What Happens To Gold And Silver Next? Look Out Below?

YUP, any way to PM me, please do....thanks

Hi ilikeikes

Yes this thread with all yups info is an amazing thing and will inspire many in the area of investing.

The financials issue gets to a point here where its way outside the boundaries of this forum.

Joined a financial type forum to get those questions answered and specifically for an Australian.

@ilikeikes

unless you want to lose money, do not be in a hurry to buy any sort of commodities. Corn, wheat, soybeans etc, the entire Ag sector are stuck in downtrends and unless you want to throw your money away, its not worth it.

The moves higher you are seeing are simply counter trend moves, with an overall downtrend and unless you are an experienced intra-day trader, you will not personally catch these moves, they fizzle out just as fast as they appear.

Again, no reason at all to be buying commodities. AT ALL, unless you want to show losses for the fun of it.

You should have your money, balls to the wall, in the equity markets right now (in fact everyone should have been invested since the start of the year), whether it be here in the US or foreign markets. If you are not in the stock market with your money in the strongest sectors, you are missing out on gains.

It never changes, you buy assets at yearly highs, strongest sectors, strongest assets and you either avoid or sell short assets at 52 highs lows. Simple, I been repeating this for over 4 years now and I Still see folks, like Ilikeikes, and dont get me wrong, nothing personal, I like you, not putting you down or trying to make you feel bad, but humans, for whatever reason, always, when it comes to financial markets, are always missing how simple markets are.

Again, you want to be in assets that are hitting yearly highs, strong assets that are up in uptrends. From there you need to decipher what are the STRONGEST assets that are receiving the strongest money flows. Where the most money is moving too, that is where you will get your most gains.

I could go on and on about how to buy, where to buy, but I dont have the time. Just remember markets are dynamic, they are CHANGING EVERY SINGLE DAY. The areas where money moves too changes yearly, monthly, its constantly moving. Some areas have great multi-year runs, others are just starting to go higher, and some trends that started in the start of the year have died and so on.

Unfortunately this forum is not the time and place for this and a few paragraphs or even a few hundred posts on this forum will never help 100% everyone here because markets are changing and my experience, my knowledge is attributed to my thousands of hours and years of seeing patterns, market conditions and scenarios that are constantly evolving. What I see you cannot see and I dont expect anyone to see except fellow traders.

Unless your life is DEDICATED to financial markets and you are knee deep in it, for 10+ hours a day, most of what I say will escape your mind or will sound contradictory to you. Which I mean, thats OK I have ONE job, as I am the one managing my accounts and being profitable, managing RISK, thats my priority, not whether someone doesn't understand how trends work or why they change or why I said one thing last week and now saying something different.

My continued suggestion to you Ike is to just learn and read. The basics never change, after that it comes down to experience in markets, after a certain amount of time, IF one continues at it, you can see what the market is trying to do in any type of asset.

In conclusion, while I might be brash and sound offensive, let me say none should take offense at what I say, its not personal and am NOT trying to pull anyone down.

Just remember I can really care less about what someone says or useless opinions, my concern always, 100%, is to be in line with markets and be correct by them. The market changes, I change with it, simple. IF any asset starts to breakdown after one week of looking good, guess what, if price is saying its breaking down, its breaking down, I flip with the change in price. That is how you thrive and succeed in markets.

If you cannot adopt this sort of mental state in trading, investing in markets, you will be FOREVER LOST.

@ilikeikes

Well, theres a couple ways to locking down profits. However, the question the public has and new traders is, where do you lock them down. That comes down to several things, including time frame.


However, the important thing is ALWAYS take something out of the market, if you have profits. Have an exit plan. As an example- suppose you bought XYZ company and it ran from January all the way to say September and it just kept climbing and in late September, they were set to report earnings. So ok, lets say you are sitting per share, on about 38 points of profit per share. That gives you cushion into the ER. So you hold into the ER and guess what, party over.

The markets reaction to the ER is to trim the stock by 12 points and it drops with heavy volume. That is a very good clue to get the heck out of there and walk away, the run is over for now. Mentally, emotionally you can see that after many months, the market showed its displeasure of the stock over its ER and since the market has kicked it to the curb, so will you without any regret.


In the case of commodities, there are no ERs. You have the frequent reports of supplies like the WASDE reports but really not much from there. As an example, last year I was trading cotton, sugar and coffee.

They were all in nice uptrends in the start. Then they started to just really move wild, with sharp pull backs, almost felt like the trend was fighting hard to keep going, in fact I got stopped out of coffee and sugar and walked away from them and didnt bother to get back in.They did run higher from where I stopped out but what was interested in late 2016, sugar and coffee really imploded lower and coffee is now in a downtrend along with sugar.


Cotton, on the other hand, broke out higher and was much easier to handle the pull backs, they were easy to spot, the pattern and it didnt really start to break down until it had a nice run, from where I closed the trade for a profit.

the point is the nicer the uptrend if you are buying, or the downtrend if you are selling short, it will be very smooth, it will steadily accrue profits. It wont fight you, and gives you a fair amount of time to bail. With gold and silver, last year, we had a nice run up early and even re-tested the break out which held and set up us up for another run higher.

However, from that point on, we broke down and ended up testing the far range. I remember when I started looking at the multi-month charts and I was like "oh here we go again". So that is another suggestion, look at your charts, if an asset in an uptrend is breaking down on say 3 month chart on the daily, thats a good area to say "here is where I draw the line".

Lastly I will repeat myself. ALWAYS HAVE A STOP. NEVER ever start buying and convince yourself you are going for the long term. Have an exit plan. If you dont do these things, All you are doing is locking up yourself in a bad investment and your losses will grow. Its ok to be WRONG, just dont stay wrong. There will always be something else to invest in that will work.

Thanks YUP..and mdpmedia...quick question..I see 2 types of STOPS on my trading account...Stop Market, and Stop Limit..I'll have to read up on these..from what I know, you don't want to lose more than 10% on any new purchase.
The 1 time I tried one of these stops, I got burned...it was a volatile day..in silver...my stop was hit, and, my shares sold...a few hours later, the stock went back up, and had good gains for the day..I was beyond bummed, and have not figured out how to do this properly since. I will read up in investopedia now, and do some homework.
I also know, it can be a fair amount of "work"(if you can really call it that, half-joking here), on an up-trend market...daily, or, every other day, wouldn't you need to continually raise your stop level, as price goes higher?

Thanks..good stuff

So again not much to see here-

silver continues to implode, selling has accelerated. Lost that LOD from yesterday and a big break down here in a multi-month time frame. That said, look at how many days it has been down, at some point a counter trend bounce is coming. Silver tho, is just way too sloppy, choppy, wild, all over the place and not defined.

Gold, looking better tho still falling but its more defined here. The 1240s are coming into support. See if this area holds. I Still like gold over silver in terms of price action.


Finally, any day now all the doomsayers should be coming out, talking about 12 dollar silver, 800 gold, etc, you know who you people are. Trying to front run price, trying to predict commodities, especially when we have been subjected to the pattern of "come to the edge of the cliff and bounce" and the "big break out, followed through and then fail" in gold and silver has made a total fool of those who come out of the wood work when we get to these points.

Maybe this time gold and silver really down break down and smash all the way down to fresh yearly lows, breaking the uptrend. Maybe gold and silver once again hold here and bounce and run higher. Who is to know? Whats wiser and better to do is just watch and patiently follow price. If it makes yearly lows, so what, who cares. I know I have no no race in this horse in regards to gold and silver.