Some nice upside action last night

[EL34]

Quote:I may be eating crow to EL34

I am not sure what I have to do with this?

If you are saying that I think you don't know how to day trade, you got me all wrong.

I am saying that you cannot predict prices with your TA

Silver goes down just about every day after a gain.
You can short silver just about every day, just like you did today.
I am looking at a one hour silver chart and there is a move just like todays on just about every day. And Especially on Tuesday's.

[slow to learn]

(06-06-2012 03:20 PM)EL34 Wrote:  

Quote:I may be eating crow to EL34

I am not sure what I have to do with this?

If you are saying that I think you don't know how to day trade, you got me all wrong.

I am saying that you cannot predict prices with your TA

Silver goes down just about every day after a gain.
You can short silver just about every day, just like you did today.
I am looking at a one hour silver chart and there is a move just like todays on just about every day. And Especially on Tuesday's.

E, respectively your wrong you can use TA to predict the market! I just got though using it! I use the spread of the bar, volume and supply. I also looked at the T-3 ma in respect to price action! The further away Price action is away from the T-3ma exhaustion will set in creating a pullback!

[slow to learn]

E, here is a video of Sam Seiden. If you open you mind to something you think is a wast of time I promise you wont be disaponited! Take a small amount of time and watch the video, let me know what you think!

http://transcripts.fxstreet.com/2008/05/...tance.html

[EL34]

Quote:E, respectively your wrong you can use TA to predict the market

You believe you can predict prices?

Why did you short at $29.70?
Why didn't you short it a few minutes later at $29.87

Wouldn't that have been a much better trade?

If you can predict prices then you should have been able to tell that it was going to move higher, then make your short?

If you can predict prices, tell me what the price will be at 12 noon est on Thursday 06/07

You cannot predict prices, all you can do is make educated guesses

You already said you have a 55% success rate
That is called "almost able to predict prices, but not really"

[slow to learn]

E, do you think there are no such things as supply and demand zone after this ''wild ass guesse'' TA does work to predict price action my friend! I just wish I would have had the balls to stay in the whole trade!

See how price action traveled to the exact tick of the bottom of that demand zone and found support then went up? That would have been a good buy opp right? Remember post 10 on this thread?

[EL34]

Look, if it makes you happy and you like doing it, that's all that matters.

[slow to learn]

(06-11-2012 07:58 AM)EL34 Wrote:  Look, if it makes you happy and you like doing it, that's all that matters.

E, Im just saying that every stacker should invest the time to learn the price action of silver. Learn its ebb and flow, and how price action reacts to the supply and demand zones! This would help every stacker to make buys at the lows of each correction. They will not be right all the time but over all the stacker will profit from this education! And its fun!!!!!!

[motionman]

I am waiting for the the video "The Price Action of Silver", slow to burn.

[slow to learn]

(06-11-2012 10:55 AM)motionman Wrote:  I am waiting for the the video "The Price Action of Silver", slow to burn.

That's funny, I don't know why stacker's are so closed minded? Before you dought the process you should at least do your own research and back test the process. Then your words would not be unfounded. I have had several surprises since joining a stacker forum. 1. Is how many progressives stack silver. 2. How almost 50% don't believe that the central banking elite are taking over the world. And 3rd but not least is how most stacker's rely on fundamentals and not technical analysis!

[boyfromdixie]

i have the best gauge as to when to buy, i look at my bank account if there is any thing extra there i buy silver with it.

[EL34]

(06-11-2012 12:49 PM)boyfromdixie Wrote:  i have the best gauge as to when to buy, i look at my bank account if there is any thing extra there i buy silver with it.

That's a good method that works for well.

It does not matter when you buy silver, as long as you buy it before the rocket takes off or the supplies dry up

You don't need a breakout of a flag formation to know when to buy silver

I am noticing that the supplies at many dealers are dropping quickly which concerns me way more than a chart.

[harbl_the_cat]

(06-11-2012 08:07 AM)slow to learn Wrote:  

(06-11-2012 07:58 AM)EL34 Wrote:  Look, if it makes you happy and you like doing it, that's all that matters.

E, Im just saying that every stacker should invest the time to learn the price action of silver. Learn its ebb and flow, and how price action reacts to the supply and demand zones! This would help every stacker to make buys at the lows of each correction. They will not be right all the time but over all the stacker will profit from this education! And its fun!!!!!!

I agree with this sentiment.

As long as I believe the PM's are in a bull market - which I believe based on the fundamentals, the most important technical analysis for me is silver's price relative to it's 200 day moving average. Simply put, if it's below the 200 day moving average, I will dollar cost average regardless of the price.

For fun, I keep a little extra cash on hand in case the price tests a low from the past year or so which I consider my "all in" point.

I will trade a small amount of my silver for fiat for various other tangibles that I think are decent inflation hedges (ammo, food, land) based on the 200 day moving average (1.5-1.8x were the tops in the 200 day moving average in the 4 big blow off tops in the past).

I will also trade a significant amount of silver for gold at various ratios in the gold to silver ratio (starting at 40, increasing in a bell curve fashion to 10).

Lastly, when gold and silver starts going parabolic, I think we will see monthly price swings of about 40-60%. It will depend on house prices at the time, but I probably will buy some real estate or land at some point.

Average home prices in Canada are about $350k, and a
15% price correction does not seem out landish - if I saw $300/oz silver at that point, I'd swap 1000 oz to pick up some property without a second thought.

I think you go batty buying metals without giving much thought for when you're going to buy and you'll probably miss the big sell opportunity as well.

[Dom2012]

(06-11-2012 12:49 PM)boyfromdixie Wrote:  i have the best gauge as to when to buy, i look at my bank account if there is any thing extra there i buy silver with it.

couldn't be more true.... I've invested all my saving now....so now im just a silver saver, whatever is left at the end of the month goes on silver. whatever the price ....well below about $50 anyway ...

[EL34]

I don't dislike charts, but moving averages and cool looking shapes on charts have nothing to do with situations like Bernanke giving a speech and then there is a big smackdown

Or on Tuesdays for the COTR (commitment of traders report)
Those have been the best times to buy recently

Check out Tuesdays in the past on the charts

Recently, the best time to buy at a low price has been when there is a silly panic because of some percieved event by the masses of sheeple who participate in the markets.

Example: People think Bernanke is going to mention QE3 and so the market goes way up on a friday.

Bernanke gives the speech on a Monday and does not acknowledge QE3 and so market goes way down (which was an great place to buy)

Those sorts of situations have nothing to do with shapes on a chart and moving averages.

[slow to learn]

(06-11-2012 05:24 PM)harbl_the_cat Wrote:  

(06-11-2012 08:07 AM)slow to learn Wrote:  

(06-11-2012 07:58 AM)EL34 Wrote:  Look, if it makes you happy and you like doing it, that's all that matters.

E, Im just saying that every stacker should invest the time to learn the price action of silver. Learn its ebb and flow, and how price action reacts to the supply and demand zones! This would help every stacker to make buys at the lows of each correction. They will not be right all the time but over all the stacker will profit from this education! And its fun!!!!!!

I agree with this sentiment.

As long as I believe the PM's are in a bull market - which I believe based on the fundamentals, the most important technical analysis for me is silver's price relative to it's 200 day moving average. Simply put, if it's below the 200 day moving average, I will dollar cost average regardless of the price.

For fun, I keep a little extra cash on hand in case the price tests a low from the past year or so which I consider my "all in" point.

I will trade a small amount of my silver for fiat for various other tangibles that I think are decent inflation hedges (ammo, food, land) based on the 200 day moving average (1.5-1.8x were the tops in the 200 day moving average in the 4 big blow off tops in the past).

I will also trade a significant amount of silver for gold at various ratios in the gold to silver ratio (starting at 40, increasing in a bell curve fashion to 10).

Lastly, when gold and silver starts going parabolic, I think we will see monthly price swings of about 40-60%. It will depend on house prices at the time, but I probably will buy some real estate or land at some point.

Average home prices in Canada are about $350k, and a
15% price correction does not seem out landish - if I saw $300/oz silver at that point, I'd swap 1000 oz to pick up some property without a second thought.

I think you go batty buying metals without giving much thought for when you're going to buy and you'll probably miss the big sell opportunity as well.

Harble, the 200 ma is a great guage by not getting to technical, you may want to pop up the weekly or monthly pivot points on a chart as well. More time than not pivot points will indicate supply and demand as well as major reversals! If you used the 200 ma and pivot points together you may have a very accurate strategy!