tag:blogger.com,1999:blog-27784316.post5539275706529529263..comments2023-09-06T03:23:43.027-07:00Comments on I AM A FUTURES TRADER: Chris Johnstonhttp://www.blogger.com/profile/01542415946929766288noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-27784316.post-21094906494689822792011-12-28T19:30:09.973-08:002011-12-28T19:30:09.973-08:00With Gold it just is not setup for an entry in eit...With Gold it just is not setup for an entry in either direction for me right at the moment. I am looking more long that short, but I don't have a trade in either direction. The big move is when it goes back under $400 again, that is yet to come. I doubt that will happen in one year, but we will go back down there or lower again in spite of what all the "experts" sayChris Johnstonhttps://www.blogger.com/profile/01542415946929766288noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-9982142574837287512011-12-28T08:20:17.808-08:002011-12-28T08:20:17.808-08:00Chris,
Thanks for the explanation on gold above--y...Chris,<br />Thanks for the explanation on gold above--yes it does make sense the way you explained it--at least today gold is having one of those days where it is down big time and even as you said it is way oversold etc.---Would you still look to go long now ?--Its even more oversold at this point--it could drop even more before it goes back up .We could of possible missed the big move down as you said, but i guess time will tell.<br />Like you said gold and silver are looking very weak and today even more so.Roberthttps://www.blogger.com/profile/00312302955234587786noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-89399203994382823072011-12-28T07:12:27.443-08:002011-12-28T07:12:27.443-08:00On the subject of Gold, there is a big difference ...On the subject of Gold, there is a big difference for me in a market that is setup to move in a certain direction and actually executing a trade. As a short term trader, we have to be pretty precise in where we enter and exit trades to keep our money management sound. On a short term basis I am actually looking at getting long Gold and Silver right here. However, I think the large moves this coming year are going to be to the down side. I want to sell rallies not sell breaks. We are just way to oversold on a short term basis for me to take a short entry in Gold here. The problem as we all know is that at times oversold can get more oversold. Sometimes we just get these huge waterfall types of moves from formations like this. I would hate to miss that, but the way I have success is sticking to my discipline and taking the trades that have the best risk to reward ratios in them. At times this causes me to miss moves which I hate, but I just can't find a way around it. I hope this answers the question, if not let me know.Chris Johnstonhttps://www.blogger.com/profile/01542415946929766288noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-68227627956078606712011-12-28T07:07:06.243-08:002011-12-28T07:07:06.243-08:00John, don't get me wrong, there is not a day t...John, don't get me wrong, there is not a day that goes by that I don't get more angry with banks. I do blame them now, I did not initially. However, for you to say that the socialism model is not to blame for Europe is just incorrect. Just look at the entitlements. Someone retiring at age 50 with lifelong benefits like they are given, paid for by others is the problem everywhere in the world. How in the world can you support that? When you go to Italy, the siesta's are ridiculous when you are trying to find a trattoria to get something to eat in the afternoon.<br /><br />It all boils down to the world having too many people not supporting themselves. I wish I had the answer but I do not. I sure as hell don't see the answer in any of the political candidates out there today.<br /><br />There is just nobody that is ever going to convince me that just taking all the money from the have's and giving it to the have not's can ever get you anywhere. I remember a year earlier in my life when I was in sales that I purposely made no money over the last few weeks of the year so that my tax rate would not jump up. Had I made more money in gross terms, I was actually going to wind up with net less after my tax return. My bosses at the time were not pleased, but when I showed them the numbers they actually agreed I was doing the right thing even though it pissed them off.<br /><br />You can't take more than half people's money that they earn, who in the world would be motivated to keep earning it? If you could structure Socialism in a way where the tax rates on the accomplished was reasonable, I would consider that but I don't think these models you mention do feature that. Helping those who need help is something I willingly do, but having big burdens put on me to force me to do it is another story.Chris Johnstonhttps://www.blogger.com/profile/01542415946929766288noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-85186963853570587402011-12-27T16:47:54.452-08:002011-12-27T16:47:54.452-08:00Thanks Chris
Looking forward to learning from you...Thanks Chris<br />Looking forward to learning from you in the New Year....awesome stuff!Mingomanhttps://www.blogger.com/profile/12294725254435497142noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-24173625173655195332011-12-27T12:31:42.824-08:002011-12-27T12:31:42.824-08:00Chris,
Excellent report ,just a little confused ab...Chris,<br />Excellent report ,just a little confused about your gold comments .If you feel that gold market is so weak why not just short it now ? You say you would like to see one more bounce in gold so your new indicator would issue you a sell--are you saying if we don't get that bounce gold will not go down..just a little confusing to me in that if its so weak why not just short it now--if it bounces up or not does not seem relevant ..maybe you could explain your reasoning some more and how your indicator works-bottom line why do you need to see a bounce up in price if you believe gold is headed down in a big way.<br />Have a Happy New Years !!!Roberthttps://www.blogger.com/profile/00312302955234587786noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-37163707413821569822011-12-27T12:07:37.750-08:002011-12-27T12:07:37.750-08:00Hope you had a great Christmas, Chris, and I guess...Hope you had a great Christmas, Chris, and I guess we don't disagree wildly where Obama is concerned as you pointed out. I also agree that both parties are so broken they can't be fixed, not in their present mode of operation at any rate.<br /><br />Socialism can work, I think the Scandinavian countries have put to bed by now the old myth that it can't. Don't let ideology get in the way of the obvious. The mess we're in and that Europe is in isn't about socialism, it's actually about capitalism and the greed surrounding the mortgage bubble. And we can look to Scandinavia there, too, since the Swedes are the only ones I know of who handled the banking crisis competently: they took over the banks, stripped out the crap and sold the good parts back to the private sphere with health restored. We, of course, didn't do that, because we're ideologically bound to reject that possible road and continue to adhere to the 'too big to fail' mythology. Whatever. Most of Europe is following in our misguided footsteps. Ideology will always come back to bite a country or a person in the butt, like it did in the USSR and is doing here. Rejecting practical solutions outright on ideological grounds (otherwise known as 'faith' in religious circles)is a good chunk of why we continue to flounder and just make things worse.<br /><br />I think any mode of economic system can work if it's applied wisely and practical considerations are always at the fore. Both of which are pretty damn rare, which is why every system usually ends in the same place--failure.<br /><br />Sorry to run on. I know you're opposed to supporting people with the money you've earned, and theoretically I get that. On a practical level, when the gap between rich and poor is at a level we haven't seen since the Gilded Age and the ranks of down and outers is growing year by year, I have to think that something is seriously wrong here, and that the answer isn't more of the same. I don't see where a few extra thou in taxes is going to kill us. I've seen government programs actually help people--in fact, I got my first decent job through CETA back in the late '70s, which resulted in the career I've had ever since. A little bit of socialism that got me and a lot of other people on track.<br /><br />Thanks for the metals analysis, I fully agree with you there and pretty much always on market issues! And don't dial back the politics, I enjoy reading how another good mind is seeing things. It makes me think, and that's never a bad thing.JMhttps://www.blogger.com/profile/09876016557456927299noreply@blogger.com