Naked Chart Based Trading PRM style "LESS IS MORE"

Potential upside into close

 

I see Gold at $1200, 1164 now, according to my criteria stop ought to be 1152.

 

Start of 2 day FOMC today, so will monitor for a bit, if I see something I like I MAY do something about it

 

And here comes BREAKOUT! Didn't see any pattern, obviously FOMC is the trigger

 

Managed to hold the low.

 

Gold idea was blown out the water

Quick note about edges, earlier on I offered a wager to Hampton aka Surfer, he said DJIA 18000 before it hits 20300. I immediately offered a wager as it would have been a risk free bet. Here's the juice:

Betting on DJIA hitting 20300 before 18000 I had a clear advantage, as my gain would have been substantially greater than a loss, the opposite would have been for Hampton. But what I was going to do is bet him $500 to see 20300 first, at the same time I'd have hedged the bet by actually going short via a spread bet positioning so that my stop of 20301 would have been equal to the $500 wager. If I was to win, then Hampton would have covered my stop, if I was to lose the wager then I'd have lost $500 to Hampton, but my hedged bet would have roughly made x4 that waged amount. Shame he limited the wager to $100 and also raised his target to 18999.

 

Wow, that's low-rent -- 'hedging' 'a $100 friendly wager. Do you also hedge your cab fare? Your Starbucks latte?

 

You telling me off?

 

Betting on DJIA upside now.