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Shorts are winning.....
Gold Daytraders
- Thread starter Uncle Festivus
- Start date
BIG: A Double Bottom For Gold ?
May 20, 2013
http://www.bespokeinvest.com/thinkbig/2013/5/20/a-double-bottom-for-gold.html
***
May 20, 2013
http://www.bespokeinvest.com/thinkbig/2013/5/20/a-double-bottom-for-gold.html
***
CanOz
Home runs feel good, but base hits pay bills!
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Re: Gold Daytraders - Stop Run Strategy
Does my guestimation of a top for the POG of $1414 fit with your calcs?
Does my guestimation of a top for the POG of $1414 fit with your calcs?
CanOz
Home runs feel good, but base hits pay bills!
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Really got smacked around last night with slippage on five of my stop run entries. I can't see how this is realistically possible with live stop orders in the market, but we'll be testing it today with 2 cars live this evening. Now i just need to be patient and wait for volume and volatility. Slippage should be positive, or rare.
Here's the results from yesterdays Sim.
On a positive note, the new ISP seems to hold up until about 730 pm and it disconnects, then reconnects.
So far its maintaining a b+ quality connection where the previous one degraded to a C after dinner.
Cheers,
CanOz
Here's the results from yesterdays Sim.
On a positive note, the new ISP seems to hold up until about 730 pm and it disconnects, then reconnects.
So far its maintaining a b+ quality connection where the previous one degraded to a C after dinner.
Cheers,
CanOz
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I realise you're having ISP problems CanOz but if TWS if disconnecting at the same time each day then it would pay to check what time the auto logoff is set to in the global configuration. ( You've probably checked it but thought I'd mention it in case you may haave overlooked it)
CanOz
Home runs feel good, but base hits pay bills!
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lol
thanks Captain...i wish it had only been that
. Actually TWS is ok, it disconnects every day at noon here, and reconnects fine. They swap servers and they say there is nothing they can do about it, that's cool.It was AMP / CQG that was poor. It was disconnecting from the NT server
, presumably in Denver. So i swapped ISPs and went to a 20 mb line
. The quality is better and speed is much better, although that's not some thing i always notice, more so the quality and connectivity.Anyway, so far so good, fingers and toes crossed.
CanOz
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lol
I figured you'd have it sorted but I've seen posts in the past about the auto logoff with TWS and thought I'd mention it just in case
It was AMP / CQG that was poor. It was disconnecting from the NT server
Anyway, so far so good, fingers and toes crossed.
Yep, a reliable service is paramount for trading. (Without getting into a political discussion), I'm focusing on towns with NBN fibre already installed for our move to Tassie, the copper network is too unreliable in a lot of places. NBN fibre with NextG as a backup is our plan. Currently have ADSL 2 with NextG backup where I am at the moment but we have fairly corroded copper here so it drops out if we get strong wind or rain. A router with an auto switchover to NextG helps
A good ISP helps too. I've tried most of them out and keep coming back to Internode.
CanOz
Home runs feel good, but base hits pay bills!
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I figured you'd have it sorted but I've seen posts in the past about the auto logoff with TWS and thought I'd mention it just in case
Yep, a reliable service is paramount for trading. (Without getting into a political discussion), I'm focusing on towns with NBN fibre already installed for our move to Tassie, the copper network is too unreliable in a lot of places. NBN fibre with NextG as a backup is our plan. Currently have ADSL 2 with NextG backup where I am at the moment but we have fairly corroded copper here so it drops out if we get strong wind or rain. A router with an auto switchover to NextG helps
A good ISP helps too. I've tried most of them out and keep coming back to Internode.
Still trading the Kospi Cap? I like that market too, but ya just can't beat Crude and Gold for opportunity (liquidity + volatility
).Now, back to figuring out the best way to capitalize on that...
CanOz
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Still trading the Kospi Cap? I like that market too, but ya just can't beat Crude and Gold for opportunity (liquidity + volatility
Now, back to figuring out the best way to capitalize on that...
Yeh, still day trading the Kospi. The VSA indicators I've developed in Amibroker work well on the Kospi and the Dax. It took a lot of testing a few years ago to get to the stage where I had a positive expectancy with a few reliable setups and while I've looked at other contracts to trade I like to focus on getting one thing right before spreading myself too thin.
I have mechanical systems on the ASX that I've traded for over 10 years and still trade today that gave me the foundation to move onto more discretionary futures trading. At the moment the ASX systems are providing good capital growth and the index futures are paying the bills as well as providing extra capital into the ASX systems. I'm more or less happily retired now so will probably focus more on longer term systems on the ASX and the US rather than adding more day trading. Part of the reason for the move to Tassie is to spend more time out bushwalking and paddling and less time in front of a screen.
CanOz
Home runs feel good, but base hits pay bills!
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Yeh, still day trading the Kospi. The VSA indicators I've developed in Amibroker work well on the Kospi and the Dax. It took a lot of testing a few years ago to get to the stage where I had a positive expectancy with a few reliable setups and while I've looked at other contracts to trade I like to focus on getting one thing right before spreading myself too thin.
I have mechanical systems on the ASX that I've traded for over 10 years and still trade today that gave me the foundation to move onto more discretionary futures trading. At the moment the ASX systems are providing good capital growth and the index futures are paying the bills as well as providing extra capital into the ASX systems. I'm more or less happily retired now so will probably focus more on longer term systems on the ASX and the US rather than adding more day trading. Part of the reason for the move to Tassie is to spend more time out bushwalking and paddling and less time in front of a screen.
Yeah that's my plan as well. I'm just focusing on GC and CL now, with a view to moving back to Canada likely. I just want to grow my small intra-day accounts into something that we can ay the bills with.
Well done Captain, you should serve as an example for us all.
Just had a nice little 'pop' on GC just then!
CanOz
CanOz
Home runs feel good, but base hits pay bills!
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Interesting........will it be a woody or a waterfall?
CanOz
Home runs feel good, but base hits pay bills!
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Go with the gut feel and then do the opposite"..lol
One thing for sure is that when it happens outside of pit hours it moves quickly!
CanOz
One thing for sure is that when it happens outside of pit hours it moves quickly!
CanOz
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Looks like a woody then Good enough in this climate?
Good enough in this climate?Gold Back Above 50-Day Moving Average
July 23, 2013
http://www.bespokeinvest.com/thinkbig/2013/7/23/gold-back-above-50-day-moving-average.html
July 23, 2013
http://www.bespokeinvest.com/thinkbig/2013/7/23/gold-back-above-50-day-moving-average.html
>>> Who’s Been Buying Gold ? Russia And Turkey Increase Reserves And So, Probably, Does China
>>> 14 Feb 2014
Gold has been in the spotlight more than usual this week as the price breached US$1,300 an ounce for the first time since November of 2013.
Not a bad time then for the World Gold Council to put out its latest report on the official gold holdings of central banks.
The most dramatic figures came from Turkey. Turkey’s central bank added more than 160 tonnes of gold to reserves over 2013, including up to 33.1 tonnes in a single month.
The upper limit for gold reserves that might be held to maintain Turkish lira reserve requirements was raised from 25 per cent to 30 per cent.
Meanwhile, Russia reported a net accumulation of gold during the period as well. That was which was mostly due to purchases within the domestic market. Over the course of 2013, Russia added 77.4 tonnes to its reserves which already stand as the second largest in the world at 12,500 tonnes.
In fact, Russia’s gold production has been on the rise since 2009 when domestic production came in at 185 metric tonnes. Over the following three years production increased to 202 tonnes, 211 tonnes, and 226 tonnes respectively.
Based on available figures through September, 2013 production is estimated to have reached the highest level yet at 237 tonnes.
Russia is the fourth largest gold producer in the world, since overtaking South Africa in 2012, and pundits have predicted it may surpass the United States which currently holds the third position, but which is experiencing declining production in Nevada.
Elsewhere, western central banks continued to sell gold as part of the third Central Bank Gold Agreement (CBGA3) which covers the gold sales of the Eurosystem central banks, Sweden and Switzerland.
Similar to previous agreements, CBGA3 covers a five-year period, in this case from 27 September 2009 to 26 September 2014, and sets a ceiling on the amount of gold which can be sold. For this third agreement, the collective ceiling was reduced so that annual sales will not exceed 400 tonnes and total sales over this period will not exceed 2,000 tonnes.
While the ceiling was reduced from previous agreements, data from the World Gold Council indicates that the participating states continued significantly to undersell.
The largest number recorded during the agreement period has been 136.2 tonnes in the 2009/2010 period, but last year’s sales came in at only 5.1 tonnes.
During the current period, which began in September of 2013 and ends in September of this year, 3.5 tonnes have been sold so far by the CBGA countries.
What the Chinese are up to is less clear. China’s gold reserves are officially stated as 1,054 tonnes, but that number has not been updated since 2009, leaving industry watchers to analyze total inflow, production, and outflow themselves to get a general read on the Chinese central bank’s policies.
Rumors of massive purchases abound as many in the sector believe that the Chinese government is seeking to diversify its holdings out of US dollars. Officially, gold makes up less than one per cent of the country’s reserve holdings which is well below the 70 per cent stated by the United States.
It has been widely reported that China’s official 2013 gold figures indicate that domestic production and imports vastly outstrip domestic demand.
Given that a 500 tonne gap exists between those two figures, many in the sector point out that such a high level of demand from an unknown party must be the work of the central bank.
Source >> www.minesite.com
*****
>>> 14 Feb 2014
Gold has been in the spotlight more than usual this week as the price breached US$1,300 an ounce for the first time since November of 2013.
Not a bad time then for the World Gold Council to put out its latest report on the official gold holdings of central banks.
The most dramatic figures came from Turkey. Turkey’s central bank added more than 160 tonnes of gold to reserves over 2013, including up to 33.1 tonnes in a single month.
The upper limit for gold reserves that might be held to maintain Turkish lira reserve requirements was raised from 25 per cent to 30 per cent.
Meanwhile, Russia reported a net accumulation of gold during the period as well. That was which was mostly due to purchases within the domestic market. Over the course of 2013, Russia added 77.4 tonnes to its reserves which already stand as the second largest in the world at 12,500 tonnes.
In fact, Russia’s gold production has been on the rise since 2009 when domestic production came in at 185 metric tonnes. Over the following three years production increased to 202 tonnes, 211 tonnes, and 226 tonnes respectively.
Based on available figures through September, 2013 production is estimated to have reached the highest level yet at 237 tonnes.
Russia is the fourth largest gold producer in the world, since overtaking South Africa in 2012, and pundits have predicted it may surpass the United States which currently holds the third position, but which is experiencing declining production in Nevada.
Elsewhere, western central banks continued to sell gold as part of the third Central Bank Gold Agreement (CBGA3) which covers the gold sales of the Eurosystem central banks, Sweden and Switzerland.
Similar to previous agreements, CBGA3 covers a five-year period, in this case from 27 September 2009 to 26 September 2014, and sets a ceiling on the amount of gold which can be sold. For this third agreement, the collective ceiling was reduced so that annual sales will not exceed 400 tonnes and total sales over this period will not exceed 2,000 tonnes.
While the ceiling was reduced from previous agreements, data from the World Gold Council indicates that the participating states continued significantly to undersell.
The largest number recorded during the agreement period has been 136.2 tonnes in the 2009/2010 period, but last year’s sales came in at only 5.1 tonnes.
During the current period, which began in September of 2013 and ends in September of this year, 3.5 tonnes have been sold so far by the CBGA countries.
What the Chinese are up to is less clear. China’s gold reserves are officially stated as 1,054 tonnes, but that number has not been updated since 2009, leaving industry watchers to analyze total inflow, production, and outflow themselves to get a general read on the Chinese central bank’s policies.
Rumors of massive purchases abound as many in the sector believe that the Chinese government is seeking to diversify its holdings out of US dollars. Officially, gold makes up less than one per cent of the country’s reserve holdings which is well below the 70 per cent stated by the United States.
It has been widely reported that China’s official 2013 gold figures indicate that domestic production and imports vastly outstrip domestic demand.
Given that a 500 tonne gap exists between those two figures, many in the sector point out that such a high level of demand from an unknown party must be the work of the central bank.
Source >> www.minesite.com
*****
>>> Gold Above Its 200 DMA <<<
>>> Feb 14, 2014
Source >>> http://www.bespokeinvest.com/thinkbig/2014/2/14/gold-above-its-200-dma.html
*****
>>> Feb 14, 2014
Source >>> http://www.bespokeinvest.com/thinkbig/2014/2/14/gold-above-its-200-dma.html
*****
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Just a quick question. Where do you guys day trade?
Been day trading for 5 years through CMC and looking around
Been day trading for 5 years through CMC and looking around
Gold from the top price of 1392.716 till now was in a downtrend that Sellers were able to achieve the lowest price of 1268.477.As it is obvious in the picture below, price during the descending has touched the Support Level of 1277.658 and has created the hammer candlestick pattern. Formation of the lower long shadow(Hammer Pattern) in the last week candle shows the failure of Sellers in reaching to the lower prices. Closing of the bullish candle after this pattern will confirm it and warns about ascending of price.
Right now price is above 5-day moving Monthly and daily time frames that show an uptrend during the next candles.Currently the first warning for increasing of price is breaking of the resistance level of 1306.402. Stoch indicator in weekly time frames in saturation sell area and with the next cycle warns about ascending of price(also monthly) during the next candles. Generally until the bottom price of 1268.477 is preserved, price will have the potential for ascending and reformation.
Right now price is above 5-day moving Monthly and daily time frames that show an uptrend during the next candles.Currently the first warning for increasing of price is breaking of the resistance level of 1306.402. Stoch indicator in weekly time frames in saturation sell area and with the next cycle warns about ascending of price(also monthly) during the next candles. Generally until the bottom price of 1268.477 is preserved, price will have the potential for ascending and reformation.
