Tradefair & Financials
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28 Dec 10
17:11
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Date Joined:
31 Aug 07
China raised interest rates, last time they did this gold dropped 50 dollars also the dollar is up today against the euro/gbp, but despite all this gold has risen 20 dollars+, a very bullish sign imo.
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Replies: 85
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gold is a traders dream atm. Seems to keep hitting higher highs before retracing to a support level at its 50 day moving average. Been doing this since october. 1440 by early 2011 np.
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I'm very bullish on gold and silver. I find it hard to see how someone could be bearish if they do the proper research!
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totally agree whippet.Gold has been in a very predictable range for a few months now.I'm looking for a place to short it after last nights huge rally.Especially if it goes up today and tommorrow.
If you like trading ranges and moving averages take a look at the AUD charts.Last night it has a semi parabolic move to the prior high of 1.01.50 then started moving down.I shorted at 1.0144 and 1.0139. This morning its trading at 1.0090. It really struggles above parity and I'm looking at it going back into the 99's and maybe the 98's in january. Had set my stops at 1.01.62 but will move them down this morning to 1.01.19. AUd has an upside bias but the range has been predictable, very simi;lar to the gold scenario. Good luck and trade hard. |
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Yes, Mr Bean, we get it. Tomorrow will rain unless it doesn't.
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yeh I just saw that ben. The top seems to be somewhere around the 1.020 mark. I've just shorted at 1.017 anyway. I'm prepared to let it go to 1.021 before cutting a small loss. Definitely a value trade though, as if it moves towards anywhere sub 0.98 as expected, I'm looking at a decent sized profit.
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yes whippet,a fall like that would be nice.AUD hanging tough atm.You did better than me, i'm short at 101.66.Look forward to the new year.
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1.0184 as I type this:
http://www.forexrate.co.uk/charts/audusd.php I hope you had tight stops  |
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Do you actually read any of the sh1te you post? All you seem to do Menelaus is critise other people's decision making without ever offering any of your own opinions.
I'm not exactly sure why you are gloating here tbh. I have called the top at somewhere around 1.02, and am going to trade accordingly. On Dec 30th at 1am it hit the top at 1.0197, before heading straight the other way, to a low of 1.0118. I notice that you were nowhere to be seen at this point, but instead waited till inevitably the price moved the other way a little bit, before making your snide comments. I think both of us have stated that our position is that the price will be 0.98 within 1-2 months, and are thus going to trade according to that. Yet here you are, making snide comments only 2 days in? This just shows what a snide little khunt you are. |
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I agree thats not good sport, you made a good call there Whippet, the dollar index to break below 70 this year? I think it could, I think the AUD could go higher than 1.02 as people get used to the USD being a dog. I'm interested in the Canadian Dollar and what that might do, considering Canada is in a stable decent condition I think the CAD is undervalued.
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Whippet, my post was not directed at you but rather at Mr Bean who never admits to being on the wrong side of the trade. 1.0228 as I type this but that's neither here or rather. If you shorted at 1.0166 you just had your head handed to you on a platter.
pierre, Canada is neither in a strong or stable position and their "model" strong banking system is a myth. Have a look at who 3 of the international banks who received FED liquidity during the Lehman crisis were. Canada's economy is currently pillared on two things: housing & commodities demand by China. The first has reached bubble proportions and is now showing signs of popping and if China continues to tighten looking for a huge credit expansion soft landing, look for a huge (25pc range) commodities correction. Both of these factors make the CAD a strong short in 2011 in my opinion. |
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Its all relative, so you saying Canada is in a less stable position than Europe and US? or Japan who's whole economy is based on exports? I've bet on the Canadian vs Swiss Franc today, to me the AUD is more a commodity currency than the CAD and I have this theory that Americans will start buying CAD as their USD turns into worthless paper.
So tell me what which currency would you put against the CAD? we'll look in a few months and see how it pans out. |
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USD
It is still the tallest midget in the room by virtue of it's status as the world's reserve currency backed by the 700 US army bases around the planet. Lot's of reasons to bet against the CAD, two of which I already mentioned. Here's another one: 25,000 jobs vanish in the Canadian economy for every 100bps increase in the USD/CDN cross (70pc of their exports go the the US market). If the CAD drifts any higher than this point (parity), the Bank of Canada will intervene. Yes, they too can print, just like everyone else these days. Good luck whichever way you decide to play it. |
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Pierre what about silver? As the dollar becomes worthless paper why would they go for another paper currency? I know that the past would suggest going for another paper currency and the dollar was used by Argentines and Zimbabweans during their inflation but the global awakening regarding the globalist bankers and fiat currencies would play a part IMO, especially in America where I believe people would look to the constitution which states:
"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts" Now I know we have come a long way since then but all paper currencies eventually end the same way. I expect a mass awakening to the paper scam and when that happens people will trade their paper at any price for something real. I prefer silver over gold for the simple reason of price. Gold would soon become far too expensive for the average person. Another reason for silver is the industrial demand. I know certain posters see that as a negative but silver is the literal term for money in fourteen different languages and industrial demand increasing just increases the rarity of silver! It's a positive IMO. |
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Whippet
Do you actually read any of the sh1te you post? All you seem to do Menelaus is critise other people's decision making without ever offering any of your own opinions. Hi whippet,well said, well said. Happy days this morning!!  Logged back onto this thread again now that the markets are back trading. Got a good laugh.After reading the above post I looked at mellys.Didnt bother opening the chart as I knew already it showed the dec 31 close. This imbecile melly has exposed himself for the total fraud that he is. Everyone, and I mean EVERYONE who is involved in financial markets in even a semi serious way KNOWS about end of quarter window dressing.EVERYONE knows this is exacerbated by end of year window dressing. EVERYONE EXCEPT MELLY it seems.What a total fraud this guy is.He actually believed in the year end close of markets. Not only did he make, but he atually POSTED to make fun at the AUD close dec 31 2010.As I write this the AUD is 101.34, down 100pips from the window dressing close.Whippet is about 35 pips in the money and I am about 30 pips in the money. WHERE IS MELANUS NOW???????????????????????????????????????????????????????????????????????????? The only time he actually posted with figures involved rather than generalities, he is horribly exposed. Now if he posted figures all the time I wouldnt say anything, but since this is the only time he has slipped and refferred to real life figures I cannot let it pass. I have known this guy is a chest thumping fraud for some time.Now confirmed. Heres hoping this complete dunce leaves the forum with his tail between his legs with embarrassment. I fear not however, his low self esteem wont let him leave without a monumental insulting post to all concerned as his finale. To any contributors who took the slightest notice of this financial midget this is your "burn notice". Following on whippet- I'm going to move my stops down to 101.64 now.If it drops below 101 I will double my position.This could be a great start to the trading year.  All the best. |
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now trading 101.08.
position increased by 50% at 101.13. Average now 101.48 stops moved down to 101.38 |
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omg!!!!
pity your sleeping through this whippet, this trade is developing into a wet dream[;)] its down to 100.85 now.Your gonna be sooooo happy when you wake up.Enjoy stops moved down to 1.01.12 |
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Why is it always that ignorance shouts the loudest on here.
The average FX position is held for..........[b]30 seconds[/b]. But Mr Bean holds on for days until the trade turns !!!!!! Mr Bean, you are either a big fraud or totally ignorant or you have never traded currencies in your life. I vote for all three. (p.s: if EVERYONE, and I mean EVERYONE, knew that "end of year window dressing was coming", why didn't you wait to make your trade and maximize profits?. Your posts are not only intellectually dishonest, they are a complete farce.) |
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Why is it always that ignorance shouts the loudest on here.
The average FX position is held for..........30 seconds. But Mr Bean holds on for days until the trade turns !!!!!! Mr Bean, you are either a big fraud or totally ignorant or you have never traded currencies in your life. I vote for all three. (p.s: if EVERYONE, and I mean EVERYONE, knew that "end of year window dressing was coming", why didn't you wait to make your trade and maximize profits?. Your posts are not only intellectually dishonest, they are a complete farce.) |
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melly- you are worse than pathetic.Your totally exposed.Man up and admit you collect shopping
trolleys for a living.Theres no shame in it. What there is shame in is beating your chest and ridiculing all and sundry when in fact it is you who are clueless."The average FX position is held for..........30 seconds. But Mr Bean holds on for days until the trade turns !!!!!!" Where did you get that one from? Did you see it on the side of a bus? Do us all a favour and get off the forum.Your using up valuable bandwidth. |
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really embarassing yourselves now chaps [;)]
time to turn it in i reckon |
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Menelaus
Date Joined: 03 Feb 05 Add contact | Send message 31 Dec 10 08:15 1.0184 as I type this: http://www.forexrate.co.uk/charts/audusd.php I hope you had tight stops 1.00880 as I type this. Hope you enjoy your sour grapes Yeh it was a bit of a pity I slept through it ben. Anyway a nice surprise when I woke up. Lots of profit plus menelaus getting ridiculed on the forum. Beautiful. I think gold looks like it has just took the turn as well. Although I'm not entirely convinced, as it didn't manage to take out a higher high this time. Anyway I have now sold my position, and gone short, at 1417.3. I will be looking to buy back in at around 1385. Another one to add to the list is silver, which has a very similar trading pattern to gold. I have gone short on that at 31.15, and will again look to buy in sub $30. Good luck and happy trading. |
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Menelaus
Date Joined: 03 Feb 05 Add contact | Send message 04 Jan 11 09:17 Why is it always that ignorance shouts the loudest on here. The average FX position is held for..........[b]30 seconds. But Mr Bean holds on for days until the trade turns !!!!!! Mr Bean, you are either a big fraud or totally ignorant or you have never traded currencies in your life. I vote for all three.[/b] What a completely ignorant statement. Are you seriously suggesting that you can't be profitable at trading unless you use high-frequency strategies? Here's another 'fact' for you. The average person loses money on the markets. Why would I want to follow the "average", losing person's strategy, when I can find something that works for me, profitably, and follow that. Perhaps if you spent less time slagging off other's positions on here, you would be able to think up a decent strategy for yourself. Until then you will just remain a bitter and twisted man who is jealous of anyone doing better than you. |
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"the average FX position is held for..........30 seconds"
Mr Bean shows his stupendous ignorance ONCE AGAIN by saying: "Where did you get that one from? Did you see it on the side of a bus?" Mr Bean doesn't know this FACT but he's on here spouting advice about the markets ?!?!? That's rich........... Whippet asks: "Are you seriously suggesting that you can't be profitable at trading unless you use high-frequency strategies?" The answer is YES but I'll give you credit that you even knowing what high-frequency trading is as opposed to Mr Bean who obviously has no clue. |
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George Soros obviously begs to differ. I can just imagine him sitting there now, trading the 1 minute charts.
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Give someone enough rope and they'll eventually hang themselves.
So you know, George Soros has a controlling interest in one of the most successful HFT outfits. But I suppose a rank amateur like you probably posted that comment in reference to George Soros's legendary "take-down" of the BoE. I hate to be the one to ruin your image of your heros but Soros was only the front man. Stanley Druckenmiller was the brains behind the whole operation. I laugh when posters on here like you bask in glory when they post AFTER THE FACT that they made this and that profitable move in the markets. You must have a direct line with God (the AUS floods are the only reason your FX trade reversed) or a direct line with Blythe Masters when you are able to short both Gold and Silver right at the top of the day JUST BEFORE a major take down. And finally, when I trade currencies I don't even dare go to the toilet for 5 minutes with open positions but you chaps, leave them open overnight while you sleep, over weekends, holidays, multiple days, etc. If you are indeed posting fact and not fiction on here (I know Mr Bean is all fiction - I remember him posting some trades that were impossible to execute last year), you will get hurt. I thought I would warn you. |
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I laugh when posters on here like you bask in glory when they post AFTER THE FACT that they made this and that profitable move in the markets.
As opposed to you, the person who gloats when one of our trade doesn't go the right way, but then is suddenly nowhere to be seen when inevitably the trades come good? PS, how can you call this aftertiming? Whippet Date Joined: 01 Oct 07 Add contact | Send message 04 Jan 11 13:00 Another one to add to the list is silver, which has a very similar trading pattern to gold. I have gone short on that at 31.15, and will again look to buy in sub $30. When I wrote that, silver was at $30.76. It is now trading at $30.06. Even if you don't believe that I shorted at $31.15, I have still made money. Whippet 1 - Menelaus 0 |
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or how about this one, also posted on the forum.
Whippet 24 Oct 10 13:00 Illumina is my big tip. Price when tipped on the forum - $50. Current Price $65. $100+ within a year is my target (feel free to jot this url in your records, for bump gloating at a later date) That is a 30% increase in just over 2 months. Never mind the fact that I have been buying this share for ages now, not that you will believe me, but I don't care. Please, if you think I'm a mug, find evidence of a bad tip I have made on this forum. You might think I am lucky, but the number of good trades I make suggests otherwise. 2-0 |
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or how about this one?
Whippet Date Joined: 01 Oct 07 Add contact | Send message 24 Oct 10 16:17 also hecla mining Price then - $6.9. Price now $10.70 3-0 |
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What about all the ones that went sour Whippet?
It sounds like you are a "buy and hold'em" chap. I wish you luck. (p.s: yes, I still think you are a clueless mug) |
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get a room u two
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When it comes to gold and silver buying and holding is a sound and relatively risk free strategy. It'll likely be a few years yet before they peak.
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Totally agree Live4 re:hold gold AS LONG AS it is physical and not the paper ETF type.
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what will cause gold/silver prices to peak live4?
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Sir Denis, I don't know what you agenda is but why do you keep asking questions on this form that you ALREADY know the answer to. I've seen enough of your posts on here to know that you are one of a handful of posters on here who "get-it", so I don't understand your approach.
Please enlightened me. And please, don't respond with another "and I thought I was clueless" comment, it makes you look totally disingenuous. |
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erm...u've lost me sorry
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never mind
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.....and here's the answer to your question:
an end to fiat debasement (which won't happen under the existing monetary system) so Live4 is spot on, long way to go yet |
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Hi Whippet,
Yeh it was a bit of a pity I slept through it ben. Anyway a nice surprise when I woke up. Lots of profit plus menelaus getting ridiculed on the forum. Beautiful. ohhh its such a beautiful day!! AUD down to 100.50 as I write this. I woke up late this morning and after checking the prices the prices I had an involuntary climax!!!!!!! Not only that but the thought of melly getting more and more infuriated with every pip drop was a most satisfying image.Any credibility this financially challenged dropkick had left has now evaporated. The financial midget of the year award for 2011 is already over, melly just won it hands down!!!!! I think gold looks like it has just took the turn as well. Although I'm not entirely convinced, as it didn't manage to take out a higher high this time. Anyway I have now sold my position, and gone short, at 1417.3. I will be looking to buy back in at around 1385. your a smart guy whippet!! I also shorted gold at 1414.12 but for a lousy 3 contracts  I was just too focused on the AUD.you must be positivly beaming after the session last night, gold is now 1380/1 as I write this. these markets are just a dream for our style of trading.  Another one to add to the list is silver, which has a very similar trading pattern to gold. I have gone short on that at 31.15, and will again look to buy in sub $30. beautiful!!! I dont trade silver but I'll take a look at it since you have said its similar to gold.Thanks for that. What a phenomenal start to 2011 Best of luck and trade hard! |
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"Anyway a nice surprise when I woke up."
If this doesn't make you laugh, nothing posted on this forum EVER will. Thanks for the comic relief, Mr Bean, I can always count on you to deliver. (p.s: you're not posting enough 's, more would work better working the audience in a laughing frenzy)(p.p.s: what exactly is your "style of trading", posting rubbish, show epic ignorance and then sleep through an imaginary trade???? Good style, I commend you.) |