Thinking about taking major risks on Gold and USD/CHF

[davidh1819]

Hello People

I am contemplating as to wether this is a good idea or not.

I currently trade FX and trade like I have been told by many authors of books I have made a simple robust strategy with a 2% risk to 4%-6% profit ratio I make on average 5% return a month give or take.

but a fancy something new a high risk high return gamble

After hearing all the news about Gold and the Value of the dollar I am thinking about opening a spread betting account withdrawing some savings and open a large short position on USD/CHF and a large long position on Gold and risk all 100% of my SB account on these positions but open the positions on a very long time frame and keep the positions open for many month even years if possible. If the markets continue the way they are going for time to come I could make some very large gains. if I lose I lose besides I will continue to trade my FX account as normal.

Would anyone recommend me doing this?

Please advise

 

[YouAreNotFree]

The metals could get whacked when the debt ceiling issue is resolved imo.

It should be the other way around, but its a crazy world.

 

[counter_violent]

Hello People

I am contemplating as to wether this is a good idea or not.

I currently trade FX and trade like I have been told by many authors of books I have made a simple robust strategy with a 2% risk to 4%-6% profit ratio I make on average 5% return a month give or take.

but a fancy something new a high risk high return gamble

After hearing all the news about Gold and the Value of the dollar I am thinking about opening a spread betting account withdrawing some savings and open a large short position on USD/CHF and a large long position on Gold and risk all 100% of my SB account on these positions but open the positions on a very long time frame and keep the positions open for many month even years if possible. If the markets continue the way they are going for time to come I could make some very large gains. if I lose I lose besides I will continue to trade my FX account as normal.

Would anyone recommend me doing this?

Please advise

With the leverage available via spreadbet, there is no need to be talking about opening large positions. Try opening small positions...u'll be amazed how much money can be made just using a fiver here and there.

 

[wackypete2]

With the leverage available via spreadbet, there is no need to be talking about opening large positions. Try opening small positions...u'll be amazed how much money can be made just using a fiver here and there.

or lost.... Please, please, please do not blow your entire account because you got the direction wrong. You will never forgive yourself and the emotional distress you cause will take eons to fix.

Just my opinion, but it's good advice.

Peter

 

[BeginnerJoe]

Go for it. There's only one way to win or to learn. Both are beneficial.

 

[bedsit]

Go for it. There's only one way to win or to learn. Both are beneficial.

I don't think it's good to follow this advice. BJ is a master trader and he knows his fruit, but for others could be quite dangerous to follow the same route.

PS BJ keeps his system secret by using various metaphors.

 

[Prainluda]

Just something to consider. I HAVE NOT done research on this but I was reading something from a guy who works for AEG and he says they are going long term on the american dollar to strengthen.

That was very recently even with the American debt default coming up. They "AEG" were betting on the american dollar to rise.

Take it for what its worth. The guy seems very reliable

 

[trader_dante]

After hearing all the news about Gold and the Value of the dollar...

In light of your above post I would be considering a high risk/high return short position in Gold and long in USD/CHF, in my opinion.

Although it would probably pay to for wait for more bullish Gold and more bearish Dollar sentiment and then take small positions with an aim to stacking.

 

[anley]

The Sterling trade might work but have you looked at the long term chart?

If you have you'll see you're coming very very late to the party, so much so that the odds are well against you.

The time to short that market was when nobody was talking about it, but now because the market has moved so much lower many people are now on to it and saying it will go yet lower. Therefore the better trade is probably to buy it...........

 

[anley]

I spoke about Sterling above against the Swiss, but it's the same pattern against the USD.

 

[BeginnerJoe]

The guy seems very reliable

But, is he rich ? You should not take advice from a poor guy.

 

[wackypete2]

But, is he rich ? You should not take advice from a poor guy.

Then why should he take your advice?

Peter

 

[Pazienza]

Then why should he take your advice?

Peter

Joe is rich though. To such an extent that from what I hear, niggaz want to stick him for his paper.

 

[scose-no-doubt]

They obviously heard about the rolexs and the lexus. Probably him mums flat too. 5th corridor If i remember correctly. Very swanky.

 

[JRP2891]

Hello People

I am contemplating as to wether this is a good idea or not.

I currently trade FX and trade like I have been told by many authors of books I have made a simple robust strategy with a 2% risk to 4%-6% profit ratio I make on average 5% return a month give or take.

but a fancy something new a high risk high return gamble

After hearing all the news about Gold and the Value of the dollar I am thinking about opening a spread betting account withdrawing some savings and open a large short position on USD/CHF and a large long position on Gold and risk all 100% of my SB account on these positions but open the positions on a very long time frame and keep the positions open for many month even years if possible. If the markets continue the way they are going for time to come I could make some very large gains. if I lose I lose besides I will continue to trade my FX account as normal.

Would anyone recommend me doing this?

Please advise

If you get lucky it'll only reinforce bad habits and you'll lose it all anyway in the end when you try it again. This is probably not what you want to hear though.

 

[Prainluda]

If you get lucky it'll only reinforce bad habits and you'll lose it all anyway in the end when you try it again. This is probably not what you want to hear though.

The guy from AEG is rich. He lives in LA and his company has a private box at the staples center.

Anyways I could care less what happens. All im saying is a guy who works for AEG a HUGE company that seems to know what their doing are betting on the american dollar thats all.

 

[JRP2891]

The guy from AEG is rich. He lives in LA and his company has a private box at the staples center.

Anyways I could care less what happens. All im saying is a guy who works for AEG a HUGE company that seems to know what their doing are betting on the american dollar thats all.

That's nice for him.

 

[brewski1984]

I considered almost the same thing. Everyone seems to be "investing" in Gold, seems like you can't go wrong. Even had 2 or 3 shops open up recently near me that buy any Gold you take in.

Bubble's gotta burst somewhen though surely?

 

[BeginnerJoe]

When every noob is buying gold, it is time to sell.

 

[brewski1984]

That was also the other thought I had and probably the reason I haven't done it. Doesn't make me any less of a noob though!