Trading the gold price from the Great Southern Land

As a gold trader living in Noosa I've tried many strategies to cope with the time difference between us and the US. When first going live in Jan 2015 I was trading the hourly then 4hrly chart. From memory volumes were much higher and my lot sizes were certainly higher which meant profit was impressive. From $6K to $50k in two weeks. But I was trading all hours and of course the burnout kicks in fast. You can't trade the gold chart like a zombie for one many reason. Manipulation. The price can whiplash like a bitch on the hourly. Losing lots of money isn't fun. I tried alarms, broken sleep and sleeping during the day. But longterm these were never going to work. I'm one of those people that need good sleep and sunshine. And the object of trading is to create a better life - not worse.

One of the main reasons I have continued as a trader was the decision to never give up after losses and strategy failure. The other reason was to constantly study the chart. Understand its' structure and character. And understand the manipulation by the banks and The Fed. There were 12 weeks in 2016 when we should have crossed over the long term bear trendline with poor data releases under Obama. Both the Brexit and Trump election days were clear examples of "involvement" by the Fed with plunge protection of the USD.

So the more you examine the price action the quicker you reach the conclusion that the best strategy is to remove the noise and trade long. Because trading any other chart than the weekly increases your error rate. Certainly profit can be made but not sustainably over the longterm. And this is mainly due to time difference. Who wants to spend the night trading the higher volumes and news and then sleep the day? Not anyone that enjoys sanity and sunlight to function.

A quicklook at the gold chart shows that the price trends weekly usually on a fib retracement structure, constrained by the bear trendline and daily on a fib fan. At the moment we are in week 9 of a fib fan with support on the ma's. So if anyone wants to trade gold, which in my opinion is the best pair for volume and price action I hope this helps you. There have been many financial experts over the past few years say that gold will go to $4500 - $10,000. Personally I don't really care what the price is - providing I'm in the trend and see a trend change.

PS. Once the price closes outside the bear trendline this will attract the volume of the US mutual funds which will change the whole nature of the market through higher volumes but I digress.

rogblack said:

usually on a fib retracement structure, constrained by the bear trendline and daily on a fib fan.

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These fib retracement structures that POG conforms to and the constraints of Bear Trendlines and Daily fib fans.
Do you honestly believe that Humans and or bots actually rely on these as a trading tool.
That your placement on a chart isn't a classic example of being fooled by randomness.

I can draw any number of lines and indicators on a chart in hindsight and show you amazing un canny genius in their use.
Then plotting forward for profitable benefit soon exposes the futility of hindsight analysis.

Similar to the stories of miracle cures with herbal remedies and then the loss of someone like Steve Jobs brings
home the reality!

Trading --any trading is the buying and or selling of a commodity for profit.
Few do it consistently over the long term as you know.
You need something else to supplement income.
That's what your doing.

Sometimes you surprise me beyond any expectation, Mr Duck! (at my age and weary wisdom, any positive surprises are gratefully accepted!)

the above post was written for newbies to gold forex. The insight of an experienced trader could save you a lot of money in losses.

rogblack said:

The insight of an experienced trader could save you a lot of money in losses

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From what I've seen you should search one out!

tech/a said:

From what I've seen you should search one out!

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Hmmm...

A bit harsh after readings Joe's comments on the subject.

My comment had no judgement.

Haven't seen this?

Skate said:

Hmmm...

A bit harsh after readings Joe's comments on the subject.

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tech/a said:

Haven't seen this?

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Joe's comments on the 2nd August 2017
"I will also say this. I think that the biggest problem at ASF is that some - a small minority - have a real intolerance for other people's views and people they don't like generally. This often results in conflict that has its origins in personal slights and subtle digs that get blown up unnecessarily"

Joe's comments on the 5th August 2017
"the key to maintaining a civil and constructive atmosphere"

It's interesting to read the views of others - whether I agree or disagree is irrelevant.

Making a snide remark or having a subtle dig sometimes comes over as rude and mocking.

If members perceives the comment to be offensive they will stop posting and that's the last thing we want.

Skate said:

Making a snide remark or having a subtle dig sometimes comes over as rude and mocking.

If members perceives the comment to be offensive they will stop posting and that's the last thing we want.

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Skate that was exactly the point and I wholeheartedly endorse it. The less of these members we see the better.

Skate said:

Joe's comments on the 2nd August 2017
"I will also say this. I think that the biggest problem at ASF is that some - a small minority - have a real intolerance for other people's views and people they don't like generally. This often results in conflict that has its origins in personal slights and subtle digs that get blown up unnecessarily"

Joe's comments on the 5th August 2017
"the key to maintaining a civil and constructive atmosphere"

It's interesting to read the views of others - whether I agree or disagree is irrelevant.

Making a snide remark or having a subtle dig sometimes comes over as rude and mocking.

If members perceives the comment to be offensive they will stop posting and that's the last thing we want.

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Yes! These are certainly important sentiments to consider.

Out of interest, did you happen to read through all of rog' posts from recent days?

I suspect that the normally unwanted outcome, just might potentially be wanted on this occasion.

Having said that, the contributions of certain educators, spruiking their wares, has certainly provided some entertainment value to this forum in years gone by.

Whilst I tend to agree with most of the above (Joe's comments) I think this is slightly different.

This guy i.m.o (and many others) is an outright scammer. Tells the sob story about people being down on their luck, no money and living in cars and then wants to charge them mega bucks to teach them how to trade. Most experienced traders on here know exactly what he is trying to do.

Skate

Can you point out the value this guy has added to the forum?
He has been given the opportunity.
But continues to push his own agenda

Porper said:

Whilst I tend to agree with most of the above (Joe's comments) I think this is slightly different.

This guy i.m.o (and many others) is an outright scammer. Tells the sob story about people being down on their luck, no money and living in cars and then wants to charge them mega bucks to teach them how to trade. Most experienced traders on here know exactly what he is trying to do.

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Ok. I've been in this forum for a little more than 24 hours. The reaction and response to my experience in forex is akin to what the bullies do in a school yard. It's childish. Really childish. I've made claims and then backed them up. Which have been ignored. That's a pity. Because in a civilised and educated society we can all learn from the experience of others. I'm not going to respond to the group mentality that is present here but this post. Firstly I am not a scammer, whatever that is (convenient online anonomous poster from Nigeria). I use my real image and have told my story. In response I get some Antifa style paranoia. What is this? There are thousands in this world who need a genuine solution to trading forex. The gut wrenching experience of losing money when you know you could have made a profit is what I'd like to help people avoid. You claim I'm using a sob story? What glasshouse do you live in? Are you protected from financial and personal loss or just trying to be one of the boys? YouTube has many examples of people in US living in vehicles after the financial crash of 2008. Trade and professional people live in vans and tents in the US. A sob story? Maybe not but western society can do better.

You've said I charge megabucks while another poster said my rates were cheap. Maybe a concerted effort to discredit someone is needed. You know, like an old school gang from the 80's behind the shelter shed. For the record I charge a one off fee of $1250 to teach someone what I have spent money learning over four years. That's one off. You think that's megabucks? So I train 50 people a year I make $50k. Seems reasonable to me. An Arts degree would cost 50k and make you less. A scammer you say? I have a website. I'm on YouTube. Patreon and Skype. Maybe you would you like my dental records and my childs' school attendance. Wow. Am I living in a free speech country? I thought I was.

rogblack said:

Ok. I've been in this forum for a little more than 24 hours. The reaction and response to my experience in forex is akin to what the bullies do in a school yard. It's childish. Really childish.

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Sorry to disappoint you, but the responses to your pumping of your scam have been anything but childish or bullying. I have little doubt you will shortly be banned. You have contributed nothing positive and not backed up absolutely outlandish claims of returns that would make you the best trader in the world bar none.

I think members have been very kind considering the snake oil you are selling.

Free speech is not a right in Australia under our law, but even if it were, its unlikely it would allow you to say anything you like without being challenged on your spam.

Joe's posts that were quoted have no relevance that I can see in this case.

Bograck, ummmm rogbrack.....easy way to quell the pessimists....post broker statements....std procedure here...backtest reports of your theories might help as well....until then, it's been nice seein ya around!

Cheers and godspeed!

CanOz

So you're a cynic who won't test my claim yourself. That's OK. Cool Bananas

Its up to YOU to prove your claims...not me mate. As i said, if you want to enjoy your continued freedom on ASF then post a broker statement (or send to Joe), or show some stats of your strategies. I don't think thats asking too much of a "profitable" trader, is it?

and yet you keep posting lol

rogblack said:

and yet you keep posting lol

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I've done BOTH, i've sent broker statements to Joe and i've posted stats on hypothetical trade strats and stats on live accounts....

Time to PUP or SUP!

Do you need the translation for that?