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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8935
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
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DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 18, 2011 20:18
Book squaring in last 20 to 25 mins of session. I shall watch the adjusments to bid/ask delta and breadth behaviour to form an opinion.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 18, 2011 20:16
well in my book it lost its status for 8% true trend day. It could save the day by trending down hard into the cash close but I have my doubts now.
Qingyu
manchester, UK
Posts: 1763
13 years ago
Apr 18, 2011 20:07
i means stock market.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 18, 2011 19:52
you asking about risk aversion or specific ?
Qingyu
manchester, UK
Posts: 1763
13 years ago
Apr 18, 2011 19:30
guys, are we starting to head south, or temporary pull back?
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 18, 2011 18:34
One positive thing in your favour Bigbabe is yer not frightened to ask so you will learn quickly. Never be afraid to look ignorant, much quicker way to learn. This challenge should not be underestimated for the amount of reading and study time required. And here you are opting to tackle EWA first, a potential nightmare for many traders.
DaveO
UK
Posted Anonymously
13 years ago
Apr 18, 2011 18:26
Yep its important for experienced traders to give back and help others imho. I can assure you I have done my bit with 2x3 year courses over the last 6 years, all for free. An enormous commitment to do the mentor job properly. On call 24/7 and running an RT room.

If the reply is non commital I suggest you email again addressed to Miner. He might refer you to Carolyn Boroden but she is much shorter term trader than you might like and she doesn't teach EWA even though she studied under Miner. She teaches symmetry but I could refer you to someone better for that who also studied under Miner same time as me.

At the end of the day (ghastly expression) you have to do the work yourself. Do the reading and the vids etc etc. Then find a mentor. No one else can do the study for you, sure you realise that. EWI are very bad news in my book and I know most EW gurus.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 18, 2011 18:14
you are trading gold in new territory where we have no structure from the past to work with. taking fib extension projections are far less of an accurate science than having previous structure in place to provide key levels of potential support etc. And provide levels of high horizontal volume. Up here we have no horizontal volume whatsoever to guide us. The map is bereft of any information.
bigBaby
Singapore
Posted Anonymously
13 years ago
Apr 18, 2011 18:12
@dave, I did have a look at R Miner's website the other day and visited it again just now.

It appears that they have lots and lots of vids and courses but no human tutor or personal coaching at their end. I could be wrong but the latter's what I am really after, quite apart for some pointers for long term positioning.

(Pure vids in this regard smack of a lack of passion, when passion is what matters most with all great things in life).

Anyways I have sent them an email to clarify all that.

Thanks, I will follow up with them when they respond.

P.S: It's incumbent to impart the skills/knowledge that you have on to others. Greater merit and satisfaction there, I suppose, especially if you make a good teacher. Can see that you are already doing that in part in this forum. Great. Just wish I could understand all this tech stuff you talk about sometimes. Let alone that, I had to actually google to find out what "CL" means !
DaveO
UK
Posted Anonymously
13 years ago
Apr 18, 2011 18:06
yer gonna come horribly unstuck on yer whole number strategy sooner or later. If you were scalp trading like 10 to 20 pip trades the day pivots and whole numbers are relevant.

The point about that next fib # for gold is it is legitimate reversal level or reaction level and if mkt breaks the level then high probability it will continue on up. Its a level to be aware of and ideal for taking some off in a long position or getting the hell flat if price rejects.

If I were in your short trade I would not want to see a fresh high. That's how tight (mean) I work the mkts. Being generous means large losses when they occur.
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