The Black Swan: The Impact of the Highly Improbable
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #3,963
- Mar 30, 2011 4:13pm Mar 30, 2011 4:13pm
- | Commercial User | Joined Oct 2010 | 1,778 Posts
Oops...that's a horrible mis-type. I don't know what was in my mind. I meant 37.10-20.
Yesterday I longed 10 lots of AG at 36.82 and this morning I woke up and looked at my screen and everything was brilliant. My plan was to hold these position for at least 1 or 2 days, and I got wigsawed 2 hours later(meaning my stop loss was set at 37 and you know what happened)...
hee hee - thought that was the case
you know what they say - you snooze, you lose.............lol
beeb
- #3,964
- Mar 31, 2011 12:38am Mar 31, 2011 12:38am
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #3,965
- Mar 31, 2011 1:21am Mar 31, 2011 1:21am
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
Just took profit on GBP long. thinking about getting back in.
Seems USD rally was nothing more than correction and not reversal material as of yet.
SO,
Potential Long GBP and EUR / USD
Holding Gold longs and long AUD short Swissy. (short USD/CHF) = long CHF
I like this round curve on the H4 by the 200 period sma.
Looks like gold is ready to plow through 1450 any day now. There was a pretty wild swing today and judging by the way it was snatched up and brought back to fair value I'm banking on the longs fellas.
Good luck!
Seems USD rally was nothing more than correction and not reversal material as of yet.
SO,
Potential Long GBP and EUR / USD
Holding Gold longs and long AUD short Swissy. (short USD/CHF) = long CHF
I like this round curve on the H4 by the 200 period sma.
Looks like gold is ready to plow through 1450 any day now. There was a pretty wild swing today and judging by the way it was snatched up and brought back to fair value I'm banking on the longs fellas.
Good luck!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #3,966
- Mar 31, 2011 1:28am Mar 31, 2011 1:28am
- | Commercial User | Joined Oct 2010 | 1,778 Posts
Xtrade - remember it's the last day of the Quarter and plenty of book-squaring and window dressing will be taking place. Also plenty of rollovers to the new futures contract.....
Buying physical has worked fantastically well for the last few years and cost-averaging has been a method that has worked for me.
Out of my trading profits each month (assuming I have some lol) I first take my month's living expenses. Of the rest I divide it into thirds. One third is immediately invested into PM's whatever the price happens to be. A further third is kept to be invested in PM's at what I deem to be opportune moments - for the last couple of years this has been when Gold has touched the 150MA. The final third is "play money" and is either used to bolster my trading account, for extra PM purchases or for life's little luxuries.
All I can suggest is making a plan that you are happy with it and having the discipline to stick to it....
beeb
Buying physical has worked fantastically well for the last few years and cost-averaging has been a method that has worked for me.
Out of my trading profits each month (assuming I have some lol) I first take my month's living expenses. Of the rest I divide it into thirds. One third is immediately invested into PM's whatever the price happens to be. A further third is kept to be invested in PM's at what I deem to be opportune moments - for the last couple of years this has been when Gold has touched the 150MA. The final third is "play money" and is either used to bolster my trading account, for extra PM purchases or for life's little luxuries.
All I can suggest is making a plan that you are happy with it and having the discipline to stick to it....
beeb
Hi guys, not been about much this week. I'm doing other jobs, making the most of the illusive British sun we've had for the last week now i'm caught in the middle of a job just as it starts pissing down again!
I bought again last night at around 1423 and i'm staying in for new highs. Will trail stop as usual.
I bought again at 1423 because of yesterday's enormous 4hr pin close around this level, which was slap bang inside the daily trader's action zone (8+21Ema).
now i'm caught in the middle of a job just as it starts pissing down again!I bought again last night at around 1423 and i'm staying in for new highs. Will trail stop as usual.
I bought again at 1423 because of yesterday's enormous 4hr pin close around this level, which was slap bang inside the daily trader's action zone (8+21Ema).
- #3,973
- Mar 31, 2011 6:43am Mar 31, 2011 6:43am
At this rate silver is a going to hit FIFTY BUCKS an OZ (TROY)
This will not be a good price to buy physical. Really in the next few year or 2 I am looking for silver to potentially correct, then hit 100 an oz.
I am going to resume plan of systematically adding whatever physical holdings I can each month. Even if the price dips to 20, well that's a discount. Buy more, get the dollar cost average per oz back down and tuck it away for a rainy day in five or ten years from now.
Stacking. Stacking, Stacking. (...)
I was expecting silver to fall a little bit but, as I already said some weeks ago, it's difficult to see a sign of any big fall in the short term. With the "risk" of even bigger rallies, I decided to buy some physical silver, even though the current price is quite high. In August 2010 my first silver coin cost EUR 14.60. Now, 7 months later, it's virtually impossible to find anything by less than EUR 29 (!!!).
Nevertheless, I reached my monthly profit target before the time and decided to invest all the extra profit on physical silver. I managed to get a few coins this week. They are nice! There is this slight feeling: "well... that's a silver coin. And that's my profit. I traded metals... and have this metal in my hand as a result. It's concrete. And it's shining! So beautiful!"
If the price goes down, it's always possible to make cost-average, so it won't hurt. I will try to follow this strategy and invest any extra profit in physical metal.
Physical gold would be nice. Unfortunately my money is not enough for 1-oz coins and the smaller ones (1/2 oz, 1/4 oz, 1/10 oz) have a much higher spread, it's not worth paying for it.
beeb showed a good investment plan, too. It's important to invest at least a small part of the profits on something solid (physical metals, real estate, etc.), it doesn't matter which amount or with which strategy. A profit taken in this way cannot be lost on a bad trade - unless you make a bad investment
"The reason I was born and came into the world is to testify to the truth."
- #3,975
- Mar 31, 2011 8:03am Mar 31, 2011 8:03am
Wait until the dollar rallies, the stock market drops and QE stops. I would not be buying physical now. Silver cannot stay in this fantasy land forever. Nothing goes up forever. Why buy high, have patience and you can buy lower in the next few months, trust me it will happen.
Jokes apart - yes, everything is possible, but I prefer to be on the safe side and have a small amount of physical metal. When the correction comes, I can cost-average it. It's a matter of a few coins, not a room full of bars.
What if it corrects only after $50? We don't know...
1438! There we go, finally! (Funny, this time silver is not following...)
"The reason I was born and came into the world is to testify to the truth."
- #3,976
- Mar 31, 2011 8:18am Mar 31, 2011 8:18am
Do you give me a CALL on silver @20?
Jokes apart - yes, everything is possible, but I prefer to be on the safe side and have a small amount of physical metal. When the correction comes, I can cost-average it. It's a matter of a few coins, not a room full of bars.
What if it corrects only after $50? We don't know...
1438! There we go, finally! (Funny, this time silver is not following...)
...... Silver cannot stay in this fantasy land forever. Nothing goes up forever. Why buy high......
Hmmm...why do i live with the impression that i am surrounded by FED'd employees (was a joke
)...when the investment manager of Deutsche Bank says that 1400 is not a high price for gold to buy (i assume it's the same with silver), when everything points out to world economic instability (wars, disasters, QE's, unemployment, commodity prices (oil, grains, etc) gowing up etc etc) it's pretty unsafe to say that silver/gold will not be going up forever, that may be (because even US/EUR has to rally sometimes too ) but for now (a long time from now on) it;s just not safe to say that paper money are in power nor will be soon.