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

  • #4,201
  • Apr 5, 2011 11:05am Apr 5, 2011 11:05am
Quoting musclemike
I will close 5 lots when we'll be at 1450, another 5 at 1460 and the 5 remaining will keep runing as i promised until oct 2011.

People are on about "lots" all the time but I can't work out what "a lot" is worth....can you please tell me what $1 move is worth per lot?

thanks

beeb
  • #4,202
  • Apr 5, 2011 11:07am Apr 5, 2011 11:07am
Silver 39 Bucks!!! Bringing spot physical metals premiums into the 40's now.

I bought the dip on 38...

We are cooking here today.

Notice how little attention the Gold price paid to the last high?
This is why I use line charts for truer and major S/R levels.

Currencies and commodities like gold and silver make highs and lows every day.
that last one happened to be a record, yet it was hit once, thus it is how the PA handles the area the next times it is in that area. Not as some simply say,
"oh well the market will just stop at the last record."

I think we can see it doesn't work that way!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,203
  • Apr 5, 2011 11:16am Apr 5, 2011 11:16am
Quoting beeb
People are on about "lots" all the time but I can't work out what "a lot" is worth....can you please tell me what $1 move is worth per lot?

thanks

beeb
You cand do the math yourself beeb by calculating the lots i've opened and where are the lots now, but for you beeb, i will "explain" with no problem at all, because i like your style , @15 lots opened, if gold;s price gous up 1$ i make 150$, so @1lot opened if the price goes up 1$ i make 10$.

P.S. Lots are different from one trader to another because it all depends on the leverage they work with.
  • #4,204
  • Apr 5, 2011 11:21am Apr 5, 2011 11:21am
Thanks Mike - I guess I was getting confused by the different definitions....

So 1 lot is $10 per $1 move in the underlying ie 1/10 of a COMEX contract.

Great

beeb
  • #4,205
  • Apr 5, 2011 11:22am Apr 5, 2011 11:22am
Which to me means that it is really 1/10th of a lot.
  • #4,206
  • Apr 5, 2011 11:23am Apr 5, 2011 11:23am
Beeb if they are trading via FX broker it is as follows:

Micro = $1000. of the base - A 10 USD or 1000 pip move in gold with one micro = $10 profit so - 10 cents a pip

Mini = $10,000. of the base expressed in the "quote" usually USD -
so A 10 USD or 1000 pip move in gold with one mini lot = 100 USD profit

Standard = $100,000 of XAU in USD - so a $10 usd or 1000 pip move with a
standard lot = $1000 in profit

Quoting beeb
People are on about "lots" all the time but I can't work out what "a lot" is worth....can you please tell me what $1 move is worth per lot?

thanks

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,207
  • Apr 5, 2011 11:26am Apr 5, 2011 11:26am
I had a nice long at 1430 but I closed so early at 1435. Gold will be up more, I guest 1470 this week.
  • #4,208
  • Apr 5, 2011 11:28am Apr 5, 2011 11:28am
Thanks one and all

beeb

BTW don't forget FOMC tonight.........
  • #4,209
  • Apr 5, 2011 11:33am Apr 5, 2011 11:33am
Quoting SunTrader
Which to me means that it is really 1/10th of a lot.
Yeah, true, but i got used to it calling it "lot" even if in fact it's just a tiny winnie minnie 1/10 from a lot , i hope i'm not causing errors arround, if so, i will conform myself and make some changes in my exprimation.
  • #4,210
  • Apr 5, 2011 11:34am Apr 5, 2011 11:34am
Quoting beeb
Thanks one and all

beeb

BTW don't forget FOMC tonight.........
going to stay around for that one.
  • #4,211
  • Apr 5, 2011 11:45am Apr 5, 2011 11:45am
I got my sell limits set to 1451 lvl, if the price moves around the area it is now, i will probably get at least a spike up of 2-3$ to close them when FOMC meets in aprox 1h15min.
  • #4,212
  • Apr 5, 2011 11:52am Apr 5, 2011 11:52am
Quoting musclemike
I got my sell limits set to 1451 lvl, if the price moves around the area it is now, i will probably get at least a spike up of 2-3$ to close them when FOMC meets in aprox 1h15min.
FOMC is not meeting today.

At 200pm est it is the release of the "minutes" from the last FOMC meeting.
  • #4,213
  • Apr 5, 2011 11:54am Apr 5, 2011 11:54am
Quoting SunTrader
FOMC is not meeting today.

At 200pm est it is the release of the "minutes" from the last FOMC meeting.

apologies - I stand corrected - typing without engaging brain.....

beeb
  • #4,214
  • Apr 5, 2011 11:57am Apr 5, 2011 11:57am
Quoting SunTrader
FOMC is not meeting today.

At 200pm est it is the release of the "minutes" from the last FOMC meeting.
Oups, my bad...
  • #4,215
  • Apr 5, 2011 12:00pm Apr 5, 2011 12:00pm
Quoting beeb
apologies - I stand corrected - typing without engaging brain.....

beeb
No big deal.
  • #4,216
  • Apr 5, 2011 12:17pm Apr 5, 2011 12:17pm
Quoting bLiTzCaT
hi, anyone going short from 1450 ?
me every time there is a rally, harvest3r will be there to counter-trade

greetings from the laundry shop - ops, the drying phase is over, I gotta go!
"The reason I was born and came into the world is to testify to the truth."
  • #4,217
  • Apr 5, 2011 12:20pm Apr 5, 2011 12:20pm
XTrade, are u still hold short on USDCHF???
  • #4,218
  • Apr 5, 2011 12:36pm Apr 5, 2011 12:36pm
Yes, part of the position was closed pre chart posting.

Regardless, if it pops 9300 and my downward green trendline I will consider closing. I left room for the possibility of it reaching the line.

Currently that trade is in the red.

Quoting fawaol
XTrade, are u still hold short on USDCHF???
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,219
  • Apr 5, 2011 12:51pm Apr 5, 2011 12:51pm
I sold some more silver at 39.06, now have only 1/3 of my original position left, Will look to take it at 39.47 i think. Also short on the usd/cad and up 1x risk. a good day to be trading
  • #4,220
  • Edited 5:09pm Apr 5, 2011 12:56pm | Edited 5:09pm
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