Thursday 1 December 2011

Cloudy days

1.42pm..
Cloudy days both in local weather and gold market.
Looking at the 30 mins chart, the prices went into the cloud area , based on Ichimoku cloud... again my belief was turned on.. I keep seeing downside to the gold price -having surged so high in the past 2 days. i hv yet got over the climb and truly believe it is going to fall anytime.

Entered a few trades with SL set at $7 losses... and that was hitted, orders repeated,..hit and so on.. It went on for several orders.. each time, I short it, I am stopped out. End result,.. my total week's gain is evaported before of my belief in the weakness in gold - the strength in USD.
Current cash balance 367 / net 367.

Switching the theory..if you cant beat them..join them.. I hv now set a limit buy for gold, SL set at $20/- Am giving it 2 hours to trigger that purchase, failing which, it will just expire.

I looks thru' all the pairs,..there isn't one that is idea to trade (so that means, I should not force any trade). On hindsight, when I went thru' the charts over the weekend,..80% of the pair shows high risk of breakout. I put in orders of 9 units each to test the breakout ,..and it showed me a perfect pip gain of 200-400 pips. I hv to stop rushing.. when 80% of the charts showed a possible breakout..I hv to ponder on what it means and how I can capitalise on it. Knowledge without action = time wasted in looking at those charts. I must think beyond what the charts represent. Still a long way to learn.. ... I need to sharpen my axe,.not just keep on, keeping on..chopping trees.

Each time I become poorer,.. I learn a lesson.. but when my accounts get inflated, so does my head. I need to remain humble - I can never win the market..

cash 367 , 0 order on hand

No comments:

Post a Comment