Gold $2000 by 2012 June - Commodities Futures Trading | futures io social day trading
futures io futures trading


Gold $2000 by 2012 June
Updated: Views / Replies:4,884 / 27
Created: by jonc Attachments:8

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 8  
 
Thread Tools Search this Thread
 

Gold $2000 by 2012 June

  #1 (permalink)
Elite Member
australia
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: -
 
Posts: 300 since Sep 2010
Thanks: 123 given, 137 received

Gold $2000 by 2012 June

Do you see gold hitting $2000 by 2012 June or would it be a repeat of 2008 where gold corrected about 30% from its peak together with a stock market crash?

Last night ECB's Draghi squashed the idea of large bond purchases by the ECB for now and gold was sold off just when I thought it is about break on the upside of it's coiling pattern


Last edited by jonc; December 9th, 2011 at 02:08 AM.
Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Montreal, Canada
 
Futures Experience: Beginner
Platform: NinjaTrader, Multicharts
Favorite Futures: ES
 
Posts: 96 since Dec 2011
Thanks: 46 given, 84 received


Here's a recent comment from Jesse @ jessescrossroadscafe[dot]blogspot[dot]com


Jesse
1. The Central Banks were net sellers of gold for over twenty years. One can debate their motivations, but it did appear to be a coordinated effort to suppress the price, exemplified perhaps by the clumsy sale of the Bank of England's gold at what has become known as Brown's Bottom. The Banks have now become net buyers of gold, led by the BRICs and popular movements by individuals to safeguard their wealth from the changes in the fiat money systems.

2. The US Dollar Reserve currency regime, also known as 'Bretton Woods II,' is changing. What exactly it is changing into cannot yet be seen with certainty, but it does appear likely that it will be a basket of currencies and gold, and perhaps silver. The Anglo-American banking cartel is fighting this change, as it affects the basis of their power. They are seeking to control it and the evolving nature of the global money supply.

This second quote refers to the MF Global bankruptcy. They were able to use a loophole by including a clause in their customer agreement to hypothecate and rehypothecate money from their clients' accounts. The problem is that many banks and I'm pretty sure that all futures brokers also include this clause in their customer agreement. This leaves everything to whether or not the managers of these institutions will use that loophole. A risky proposition in my opinion.


Jim Sinclair
Gold is cheap relative to the idea that you could have a life’s fortune on a statement from a clearing agent and then find out that you don’t have a penny left anywhere. Which should you have had, physical gold or that clearing house statement? Gold is cheap because of the condition of other things.

I hate putting a price on something because I'm simply not good at that. But I'm pretty convinced that gold will go up from current levels simply because everything else is deteriorating, and that is why I believe it is a reasonable wealth preservation unit.

There's also the question of liquidity in all this. With reports of mutual funds running at record low levels of liquidity, they might have been in this bear raid, waiting for a top to liquidate their gold holdings. The drop occured when the ES was topping. Selling into buying momentum is what the pros do.

If you want to talk about the pullback in 2008, well the thing is, it still got a good performance afterwards. If you're wondering whether or not to trade gold, then I would advise being nimble. These are volatile times and the last thing you want is to be, is to be married to the losing trend.


Last edited by JustinIsHere; December 9th, 2011 at 02:23 AM.
Reply With Quote
The following user says Thank You to JustinIsHere for this post:
 
  #4 (permalink)
Elite Member
australia
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: -
 
Posts: 300 since Sep 2010
Thanks: 123 given, 137 received

We should a big move either to the down or up side soon as it breakout of the tightening channel

Attached Thumbnails
Gold 00 by 2012 June-gc-12-11-240-min-09_12_11.jpg  
Reply With Quote
 
  #5 (permalink)
Elite Member
Montreal, Canada
 
Futures Experience: Beginner
Platform: NinjaTrader, Multicharts
Favorite Futures: ES
 
Posts: 96 since Dec 2011
Thanks: 46 given, 84 received

When trading, I think wealth preservation is the most important thing. Hence, I don't recommend trading when uncertainty is too high. The trend is your friend, if you don't see him, just don't jump in and expect him to be there.

He doesn't know what you want nor what you think.

Reply With Quote
The following user says Thank You to JustinIsHere for this post:
 
  #6 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,355 given, 83,237 received


j4W4a7V7 View Post
When trading, I think wealth preservation is the most important thing.

Unfortunately, most retail traders don't approach trading with preservation of anything in mind. They approach it looking to accumulate or generate wealth, and the only consideration is "how much can I make" --- with zero consideration for "how much can I lose".

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #7 (permalink)
Elite Member
australia
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: -
 
Posts: 300 since Sep 2010
Thanks: 123 given, 137 received


j4W4a7V7 View Post
When trading, I think wealth preservation is the most important thing. Hence, I don't recommend trading when uncertainty is too high. The trend is your friend, if you don't see him, just don't jump in and expect him to be there.

He doesn't know what you want nor what you think.

When I started trading, almost every books I read advocate trading with the trend and legendary traders who make it big were those who ride the trend.

There are those who can trades well with the trend but I eventually come to realize I don't day-trade well with trend, I do suspect its because the market had evolved - trading with the trend had become too obvious and indoctrinated into the masses such that it can be exploited - especially in today's market which are dominated by trading bots.

Instead day-trading S/R levels and MAs had been much more effective for myself.

Reply With Quote
The following 2 users say Thank You to jonc for this post:
 
  #8 (permalink)
Elite Member
australia
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: -
 
Posts: 300 since Sep 2010
Thanks: 123 given, 137 received

Anyone shorted when gold broke out of the triangle? That would be a text book and excellent trade.

After seeing gold's demise these few days, it had been concluded

Death of Gold Bull Market Seen by Gartman - Bloomberg


we will not see gold $2000 anymore .....

The Gold Bull Market Is Over - Seeking Alpha

"... except for the odd difference"



Last edited by jonc; December 15th, 2011 at 07:37 AM.
Reply With Quote
 
  #9 (permalink)
Trading for Fun
Singapore
 
Futures Experience: Master
Platform: Ninjatrader
Favorite Futures: ES,Currency
 
Posts: 159 since Nov 2011
Thanks: 2 given, 49 received

Fall of gold

i did some analysis on gold and i posted some charts which you can read here

https://futures.io/trading-journals/15320-price-forecasting-chaos-9.html#post175788

https://futures.io/trading-journals/15320-price-forecasting-chaos-9.html#post175803

https://futures.io/trading-journals/15320-price-forecasting-chaos-9.html#post175955

to conclude : thoughts on the fundamentals of euro, IMHO to solve the euro zone problem, the countries have to do the following : 1) devalue euro 2) sell their gold reserves. So it will not be a good idea now to buy both.

Reply With Quote
 
  #10 (permalink)
Elite Member
australia
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: -
 
Posts: 300 since Sep 2010
Thanks: 123 given, 137 received



ecmf View Post
i did some analysis on gold and i posted some charts which you can read here

https://futures.io/trading-journals/15320-price-forecasting-chaos-9.html#post175788

https://futures.io/trading-journals/15320-price-forecasting-chaos-9.html#post175803

https://futures.io/trading-journals/15320-price-forecasting-chaos-9.html#post175955

to conclude : thoughts on the fundamentals of euro, IMHO to solve the euro zone problem, the countries have to do the following : 1) devalue euro 2) sell their gold reserves. So it will not be a good idea now to buy both.

For now, I'm of the view this fall in gold present a great opportunity to buy for long term - 2 years. But it is definitely possible for gold to fall even to 1200 before the next leg up - bigger than what we witnessed this year

Reply With Quote

Reply



futures io > > > > Gold $2000 by 2012 June

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
TF thread (Russell 2000) ... anything goes kbit Emini Index Futures Trading 1095 August 18th, 2017 10:13 AM
Tick Data (TF, Russell 2000) momop540 The Elite Circle 29 May 13th, 2014 06:46 PM
Banks Have Gone Bust For Over 2000 Years, Yet The Sun Has Risen Everyday Since Quick Summary News and Current Events 0 November 23rd, 2011 11:30 AM
BruteForce-Mini Russel 2000 Zoethecus Trading Journals 17 July 14th, 2010 01:17 PM


All times are GMT -4. The time now is 09:23 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-17 in 0.14 seconds with 20 queries on phoenix via your IP 54.226.34.209