XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 1166 | Crypto Craft

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

  • #23,301
  • Apr 12, 2013 1:02pm Apr 12, 2013 1:02pm
Quote
Kingworldnews.com

I've seen this kind of comments before from these guys. They tend to see a bottom at any level of price.
  • #23,302
  • Apr 12, 2013 1:44pm Apr 12, 2013 1:44pm
I'm definitely not a gold bug suntrader. Don't own an ounce and never will as its pretty ridiculous to think we will go back bartering with gold. I am interested in what people think the fed and conduit banks for the fed will do with the gold price. I feel that's a clear "edge" that we can all profit on.

I only need the charts over the last few months to tell me whats up here. Gold rallies justifiably so and then a few days later plummets to the previous price. It would be so nice to see the FBI raid the fed and these super banks and get independent auditors in there and find out what they have been up to. lol. Of course it would be game over at that point.

My thinking is they will shove it down to somewhere around late 1300s, like 1380 or 70. Just enough to get anyone interested in buying out of the market and they will start buying around there.

In the meantime, I think we will gap up over the weekend, but I don't think we will see the previous support tested before heading down though.

Oh and if you don't believe the fed is feeding these super banks billions to manipulate prices in their favor you are certainly delusional or apart of the problem.

The only question at this point in when does the 700 trillion dollar gorilla derivatives markets explode, next week, next year, or whenever. It will certainly will end badly though.
  • #23,303
  • Apr 12, 2013 1:44pm Apr 12, 2013 1:44pm
Quoting dashokkumar
This is scary I have 3 positions open Buy @1618 - 50 Buy @1582 - 20 Buy @1545 - 5 Equity 1,708 Balance 9,213 Open P/L -7,505 Available Margin 1,330 Total Margin 1.13% Net exposure 151,120 Can any one suggest on what to do? Looks really scary my Margin and my Equity is reducing by the minute. If the XAU touches 1.4400 I will be out of money and lose all that I have. Please help
I am not experienced and I also have bad money management, but you should at least use some money management. If you donīt want to use S/L (me sometimes too, because it bounce from S/L and then turn in my direction), set how much you want maximally lose. What is your currency? Or you could use scalping (short-time trades with big lots, taking small lose or profit, especially when there is a strong trend, you could take some little pips with it). Or wait with the gold, it is maybe manipulation, but I canīt say it surely.
  • #23,304
  • Apr 12, 2013 2:19pm Apr 12, 2013 2:19pm
Quoting Becel
.......
Gold rallies justifiably so and then a few days later plummets to the previous price.....
.......
Why? Oh that's right, traders covering their shorts.

Then Gold justifiably goes down some more.

New shorts and panicked longs knocked out of their positions.

Round and round - until a bottom is found.

No matter what the Fed or ECB or JCB or BOE does or doesn't do.

Do you care why though.

I stopped watching cable tv political and business pundits ranting about why since they never really propose anything radically different than what has been done to this point. I can't change things so I go with the flow, whatever flow that is. All we can do.
  • #23,305
  • Apr 12, 2013 5:44pm Apr 12, 2013 5:44pm
Quoting SunTrader
I can't change things so I go with the flow, whatever flow that is. All we can do.
.....the Holy Grail of the KISS Principle!!

Well said, SunTrader, trading is so much easier when I block out "reasons" for moves and just go where the price action dictates
  • #23,306
  • Apr 12, 2013 5:45pm Apr 12, 2013 5:45pm
Now this is quite funny, and also pathetic and ridiculous.

When probably a lot of traders go long in XAUUSD, what happens? It hits a LOWER LOW, the lowest since June 2011.

But, yeah, let's blame the traders, huh. It's always the trader's fault, right?...
Attached Image (click to enlarge)
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The Black Swan: The Impact of the Highly Improbable
  • #23,307
  • Apr 12, 2013 6:15pm Apr 12, 2013 6:15pm
Quoting MapleLeaf
Now this is quite funny, and also pathetic and ridiculous. When probably a lot of traders go long in XAUUSD, what happens? It hits a LOWER LOW, the lowest since June 2011. But, yeah, let's blame the traders, huh. It's always the trader's fault, right?... {image}
Well, if "big money" is keen to sell at lower prices while you think it's time to buy, obviously they will take your money. They can be 5 guys with really big pockets, and the remaining traders can be thousands with small pockets. Who do you think will move the market? It's supply and demand.
  • #23,308
  • Apr 12, 2013 6:21pm Apr 12, 2013 6:21pm
Via twitter

Quote
TradingView ‏@tradingview3h
$XAUUSD chart by olajide11: http://www.tradingview.com/v/TggzGpQv/ AB=CD ALSO WAVE 5 TO COMPLETE @ 1.618 LEVEL.

TradingView ‏@tradingview1h
$XAUUSD chart by olajide11: http://www.tradingview.com/v/Ut2ShHvG/ DOUBLE ZIGZAG COMPLEX CORRECTION PATTERN .
  • #23,309
  • Apr 12, 2013 6:29pm Apr 12, 2013 6:29pm
Quoting dashokkumar
This is scary I have 3 positions open Buy @1618 - 50 Buy @1582 - 20 Buy @1545 - 5 Equity 1,708 Balance 9,213 Open P/L -7,505 Available Margin 1,330 Total Margin 1.13% Net exposure 151,120 Can any one suggest on what to do? Looks really scary my Margin and my Equity is reducing by the minute. If the XAU touches 1.4400 I will be out of money and lose all that I have. Please help
You are more likely in the casino with your model
  • #23,310
  • Apr 12, 2013 6:29pm Apr 12, 2013 6:29pm
Quoting dashokkumar
This is scary I have 3 positions open Buy @1618 - 50 Buy @1582 - 20 Buy @1545 - 5 Equity 1,708 Balance 9,213 Open P/L -7,505 Available Margin 1,330 Total Margin 1.13% Net exposure 151,120 Can any one suggest on what to do? Looks really scary my Margin and my Equity is reducing by the minute. If the XAU touches 1.4400 I will be out of money and lose all that I have. Please help

Ouch, that hurts, man. Feel sorry for you. Damn...

People calling this "a business like any other", are Full Of UTTER S..T...
The Black Swan: The Impact of the Highly Improbable
  • #23,311
  • Apr 13, 2013 12:32am Apr 13, 2013 12:32am
what happened in this panic ugly Friday is such a blatant manipulation, they played with our minds, working on human psychology for their goals, used some bloggers and news article to force us to recover our short positions, and go long as much as we able to.. first time I see a price moves that fast against news and traders deals.. I will never read any article anticipated prices movement again it's just a F**** mafia... we need to share our expectations here, I guess most of traders had to hedge, so we need to get out of this mess safely, this price area is really strange for me, I never deal with gold at this price, no doubt the price will rally again, but the question is when would that be? I upload my chart, I see a divergence on RSI.. and I think first support is 1470 then 1430, what do you think guys
Attached Image (click to enlarge)
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never be greedy
  • #23,312
  • Apr 13, 2013 6:30am Apr 13, 2013 6:30am
24.5
if silver reached this point.
then i guess it is good bye to my account.
:-)
the only reason it does not bother me that much because i trade for a second income, i have a stable job. and i funded my account with around my one month salary.
but i am going to buy physical silver and gold if silver hit 24.5, and gold hit 1350. which is looking very obvious. and then i will try to buy as much in this year until the December.
my plan is to keep custody of metals for next 8 - 10 years.

if silver and gold didnt goes down and bounced upwards then nothing is better than that.


any one care to give their opinion will be welcome. i learned from this thread a lot. most important lesson is analysis do fail when you depend on them too much.

it just like the exams, you didn't prepare 2 chapters out of 16, most questions came from those two chapters.
  • #23,313
  • Apr 13, 2013 6:49am Apr 13, 2013 6:49am
just my 2 cent view ...cheeerrss =))
Attached Image (click to enlarge)
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  • #23,314
  • Apr 13, 2013 6:51am Apr 13, 2013 6:51am
martingale stories.
http://classic.zulutrade.com/TradeHi...aspx?pid=63559
http://classic.zulutrade.com/TradeHi...aspx?pid=73013
http://classic.zulutrade.com/TradeHi...aspx?pid=46871
http://classic.zulutrade.com/TradeHi...aspx?pid=58129
  • #23,315
  • Apr 13, 2013 6:56am Apr 13, 2013 6:56am
Quoting entheos
martingale stories. http://classic.zulutrade.com/TradeHi...aspx?pid=63559 http://classic.zulutrade.com/TradeHi...aspx?pid=73013 http://classic.zulutrade.com/TradeHi...aspx?pid=46871 http://classic.zulutrade.com/TradeHi...aspx?pid=58129
http://my.jetscreenshot.com/demo/201...ifzp-134kb.jpg
  • #23,316
  • Edited 3:17pm Apr 13, 2013 1:52pm | Edited 3:17pm
Didn't realize Goldman Sachs came out with recommendation to sell Gold on Wednesday targeting $1250.00. WTF? Unfortunately, I was out most of the week and didn't see the news. May be the beginning of sentiment shift into dumping gold in panic. Guess we need to sell rallies moving forward. Whoever is long Gold, you should probably look to hedge in order to stop the bleeding. GL this week. Enjoy this new vid by Peter Schiff. Peter Schiff thinks the sell off will continue into next Tuesday before any pullback. Let's see. I just don't see any support until we hit 1437.50 area. If we blow past that, Look out for 1320.00 area eventually as next target. This is looking like GBP/USD repeat from a month or so ago, when it broke major multi year support. Could be another making similar to that.


Inserted Video
  • #23,317
  • Apr 13, 2013 10:11pm Apr 13, 2013 10:11pm
Quoting dashokkumar
This is scary I have 3 positions open Buy @1618 - 50 Buy @1582 - 20 Buy @1545 - 5 Equity 1,708 Balance 9,213 Open P/L -7,505 Available Margin 1,330 Total Margin 1.13% Net exposure 151,120 Can any one suggest on what to do? Looks really scary my Margin and my Equity is reducing by the minute. If the XAU touches 1.4400 I will be out of money and lose all that I have. Please help
open a hedge these positions. This madness must not continue for long, and, if dropped, even reach 1300, one day she rises. If you do not understand the process can send me an email.


http://pipmistress.blogspot.com.br/2...-strategy.html
  • #23,318
  • Apr 14, 2013 1:57am Apr 14, 2013 1:57am
Quoting syedhsg
24.5 if silver reached this point. then i guess it is good bye to my account. :-) the only reason it does not bother me that much because i trade for a second income, i have a stable job. and i funded my account with around my one month salary. but i am going to buy physical silver and gold if silver hit 24.5, and gold hit 1350. which is looking very obvious. and then i will try to buy as much in this year until the December. my plan is to keep custody of metals for next 8 - 10 years. if silver and gold didnt goes down and bounced upwards then nothing...
I think we are in the same position and with similar account sizes, i just sent over money to double the account so i can handle the drawdown, I may hedge the silver position if it keeps on falling but you gotta be careful no to hedge at the bottom!
  • #23,319
  • Apr 14, 2013 2:00am Apr 14, 2013 2:00am
Quoting MapleLeaf
Ouch, that hurts, man. Feel sorry for you. Damn... People calling this "a business like any other", are Full Of UTTER S..T...
Money management is a must in the trade business. It does you good to close the trade if you think you no longer can handle the red. Otherwise, hold on them.
  • #23,320
  • Apr 14, 2013 5:15am Apr 14, 2013 5:15am
Quoting tafy68
I think we are in the same position and with similar account sizes, i just sent over money to double the account so i can handle the drawdown, I may hedge the silver position if it keeps on falling but you gotta be careful no to hedge at the bottom!

i have money saved in another larger account.
and i am going to withdraw it . and leaving this account as it is. if it bounced back before hitting 24.5 then no worries. if this account closed i am going to buy silver physically as much i can. and going to hold it for long long term.
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