Gold Manipulation

 

 

Trader Scott’s Market Blog

October 11, 2016

 

 

Questions and comments keep coming in when I write about “manipulation” of markets (gold in particular). Many folks believe there are no more free markets, and they can’t succeed in markets, due to all of the rigging. My answer is – all markets have always been rigged/manipulated and they always will be. Most of the rigging is “legitimate” and honest and just based on pure supply and demand. Some of it is dishonest, illegal, and disgusting. My point is we as the “little people” can do nothing about it. We should certainly be aware of it, but instead focus on at least attempting to use it somewhat in our favor, by learning how to anticipate the potential for it to occur and also by learning when it might occur. This is discussed in arecent postand I provide a very short term chart showing the mechanisms at work last week – as the strong hands/manipulators forced gold lower to run sell stops.

But if anyone thinks that running sell stops after “breaking SUPPORT” or running buy stops after “breaking out to new highs” is something new, it is most certainly not. I witnessed thisfirst hand on a constant basis as a floor trader. We really need to understand how/when the running of sell stops takes place – and then learn how to make the “stop runners” help us with our own entry points into markets.
The following quote is from Jesse Livermore, one of the greatest traders of all time, as he himself was one of those “manipulators”. This succinct quote is from about 1920 – that’s 96 years ago. So how is this so-called manipulation considered to be some recent brilliant uncovering by those groups dedicated to this consistent market occurrence. Maybe we need to change our focus. The quote comes from Edwin Lefevre’s wonderful book “Reminiscences of a Stock Operator”:
“It happened just as I figured. The traders hammered the stocks in which they figured would uncover
the most stops, and sure enough, prices slid off.”
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About

img_0074bwcrsmTrader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day.Scott returned to markets over fifteen years ago where he continues as an independent trader.

 

 

 

 

 

'Trader Scott’s Market Blog – Gold Manipulation – October 11, 2016' have 2 comments

  1. October 12, 2016 @ 6:09 am ManAboutDallas

    it’s very simple, really. Most people would rather WHINE than THINK. Thinking HURTS, and we’ve been inculcated as a society over the last 3 generations to AVOID PAIN at ALL COSTS.

    • October 12, 2016 @ 10:09 am traderscott

      Truth hurts doesn’t it.

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