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

  • #1,901
  • Nov 5, 2010 6:51am Nov 5, 2010 6:51am
how much leverage are you using , what is standard for commodities. maybe we should all go high with 400 leverage
  • #1,902
  • Nov 6, 2010 12:05am Nov 6, 2010 12:05am
You cannot trade futures with 400 to 1 leverage.

Also this is a sure fire way for any one new to gold trading to "rinse" "wipe out" "blow up" an account.

New US guidelines for Retail FX is fifty to one.
80
Some large banks only trade with a max of 30:1

so why trade with anything more than 100? which is high.

Gold futures require more margin anyway, yet the spread is normally "a tick"/
not 50 cents.

1400 ALMOST HIT ON SPOT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Silver is ON FIRE as well ! Platinum cooking towards 1800 - believe it or not but in 2008 it hit the high 800s.... So in 2 years you got 100% profit on a buy. NOT BAD!

Palladium is at all time highs!

Keep in mind when the Greenback rears its ugly head the metals will take a dive. For now BID BID BID AND BID THEM UPPPPP

Quoting Eren10
how much leverage are you using , what is standard for commodities. maybe we should all go high with 400 leverage
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,903
  • Nov 6, 2010 4:43am Nov 6, 2010 4:43am
Quoting XTrade
You cannot trade futures with 400 to 1 leverage.
Some offer 200 leverage, and maybe even 400 at iforex.com. but for now it is absolutely to risky to use high leverage.

I bought silver with only 6 leverage but at mine bank. I am more positive about silver than gold, maybe the ratio can go to 1:33. the banks does not offer higher leverage maybe max around 15.

But the problem is how to handle the stress .
  • #1,904
  • Nov 6, 2010 8:39am Nov 6, 2010 8:39am
Quoting Eren10
Some offer 200 leverage, and maybe even 400 at iforex.com. but for now it is absolutely to risky to use high leverage.

I bought silver with only 6 leverage but at mine bank. I am more positive about silver than gold, maybe the ratio can go to 1:33. the banks does not offer higher leverage maybe max around 15.

But the problem is how to handle the stress .
For sure it's all about bankroll management
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #1,905
  • Nov 6, 2010 11:17am Nov 6, 2010 11:17am
Quoting Eren10
Some offer 200 leverage, and maybe even 400 at iforex.com. but for now it is absolutely to risky to use high leverage.

I bought silver with only 6 leverage but at mine bank. I am more positive about silver than gold, maybe the ratio can go to 1:33. the banks does not offer higher leverage maybe max around 15.

But the problem is how to handle the stress .
no stress at all, if you are so brave for 200 or even 400, than risk, but don't forget to find a REAL salary job to start all from 0. Live will not end at all - that's how one of my friends says after he blown his acc (but at the day he lose, he called my crying like a child and drunk). Ugly story, but not mortal. So, have fun, life is a quest, keep your karma positive.
No crystal ball. I read the cards.
  • #1,906
  • Edited 9:16am Nov 7, 2010 8:34am | Edited 9:16am
Quoting auxesis
Silver's headed to 27.56, 30.25 possible before the end of the year....... 36.00 very top side

Gold 1444 possible 1690 by year end
I hear ya with the train north.
However, I will be watching curriences to help with identifing the turn around.
Just as last year, they told us nov. 29 and I sold around the the 2 or 3rd of dec. and posted that Id be buying where india bought there tons at 1040 area.
As the new yearly timeframe was underway, what I was using as silvers yearly pivot, (trend bias point) was 16.03 area.
I continued my heavier buying of physical from that point.
For some reason I find trading silver and gold easier and more relaxing than the curriences.
Im watching these 2 a little closer of late, day to day , good to hear from ya,why dont you stop by and help keep an eye on direction.
  • #1,907
  • Nov 7, 2010 9:50am Nov 7, 2010 9:50am
Do any of you guys trade off gartley patterns? The bearish butterfly is forming on the gold/dollar 4 HR chart:

Attached Image (click to enlarge)
Click to Enlarge Name: bb1.png Size: 39 KB


eerily similar to the one that just completed on eur/usd.

Attached Image (click to enlarge)
Click to Enlarge Name: bb2.png Size: 43 KB


Search for "korharmonics" in google for a free metatrader gartley indicator.

The right portion of the red "butterfly wings" has what is called a decision box at the end. This is the price range forecasted by the indicator. The box is your support/resistence area. And oftentimes like this one, price won't even make it to the lower end, it will just quickly collapse like it did on the euro before stabilizing. You have to be careful though and wait for the price to break before placing an order based on this logic, because the decision box can move up if there's a rally and basically redraws itself at a higher level. That is why I also will use a movinge average cross to filter out some of the noise (arrows), as well as a paid template made by one of the commercial threads on FF to measure mometum (not pictured).
  • #1,908
  • Nov 7, 2010 10:42am Nov 7, 2010 10:42am
Quoting lilpip
I hear ya with the train north.
However, I will be watching curriences to help with identifing the turn around.
Just as last year, they told us nov. 29 and I sold around the the 2 or 3rd of dec. and posted that Id be buying where india bought there tons at 1040 area.
As the new yearly timeframe was underway, what I was using as silvers yearly pivot, (trend bias point) was 16.03 area.
I continued my heavier buying of physical from that point.
For some reason I find trading silver and gold easier and more relaxing than the curriences.
Im...

Buying physical is much easier, buy on dips and HOLD! And sadly watch as it's an inflation hedge.

Correlating markets is spot on, (pardon the pun). Another forum, a while ago, I use to watch a guy trade using several different markets to time each other, it seems they are all inner-connected anymore.

I've been looking for a nice pullback to purchase some more silver mainly, still waiting, lol.

Have been very busy lately, but will try to make this thread more often.

Regards,
  • #1,909
  • Nov 7, 2010 1:04pm Nov 7, 2010 1:04pm
I do use Gartleys on currencies.

However, I feel due to Gold being a "quasi-currency" AND a Commodity trading the "techs" doesn't always work out the way one may think.

Jobs reprt was better than expected. Yet we the QE2 is real and over expectations as well... We did just make a new high so there is the threat of some corrective weakness for the coming week.

Let's see!

Thanks for the post Blud!
X

Quoting Blud4oilPrgm
Do any of you guys trade off gartley patterns? The bearish butterfly is forming on the gold/dollar 4 HR chart:
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,910
  • Nov 7, 2010 1:24pm Nov 7, 2010 1:24pm
Quoting lilpip
looking at silvers weekly chart and areas of extra interest
25.18
24.15
23.12
last week she came back down to the 24.15 area, as she tested for support we watched other currencies, gold, while she was in that area and they told us to add to them as they all made a move back up.
this week
27.55
25.51
23.47
  • #1,911
  • Nov 7, 2010 1:26pm Nov 7, 2010 1:26pm
Always good to lok at alternate viewpoints.

The uptrend is still ver much intact. Similarly to our last correction of $100 if we history repeats itself a $100 USD correction would merely bring the price down to 1300!!!!

Silver is COOKING And I would relish in the $30 Price point.

At the same rate I am looking to buy some physical.... SO I am actively looking for dips.

THe days of single digit silver may very well be over my friends...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,912
  • Nov 7, 2010 1:32pm Nov 7, 2010 1:32pm
I am still holding all longs from last week

Profits have been taken on all positions and there was one addition.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold Longs _ Sunday DST b4 open.GIF Size: 37 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,913
  • Nov 7, 2010 1:32pm Nov 7, 2010 1:32pm
Quoting lilpip
friday silver areas of extra interest
2673
2545
2417
with a close @ 2677 she still telling me she wants to climb this week.

remember mm.
have fun
  • #1,914
  • Nov 7, 2010 1:44pm Nov 7, 2010 1:44pm
long silver , long gold.
that's it so far : p
Hero calls followed by margin calls...
  • #1,915
  • Nov 7, 2010 6:25pm Nov 7, 2010 6:25pm
Dollar is getting bid up across the board on majors and crosses on the sunday
start to the FX week.

I may have to take some profits off the table.... currently hedged a bit with some Long Swissy lots and shorting *scalping* really, Cable and Aussie.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,916
  • Nov 7, 2010 7:08pm Nov 7, 2010 7:08pm
Looks like the correction is slowing - may be time to reverse.

This is my desired level from last week to get long cable, and euro.

possible aussie buy in.

Gold pretty much untouched. This is a great barometer of the recent news.

I SUGGEST ALL GOLD AND SILVER BUYERS --- BUY SOMEONE YOU LOVE GOLD OR SILVER FOR THE HOLIDAY SEASON!!!!!!!!!!!!

Whatever your holiday or not is! There is ALWAYS a great gift in Gold!

My gifts this year for family are standardized. Across the board everyone will get some silver. Different types to suite the "Gift-ee" along with 2 two dollar notes. One for LUCK and one for emergency... I think the 2 USD note should be brought back.

YOu cannot get much for a dollar these days!!!

Oh and a nice pen for each...

X

Quoting XTrade
Dollar is getting bid up across the board on majors and crosses on the sunday
start to the FX week.

I may have to take some profits off the table.... currently hedged a bit with some Long Swissy lots and shorting *scalping* really, Cable and Aussie.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,917
  • Nov 7, 2010 8:28pm Nov 7, 2010 8:28pm
Quoting XTrade
Looks like the correction is slowing - may be time to reverse.

This is my desired level from last week to get long cable, and euro.

possible aussie buy in.

Gold pretty much untouched. This is a great barometer of the recent news.

I SUGGEST ALL GOLD AND SILVER BUYERS --- BUY SOMEONE YOU LOVE GOLD OR SILVER FOR THE HOLIDAY SEASON!!!!!!!!!!!!

Whatever your holiday or not is! There is ALWAYS a great gift in Gold!

My gifts this year for family are standardized. Across the board everyone will get some silver. Different types to suite the "Gift-ee"...
Ive beenwatchin them they have all been sitting there for the last hour taken their time but they will show us which way to go once they get movin.
  • #1,918
  • Nov 8, 2010 8:26am Nov 8, 2010 8:26am
Just UNder 1400 markhttp://www.kitco.com/images/live/nygold.gif
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,919
  • Nov 8, 2010 8:36am Nov 8, 2010 8:36am
if it crosses 1400 it will run to alaska i hope and believe
Hero calls followed by margin calls...
  • #1,920
  • Nov 8, 2010 8:41am Nov 8, 2010 8:41am
Yes that is 27.00 Per OZT!

http://www.kitco.com/images/live/nysilver.gif
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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