Gold GC1 Update

Oct 10

I said earlier this week that it's supposed to drop but will wind up going sideways instead and it did. I put my money where my mouth is, and went long on GLD calls and ETF because my MFI indicator went oversold then crossed back over the red line.

We'll see if I'm right or not and if the 3hr MFI indicator actually works as well as I think it does. Bought 30 GLD call contracts and 2k shares of GLD, so it's a very sizeable bet.

Oct 11

Trade active

Went long this afternoon as previously stated.

In case you're wondering, I sold my house in WA and sitting on a bunch of cash, that's why I bought so much GLD. Gotta make some money off of it, didn't want to risk a house (literally) playing with options.

Oct 14

Trade closed manually

I closed it after lunch when I saw that MFI and RSI both hit overbought. I'm after the big move, not trying to time the top and bottom, especially with my house money, lol.

Made $40k in one trading day, I think that's plenty. By the time I cashed out of ETF and call options, I was close to $800k in it.

Probably gonna go sideways tonight and I don't want to stay up all night watching futures. Will post an update, and wait for MFI to go oversold before re-entering