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XAU/USD & XAG/USD - Gold & Silver Traders Thread

  • #3,861
  • Mar 24, 2011 3:13pm Mar 24, 2011 3:13pm
hi suntrader,
if you are still around could you please post your analyse
thank you
  • #3,862
  • Mar 24, 2011 3:13pm Mar 24, 2011 3:13pm
Quoting quyenpt84
I dont understand why gold move down so quickly like that. I have the long position at 4500. God blesses me!
fortunately god doesn't get involved in the precious metals market (or anything else as far as i can see), nor does luck.....if you want to be a trader rely on price and nothing else. you screw up you have nobody else to blame.....

please learn before you lose more



beeb
  • #3,863
  • Mar 24, 2011 3:14pm Mar 24, 2011 3:14pm
Quoting beeb
look at your screen.....

seriously, call options sellers do not want buyers to exercise - they ensure this by taking the metals down.....all part of the great metals conspiracy

beeb

Speaking of conspiracy theories... JP Morgan is now a vault for precious metals, so now they can take delivery of their Silver shorts to themselves vs. having to deliver to the COMEX. Crazy.

http://seekingalpha.com/article/2595...-silver-shorts
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #3,864
  • Mar 24, 2011 3:14pm Mar 24, 2011 3:14pm
hi lasvahgoose how are you doing?
  • #3,865
  • Mar 24, 2011 3:20pm Mar 24, 2011 3:20pm
and to add to the excitement cme has changed the margins for silver......

beeb

they are desperate to provide us with good long entries lol
  • #3,866
  • Mar 24, 2011 3:37pm Mar 24, 2011 3:37pm
I am fairly new to metals trading...can you recommend the best broker to trade them? possible including micro lots.

thx
  • #3,867
  • Mar 24, 2011 3:42pm Mar 24, 2011 3:42pm
Quoting CoolPips
I am fairly new to metals trading...can you recommend the best broker to trade them? possible including micro lots.

thx
http://fxtrade.oanda.com/

Allows you to trade as little as 1 unit.

Wile E
  • #3,868
  • Mar 24, 2011 3:52pm Mar 24, 2011 3:52pm
Quoting riko2705
hi lasvahgoose how are you doing?
Funny you should ask... I had 2 short term trades LONG gold, but I only set a TP on one of them (totally rookie mistake). TP on one trade @ 1445 and well you can imagine how the 2nd one is doing. Haha! No worries though, I get test out my skillz on some minor damage control.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #3,869
  • Mar 24, 2011 3:55pm Mar 24, 2011 3:55pm
Quoting Wile E
http://fxtrade.oanda.com/

Allows you to trade as little as 1 unit.

Wile E
Thanks mate.
  • #3,870
  • Mar 24, 2011 4:11pm Mar 24, 2011 4:11pm
Thanks for the infos, guys. I just got long with 28oz, so it seems that it doesn't make sense to keep them in the long term, since this "op ex" will probably kill them on Monday, the latest. I'm just $0.30 away from the TP now!

@LasVah: yes, I was reading that about JPM today. That's the kind of information that... I don't know... it is really interesting, but is it really useful for a retail trader? Either it means that JPM got a weapon of mass destruction and there is no way to make "good" money buying gold/silver (they will short everything)... or it's quite the opposite, they will fail and our longs will be extremely profitable. At the end, maybe it doesn't really make a difference on a daily basis, during our trades. We will keep making some pips and they will keep damping the prices. That's the only sense I can make out of it.
"The reason I was born and came into the world is to testify to the truth."
  • #3,871
  • Mar 24, 2011 4:20pm Mar 24, 2011 4:20pm
Been out all day! Nice new Highs and now some dip... I don't think this is over yet.

Here are the real highs and lows so far today
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,872
  • Mar 24, 2011 4:27pm Mar 24, 2011 4:27pm
Quoting LasVahGoose
Funny you should ask... I had 2 short term trades LONG gold, but I only set a TP on one of them (totally rookie mistake). TP on one trade @ 1445 and well you can imagine how the 2nd one is doing. Haha! No worries though, I get test out my skillz on some minor damage control.
ı wish you all the luck in the world
scared and dumped my long at 1439
ı dont want you to be alone there ım getting aboard right now at 1430
ı am still thinking that we can see 1500 before 1250
have good days sir...
  • #3,873
  • Mar 24, 2011 4:35pm Mar 24, 2011 4:35pm
Quoting LasVahGoose
Well, one way to look at is this (...)
I don't know, I'm not really good at the fundamental stuff. Who knows what it all really means in the end.

I still think we will see a sizable correction because Silver has gone parabolic, but after that sky's the limit or at least 50.
I also see JPM in this way. Of course it's criminal, but I see it as part of the game. It shouldn't affect us anyway. (That's coming from someone who loves fundamentals. I believe nobody can get the whole picture of the market. Not even JPM. They suffer from their own poison.)

Talking about manipulations and corrections, so far I got 3(!) possible reasons for today's correction:
1) profit taking (the usual suspect)
2) CME raised margin requirements
3) option expiration is coming - the record-high came too close to the deadline, so the sell-off had to start immediately, otherwise it could be too late to bring gold and silver to "acceptable" levels.

For the newbies: http://gold.goldprice.org/2011/02/go...ns-expiry.html

I'm loving this "crash course" on precious metals
"The reason I was born and came into the world is to testify to the truth."
  • #3,874
  • Mar 24, 2011 4:38pm Mar 24, 2011 4:38pm
16 bucks off the high, may be an entry here....

Silver 38 bucks
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,875
  • Mar 24, 2011 4:40pm Mar 24, 2011 4:40pm
Certainly some profit taking. We are closing in on the end of the month and a few eager shorts looking for a quick trade.

The real new high has not occurred yet.

I would bet any trader at JPM holding a short from the 20's 18 bucks north is fired. Silver has been undervalued for some time now.
Partially and mostly due to price manipulation. Once the top blew off at 21 / 22 look at what happened. We are now averaging a dollar move a day.
Silver used to move 50 cents on a Great day.

$50 is a reasonable achievable mid term target. When we hit $100 then we are going somewhere!!!!!!!

Quoting harvest3r
I also see JPM in this way. Of course it's criminal, but I see it as part of the game. It shouldn't affect us anyway. (That's coming from someone who loves fundamentals. I believe nobody can get the whole picture of the market. Not even JPM. They suffer from their own poison.)

Talking about manipulations and corrections, so far I got 3(!) possible reasons for today's correction:
1) profit taking (the usual suspect)
2) CME raised margin requirements
3) option expiration is coming - the record-high came too close to the deadline, so the sell-off...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,876
  • Mar 24, 2011 5:09pm Mar 24, 2011 5:09pm
just remember folks - there is always another trade out there. if you are not as certain as you can be of your entry and exit then it might be wise to sit it out....am travelling tomorrow so won't be trading, though will be leaving stink bids just in case....
good trading all

beeb

and another bit of advice - you really have to know your market. i suggest you spend some time reading around, finding out what really makes the precious metals markets tick. for example how many people know about the gold traded as spot in London - it dwarfs Comex....
  • #3,877
  • Mar 24, 2011 5:34pm Mar 24, 2011 5:34pm
Quoting beeb
just remember folks - there is always another trade out there. if you are not as certain as you can be of your entry and exit then it might be wise to sit it out

beeb
Such a true statement, wait wait wait and then pounce when all the stars align!
  • #3,878
  • Mar 24, 2011 6:35pm Mar 24, 2011 6:35pm
Quoting highlander2
Such a true statement, wait wait wait and then pounce when all the stars align!

thank you highlander
and what's more i got message number 4000....................................

beeb
  • #3,879
  • Mar 24, 2011 9:45pm Mar 24, 2011 9:45pm
Silver has recovered $.50 from yesterday's low...Maybe it is another sculping opportunity for shorting silver now.
  • #3,880
  • Mar 25, 2011 6:41am Mar 25, 2011 6:41am
Quoting jazzmeow
Silver has recovered $.50 from yesterday's low...Maybe it is another sculping opportunity for shorting silver now.
Short silver? Are you sure?

$0.50 in silver is only background noise, anyway.
"The reason I was born and came into the world is to testify to the truth."
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