Goldtent TA Paradise

So You Wannabe a Kamikazi Trader

1. NickG says:

   September 3, 2017 - 12:15 pm at 12:15 pm

   Agree with everyone, wouldnt hold longer than a few weeks, but can be very profitable if you know how to trade them right. I made a ton on JNUG (bought monday sold friday)

   My advice (from experience)- same rules apply as with regular trading (not investing), stalk stalk stalk on the sidelines until the underlying gets to a big resistance level. Trade against that level, using it as your stop. Minimize risk/ let gains run.

   Example – we know based on various reasoning that 1300 is a big level on gold. We’re around 1330 now. If gold pulls back to 1305, and USDJPY looks toppy/weak, you could buy JNUG, using a CLOSE below 1300 as a stop. Defined risk. The closing price is important, as intraday, prices can go through S/R levels to hit stops, but won’t CLOSE there.

   • Fullgoldcrown says:

     September 3, 2017 - 1:30 pm at 1:30 pm

     Great advice…BUT its tough to hold intraday when your Stock is cratering thru support…and You can get clobbered when they just keep dropping.

     No easy solution in this game

     • NickG says:

       September 3, 2017 - 3:27 pm at 3:27 pm

       True, as an investor, that’s a call you need to make. Situational awareness of the fundamentals and news flow is crucial if you’re leveraged. If your holdings are cratering you should immediately know why, and what your plan to deal with it is. It’s part of the game – scared money doesn’t make money. But just the same, many millionaires are made using debt & leverage – people who know how to use it and are willing to do the dance, so to speak. If it’s not for you, the community bank is offering CDs at 1.4%

       • Fullgoldcrown says:

         September 3, 2017 - 6:33 pm at 6:33 pm

         Wow…its Up to 1.4% now ?