382 replies to this topic

[tradermama]

http://www.kitco.com...20121231AS.html
CME lowering margins for gold futures
TM

[DrSP]

They should lower the margins on /SI. Too high!!!!!

[DrSP]

Someone asked me to post "trades". I think it was dharma, quite a cheeky guy. I actually posted some trades like DUST with entry and exit. Since the last 2 days, I got to trade the "precious" metals on the short side. I am up 0.45% on my account (I am talking account, I am not saying trade) as a result of shorting PMs. I didn't close the trade. I placed stops at a higher price but I don't see it getting closing any time soon. Which means I intend to keep the short if the price goes lower and lower.


If I can do 20 trades like this via PMs per year, my portfolio can be up good. This PM bull market has been good so far. Bear markets are bad, because it is hard to catch the price and hard to trade the volatility.



Should the gain cross $100k on this trade alone, I can meet dharma anywhere in the US, drinks on me pal. BTW, this would be my 1st win for the year. So, part of the proceeds, as every year, will go to the American Cancer Society.

Long live Bulls/ Bugs (whatever that is!)! I need money from you.

p.s: Ask me to post recos, but please don't ask me to post trades from now on, I am not your money manager. EOD.

Edited by DrSP, 03 January 2013 - 07:35 PM.

[Russ]

Dr... You said you were long GLD just recently, I guess you changed your mind. How low do you see gold going on this pull-back?

[DrSP]

I do, Sir, with a stop of $1450, adjustable. Buy and hold of SPX for the last 12 years (cherry picking I know) didn't yield any results. I hope this buy and hold doesn't become like that.

[Russ]

Interesting that you are both long and short at the same time, so you are a long term Gold bull after all.

I do, Sir, with a stop of $1450, adjustable. Buy and hold of SPX for the last 12 years (cherry picking I know) didn't yield any results. I hope this buy and hold doesn't become like that.

[DrSP]

Russ, My opinion and trading can be different at times. I hate to be a bull. I put some money in that bullish play, just to see if all the gibberish coming out will be true. If it is true, I don't want to miss it. If it is not true, it doesn't hurt me. Around that core long position, I always trade my shorts. I actually made several times more than my long position since 2 years on shorting precious metals, especially silver. So, if that long position ends up at 0$, it doesn't even hurt me a bit. 99% of the time I won't lose on my PM shorts because those are very short time frame and mostly futures. I have stops at all times. Unless it gaps up gigantically, I will never lose any money on shorts. Thanks for the discussion.....err....deliberation.

[dougie]

lets see: you bought your first gold coin in 1931 and you never lose any money on shorts. I call that incredible

[DrSP]

You are incredibly (not) funny, doug. I stated my long holding with a stop price and my short term trading perspective. My 1st purchase doesn't have anything to do with my current outlook, holding, or trading.

[Russ]

You're welcome DrSP, you must have a lot of money after being alive for about a century! We should all heed your years of wisdom, since you must know how to manage money or you would not still be in the market.

Russ, My opinion and trading can be different at times. I hate to be a bull. I put some money in that bullish play, just to see if all the gibberish coming out will be true. If it is true, I don't want to miss it. If it is not true, it doesn't hurt me. Around that core long position, I always trade my shorts.

I actually made several times more than my long position since 2 years on shorting precious metals, especially silver. So, if that long position ends up at 0$, it doesn't even hurt me a bit.

99% of the time I won't lose on my PM shorts because those are very short time frame and mostly futures. I have stops at all times. Unless it gaps up gigantically, I will never lose any money on shorts.

Thanks for the discussion.....err....deliberation.