Trading software

Friday, February 4, 2011

Gold, beautiful gold

The wife's been slagging me about Gold as I was talking about it all week - she reckons I'm getting like the Israelites in the bible (Exodus) who started worshipping the stuff and ended up pissing Moses off when they made a golden calf out of it!

Seriously though, I made a couple of good trades on it yesterday with both accounts and ended up with a few hundred in profit. I was raging a little as I was going to top up my market spreads account and buy some more but didn't bother - but combined with the other account it was still a very good trade.

I had been watching the price for a while and decided to buy when it hit the $1,330 mark. In a few hours, that had risen to $1,355 at which point I sold 75% of it. I think the sudden rise was mainly due to the announcement from Ben Bernanke that the US recovery still needed Fed support.

There's a US payroll report out so the price has eased off and now trades around $1,349.

Really enjoying the trading on Gold and am currently reading a book on commodities as I want to learn more and do more trading on others.

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