Kumowizard
Long

I'm sorry, this post is not about Gold

FX:XAUUSD   Gold/U.S. Dollar
265 22 21
This post is about why I'm not surprised 95 % of people lose in this game called "trading"

Please see my thoughts on the board, and please feel free to comment.

And before you misunderstand, I will not disappear... not for a while :-).
I will do my best until there is no conflict of interest with my main job.
I am just thinking about how to head for a better direction.

p.s.: by the way, few signals suggest Gold             may spike to 1280-1295 from here ;-)
skhosl02
2 months ago
Thanks for all your posts. It's very sound trading advice. You are not afraid to call it quits on a position and that is commendable. I hope to be continue learning from you for as long as possible!
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Kumowizard PRO skhosl02
2 months ago
thx a lot for the kind words! for some of you who really care and appreciate, it worths to continue as long as I can.
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Gerser
2 months ago
learn... learn with you and your post day after day ..ready to follow live trades .. hard to understand trading games ..
evry morning you are on my reading ...
Hope see you long time ...
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CaliforniaTrader
2 months ago
Thank you Kumo, I have really enjoyed your posts. You do extraordinary technical work, and I say that even thought I am a trading veteran of 36 years myself.
As much as I prefer to keep my own approach simple (the field of T.A. is HUGE) still... of all the systems out there I would very much like to learn more of the specific points of the Kumo-method. It's very impressive. Perhaps you can direct us to your favorite tutorial on the subject, although you do a fine job of explaining your thought process and why you take positions already But by having a greater and deeper understanding you might help some of us incorporate these tools on our own. And perhaps then you wouldn't have to explain so much to us. :-)

Thanks again... keep up the good work, and let us know how we can help out.
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2use
2 months ago
I follow, read, star (if i like) and just bookmark some ideas of yours if i wish to revisit them. I think you are the only one i follow that i trust the ichimoku analysis, plus you at times cover interesting currency pairs, and indices i like. so i can bet that 60% of your ideas are being checked by me.
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2use 2use
2 months ago
PS - you kinda have an answer in the question as well. 10 year charts are not as interesting to day traders here, they look for daily ideas mostly, if not minute ones. Bund is also not that often tradable as a the major currency pairs. I actually save probably more of the long term ideas as i dont trade often and look to learn and see if investing ideas work,
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In my case I started following you by luck/chance. Although I am not a Ichimoku, I am a Heikin-Ashi trader.

What I look for are:

* Ideas, some that go with my own ideas, or that go against, so that I am always remembering that it can always go either way.
* Experience, myself have less than a year of trading. Listening to traders with vast experience is very important to me.
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GregGibbons PRO
2 months ago
I very much appreciate and follow your work! I hope you continue! And thank you for your help making me a better trader!
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CaliforniaTrader
2 months ago
P.S. Gold appears to be in more trouble than most were anticipating. $1200 was my previous line in the sand. Now i'm not so sure it will hold. $1165 - $1175 looks better. So I would not wait for a rally to 1280 to trim any leveraged positions, although it would be great to fade such a rally. I just wouldn't bet on it happening. Also, wouldn't surprise me to see another couple months of sideways to down, into December, i.e., speaking of PM's in particular. And goodness, gracious... look at what happened to copper today. Ouch. It's clear now that traders have been too optimistic on inflation-sensitive commods. Of course, the over-leveraged hedge funds refuse to sell despite the recent drop. How can that be good? And yet, bullish consensus remains in the single digits. That's about the only positive development. To me price itself trumps all other considerations. Current position -- none. Covered silver shorts from $20 too early ($18.13) which is typical for me. Very interested in platinum and palladium going forward, especially next year. Relationship with gold is intriguing. All the best, gents.
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CaliforniaTrader
2 months ago
Update: Today's sentiment readings are gold: 17, silver 13, off their recent single digit lows. These numbers are from www.trade-futures.com, a subscription service. Just remember, sentiment is one of the weakest tools in the ElliottWave area. If you're following the specific waves, gold might spike to below 1240 before it has a better chance to rally.
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IvanLabrie TOP CaliforniaTrader
2 months ago
Hi, great material is the norm with this guy.
I agree that people prefer flashy/funny/gurus, and/or, they do better since they spend all day publishing idea after idea, and then frequenting chats. (people who are trading, don't have time for that).
Anyway, keep up the great work, cheers!
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IvanLabrie TOP IvanLabrie
2 months ago
ps: look at the top author list for crying out loud...it's a like contest, which can never be good, specially in a field where 95% of people fail.
Where are the performance metrics? :/
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CaliforniaTrader IvanLabrie
2 months ago
You got that right. The only question to ask is "where's your track record posted?"
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IvanLabrie TOP CaliforniaTrader
2 months ago
I'm working on having one to publish. For now, posting ideas with entry/stop/exit is a good idea. (or outlining them clearly)
Others post vague ideas, and then update if they went favorably...lot of dirty practices (which kumowizard doesn't do ;))
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CaliforniaTrader IvanLabrie
2 months ago
Wasn't talking about you, amigo. But if you've got one, let'r rip. BTW, John Doody (a gold stock newsletter) is one of the only writers i've seen publish a track record using an accounting format that's well respected.
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IvanLabrie TOP CaliforniaTrader
2 months ago
Yes, I think it's vital for more serious business. For now, I'm starting out, compiling a track record over a year after refining my strategy.

Thanks.
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CaliforniaTrader
2 months ago
As long as i've hijacked this thread (temporarily!) here's just one more comment on gold (i promise) For those who follow the work of Robert Prechter's group Elliott Wave International, they continue to be short term bullish, believing that gold might even rally to new highs, close to $1500... or at least $1435. (I happen to disagree until I see the rally begin) However, they remain long term bearish, seeing this entire rally from the lows under $1050 as a bear market rally to be fully retraced, with new lows to be expected next year and beyond. Clearly, higher rates have historically not been good for gold, and that's exactly what we've been seeing lately. Of course, there are more important technical considerations to discuss... and we'll let KumoWizard handle that later. After all, it's his page!
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MaffeProg
2 months ago
You have a new follower. I think there are people trading in the start and go away after a time because of they have not time to trade or they simply just blow their account.
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mrtwist3r PRO
2 months ago
I'm learning a lot from you, Kumowizard. You do amazing and extraordinary job, and there are many people on this site who really appreciate what you doing. Thanks for everything!
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MarkLangley PRO
2 months ago
Dont allow those that dont know or care they are floating in this space looking for a silver bullet and forget that behind your hard work they need to do their own hard work. You kindly share your thoughts and ideas based on your analysis as for me i check myself in kumo against yours which i appreciate. To many want a signal service and for you to pull the trigger for them. Dont get despondent at the end of the day you are successful and trying to share success with others
keep it up
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I enjoy all of your charts and comments Wiz. It can be very difficult to keep up the enthusiasm to post on social media. I find it very difficult myself. I find that by doing this we learn a lot about our trading method. Do this for yourself as much as anyone else. People are interested but they may not show it most of the time. Keep up the good work. TTB
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Kumowizard PRO TheTradersBias
2 months ago
Thanks very much. I agree with you. That was one of my reasons when I started posts, to become less impulsive, more consistent and systematic in my trading, and to help others same time.
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