Relatively accurate i.e. "Most of what I said was wrong, but there may be a little portion that was right." The three things to consider in Gold right now, are all Head and Shoulder patterns? Why not mention the channel that you have clearly illustrated, and the support around $1,140? Surely those are more important then mentioning Head and Shoulders three times. In addition, there are many factors to the price of GLL; one of which may be gold. If you have an opinion on Gold, short or long Gold Futures. It's like saying... "I have an opinion on an American Index, but buy the German DAX instead!"
Lanmar
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I'd rather not waste my time educating a fool.
rmwallner
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You should always educate yourself, and given your limited analysis it may be time well spent.
Lanmar
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You clearly have no understanding of futures vs equities. Equities such as GLL, which is an ETF, are an inexpensive way to capitalise in commoditiy movements. Not every trader has the abundance of capital to trade the futures market, as you clearly have. Your track record on trading view is extremely impressive. Having the accuracy you've attained is far and few between. Your inability to recognize my emphasis on the major channel is perplexing, as my entry points are clearly based on the channel. Nevertheless, considering your excellent published ideas and record, it makes sense that it would be overlooked. Next time you have an opinion on someone elses analysis, follow up with your own. Perhaps then, the fool will have some ground to stand on.
rmwallner
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The biggest problem we have here is ego. As soon as someone calls into question your analysis, the names start flying. If you want to be a successful trader, leave the ego at the door. Your second problem is that you gave an analysis on XAU, but then proceeded to recommend the purchase of an ETF. If you pull a comparison chart of the two (over any time frame), you will see there is not a 100% correlation. If you want to trade an ETF, study the chart of the ETF and not a derivative market that comprises the ETF. My comment is not geared towards calling your analysis short sided (which it is by only mentioning a price pattern that doesn't work 50% of the time), it's to make sure that others do not make the same mistake by analyzing the wrong things entirely.
Lanmar
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Firstly, I couldn't care less who follows my analysis and whether they make mistakes or succeed because of it. My analysis is strictly used as a journal entry for myself, as well as a trading plan for each trade. I do not call you a fool because of ego, but because you do not fully comprehend the trade and immediately criticize something you obviously do not understand very well. It would be of educational value had you asked questions, instead of making silly assumptions and incorrect comparisons, such as, "I have an opinion on an American Index, but buy the German DAX instead!" This is absolutely not comparable. Going long GLL instead of shorting XAUUSD or GC1! is in fact an excellent instrument to profit from gold price depreciation. Why don't you do a little bit of back testing and come back to me. I personally, am very fine with a 90%+ correlation coefficient if it corresponds with my risk management. Yes, I am absolutely aware of the ETF contango and roll over deterioration, but my job is not to make suggestions based on another persons time and another individuals suitability. I simply offer alternative ways to skin the cat. Bottom line, a trader should make decisions on his/her own, not ride the tail off of others research. This website is useful not only because of a live journal, but because it shows a perspective that you may not have seen. One trader might emphasize pattern A, while another will emphasize pattern B.
rmwallner
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It's official you're an idiot. If you want to keep a journal, keep a journal. Posting on a public website implies that you have an idea worth spreading. You don't. We want analysis that goes a little farther than simply pointing out a Head and Shoulders pattern. Real smart people know when they are wrong and make the proper adjustments, idiots defend their points of view till death. Best of luck to you in your plunge to the bottom.
Lanmar
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Say's the guy that's never contributed once other than a comment. Not much of a plunge if I end up being wrong, I know my risk. You're clearly a delusional gold bug buying on ever dip. This convo is too winded for me. Take a hike