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Patuca

Market Wizard
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Posts posted by Patuca

  1. Posted

    Hi Sun Trader

    Do you believe in fibs?

    regards

    bobc

    Capt Bob he doesn't believe in my fibs ....apparently..LOL

     

    Where you been? Mitsubishi has fled the chicken coop...i guess he got tired of it all.....?

     

    I'm hanging there...at the moment in ky....land between the lakes..near Paducah...

  2. Posted

    Oh yeah. Whole lotta shaking going on - Jerry Lee Lewis

     

    Shaking out everyone who went long the last 3 weeks. I hope you didn't?

     

    Keep your eye on 1298 midpoint of last big bullish daily bar on June 19th.

     

    If it doesn't hold then ... :puke:

    LOL it will just be a double bottom shakeout. After .50 comes a fib number for next stop. You believe in fibs..right?

  3. Posted

    It is jumping.

     

    Out the freakin' window!!!!

     

    Or to put it another way - wave 5 down is underway as I have said continuing the bear trend.

     

    It ain't over till its over.

     

    Wait the end is coming (the end of the bear and the end of the permabulls) but will you be still afloat when it does?

    Shake out my boy shake out...getting ready for BIG move UP.

  4. Posted

    Hello,

    I don't know if is there someone, but I would like know how to create a Heiken Ashi bars in this platform. I know that the best way is easylanguage (less lines).

     

    Can someone help me?

    OEC HAS Heiken Ashi. Log onto platform ...select VIEW from menu at top...then select CUSTOM INDICATORS from drop down menu..then select CUSTOM INDICATOR LIBRARY from the drop down menu. Then scroll down and see Heikin Ashi _LP package. Right clik and select import from file. It will then be available in your indicator choices from the chart. You won't have to create anything!

  7. Posted

    Algo's and HFT's got nothing to do with - stops being hit, if they are placed correctly - or deciding whether or not to average LOSING trades.

     

    Also timeframe matters not one bit to me. I use a max position loss, not what it does day to day.

     

    I never, at least intentionally anyway, go beyond it. Never.

     

    What is the sense of a having a limit but saying well just this one time. I promise. Really I do. Well ok most of the time. No, no really.

     

    :roll eyes:

    great! Maybe a good way to trade.

  11. Posted

    Markets can remain irrational longer than most traders can remain solvent.

     

    You always have the smallest position when you are immediately right and the largest position when you are completely wrong when averaging into losing positions. Letting the stop take you out of a position is a better idea.

    I suppose if whipsawing is good.....:rofl:

  12. Posted

    What you say is true ... except you still have time things.

     

    Say if you started shorting in 2008 at $700 alllllll the freakin' way up till October 2011 at the alltime high of $1921 and then brilliantly :doh: started going long from then until now.

     

    A body could become a buried body when they couldn't pay back the loan shark used to fund margin calls.

     

    BTW averaging up or down is for suckers, plain and simple.

     

    You put on a trade and let the stop do the work. Ain't no other way if you want to survive and more importantly thrive.

    like i said it isn't for everybody. IMO averaging up or down being for suckers is no longer necessarily for suckers...markets have changed and the rule carved in stoned are somewhat outmoded...out dated...the persistant belief in this one thing has probally busted more accounts than one would attempt to count.....in recent years. The world of algos..hft's has busted some of the "carved in stone" rules to pieces. Traditional SL placement is probally also guilty of busting accounts IMO. I think if a body is daytrading...working off max stop limits (for daily loss) and doing some averaging up and down is more conducive to profitability in this day and age. But again, whatever FLOATS ones boat is the way to go.

     

    As concerns long time frame investing via averaging down/up can also work IMO...but again you gotta have the $ to do so.

  13. Posted

    Hi all, I am new here and I hope all you will welcome me here. Thanks in advance.
    Welcome! Please don't pay any attention to anything Patuca says on this forum. Mightymouse amd Boca Raton may wish to back up what i am saying! Mitsubishi used to hang around here but he left and we have not seen him for some time. Cap bob is still after gold..i guess.

  14. Posted

    One could possibly look at it this way...every time price goes against ones position it is actually getting closer to going in favor of ones position. So..down can be the path to up and up can be the path to down......could it be that things are not as they seem but they are as they seem not? ..in the markets could it be squares are circles and circles are squares ...bearish is bullish and bullish is bearish?

     

    Markets cannot go straight up or down.

  15. Posted

    A body? I prefer using my mind to make decisions.

     

    And as you know, I believe there is plenty of time to buy Gold ... and at a much lower price.

    Have you not heard of theory about catching a falling knife? Or averaging down? Yes i know both are no no's in the world of trading rules..BUT as we know via a cursory glance at any and every chart, that, price cycles..rotates...up and down. So a body may want to go long as prices are dropping and short short as prices are rising (i am not recommending this..just saying). Why? Well the end conclusion of going up is a going down. And the end conclusion of going down is a going up. Sooner, or later. True, the variables can there..i.e. it may go down then down some more and down some more and more before turning up or vice versa, but it will turn and when it does a body has loaded the boat and has a good average price...and it will be nice sunny sailing for bit littered by visits to the bank retrieving funds from brokerage between ports. Naturally, breaking the rules is not for any and everybody however, if one is able to do so it can be profitable. If one is not able to do so it can be the sinking of the sailboat.

     

    Gold remains bullish regardless of what the pundits say. As a matter of fact it tis more bullish now than it was 6 months ago.

  19. Posted

    Such a comedian. :haha:

     

    Yeah its still above the price it was FOUR YEARS AGO.

     

    But bullish while in a bear trend of lower lows and lower highs - no such thing.

     

    Keep hoping and wishing and holding your breath.

     

    Though I think might be better if you looked at a chart every once and awhile before posting any more bullish nonsense.

    LOL :rofl: its a pullback LOL :helloooo: that is what the chart says.

  21. Posted

    Whether we realize it ...own up to it or not ...or even strongly deny it...we as traders all react to price action (pa is any movement in price even one tick), and from our reaction to past pa we form a bias..and extend that out into the world of anticipating or predicting probable future price action. Otherwise, there is no point in taking any position. We indeed make an attempt to anticipate probable future price action by the very act of going long or short. Most just hate the word predict....tis laughable to me......:rofl: :rofl: :rofl:

     

     

     

    verb

    Predict

    say or estimate that (a specified thing) will happen in the future or will be a consequence of something.

     

    verb

    Anticipate

    regard as probable; expect or predict.

     

    synonyms: expect, foresee, predict, be prepared for, bargain on, reckon on; More

    guess or be aware of (what will happen)

     

    verb

    React

    respond or behave in a particular way in response to something.

     

     

    verb

    Bias

    cause to feel or show inclination or prejudice for or against someone or something.

     

    verb

    Forecast

     

    predict or estimate (a future event or trend).

     

    synonyms: predict, prophesy, prognosticate, foretell, foresee, forewarn of

     

    More noun

    noun: forecast; plural noun: forecasts

     

    a prediction or estimate of future events, especially coming weather or a financial trend.

  22. Posted

    Lately I seem not to have any success with traditional candlestick patterns.

    Al Brooks deals with trades similiar to trades discussed and tested in the 20 ema thread mentioned above. His terminology may be different but basic concepts are about the same. In addition, he goes into many more details and many more trading opportunities. Candlesticks patterns and setups alone are not the key. One must look at market structure and pressures that are present in the context prior to the candlestick pattern or setup evolving.

  23. Posted

    Gold May Hold In Sideways Trading Pattern Next Week

    There was no majority opinion toward the direction of gold prices for next week in the Kitco News Gold Survey, but a nominal number of participants said they expect gold to hold in the current trading range between roughly $1,280 and $1,315 an ounce.

     

    Out of 33 participants, 25 responded this week. Of those, 11 see prices trading sideways or are neutral, while eight see prices down and six see prices higher. Market participants include bullion dealers, investment banks, futures traders and technical chart analysts.

     

    Last week, survey participants looked for prices to fall this week. As of 11:30 a.m. EDT, Comex gold for June delivery was up $6 for the week.

     

    Since about late March, gold prices have largely held in that trading range, and with little economic news slated for next week, and tensions between Ukraine and Russia not dominating headlines at the moment, several survey participants said they see no reason for the market to move out of the current range.

     

    Charles Nedoss, senior market strategist at LaSalle Futures Group, said the market is stuck between the 100-day moving average, which comes in for the Comex June contract at $1,290, and 200-day moving averages, which comes in at $1,300.90.

     

    “Right now this is a pocket-picking trade. People say there are up trends and down trends, but there are also sideways trends and that’s where we are. Eventually we’ll break out of it, but it’s impossible to figure out how, so you have to reduce exposure. The only thing supporting this is the Ukraine, but it’s not going higher on the Ukraine,” he said.

     

    Frank Lesh, broker and futures analyst with FuturePath Trading, said gold “is forming a wedge or triangle and as the trading range contracts and the longer it goes sideways the greater the breakout or breakdown should be… Who knows what the catalyst will be as there is enough conflicting news to confuse us all, or at least me. I see an upside breakout to around $1,360 and downside around $1,220. I am neutral until this market makes a decisive move.”

     

    Those who see higher prices said gold may benefit from the recent tumble in U.S. Treasury yields. Earlier this week, the yield on the 10-year U.S. Treasury note fell to 2.5%, despite an uptick in certain inflation gauges.

     

    The “bond market (is) suggesting something (is) askew, and suggesting flight to safety,” said Jim Wyckoff, Kitco’s technical analyst.

     

    Those who see lower prices said gold’s recent trading action may portend at least a move down to test the current trading range support levels.

    yep..me thinks i should trade the trade the range... short at top.... long at bottom. right now, odds, very slightly, favour an upside breakout when a breakout does happen but at this moment bull and bear pressures are about equal.

  25. Posted

    Broken clocks are also right twice a day.

     

    You got to understand that when something is so obvious it is obviously wrong.

     

    The stimulus hasn't created inflation. Here, in Europe, in Japan and everywhere else.

     

    And the world has gotten better and better at living with uncertainties.

     

    At some point, who really knows when, gold will have a bull market again.

     

    Until then I will continue to trade it, whichever direction it goes.

     

    In the meantime I have better uses for my money than buying it.

    every man has to pull his on little red wagon...

     

    As far as inflation i think the average american feels it regardless of the numbers gov spouts out. Just like they say we are in a recovery and economy is getting better..hog wash...un employment getting less...hog snot...businesses are closing left and right..dropping like flies...housing getting worse..official koolaid is horse pee...

     

     

    Indices will crash....bubble will go ONE BIG KABOOM....soon..sooner than most think...

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