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The Commodity Trading Forum is a presentation of |
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Free Commodity Chart Service |
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The Commodity Trading Forum is a presentation of |
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Free Commodity Chart Service |
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Commodity Trading Discussion Forum
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Re: Gold/ Decision Time/Lee
Posted By: Trades In Response To: Re: Gold/ Decision Time/Trades (Lee)
Date: Sunday, 1 November 2009, at 9:45 p.m.
When I started trading technically and more seriously in the late 70s the Canadian brokerage house traded stocks, options and futures and my stock broker would let me know if stocks were the best place to be or would transfer me to the futures trader as the futures would be a better place comparatively. Each one gets overbought or oversold from time to time. So I learned to use both as one will get out of whack relative to the other. Risk control is what it's all about regardless and if one is going to survive this has to be job #1. Now with all the ETFs available without the long list of futures landmines I really can't see trading futures contracts compared to ETFs. ETFs cover so many commodities and combinations without the extreme leverage and problems and lots of volume. With Copper FCX tracks it well and even has a higher beta than Copper with 15-20 million shares traded per day. Plus options on FCX to boot that can be bought or sold. Same with Gold or Crude or most everything else. Doesn't mean it's right or wrong but it is far less risky to trade this type of thing than futures. And all this can be done in a stock account. My retirment account can also trade these plus bear ETFs and not pay any tax on profits as well until the day I begin drawing money out which will be when I have little income and very old. But to each his own. Right now DX is about to either breakout and run to where ever or hit resistance and roll over and continue the bear trend and that alone will determine most market's direction despite all the b.s. stories on why and what. If DX breaks pay attention to strength in other markets that may hold up in the face of this which will tell you underlying strength. So far GC is holding up exceptionally well with DX bouncing back. So is Copper. And FCX Freeport Macmoran is too but these are backing off and not at solid support levels yet. Need to see what DX is about to do to determine money flows. Until then it's a coin flip.
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