the United States to avert the dollar's collapse by returning it to a gold standard or even to avert the collapse of currencies worldwide by sponsoring a new gold-backed international currency, with gold revalued to perhaps $4,000 per ounce under either scenario. During the question period at the end of his presentation Rickards asserted that the paper gold markets in New York and London have sold claims to far more gold than the sellers possess or likely can obtain and that those markets will crash and resort to cash settlement if enough buyers ever try to take delivery. Of course that has been one of GATA's main arguments lately.
Link to above...
http://news.goldseek.com/GATA/1292595937.php
Link to hour video of Rickards...
http://outerdnn.outer.jhuapl.edu/ret...tionVideo.aspx
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