Monday, May 2, 2011

Dilema? - let's speak charts!

I'm home having my coffee again, follow and comment if you are interested.
NOTE: I am Not a professional trader and i am NOT giving out advice, i am an evil mastermind trying to make some money by trading online, to build a hideout on a volcanic island. And get followers to support me to build a Master Control room (look at earlier post).

Ok guys lets do this together (by this i mean to analyze the chart), if we pull this thing off we might make some money. so here are the charts from Kitco.com they came out today, i just pulled some yellow and blue vertical guide lines to make my point. Lets have a look see.
 
so here we have it the daily with the 21 day moving average, an the MACD (12-day EMA - 26-day EMA)
we see the blue line crossing over the red Bullish indicator so i pulled a yellow vertical and a blue vertical was my sell signal when the red one crosses over the blue line. I actually made this trade. the next yellow was my other buying signal and as you can see it worked pretty well so far. But i am not sure to wayt for another MACD sell signal we are pretty close to the "1600$ technical resistance" according to Jim Wyckoffs chart and i think we could bounce back and stay under 1600$ at least for a while. I think is should set a stop-loss at 1539$ and a take-profit at 1588$ but I'm not sure what to do.

Tell me what do you think?
Also tell me what would your dream job be?

16 comments:

  1. Man I wish I had some extra money to throw around in the market. I bet its a thrill when you pull your first big profit, and that plan you thought might work, did.

    I just want a job where I get lots of time off and I got time for hobbies. I think when people that "you should do what you love" like as a job. Whatever, nobody likes working. So I say work for the free time and do what you love with your free time.

    Great post, following now.

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  2. my dream job is doing nothing

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  3. I use kitcom too. My dream job would be to help other people in need, a humanitarian job of some sort.

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  4. Who doesn't want a control room deep in a volcano? I KNOW I DO.

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  5. good post man, no idea what to advise you since I'm not experienced in that area :P, as for my dream job - making profit while chillin' with my homies :D, also following, gotta support the evil mastermind

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  6. well my dream job is blowing up things..cant advice you in your post though, not familiar with that subject

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  7. But what if your evil plan is to pose as an expert trader on the subject of gold buying and selling?

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  8. I'm not very familiar with the trading business, but one thing i know for sure - to trade you ought to follow not only changes in trends, but also react and translate the news around the globe to the possibilities and probabilities of change in those charts. And that is where i am failing in logics and where a solid knowledge of economies and experience is needed.
    Good luck with that!

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  9. I tend to be a waiter when it comes to this stuff. I don't sell as often as I should though. By the way, I didn't realize you were the one in the video. I thought there were no girls on the internet!

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  10. The flaw is you are depending on crap you can't control.

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  11. @ Maquina don't we all ? btw i do try to manage my risk but

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  12. An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.

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  13. Those sure are some fancy graphs, mister!

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