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TFC Commodity Trading Forum

Re: SnP/Lee
In Response To: SnP/Trades ()

The SPX retraced a perfect Fib 61.8% of the Oct 4th to Oct 27th rally like I said Sunday. And being so oversold with such pessimism strongly suggested a rally of substance at that price point. So far so good. I was more focused on a Gold trade as the Gold group of trades are in an uptrend and the SPX is in a downtrend. Always best to trade with the trend rather than countertrend over time. With the big gaps up I didn't catch anything as I refuse to chase markets. Missing things isn't a big deal anymore than missing a fishing day. It is always there to be traded from one point to the next. I was expecting a little more of a pullback on the Gold trades and had planned on dumping a lot of money on it. That market tends to run up for 4-5 weeks at a time. Guess it knew I was waiting for it with baited breath. Still could pullback now and will re-assess if it does. Lots of ways to trade the Gold group. No motorcycle for me though. Just thought it was a good idea to take off for awhile with something warm and fuzzy,lol. I was also going to buy the Aussie dollar but it gaped up without me as well. Nothing pisses me off more than those xxxxxxx gaps. Throws my game plan right out the xxxxxxx window each time. I guess I shouldn't be so fussy on price. Plus I don't hold losing positions. I always strive for perfection but it is an impossible task to achieve. Good to see you trade the Euro. Everyone and his dog was short the Euro. Being long EC with such extremes was a good trade but DX hadn't quite reached its double top and that's what I was waiting for to get long Gold and the Aussie dollar. But Gold didn't double bottom as DX didn't double top. I'll have to wear a disguise next time so it doesn't see me waiting I guess.