there seems to be separate theories here...some say go up some say go down...well...that's exactly correct...no one can predict the future...otherwise... haha... superpowers dee...

I'm sorry to those who are losing profits. I realised those who lose profits are reading too much resources, and believe them. Can I say you trade blindly?

This is the points I want to get across.

1. Reading resources is good but only take what best suit you.
2. Reading too much always confuse own analysis. Thus, you will never know where you go wrong and how you can improve your trading.
3. You know how to get into the market, but u didn't know when to get out.
4. Again and again, hopefully the last, what is your trading plan?

I expect something similar too though not necessary next week.
March 2008 price was 1000 level.
October 2008 price was 700 level. 30% drop in 7 months.
2008 is just 3 years ago not even 10 years ago.

This post has been edited by getsmart: Sep 25 2011, 04:55 PM

i have a question here...

it seems that US is the biggest deposit holder of Gold... on one hand, the USD increase vs other currency but then the gold price drop also....

can i say that the US actually don't 'earn' anything from this incident?

because they own so much gold...the gold price drop also not really good for US.... although their currency strengthening now...

This time it will drop atleast 50% Don't buy gold in this two month! You have been warn!

50%? sounds too much :S

And many gold trading business will lose lot of money too!

Anyone had any idea why is the gold price started to drop significantly recently?

Believed that if read previous posts, think that gold will not drop so severe until 1200 per ounce... That will become a huge gap and many parties will start to gold rush again.

P/s, newbie here, pls shoot if wrong.

I want to ask whether https://trade.plus500.com/ is a legal website or not?

I mean if i trade gold here, will i get scam or not?

Please tell me guyss...

hopefully those who got burn this round would learn from mistake and not take people's sentiments as guidance.

buy the dip, sell the rumor

Read this: http://www.bloomberg.com/news/2011-09-23/g...rgin-calls.html

Dont trade over the internet, most of them are scam!

Agree, and anyone do trading with plus500 before?

And what platform is reliable to trade gold? any advises to those sifu sifu?

Thanks

Trade locally with bank if you must, never trust anyone who promise a great profit return.

Thanks mr David. Seems like now is doing the correction on the gold price.

Nw thinking want to ready bullet for this or for stock? Buffet was right, one can't justify how long with the bear lives and stay, only time will tell.

however it is, i'd say better to reload after the options expiry on tuesday and after price stabilize a bit

Nobody can predict the future.
Of course it is easy to talk for the sake of talking.
Why don`t u bring along any reference to justify your statement ?

haha some of d comments really can make it into jokes of d year. just play (play...not invest, if u got what i mean. hehe) with gold for some years already can predict 50% drop. walaooo

either really superquick learner or super natural human talent.

one question, if u can really predict that good, why u are not millionaire yet? sell before drop, and buy before it increase.

The time will tell, very soon. I am having much fun already.

What Does Risk Management Mean?
The process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making. Essentially, risk management occurs anytime an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action (or inaction) given their investment objectives and risk tolerance. Inadequate risk management can result in severe consequences for companies as well as individuals. For example, the recession that began in 2008 was largely caused by the loose credit risk management of financial firms.

Read more: http://www.investopedia.com/terms/r/riskmanagement.asp

Now, I believe many of the investor here do not look at charts. Thus, I'm going to share with you a very simple method to manage your risk by just looking at price.

1. Every time the gold price makes a daily new high, take note of the price. (eg: $1800/oz)
2. I have decided to use my risk factor of 5% (please determine your own factor) to determine my cut off point (eg: $1800 x 5% = $90/oz). This means if the price does drop below $1710/oz, I am going take what ever profit/losses I have.

This method will help you to ...
i) cut loss when you are wrong (cut loss can means profits or losses)
ii) maximize profits when you are right

This method weakness ...
i) This will work very well if you bought gold at a very good position.
ii) If market is going to move sideways such as in 2008, you will loss a lot of money instead.

My disclaimer ...
i) Trade at your own risk using the method i just shared.
ii) Read i) again!

Thus, I still suggest to learn a little bit of technical analysis. Even simple moving average can help to make a good trading decision.

If you want to be successful in the business of trading, you have to take the time to gain the education and experience and make your own decisions. Sounds like every other business doesn’t it?