Hi Guys,
what do you think?
Is gold going to spike to $3,000 on a short squeeze as China uses gold to buy oil from Iran? - GoldSeek.com
I think that is one of about bazillion predictions.
Could it happen? Yes. But gold could drop too. The market is a strange place. One would have thought that fundamentally, since Spain got downgraded after hours yesterday the euro would drop. It did for a bit, then went up.
One would have thought that since the BOJ announced more huge bond purchases, the yen would drop. It didn’t.
Just trade the levels. Worrying about all the “coulds”, “ifs”, “possiblies”, “they saids”, “unconfirmed reports say”, will only lead to a slow draining of an account.
Basically your asking random people on an internet forum if your trade idea is good. IMHO if your asking others to justify a trade its probably not one you should take. Just trade gold like you trade anything else, a market is a market. Just imagine a doctor checking WebMD to check his diagnosis of a patient. Either you did your homework and its a good trade for you, or its not. Never ever trade tips, never let the internet sway your decision making.
But if it is on the net then it has to be true lol
That turned out to be a dream, one that cost me hellva lot…don’t even want to think about it.
Guess there was way too much of an anticipation on Euro heading down…sigh
It’s not really a trading question more one of economic speculation and if I should buy a couple of ounces of gold and keep them sitting around…
Well, depending on the account size there is an argument for buying a position of gold with a 1:1 leverage with some of your excess margin in order to hedge against inflationary effects on your account balance.