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

  • #16,841
  • Feb 28, 2012 2:17pm Feb 28, 2012 2:17pm
This is a truer hedge instead of locking in your loss by taking an opposite position on the same pair and essentially locking in a loss.

Well done BMA,
X

Quoting bumapatria
hedged against silver by going long on gold for a few
a good 10 buck long closed.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,842
  • Edited 3:57pm Feb 28, 2012 2:21pm | Edited 3:57pm
We already have a huge bull flag on the weekly. On the TF you are looking at the PA is already too far away in range from the Pole to become a flag.

My advice try to get out of the habit of Using BE.

It will reduce your wins by over 50%.

Unless the market is moving at extreme paces - you will often lose more than win.

BE does not allow you to expose yourself to the original Risk Reward you need.

However is good that you took some profit, so I'll let it slide!!!!
Quoting fuse
I closed a part of my position, set to BE- will let the rest run. I'm really waiting for a pull back so I can enter long again. I'm hoping this pattern will turn into a bull flag.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,843
  • Feb 28, 2012 2:30pm Feb 28, 2012 2:30pm
If you took the signal here you would have set a buy for 1760 or below, we have just made a new weekly high,
Buy at 1760 /50 you would be sitting pretty at 1786 with a high of 1789

On a nice $25/6 USD move. This was an easy trade. With plenty of potential to the upside.

Now, if you had shorted you would be either stopped out or made a mediocre
10 USD move and have to wait to re-enter or that would be your final gain for the day.

AGAIN. Another reason you SCALP IN THE DIRECTION OF THE TREND.

DO NOT TRY TO OUTSMART THE MARKET> You will lose more than win.
Any patrons here should have made money today on this.

Quoting XTrade
IF you want to trade the INVERSE HeaD & ShoulderS.........................

Ideally you would want to enter at a further test of the neck - which may or may not come. So 1760 / 50[/b]
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,844
  • Edited 3:45pm Feb 28, 2012 2:49pm | Edited 3:45pm
Here is the INVERSE H&S( which means the opposite)


Again, not perfect, but worth watching and trading off. i WILL look at it more in depth later.
Attached Image (click to enlarge)
Click to Enlarge Name: XAG _Potential Inv HS feb 28.GIF Size: 23 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,845
  • Edited 4:07pm Feb 28, 2012 3:49pm | Edited 4:07pm
Divergence in what. It will tank. The downtrend will resume. Sorry DIXY....
Quoting jeremyyn
Im seeing some bullish divergence on the USD Index. Who knows what will happen when Bernanke talks.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,846
  • Feb 28, 2012 3:53pm Feb 28, 2012 3:53pm
1. Set it and Forget it.
2. Walk away
3. Trade Gold on one account mainly - Primary intraday currency account is on different broker.
4. Look for longer term targets and the BIGGER PICTURE.
5. Use lower risk - ie: smaller lots
6. Practice makes perfect.
7. Tamper with test trades on a demo

Quoting duzza
How do you stay disciplined enough to do this? I have a real problem with letting trades ride and often get out at only 60-70% of the profit I could have made. Even if I have set a sensible tp more often than not I am out before it gets near. Recently I have started setting very conservative tps, which just avoids the issue completely.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,847
  • Feb 28, 2012 3:58pm Feb 28, 2012 3:58pm
BMA,

Please try and leave the prices on your charts so we can see your ananysis more clearly.

X
Quoting bumapatria
hedged against silver by going long on gold for a few
a good 10 buck long closed.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,848
  • Feb 28, 2012 4:00pm Feb 28, 2012 4:00pm
Unless your broker does it you will not find it as it is useless. An Mt4 broker MIGHT, do A year in M1
Quoting Fame of me
Hi,
have anyone historical data from gold for 2011 M1?

When i try to download more data i have no luck. Just data in h1 D1 and and and.
But i need the data for M1 maybe someone can help me.

thanks
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,849
  • Feb 28, 2012 4:07pm Feb 28, 2012 4:07pm
Quoting XTrade
1. Set it and Forget it.
2. Walk away
3. Trade Gold on one account mainly - Primary intraday currency account is on different broker.
4. Look for longer term targets and the BIGGER PICTURE.
5. Use lower risk - ie: smaller lots
6. Practice makes perfect.
7. Tamper with test trades on a demo
any idea on silver
where its best buy
  • #16,850
  • Feb 28, 2012 4:38pm Feb 28, 2012 4:38pm
Quoting ikdenk
When is the next NFP, please?

It is supposed to be the fourth Friday from the end of the month, which would be this Friday.

But usually it is the first Friday of the month, sometimes the second Friday.

FF is ambiguous with employment numbers on Thursday.

Found it: Friday 9 March - 8.30 am EST

For future reference:

http://www.bls.gov/schedule/news_rel...1203_sched.htm
  • #16,851
  • Feb 28, 2012 5:53pm Feb 28, 2012 5:53pm
testing price 1783 on 4hr..
  • #16,852
  • Feb 28, 2012 6:06pm Feb 28, 2012 6:06pm
Have you read the past 10/20 pages of this thread?
Or even post 1.

Quoting Raja Yasir
any idea on silver
where its best buy
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,853
  • Edited 6:51pm Feb 28, 2012 6:26pm | Edited 6:51pm
hey X sorry mate - but that was closed when i screenshot it on the gold hedge.

but i think i learnt something. wait for the daily bar to close when playing cycles. i think if i went long that wouldve made complete sense. so i guess the best is to wait for the bar to close to see the complete view especiallt trading cycles on the daily!

ill be looking to play it more as i know what i did wrong on silver. ill looking to be long pullbakcs on silver as i believe the upwards potential is not minimized too much yet. we might see some profit taking so any short should be low risk scalps and longs are the play until some more confirmed levels and levels in time for lower risk short trades.

adding on more to this - it is at 61.8% retrace on the whole daily downtrend swing and some old support retest which may result in profit taking or a correction to the downside but this should be minor. if one wishes to trade it - use small lots and a tight stop when going short at current levels
Have I got something on my face, SOLDIER?
  • #16,854
  • Edited 9:55pm Feb 28, 2012 8:43pm | Edited 9:55pm
Quoting XTrade
I bought physical silver in this thread - it is documented.

I have made back the almost 2 USD ABOVE spot on each coin.

AND

Unfortunately my favorite physical dealer now has an office in NYC, I also have to pay tam.

Point being I made the tax also. I normally wouldn't count tax as part of the spot price.

But this is an example of how you can make money trading physical.

A few more USD rize and I can sell for profit on each coin!
only buying for 3 years, since $15 and $1060 but I look to buy most once or twice a year and reward myself once or twice a year.
this year first reward at $48 area.

buy cash local and no tax, no shipping.
  • #16,855
  • Edited 8:48pm Feb 28, 2012 8:45pm | Edited 8:48pm
The TRADE EXPLORER is UP and Running.

I tried to use a broker that still lets US parties trade GOLD & SILVER.

KEEP IN MIND> I Trade XAU and XAG WITH NO leverage. So 1:1
This is LIVE and On DEMO. Does not matter.

Also - ALL currency demo trades are ]:50 leverage and that is the highest.
There is no more 1:200 or higher.

Now we can take trades for the thread. You can see I have a bunch of demo trades on already.

I frequently use demos for various reasons,
one of which is to test trades, tamper with exits and entries of trades I have on already Live so not to give my money back to the market.
Charting.
Practice of systems, etc.

The explorer is at the top of this thread and on my page here at FF. It can be a demo or live account. On my primary live acct I cannot access the XAU/ XAG charts.
X
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #16,856
  • Feb 28, 2012 9:11pm Feb 28, 2012 9:11pm
Short on XAUJPY

50% of previous time range from high to low - 138.2% of last down swing...
congrats to Xtrade on his explorer running
Attached Image (click to enlarge)
Click to Enlarge Name: Short_XAUJPY.png Size: 41 KB
Have I got something on my face, SOLDIER?
  • #16,857
  • Feb 28, 2012 10:08pm Feb 28, 2012 10:08pm
Some days back Bemac gave a heads-up to go buy at 1730, gold saw 1770 within a day.

Now X gave a clear call to go buy at 1760, it went to 1790 within a day.

What else do one want? 2% profit on one's investment within 24 hours.

By the way thanks for being brave X, most of the time i see that the big names here don't risk throwing calls, so thanks again for your confidence!
  • #16,858
  • Feb 28, 2012 10:10pm Feb 28, 2012 10:10pm
daily highs achieved and its bounce down at 1789 noted.
break of weekly and feb. monthly highs 36.10-15 area along with bounce down at 37.20 area noted.
wed will be watching how weekly highs 1798 responds along with sis at 37.20 area.
  • #16,859
  • Feb 28, 2012 10:12pm Feb 28, 2012 10:12pm
Quoting lilpip
only buying for 3 years, since $15 and $1060 but I look to buy most once or twice a year and reward myself once or twice a year.
this year first reward at $48 area.

buy cash local and no tax, no shipping.
How much is the Tax in your country Sir ?
  • #16,860
  • Feb 28, 2012 10:15pm Feb 28, 2012 10:15pm
Quoting forexfacts
How much is the Tax in your country Sir ?
if I dont use cash on metal it is 7% tax.
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