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

  • #10,061
  • Sep 13, 2011 8:19pm Sep 13, 2011 8:19pm
I know, beautiful isn't it? just wait for the London open, I'm pretty bullish for today.
  • #10,062
  • Sep 13, 2011 8:23pm Sep 13, 2011 8:23pm
Quoting Wheels
Hey Warwick, I'd love you to elaborate on the statement about stop loss orders in your tag.

How exactly do stop loss orders dictate market action?
Will explain shortly... as the night progresses; although it does include some fairly rudimentary concepts.

Interesting - XAG probing for phantom stops in the upper 41xx zone: I would hate to think the market is that daft. - wonder how long the buyers will throw money at it - considering the amount of bulls/freeloaders involved. The reversal should be swift and painful. (careful with your longs)
  • #10,063
  • Sep 13, 2011 8:33pm Sep 13, 2011 8:33pm
Quoting Warwick
Will explain shortly... as the night progresses; although it does include some fairly rudimentary concepts.

Interesting - XAG probing for phantom stops in the upper 41xx zone: I would hate to think the market is that daft. - wonder how long the buyers will throw money at it - considering the amount of bulls/freeloaders involved. The reversal should be swift and painful. (careful with your longs)
Would you like to post more about trading stops with XAG and XAU?
I think we would appreciate that.
  • #10,064
  • Sep 13, 2011 8:51pm Sep 13, 2011 8:51pm
Quoting Bemac
I will only speak to the India side of this equation.
India will very soon, if they have not already, meet their Annual Wedding Season Demand for Gold!
August/September.

Yes. Believe it or not, It's a Gold Play. Buy Gold Early Summer & hold till Mid September.
The Effect IS weakening due to people like me publishing it over the Net but it still carries some credence.

Hence: I am aside as I suspect are a Lot of Others, Including Big Dogs for a Month or so. Next we will have the Post India Buy which will take us to Thanksgiving & shortly thereafter...
Not a bad idea - except it is fun to play the market both ways. I will get out when it is a good time for me. No predicting what will happen before this point in time.
  • #10,065
  • Sep 13, 2011 9:42pm Sep 13, 2011 9:42pm
How's everyone doing??

I have been very busy trading physical lately... Need to read some back posts.

Everyone trading? Flat? looking, waiting, thinking, nothing???

I see we are precisely where I thought. Smack dab in the middle of a trade-able range of appx 100 USD. Not a bad range. Then I suppose you could call the lower half a separate 50 USD range with a tad more PA.

Too bad there's no buy / sell thread here. I think I will ask. Although the forum is very international may be more of a headache than it's worth.

Take a look
Attached Image (click to enlarge)
Click to Enlarge Name: xau range 9 13.GIF Size: 31 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,066
  • Sep 13, 2011 9:55pm Sep 13, 2011 9:55pm
Quoting XTrade
How's everyone doing??

I have been very busy trading physical lately... Need to read some back posts.

Everyone trading? Flat? looking, waiting, thinking, nothing???

I see we are precisely where I thought. Smack dab in the middle of a trade-able range of appx 100 USD. Not a bad range. Then I suppose you could call the lower half a separate 50 USD range with a tad more PA.

Too bad there's no buy / sell thread here. I think I will ask. Although the forum is very international may be more of a headache than it's worth.

Take a look
Pretty simple without studying Fundies.
Up to 1,870
OR
Dn to 1,789
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr sept 13 up or down.gif Size: 48 KB


Stay tuned or play amongst yourselves.


B
  • #10,067
  • Sep 13, 2011 10:22pm Sep 13, 2011 10:22pm
http://upic.me/i/3i/14-9-255410-00-36.png


1.up to 1850
2. down to 1782
  • #10,068
  • Sep 13, 2011 11:56pm Sep 13, 2011 11:56pm
Gold:

Upward - 1870.76

Downward - 1789.48


Silver:

Upward - 44.18

Downward - 39.70
  • #10,069
  • Sep 14, 2011 2:56am Sep 14, 2011 2:56am
http://upic.me/i/ve/14-9-255414-47-00.png

UP UP
1.Up to +-1844 follow to +-1850 +-1868
  • #10,070
  • Sep 14, 2011 3:16am Sep 14, 2011 3:16am
Quoting zam4ever
Just a question.

How strong price co-relation between XAU/USD and XAG/USD?

cheers
Suggest you google "gold silver ratio" or something similar....

beeb
  • #10,071
  • Sep 14, 2011 4:46am Sep 14, 2011 4:46am
Nice. Very nice.

Quoting Bemac
Pretty simple without studying Fundies.
Up to 1,870
OR
Dn to 1,789
Attachment

Stay tuned or play amongst yourselves.


B
Hello.
  • #10,072
  • Sep 14, 2011 5:19am Sep 14, 2011 5:19am
Quoting XTrade
How's everyone doing??

I have been very busy trading physical lately... Need to read some back posts.

Everyone trading? Flat? looking, waiting, thinking, nothing???

I see we are precisely where I thought. Smack dab in the middle of a trade-able range of appx 100 USD. Not a bad range. Then I suppose you could call the lower half a separate 50 USD range with a tad more PA.

Too bad there's no buy / sell thread here. I think I will ask. Although the forum is very international may be more of a headache than it's worth.

Take a look
long from 1820, still floating. first resistance 1851.
trading is my zen
  • #10,073
  • Sep 14, 2011 6:56am Sep 14, 2011 6:56am
Quoting XTrade
How's everyone doing??

I have been very busy trading physical lately... Need to read some back posts.

Everyone trading? Flat? looking, waiting, thinking, nothing???

I see we are precisely where I thought. Smack dab in the middle of a trade-able range of appx 100 USD. Not a bad range. Then I suppose you could call the lower half a separate 50 USD range with a tad more PA.

Too bad there's no buy / sell thread here. I think I will ask. Although the forum is very international may be more of a headache than it's worth.

Take a look
Bought silver at 41.00 and sold it at 41.30, just gone for a rinse + repeat
Anything can happen.
  • #10,074
  • Sep 14, 2011 6:59am Sep 14, 2011 6:59am
yep, range it is.

unless it crosses over at least above 1850, then nothing bullish doing. for me it has to breaK THE HIGH of 1915 at least before i take any proper longs.

in the meantime may look at more range trades if i have the time...


did enter a range buy trade yesterday though at 1822 with a small position. holding on to see if i can get a few pips out of it..will be closing if at least 20 pips up. cant expect more from a range trade...


  • #10,075
  • Sep 14, 2011 7:01am Sep 14, 2011 7:01am
-
  • #10,076
  • Sep 14, 2011 7:53am Sep 14, 2011 7:53am
Quoting Warwick
-
Hey Warwick - would you care to explain how the market is governed by stop losses?

I realize you consider this aspect rudimentary, but I would appreciate your input very much.

I understand that price moves quickly when stop losses are triggered, but I feel like there is more to your approach.

Perhaps you use this kind of jumpy price movement to help you decide whether resistance has been met or will subside?

I'm honestly curious.

Cheers
  • #10,077
  • Sep 14, 2011 8:25am Sep 14, 2011 8:25am
Quoting Wheels
Hey Warwick - would you care to explain how the market is governed by stop losses?

I realize you consider this aspect rudimentary, but I would appreciate your input very much.

I understand that price moves quickly when stop losses are triggered, but I feel like there is more to your approach.

Perhaps you use this kind of jumpy price movement to help you decide whether resistance has been met or will subside?

I'm honestly curious.

Cheers
To me it looks like if price is near an obvious support/resistance level you can pretty much bank on them pushing it through to trigger stops that they know are there. This can work in your favour for getting better entries and setting profit targets.

I've set limit entries 10/15 pips above/below a pivot level before to squeeze in a few extra pips from the greedy f*ckers and their stop hunting hunting shenanegans. Works some of the time, other times I haven't been filled because of it. For taking profits on short term trades it works well because if price is near a key level you pretty much know that stops will be behind it and they will go for them and price will almost definately hit that level and a few pips beyond.
Anything can happen.
  • #10,078
  • Sep 14, 2011 8:45am Sep 14, 2011 8:45am
Quoting ddinnov
To me it looks like if price is near an obvious support/resistance level you can pretty much bank on them pushing it through to trigger stops that they know are there. This can work in your favour for getting better entries and setting profit targets.

I've set limit entries 10/15 pips above/below a pivot level before to squeeze in a few extra pips from the greedy f*ckers and their stop hunting hunting shenanegans. Works some of the time, other times I haven't been filled because of it. For taking profits on short term trades it works well because...
I appreciate the explanation ddinnov. I tend to agree that price action is deliberate - not a random process of buys/sells.

I usually try to get out of a stop without a loss (I avoid stop losses and prefer hedging with sell/buy stops).

I just had a stop triggered and am not bothering to try to time my exits for now. With my slight buy bias, I am prepared for the market to turn upward as I will still add to my account. If it continues downward, I will profit with each sell stop and improve my position. Would love to dehedge before $*#^ hits the fan, but am perfectly happy with my buy bias and walking away with a smaller profit.
  • #10,079
  • Sep 14, 2011 9:46am Sep 14, 2011 9:46am
I just love DDinnov!!

Quoting ddinnov
To me it looks like if price is near an obvious support/resistance level you can pretty much bank on them pushing it through to trigger stops that they know are there. This can work in your favour for getting better entries and setting profit targets.

I've set limit entries 10/15 pips above/below a pivot level before to squeeze in a few extra pips from the greedy f*ckers and their stop hunting hunting shenanegans. Works some of the time, other times I haven't been filled because of it. For taking profits...
  • #10,080
  • Sep 14, 2011 10:23am Sep 14, 2011 10:23am
Quoting ddinnov
To me it looks like if price is near an obvious support/resistance level you can pretty much bank on them pushing it through to trigger stops that they know are there. This can work in your favour for getting better entries and setting profit targets.

I've set limit entries 10/15 pips above/below a pivot level before to squeeze in a few extra pips from the greedy f*ckers and their stop hunting hunting shenanegans. Works some of the time, other times I haven't been filled because of it. For taking profits on short term trades it works...
hahaha! That is so TRUE. I get the same feeling too! Sucks really after all the European drama..Gold isn't safe haven anymore. Its easy to come up with excuses like : 'Portfolio managers had to sell gold to cover losses in Stocks or whatever', where the f**k were they when all the stocks or whatever were crashing? Stock are not even down that much. They realized it now that they have to sell their Gold to save their a$$e$.

Sorry for behaving a bit uneducated but seriously..frustrating times.
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