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

  • #19,421
  • Jun 19, 2012 12:11pm Jun 19, 2012 12:11pm
yes you will!

Quoting w0lv3n
long @ 1618 on second test. Figure it will probably test it again before nights end, we will see i guess.
  • #19,422
  • Jun 19, 2012 12:17pm Jun 19, 2012 12:17pm
Quoting XTrade
Good to see you back brotha.


XT
Back Sunday night with a couple of charts that got .... zippo ... comments.

But at least the distracting chatter has been cut down - a little.
  • #19,423
  • Jun 19, 2012 1:16pm Jun 19, 2012 1:16pm
http://lessons.tradingacademy.com/ar...n-brainwashed/
  • #19,424
  • Jun 19, 2012 2:25pm Jun 19, 2012 2:25pm
Quoting beeb
In case anyone is interested in the methodologies involved in forks or in some analysis of the metals markets, Paul Coghlan is hosting a webinar next week. Highly recommended.........

www.coghlancapital.com/node/3767

beeb
Great webinar.

Thanks beeb!
  • #19,425
  • Jun 19, 2012 3:45pm Jun 19, 2012 3:45pm
Great! Thanks!


Quoting jaimini
http://lessons.tradingacademy.com/ar...n-brainwashed/
  • #19,426
  • Jun 19, 2012 3:53pm Jun 19, 2012 3:53pm
Quoting HotBiscuits
Stop speaking asif your never-ending bullrush claims are gospel, noone in this thread, you included know what is going to happen with absolute accuracy.
I agree HB. X, your loyalty to the Gold bull is commendable, but you've got to see both sides. This is the same kind of thing last week - and then sunday night... boom right down to 1604.

Quoting Sreym33
I am expecting a move back up to test resistance around 1623 and then down to 1600 or slightly lower before moving up past 1635 sometime next week.
Quoting XTrade
Agree a test back up to 1626 yet in the same session depending on how wild we get today, I don't see a fall to 1600.
We all know you are good trader, but sometimes your ultra-bullishness makes me re-think my own ideas and then I close a short just slightly into profit and it drops. That happened twice to me about 6 months ago so I have learned not to listen too close, not just you, but anyone.
  • #19,427
  • Jun 19, 2012 5:17pm Jun 19, 2012 5:17pm
is anyone here trading XAU/USD Spot with a real account?? what are the minimum lote size your broker provides you ?
  • #19,428
  • Jun 19, 2012 5:50pm Jun 19, 2012 5:50pm
For anyone interested, the recording of Paul Coghlan's metals webinar based principally on forks should be available here:

http://www.coghlancapital.com/node/3767

beeb
  • #19,429
  • Jun 19, 2012 5:53pm Jun 19, 2012 5:53pm
That's odd, I will look back at your charts.

Ahh yes, a bit of peace.

He is on another thread now.

Quoting SunTrader
Back Sunday night with a couple of charts that got .... zippo ... comments.

But at least the distracting chatter has been cut down - a little.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,430
  • Jun 19, 2012 5:57pm Jun 19, 2012 5:57pm
I trade GOLD bullishly,

Until I see a worthwhile short I will only scalp short.

Now, whatever "gospel" you are speaking of I don't know.

My posts are backed by charts, TA and Fundamental analysis.

BY THE WAY WHERE DID THE PRICE STOP???

1618 as aforementioned. Sometimes you do know.

You don't like it ? take a f-ing hike.

P.S. We are - 300 from a record high, I'd say overall that's bullish.


Quoting HotBiscuits
Stop speaking asif your never-ending bullrush claims are gospel, noone in this thread, you included know what is going to happen with absolute accuracy.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,431
  • Jun 19, 2012 6:05pm Jun 19, 2012 6:05pm
These are good points, and I respect you and them.

As just explained I trade gold BULLISHLY for multiple reasons.

I also base most of my analysis off of the weekly chart.

10 or 20 USD price swings are of little significance to me in the scheme of things unless I am scalping with multiple lots.

What may be right for me, may not be for you or the others.

I have never said no one should short gold. But, as a position trade it is simply just not there.

People that hold positions say quarterly or even yearly are long from 1100, 1300 etc. Now where is a short from 1800? 200 USD trade. Nice, but where's it going? we are creating a floor around 1600 and the weekly channel RISING from 2008 is still intact.

Thus, I remain bullish.

The Eurozone is in turmoil, the USD is shit, we are at war, every other day another country needs a bailout, banks fail all the time, this is gold positive.

When there is a major shift in certain things such as QE and UNEMPLOYMENT perhaps there will be a bearish shift in gold, these things to me seem far away.

You are all free to post your ideas, you don't need to agree with me.

I trade what I see and what makes me money and that is it my friend.

Quoting Sreym33
I agree HB. X, your loyalty to the Gold bull is commendable, but you've got to see both sides. This is the same kind of thing last week - and then sunday night... boom right down to 1604.





We all know you are good trader, but sometimes your ultra-bullishness makes me re-think my own ideas and then I close a short just slightly into profit and it drops. That happened twice to me about 6 months ago so I have learned not to listen too close, not just you, but anyone.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,432
  • Jun 19, 2012 6:10pm Jun 19, 2012 6:10pm
You need to be aware of the longer term to trade the short term.

I suppose some think this chart is bearish?

There are reasons behind this exponential growth, looks a lot like the correction in 09 to me....

http://www.kitco.com/LFgif/au00-pres.gif
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,433
  • Jun 19, 2012 6:15pm Jun 19, 2012 6:15pm
Quoting XTrade
10 or 20 USD price swings are of little significance to me in the scheme of things unless I am scalping with multiple lots.

The Eurozone is in turmoil, the USD is shit, we are at war, every other day another country needs a bailout, banks fail all the time, this is gold positive.
In an earlier post you said you try to grab 50 to 300 price moves. i try to grab 10-15 a day so what is little significance to you is my bread and butter. i dont have the patience for larger moves unless of course they happen in a few hours. the shorter time that my cash is in the market is better for me, I can be done my trading in 2 hours after US market open. Call it scalping but i take my profit and get out, and my equity curve rises!


Also, I agree with you about all of the gold positive stuff...
all the best to you.
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  • #19,434
  • Edited 6:38pm Jun 19, 2012 6:19pm | Edited 6:38pm
Quoting HotBiscuits
Stop speaking asif your never-ending bullrush claims are gospel, noone in this thread, you included know what is going to happen with absolute accuracy.
Just for you. Market's can do anything, that is why we prepare ourselves with the means of technical and fundamental analysis.

BTW, when I started this thread we were toying with 1050, we since then hit
1920 and now rest around 1600 zone. A 900 USD move even with a mini lot is a phenomenal - low stress - no work - position trade.

Oh my god the chart moved 10 bucks down on profit taking before the FOMC let me kill myself. Please.

Quoting XTrade
Fifth: NO maybe to the H4 Trend line 1618 appx.

Then bounce.
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,435
  • Jun 19, 2012 6:34pm Jun 19, 2012 6:34pm
If I am scalping or day trading i do the same.

Sometimes a 400 pip day (FX) can be achieved in an hour and the day is over.

Scalping a 10 usd move with multiple lots is a good catch, however after several years of trading gold physically and via paper I do not always have the patience to sit and wait for that right swing.

I have begun to lean more towards position trading. This is why I use multiple brokers one suited for each purpose.

Your margin is also different than my US account. I now have to trade gold at a 1:1 leverage ratio. Meaning to take 1 micro lot I need to put up appx 1618 in margin.

This is part of the reason as well. Position trading is less stressful, you don't need to be tied to the screen everyday, just check in. and the profits are far bigger.

Now that I have regained the ability to trade a foriegn account I can reap some of the benefits that you can by scalping and day trading.

Most US brokers do not even offer gold.

BTW. Copper can be traded by a (non US) broker that offers CFDs. contracts for difference or "spread betting"

Perhaps this helps you understand a bit better of what my main motives are.

Below are some examples of low stress buy and hold positions in an area I consider to be safe now.

Quoting Sreym33
In an earlier post you said you try to grab 50 to 300 price moves. i try to grab 10-15 a day so what is little significance to you is my bread and butter. i dont have the patience for larger moves unless of course they happen in a few hours. the shorter time that my cash is in the market is better for me, I can be done my trading in 2 hours after US market open. Call it scalping but i take my profit and get out, and my equity curve rises!


Also, I agree with you about all of the gold positive stuff...
all the best to you.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,436
  • Jun 19, 2012 6:47pm Jun 19, 2012 6:47pm
Nice!
  • #19,437
  • Jun 19, 2012 7:47pm Jun 19, 2012 7:47pm
mimicked position trades can now be seen at the new trade explorer that should appear at the top of the thread.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,438
  • Jun 20, 2012 2:06am Jun 20, 2012 2:06am
Quoting beeb
For anyone interested, the recording of Paul Coghlan's metals webinar based principally on forks should be available here:

http://www.coghlancapital.com/node/3767

beeb

Very informative webinar. Many thanks for sharing.
Education has its reward, ignorance has its price.
  • #19,439
  • Jun 20, 2012 3:50am Jun 20, 2012 3:50am
http://3.bp.blogspot.com/-TpPWFzoGll...+2009-2012.png
  • #19,440
  • Jun 20, 2012 4:09am Jun 20, 2012 4:09am
Quoting gulii
http://3.bp.blogspot.com/-TpPWFzoGll...+2009-2012.png
I found http://www.forexcrunch.com/wp-conten...-June-2012.pdf
quite informative.

and linking above with current situations, QE3 announcement is less likely today as well
so will we see another dive to 1560-1570 today ?
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