Short-term traders exited long position on a RED Daily “Trade Triangle” @ $1,407.30 today and remain neutral for now. This short-term trade produced a Profit of $19.58 an ounce.
Intermediate and long-term traders hold long positions.
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Bernie and Konrad: WELCOME MATES—-You should be long coal, short precious metals, and long agriculture. Long the $USD, Short your dollar. you need to set up for use ETFS, to max. your profits. My puts are in the money. I M making more in silver, ZSL than gold. {DZZ} ” Thank you very much” for your support of my account balance! ELVIS P
I, am also from Australia and have been following this blog for a few years and this site is one of my top favourites due to the quality of the content and the regular market updates.
no weekly red in gld yet but we are so close i can smell it…my puts are heating up….the next weekly green i am going all in long…i’m thinking it will be in march when congress votes to raise the debt ceiling.
Finally the price of Gold has closed BELOW Ma50 and the Weekly trend is Down, We should see some Down Trend now.
Good luck to every one!
Hi Jeremy,
I am a non-member from down under and receive your lessons and advice regularly. In a real sense I do not invest in the stockmarket as such, however through my super annuation fund, I can direct them in which investment tiers I want them to place my money, eg, cash only, Adustralian shares, International shares etc etc. I can do that at a twice daily time frame, ie if I instruct the Fund to change the investment option it will be exe3cuted 24 hours later, or at close of business the next day.
Reading your blogs as well as listening to your videos, alerted me over Xmas to get out of the stock market and to go into Cash only. I am glad I did.
I don’t know anything about triangles, red or green, I use the MACD index which serves me well.
Again thank you for your informative info and I wish you a very happy new year.
Konrad
Konrad,
Happy New Year to you as well. Thank you for reading and contributing to our Trader’s Blog. Stay tuned for some exciting news about Australia and MarketClub very soon!
Cheers,
Jeremy
JohnZ: When I enter a trade its usually after the PSAR has appeared and I use it (and a few ticks) as my STOP. As the trade progresses I tighten. Otherwise, what are you comfortable losing? If you put on a tight STOP form entry chances are greater you get stopped out prematurely… IMHO.
Geeze, talk about short term whipsawing. This is litterally the third or forth time Gold has set off a buy and sell within 2 weeks. We must me coming to one of the shortter term tops. Watch out for a very quick 10% correction to $1250 then slow consolidation back up.
Why can’t triangle prices be used for personal portfolios like you do for portfolio tracker?
I got my 1st alert jan. 2nd with the hangman & yesterdays spinning top,I bought Newmont & Royal Gold put options sold today at over twice paid, sometimes you have to do the work yourself, it helps. Bitch at yourself not someone else. be a contrarian once in a while stay in front of the lemmings.
would you explain how trading stops are implemented is the following correct?
When calling my broker he informed me that I need to apply the stops by calling to buy or sell once they are reached. The alternative I am told is to use a professional service that would perform this function for me for a remitance.
Regards
David
Thanks for the clarification…post comment I figured out which/whose portfolio’s you were referring to.
Jeremy,
where would I find the “protective stops for the next day” in the Portfolio Tracker…..I am a member with a portfolio setup but am not sure where to find the protective stops information
Mike
Mike,
The Portfolio Tracker is located on your MarketClub Homepage under the MarketClub Updates section. But, keep in mind that we only provide this information for our three MarketClub Portfolio’s. We do not do it for each members personal portfolio.
Below are the three Portfolio’s that MarketClub offers this service for
http://bonus.ino.com/downloads/portfolios/worldcup_portfolio_member.pdf
http://bonus.ino.com/downloads/portfolios/perfect_r_portfolio_member.pdf
http://bonus.ino.com/downloads/portfolios/gsp_portfolio_member.pdf
Best,
Jeremy
Good entry point IMO for a long position.Gold is hard to trade because they’re always trying to run your stops.1372 is technical support.
PROTECTIVE STOPS!!!!!!!!!!!!!!
What time were daily trade triangles emailed as an Alert if set up as such….I only have weekly and monthly set up, so I wouldn’t have gotten the email, but curious just the same.
Jim,
The Gold Alert today was sent early this morning to members that had ‘Daily Trade Triangle” alerts set for their portfolios. I received my Gold Alert at 4:33 AM EST to inbox. Remember that members also have access to our Portfolio Tracker that gave you this exit point lastnight. Members can use this feature to set up their protective stops for the next day.
Best,
Jeremy
Jeremy Lutz
Head Technical Support
MarketClub and INO.com
Same with TNA – went from “buy on pull backs” to may go to plus 75 from plus 90…. the man’s voice was changed to the womans voice. Just happened after another drop over 3%
What exactly is a tight money management stop? 1% – 2% what.
JohnZ,
Thank you for your feedback.
You may be interested in this post that we have on money management stops.
Here’s the link that you need:http://club.ino.com/trading/2009/06/how-to-use-money-management-stops-effectively/
Every success in 2011.
Adam
Oh, Sure, NOW you post the signal to exit.
Too bad it’s an hour AFTER the price fell $30
Given the divergences in the MACD, RSI, and OBV over the three highs in November, December and January, and the fact that gold is now approx 35% over its 150wk m.a. i wonder aloud how soon we are likely to get weekly and monthly sell triangles.