Trading software

Thursday, May 24, 2012

Is it a good time to buy gold?

I've been keeping an eye on the price of gold lately with the thoughts of getting back in. It's been a while since I sold my gold and it's a commodity I've done fairly well out of in the past two years.

At the moment, it's costing around $1555 an ounce but with more and more uncertainty in the markets, I have a feeling it will rise as people return to the safe haven metal. The Euro is looking fairly weak but if we get any bad news from the US, it could see people buy gold again. Actually, the Euro hit a 22 month low against the dollar last night. I don't have an open position on that at the moment but generally, I'm bearish on the Euro against the dollar.  I might buy a small bit of gold soon and scale in over the next few weeks if the price holds. Monthly gold chart:

I mentioned Facebook shares the other day and that's proving interesting - a mate of mine sent me a good article yesterday which sums up where the IPO went arseways - worth a read:

Another interesting story is Dell - shares fell off a cliff yesterday and lost 18% of their value. It's funny, because they used to be so big, including Ireland. At one time, that was the first place I'd look for a new computer but come to think of it, I don't think I even checked Dell when I bought my new laptop a couple of months ago. They just seem to have gone off the radar. I know one or two people who work for them so I hope they recover somewhat.

Didn't get to trade on Betfair yesterday evening - I came home to discover that my daughter had bought a trampoline out of her Communion money. As Miley from Glenroe might say, "Well Holy God". It took all evening to put the damn thing up. And it takes up half the back garden. Rain, shine, snow or ice, she'll be playing on the fecking thing. 

Regarding the form study, I'm still in profit (about 7pts) but it's hard work and I'm wondering if it is worth it. I'm up at 6.30 most mornings to put in the work but the returns are small. I've about 270 bets under the belt so I'll keep going to 300 and then do a review and maybe tweak a few things. Perhaps I can make it more profitable with a few minor changes. I'll have to do something though - out of all the betting and trading I do, this takes up the most time. As you can see, it got a great start and then plummeted. It's recovered somewhat but I haven't made any money off it in a while:

But I'll keep going for a bit and then do a review and see. Here's today's bets anyway:

The inplay trades have been bouncing up and down but going nowhere in the past few days. It's better than losing but now that I've gone past the 400 trades mark, I think I'll have another review. I'm still confident that there is something good in this despite the fact that the profit has declined recently. I'll take a look at prices again and maybe a few other things. Here's today's inplay trades:

Finally, the Dutching is going OK and I'm about halfway through the trial. It's about 6pts in front after 48 bets so I guess I should be pleased enough with that.

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