Gold still going up by the way
Updated
The price is at the 1.618 extension which gold seems to sometimes respect, and the bulls were able to defend the small bounce of the past month.
This is the 3 drives pattern trade that I just criticized in my USDCAD idea 😂 but I'm buying for other reasons, the major problem I mentionned (other than absolutely wanting to go against trends being stupid) was the risk reward, and here with the double bottom and other technicals the risk is small.
It is really interesting to compare Gold to Bitcoin that is being bought in the same way for similar reasons.
This is the entire point of this business. A big amount of testicular fortitude is required.
The world is more risk averse and scared than ever (look at covid reactions).
Now is when the world needs bold speculators, which is not the same as dumb gamblers and day traders. Ignorance =/= courage.
I think I will split my buying in 2 with a part going into a knockout turbo on IG with the stop and the other part will be a 1-2 month call with no SL as I can't be too sure of where the stop should be, the price could rapidly fall and get bought up (fake selling climax like Silver and Bitcoin a few months ago).
In any case, limited risk as I am the house, not the gambler.
This is the 3 drives pattern trade that I just criticized in my USDCAD idea 😂 but I'm buying for other reasons, the major problem I mentionned (other than absolutely wanting to go against trends being stupid) was the risk reward, and here with the double bottom and other technicals the risk is small.
It is really interesting to compare Gold to Bitcoin that is being bought in the same way for similar reasons.
This is the entire point of this business. A big amount of testicular fortitude is required.
The world is more risk averse and scared than ever (look at covid reactions).
Now is when the world needs bold speculators, which is not the same as dumb gamblers and day traders. Ignorance =/= courage.
I think I will split my buying in 2 with a part going into a knockout turbo on IG with the stop and the other part will be a 1-2 month call with no SL as I can't be too sure of where the stop should be, the price could rapidly fall and get bought up (fake selling climax like Silver and Bitcoin a few months ago).
In any case, limited risk as I am the house, not the gambler.
Note
I looked at a Citigroup warrant callCommission for under 1000 warrants (<20 ounces) is 2.50 EUR.
Commission for 1000-5000 (20 ounces to 2 lots eq.) is 5 EUR.
I am not very experienced with options I'm no advisor I'm just trying to work it out.
The payout will obviously lower than with having a stop (and precise entry) but then we don't have to worry about fat fingers and random volatility.
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