Starting it off.

Al

rat,
I agree with you 100%. I will be more careful in my choice of words. Thanks and respect for the words of wisdom. Your work on gold is the best I have ever seen!

Good Trading,
Al Kamego

Originally posted by rat89

Al,
Hope is not a word that should enter your mind in connection with trading. Let the charts speak to you and remain agnostic. Trade setups that are so good they jump off the chart. Nem, like gld, is in a make or break area at 42. Nem has been the leader among the major miners, and the fact that it was weak today with aem and gg pushing to their target areas could be a massage. Or it could be a fake out.

Originally posted by albert

rat,

Cool work. I am watching NEM. I am hoping for an upmove. Hard for me to figure out!

Al :--)

Well, here I go again not being very careful in my choice of words! I meant no disrespect to Jim Kane, roofer, Tim Morge, Robert Miner, or any of the greats in the trading world.
I probably should have put my statement another way, like " Your work on gold is excellent, IMO, and among some of the the best I have ever seen!" OK Al, stop digging.
Al

Originally posted by albert

rat,
I agree with you 100%. I will be more careful in my choice of words. Thanks and respect for the words of wisdom. Your work on gold is the best I have ever seen!

Good Trading,
Al Kamego

Originally posted by rat89

Al,
Hope is not a word that should enter your mind in connection with trading. Let the charts speak to you and remain agnostic. Trade setups that are so good they jump off the chart. Nem, like gld, is in a make or break area at 42. Nem has been the leader among the major miners, and the fact that it was weak today with aem and gg pushing to their target areas could be a massage. Or it could be a fake out.

Originally posted by albert

rat,

Cool work. I am watching NEM. I am hoping for an upmove. Hard for me to figure out!

Al :--)

I am not using moving averages - just geometries like Fibs, median lines, trend and spike lines. What I have to admit though, that on one FX portal I am following many times areas presented there, derived from moving averages are pretty much the same as the ones indicated by geometries. As if no matter which tools one uses, provided they are meaningful, you will end up with the same result.

Originally posted by albert

Thank you Marcin. I hope I can develop a trading edge! Jim's very important 0.886 fibo is hard to beat. BTW, I am not showing any of my losers. I have quite a few of those, LOL. IMO, the 50-200 crossover - STO idea is fractal, and works on all timeframes that I have tried. One last thing, the STO OB/OS idea seems to be symmetrical, in that the STO OB or OS areas seem to show up both BEFORE and AFTER the 50X200 crossover. Thanks for your encouragement!

Good Trading,

Al

Originally posted by MarcinO

Wow, that's a very nice stuff you posted here, Al!
AEM looks particularly interesting from your approach standpoint.

I am not really sure if the Cable has already completed bearish correction. Me bet is it will get to 1.4300 before another leg down.

Marcin,
Thank you very much for checking that. I appreciate your effort. Your one statement, "What I have to admit though........ with the same result." got me thinking. I look at moving averages and STOs as following indicators, while - maybe I am wrong here - I look at Fibs, median lines, trend and spike lines (I forgot what a spike line is) - as somewhat leading indicators. Cool work. Thanks.

Good Trading,

Al Kamego

Originally posted by MarcinO

I am not using moving averages - just geometries like Fibs, median lines, trend and spike lines. What I have to admit though, that on one FX portal I am following many times areas presented there, derived from moving averages are pretty much the same as the ones indicated by geometries. As if no matter which tools one uses, provided they are meaningful, you will end up with the same result.

Originally posted by albert

Thank you Marcin. I hope I can develop a trading edge! Jim's very important 0.886 fibo is hard to beat. BTW, I am not showing any of my losers. I have quite a few of those, LOL. IMO, the 50-200 crossover - STO idea is fractal, and works on all timeframes that I have tried. One last thing, the STO OB/OS idea seems to be symmetrical, in that the STO OB or OS areas seem to show up both BEFORE and AFTER the 50X200 crossover. Thanks for your encouragement!

Good Trading,

Al

Originally posted by MarcinO

Wow, that's a very nice stuff you posted here, Al!
AEM looks particularly interesting from your approach standpoint.

Al, I didn't mean to make you self conscious about your choice of words. What I was getting at is that our choice of words often reflects how we feel, and the kind of trading we do requires us to always look both ways and ask what makes it more or less likely that price will go that way? The market doesn't know we're alive, so what we see or don't see changes nothing. Keeping an open mind and few firm opinions makes trading easier.

rat,

No offense taken. Cool. I enjoy all the comments and words of wisdom that come my way from traders that I respect, like you, Marcin, and Duane.

Good Trading,

Al Kamego

Originally posted by rat89

Al, I didn't mean to make you self conscious about your choice of words. What I was getting at is that our choice of words often reflects how we feel, and the kind of trading we do requires us to always look both ways and ask what makes it more or less likely that price will go that way? The market doesn't know we're alive, so what we see or don't see changes nothing. Keeping an open mind and few firm opinions makes trading easier.

nem 3....got one short today, going for another here....nem was the only miner going up this morning.....maybe it will fall apart? As jim would say.....

Very wise, rat. That is true that our words shape the perception of the world. Sometimes you need to find another name for the phenomenon you want to describe and it changes yoru attitude towards it. It has huge impact on trading results.

Originally posted by rat89

Al, I didn't mean to make you self conscious about your choice of words. What I was getting at is that our choice of words often reflects how we feel, and the kind of trading we do requires us to always look both ways and ask what makes it more or less likely that price will go that way? The market doesn't know we're alive, so what we see or don't see changes nothing. Keeping an open mind and few firm opinions makes trading easier.

Today was not a stellar paper trading day for me. I placed four option trades today and three of them expired worthlessly. I did manage to make a small profit in UAL. I broke my resolves to be patient and to enter trades at a price pullback. It cost me. Nice setup but poor execution. The pullback was to a 0.146 fibo.



Al