Friday, November 5, 2010


After Professional Trade Master Program my cluster group of 6 would cover on Gold market weekly and we may post our findings in the forum e-tutorial session.
I love this idea from our Sifu DAR as this is the great opportunities for associates to cross learn and share their market opinions and come to post their findings in the forum.

Whether you are trading, or not trading, whether you have 10 years experience, or 10 months, even only 10 days, posting up your market findings helps to fine tune your trading setups.  While now we are also working in a group, there's much more interesting as traders get to share their opinion and it is a kind of brainstorming.

Not about being right or wrong, cuz we are doing forecast, and what we want is only the discipline.
I love sifu's saying:  "Don't tell me you want to become a successful or profitable trader if you can't even wake up at 8am".
Not about 8am or 10am, if you choose 10am, it is fine too :) make a routine and commit ourselves to the market.

And remember one of sifu DAR Wong's 3N rule: Never think the market is wrong!

I would like to cover a bit on Gold after yesterday's rally and Gold has break above the overhead resistance of 1,387 last night with a sharp gain of USD$44!!

Gold on 4-11-2010 (Thu):
Open: 1348
High: 1394
Low: 1347
Close: 1387
Gold price at 8am: USD 1,386

What's next?

Coast clear! Gold is free to go towards another top, new top, new high.
My target is that Gold to hit 1,421 region.

Trading Plan on Gold (USD) for 5-11-2010 (Fri)
Gold Long
Entry: 1378-80, SL 1,370, TG 1400.

This is my very first posting on Gold, and remember my disclaimer: This blog is my personal trading journal, not a recommendation to buy or sell, do consult your financial advisor before making any investment decisions.

1 comment:

  1. This is the best time to invest in Gold after many months, as gold's price is very low in this few months and will definitely go up in the near future.