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

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

#10,181
Sep 16, 2011 6:45am Sep 16, 2011 6:45am

MapleLeaf
| Joined Dec 2010 | Status: Trader | 638 Posts

HSBC lifts gold price forecast to $2,025

LONDON: HSBC and metals consultancy GFMS both said they see gold rising above $2,000 an ounce, citing high government debt levels and instability in the currency markets, even as spot prices slipped back below the $1,800 mark.
HSBC lifted its 2012 gold price forecast to $2,025 an ounce from $1,625 previously, while GFMS said it could “easily” see gold spiking through $2,000 an ounce by the end of this year.

More here:

http://arabnews.com/economy/article502255.ece

The Black Swan: The Impact of the Highly Improbable

#10,182
Sep 16, 2011 6:47am Sep 16, 2011 6:47am

fawaol
| Joined Oct 2010 | Status: insighter | 268 Posts

Quoting Nguyenngoctu

Disliked

Goodluck

Ignored

Luck may help if your strategy have any uncertainty, the strategy listed above is absolutely clear of any ancertainty

#10,183
Sep 16, 2011 6:50am Sep 16, 2011 6:50am

whatfx
| Joined Jun 2010 | Status: The Villain | 2,565 Posts

Quoting MapleLeaf

Disliked

HSBC lifts gold price forecast to $2,025

LONDON: HSBC and metals consultancy GFMS both said they see gold rising above $2,000 an ounce, citing high government debt levels and instability in the currency markets, even as spot prices slipped back below the $1,800 mark.
HSBC lifted its 2012 gold price forecast to $2,025 an ounce from $1,625 previously, while GFMS said it could “easily” see gold spiking through $2,000 an ounce by the end of this year.

More here:

http://arabnews.com/economy/article502255.ece

Ignored

end of the year , who wants to wait that long.

in that case lets hope a heavey fall comes soon, so that we can all load our buys in anticipation of a move upto 2000 an ounce.

#10,184
Sep 16, 2011 7:20am Sep 16, 2011 7:20am

Wheels
| Joined Sep 2011 | Status: Trader | 423 Posts

Quoting whatfx

Disliked

end of the year , who wants to wait that long.

in that case lets hope a heavey fall comes soon, so that we can all load our buys in anticipation of a move upto 2000 an ounce.

Ignored

I think the volatility we've seen of late is going nowhere until markets settle.

I fear we will see huge swings in both directions, making it difficult to stomach any position.

Picking the low will be as difficult as ever.

#10,185
Sep 16, 2011 7:27am Sep 16, 2011 7:27am

Warwick
| Joined Nov 2009 | Status: Risk Junkie | 778 Posts

Quoting SunTrader

Disliked

The market said back at ya.

Ignored

Not quite - Still sticking to the original plan.... No worries.

#10,186
Sep 16, 2011 7:43am Sep 16, 2011 7:43am

dogbreath
| Joined Aug 2007 | Status: Summer Sausage Club President | 308 Posts

morning fellow traders....good to be here hanging out with like minded people

Thought I would find it useful hanging out here getting your perspectives and offering mine.

Life's a bitch....so be a dog and cover it!

#10,187
Sep 16, 2011 8:26am Sep 16, 2011 8:26am

ddinnov
| Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts

Just found some really really good articles on trading and the ego and how to separate it form your business.

http://www.tradingmarkets.com/.site/...ding-81862.cfm

http://www.moneytec.com/forums/f33/h...trading-28952/

I'm going to stop posting up actual trades I take and just discuss sentiment and TA/PA -

Quote

Disliked

If you profess a trade position to someone else, you have made a subconscious commitment to it - maybe one you shouldn't have. If you know someone may ask you about that position later, you're more apt to hold it, even if it's a loser you'd normally get rid of

Quote

Disliked

By not sharing your trades with friends and colleagues, you allow yourself to make mistakes free of criticism. You allow yourself to fail. You allow yourself to focus on finding better trades rather than proving someone else wrong

Lets all stop arguing with each other and just make money, whether you're short for a $5 move or holding an underwater long riding out a correction - green pips to all!

Anything can happen.

#10,188
Sep 16, 2011 8:39am Sep 16, 2011 8:39am

CathS
| Joined Jun 2011 | Status: Trader | 257 Posts

Thanks Ddinnov!

#10,189
Sep 16, 2011 8:48am Sep 16, 2011 8:48am

patguchi
| Joined Jul 2011 | Status: Trader | 132 Posts

Quoting ddinnov

Disliked

By not sharing your trades with friends and colleagues, you allow yourself to make mistakes free of criticism. You allow yourself to fail. You allow yourself to focus on finding better trades rather than proving someone else wrong

Ignored

IDEALLY, it should depend on the trader's maturity and/or his/her objective for posting. i myself would tell people what my positions are in hopes of some criticisms or arguments from others. for me this is an effective way of learning the ropes. i am in a stage of learning. making mistakes is fine by me because i have nothing to prove anyways.

i did mention the word "ideally" because there are some who just can't handle healthy criticisms or straight forward arguments and resort to name calling or personal attacks. i've seen a few in gold threads and ignored one person.

anyways...i read in a book that the best traders are successful for only 40% of the time. however they are experts at money management...letting their profits run and keeping their loses small. so making mistakes is really part of trading and peeps should really get used to it.

my position for today is to wait for closing prices. if it hits 1720-30 i may take a long position

i'll be missing those parts of your posts though ddinnov=(. but you gotta do what you gotta do=)

#10,190
Edited 10:09am Sep 16, 2011 9:09am | Edited 10:09am

tuba84
| Joined Sep 2011 | Status: Trader | 22 Posts

Gold went up through 1795 level, do you think is a good position for short or time for a long ?

#10,191
Sep 16, 2011 9:30am Sep 16, 2011 9:30am

patguchi
| Joined Jul 2011 | Status: Trader | 132 Posts

http://i56.tinypic.com/zmceoh.gif

i'm tempted to short from here (1795-1800) but i'm not comfortable with shorting gold

#10,192
Sep 16, 2011 9:31am Sep 16, 2011 9:31am

7bit
Joined Mar 2009 | Status: Trader | 1,231 Posts

Quoting ddinnov

Disliked

Lets all stop arguing with each other and just make money, whether you're short for a $5 move or holding an underwater long riding out a correction - green pips to all!

Ignored

The above sentence still has some inherent bullishness in it (I can read this between the lines). You should neutralize this or you might end up holding an underwater long for 30 or more years.

#10,193
Sep 16, 2011 9:47am Sep 16, 2011 9:47am

fawaol
| Joined Oct 2010 | Status: insighter | 268 Posts

Looks like there no more targets above 1800 - going down...

#10,194
Sep 16, 2011 9:49am Sep 16, 2011 9:49am

whatfx
| Joined Jun 2010 | Status: The Villain | 2,565 Posts

ok folks. + 10 pips up on my last trade, so far. waiting for 10 more pips before i close it.

on my way to recovering the 35 pips i lost on the earlier trade.

iam off now......

.

#10,195
Sep 16, 2011 9:56am Sep 16, 2011 9:56am

ddinnov
| Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts

Quoting 7bit

Disliked

The above sentence still has some inherent bullishness in it (I can read this between the lines). You should neutralize this or you might end up holding an underwater long for 30 or more years.

Ignored

I've got an underwater short! Or should that be above water? Or fish out of water?

I wanted to see 1750(ish) today. Oh well, if I'm wrong I'm wrong

Anything can happen.

#10,196
Sep 16, 2011 10:12am Sep 16, 2011 10:12am

Warwick
| Joined Nov 2009 | Status: Risk Junkie | 778 Posts

Quoting 7bit

Disliked

The above sentence still has some inherent bullishness in it (I can read this between the lines). You should neutralize this or you might end up holding an underwater long for 30 or more years.

Ignored

Rubbish ... Everyone knows "precious" metals are a sure trade.

lol - On a more serious note - Incredible how the market is tolerating Gold/Silver Bulls. Almost as if it's scared to go after their stops.

Is everyone suffering from delusion? These guys literally have a "free atm" machine.

#10,197
Sep 16, 2011 10:38am Sep 16, 2011 10:38am

jinsen
| Joined Jan 2009 | Status: SNIPER | 289 Posts

Make a buy at 1794. Small time frame seem like making higher high.
Price also break back up the trendline.
Now stoploss at 1795. May closee trade later.

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