XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 893 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD, Silver/USD

Similar Threads

Gold futures & XAU 78 replies

GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies

Daytrade - XAU/USD & XAG/USD 14 replies

XAU/JPY & XAG/JPY 13 replies

Successful XAU/USD traders 7 replies

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

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

  • #17,841
  • Mar 20, 2012 8:25am Mar 20, 2012 8:25am
Quoting rencetan
That's the right way to do it, but sometimes you loss more than u win
I've been there and I didn't like it, so I decided to make a change.

If losses are bigger than profits, there is a problem.
I don't like to loose. But when I'm wrong I prefer a small loss than a big one.
I like to win, and to achieve that I need to have good odds.

So far, this is what I try to do:

I let the charts tell me where the price has reacted before.
I use trendlines to anticipate a reaction.
I look for confluence to setup a trade.
I buy @ support
I sell @ resistance
I wait a test when there is a breakout
I don't place trades all the time. Price must come to my entry point so I can get filled.
If PA invalidates my previous analysis before price reaches my entry point, I will reassess my setup and let the chart tell me what's going on.
If I miss an entry I won't chase the market. I can wait for a new chance. It's not the same thing not being afraid to loose than provoking a loosing trade.
I trade 3:1 or 4:1 setups. More than a 60% wins. Still need to improve.
I don't trade without stop loss. So I need to identify a good entry near a reaction level, and I place my SL just away so if it is hit is because I'm wrong or something I'm not aware of is happening. In that case I don't want to be in that trade anymore.
I know what is a margin call, it only happened because of not using stop loss.
I make mistakes, but I try to learn from them.
I won't repeat previous mistakes if I am able to identify them.
I've been expendig time researching, trying, making mistakes, learning, improving.
So I try to understand what I see.

In a few words: i'm making my own rules.
  • #17,842
  • Mar 20, 2012 9:42am Mar 20, 2012 9:42am
Quoting jsr
I've been there and I didn't like it, so I decided to make a change.

If losses are bigger than profits, there is a problem.
I don't like to loose. But when I'm wrong I prefer a small loss than a big one.
I like to win, and to achieve that I need to have good odds.

So far, this is what I try to do:

I let the charts tell me where the price has reacted before.
I use trendlines to anticipate a reaction.
I look for confluence to setup a trade.
I buy @ support
I sell @ resistance
I wait a test when there is a breakout
I don't place trades...
A very good advice for every traders. I had experience that stage just recently. Without a stop loss, anything unexpected can happen which can damage ur account. That is what happen to me when gold unexpectedly fall until the current price from 1790. Luckily, my lot size is small but still a big mistake for not putting stop loss. Appropriate stop loss will let the price to breath and the risk is calculated and budgeted. I am still fine tune my own trading system which is using Ichimoku. I only start trading live a month ago. Thanks for this thread, I have learned much from the experience of many good traders. Keep up the good work. I will start posting chart after fine tuning my own trading plan
  • #17,843
  • Mar 20, 2012 12:53pm Mar 20, 2012 12:53pm
I smell a breakout.

That triangle is running out of space.

m30 chart
Attached Image (click to enlarge)
Click to Enlarge Name: xau20120320m30.png Size: 64 KB
  • #17,844
  • Mar 20, 2012 1:37pm Mar 20, 2012 1:37pm
First, duty on raw import, now tax on jewellery:

http://www.bloomberg.com/news/2012-0...-taxes-1-.html
  • #17,845
  • Mar 20, 2012 1:42pm Mar 20, 2012 1:42pm
Just a heads up, even though gold got pummeled today due to news from China, the GDX (Gold Miners ETF) has been rallying sharply in the opposite direction of all the mayhem. In other words, gold stocks are rallying, institutions found this down day to be a buying opportunity. The GDX failed right at support for crying out loud, this kind of failure usually is indicative of a V-shaped reversal. I am not trading this, but just thought of posting it here.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2012-03-20_2233_GDX.jpg Size: 145 KB
Click to Enlarge Name: 2012-03-20_2238.jpg Size: 82 KB
  • #17,846
  • Mar 20, 2012 6:56pm Mar 20, 2012 6:56pm
Just few thoughts. USA pressure Iran with low gold prices. Also same with oil should be. Now, on my charts I see price going down to critical in my point level - 1585. Trend is down till that price.
  • #17,847
  • Mar 20, 2012 7:53pm Mar 20, 2012 7:53pm
Quoting vaidas7777
Just few thoughts. USA pressure Iran with low gold prices. Also same with oil should be. Now, on my charts I see price going down to critical in my point level - 1585. Trend is down till that price.
What makes you say 1585?
Life's a bitch....so be a dog and cover it!
  • #17,848
  • Mar 20, 2012 8:01pm Mar 20, 2012 8:01pm
What is "Iran low gold prices?"

Please elaborate a little more on your post.

Long term = Trend clearly UP
Medium term = range - sideways / nuetral
Short term bearsish

Quoting vaidas7777
Just few thoughts. USA pressure Iran with low gold prices. Also same with oil should be. Now, on my charts I see price going down to critical in my point level - 1585. Trend is down till that price.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #17,849
  • Mar 20, 2012 8:13pm Mar 20, 2012 8:13pm
spring equinox is here, falling price, and check out the price to time projection. points to this date. fib time ranges included as well.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-03-21_0810.png Size: 22 KB
Have I got something on my face, SOLDIER?
  • #17,850
  • Mar 20, 2012 8:20pm Mar 20, 2012 8:20pm
square of 144 end of time range, and price is at 2/8ths support line, and if we do rise from here, next resistance lies at the next fanline.
and did u notice if we use just use closing prices we are at the golden ratio's 0.618
Attached Image (click to enlarge)
Click to Enlarge Name: g2.png Size: 45 KB
Attached Image
Have I got something on my face, SOLDIER?
  • #17,851
  • Edited 8:58pm Mar 20, 2012 8:44pm | Edited 8:58pm
Quoting XTrade
What is "Iran low gold prices?"
think he on about iran selling its oil in gold to india etc because of the sanctions the us is putting on them, myself i dont see them attacking the paper gold price to hurt iran as that would affect the physical market increasing the demand if paper price of gold was to fall hard to hurt iran

i think a more important point on iran it was cut out of the global banking system at the weekend, which means it could have a big effect on the dollar as you could have a big dollar devaluation from that action, which i think if it happens would see the price of gold go up as im sure it would mean you need more paper dollars to buy gold if it is devalued from all this, but i sure it wont get this far as iraq and libya also tried to sell oil in something not dollar and we know what happen to them

iran has the 3rd biggest oil fields on the planet and being cut out of the system would mean all that oil not going to be sold in dollars is my theory on the dollar devaluation, as the standard currency of the world today is crude oil which is sold in dollars why it reserve currency and having oil sold in anything not dollars is a threat to the dollar itself
  • #17,852
  • Mar 20, 2012 8:54pm Mar 20, 2012 8:54pm
Quoting Cypher
think he on about iran selling its oil in gold to india etc because of the sanctions the us is putting on them, myself i dont see them attacking the paper gold price to hurt iran as that would affect the physical market increasing the demand if paper price of gold was to fall hard to hurt iran

i think a more important point on iran it was cut out of the global banking system at the weekend, which means it could have a big effect on the dollar as you could have a big dollar devaluation from that action, which i think if it happens would see the...
I would concur with all of that....which means us is going to war with Iran pretty soon....my guess is they are going to sink the uss enterprise...as a false flag attack and claim that Iran did it...just my 2 pence
Life's a bitch....so be a dog and cover it!
  • #17,853
  • Mar 20, 2012 9:13pm Mar 20, 2012 9:13pm
Quoting Cypher
think he on about iran selling its oil in gold to india etc because of the sanctions the us is putting on them, myself i dont see them attacking the paper gold price to hurt iran as that would affect the physical market increasing the demand if paper price of gold was to fall hard to hurt iran

i think a more important point on iran it was cut out of the global banking system at the weekend, which means it could have a big effect on the dollar as you could have a big dollar devaluation from that action, which i think if it happens would see the...
What someone's loss is someone's gain. Perhaps China will benefit the most on the whole - buy in when gold price down so much. Will U.S allow that to happen?
  • #17,854
  • Mar 20, 2012 9:25pm Mar 20, 2012 9:25pm
Apparently Fox Business got a hold of Bernanke's written testimony 17hrs prior. It's now posted on the fed website.

http://www.federalreserve.gov/newsev...e20120321a.htm
  • #17,855
  • Mar 20, 2012 9:29pm Mar 20, 2012 9:29pm
Quoting dogbreath
I would concur with all of that....which means us is going to war with Iran pretty soon....my guess is they are going to sink the uss enterprise...as a false flag attack and claim that Iran did it...just my 2 pence
Nice to see you man and what is uss enterprises attack? is it something like this movie's advance warning in the year 1996 for the 2001 attacks.


youtube.com/watch?v=ntpTuOpnt70

By the way it was a very good movie: Long kiss goodnight.
  • #17,856
  • Mar 20, 2012 9:34pm Mar 20, 2012 9:34pm
Quoting Cypher
think he on about iran selling its oil in gold to india etc because of the sanctions the us is putting on them, myself i dont see them attacking the paper gold price to hurt iran as ........
Iran has been pricing oil in other currencies (Euro, Yen, etc) excluding the U.S. dollar, for years now with no ill effect on the value of the dollar.

But even if it hadn't there is no reason, that I can see, why it would be detrimental to the dollar.

Iran also has dealt with sanctions for years. The sanctions have just been getting tougher with the passing of time.

Saudi Ararbia has gladly filled any dropoff Iran has had in the oil market.

I think the only real threat that could effect gold or the dollar seriously is WAR.
  • #17,857
  • Mar 20, 2012 9:46pm Mar 20, 2012 9:46pm
There is some talk on the net about how the USS enterprise will be attacked by the US or Israel and then blamed on Iran as a precursor to war. The USS enterprise is due to be decommissioned next year so some have speculated why an old ship due to be converted to scrap metal would be chosen to be the flag ship of the fleet. Pretty crazy theory but hey it's a crazy world. For Iraq and Libya the excuse was we need to "liberate" the people. Well with Iraq it was initially WMD but that was BS so they said we need to free the people from evil Saddam. With Iran the current excuse is nuclear weapons even though there is no evidence of it. The free the people excuse doesn't work as well as their society and people have more rights, particularly women. They do hate Israel and Israel is super paranoid about being attacked. Blowing up their own ship and killing their own soldiers is pretty hardcore though, I can't see it happening IMO.

Both Iraq and Libya wanted to trade oil in currencies other than the dollar, the reserve currency. Now Iran wants to do the same (I think they've already done it). That's the real reason the US want to attack these countries.
  • #17,858
  • Mar 20, 2012 11:23pm Mar 20, 2012 11:23pm
Quoting birons
There is some talk on the net about how the USS enterprise will be attacked by the US or Israel and then blamed on Iran as a precursor to war. The USS enterprise is due to be decommissioned next year so some have speculated why an old ship due to be converted to scrap metal would be chosen to be the flag ship of the fleet. Pretty crazy theory but hey it's a crazy world. For Iraq and Libya the excuse was we need to "liberate" the people. Well with Iraq it was initially WMD but that was BS so they said we need to free the people from evil Saddam....
Thanks for the us enterprise knowledge, i thought it was a company or something but it is a ship
I doubt an attack on it, specially now when the word is out.
  • #17,859
  • Mar 21, 2012 12:00am Mar 21, 2012 12:00am
Quoting bumapatria
spring equinox is here, falling price, and check out the price to time projection. points to this date. fib time ranges included as well.
Can you please give me a date according to your charts for $2000 gold? I want to test Astrology

youtube.com/watch?v=iwCAwc4bge4
  • #17,860
  • Mar 21, 2012 3:23am Mar 21, 2012 3:23am
Quoting forexfacts
Can you please give me a date according to your charts for $2000 gold? I want to test Astrology

youtube.com/watch?v=iwCAwc4bge4

Suggest you check out the efficacy of chicken giblets and tea leaves too

beeb
82 traders viewing now