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

Should we wait for the price to move up to 1255, or should we just enter a short now?

i think 1246 will hit first am already in short since it was around 1255 earlier today

So GEMY, first its going to 1246 and later back to 1275 ?

Fans , i need some vouchers to start my own thread .. so who believe in me can vouching me . thanks in advance ...

If you're looking to go short, Stert looking around 5% within the HoD. Certainly anywhere above 1255.31 to 1257.31. Below that and before 12h00 GMT is dangerous time to trade. THat's my advice and based upon what my mentor has taught me.

short @1253.99

Anyone itching to get in to trade now should wait until at least the classic turnaround time which is around the changeover to about 45 mins before NY open. We could well be rangebound until then. There's nothing until an hour after that that we might see a change in sentiment.

Alright. I've already entered a short @ 1250.86, but I'm just going to keep it open. What does HoD stand for?

My support only if u going well with numbers today

hahaha ... no i think yesterday is enough .. u own to me with lunch

Yesterday I was at the library reading a book. It was an intruguing read about the reasons people are poor. Not just any reasons, but reasons comparing the attitude of wealthy people to poor people. There were at least 100 reasons that people are poor, but what really made me take notice was that people actually choose to be poor. Of all the reasons that people are poor, the few greatest were that they are too lazy to get up and make their effort pay them their dues. Another was indiscipline. Another was failure to set reasonable targets and plan for their future: not airy candyfloss type dreammy wishing, but serious planning in the finest detail of how they intended to achive that dream of theirs. Examples were given of the usual names like
Bill Gates, Steve Jobs and Richard Branson, Dietrich Mateschitz, Petr Kellner and others. THese are the billionaires. Forget millionaires. I'm talking million millionaires. THey picked their targets, developed the paln to achieve their dreams and went for it like foxhounds affter a fox. Nothing could stop them, not even failure. THeir success was based on the precedent that failures were an opportunity to try again.

Trading is exactly like that. Every day we have an opportunity to trade again and be successful for the day. Forget the pas, the money has no memory of it and neither should you. Successful traders ensure that they have enough equity left over from the last trade that they can trade another 100 times before they worry about their acoount breaking or being margin-called. So before you place that next trade, consider your rules for lowest risk entry as being:

1. Never trade between 15mins post Asian close until earliest 12h00 GMT.
2. Only ever trade within 5% of the high of the day and buy within 5% ofthe low of the day.
3. Exercise the rules of time: Spotted the intersesting candle? Wait another 2 candles before placing your entry. Anything more than 1 min chart means you will always fail this rule and lose money. A simple timing rule that saves you thousands of $ every year.
4. Stick to your rules. They save you from stupidity.
5. If you fail to see an increase of more than 10% on your balance monthly, then you are probably better off putting your money with a broker and not touching it fro 6 months. It's safer, cheaper and less likely to be margin called.

HoD Stands for High of Day / Low of Day.

my FB account for who interested to contact me there to avoid spamming the thread here .. https://www.facebook.com/mohamed.elbshbeshe

LoD is currently at 1249.81. You went short at the LoD. That would have been an amazing entry to go long because it's within 5% of the Low. Basically this means you are already losing and hopin you will make money. This is a failure if you have not put a stop in place to protect your equity no more than 15 pips / $1.50 away @1252.36. Maybe your gamble will pay off, or maybe it won't. It is a very bad idea to gamble on gold. Gold will move $25 in one candle and slip you bill of $25 x your bet if you are wrong. How much you are willing to pay other traders from your account tells how you are thinking about shaving money out of the markets or being scalped by other traders. I wouldn't want to geive them the pleasure of me being wrong by offering another $0.10 more than I had to.

Think carefully about what I wrote at the top of this link: http://www.forexfactory.com/showthre...39#post7114539

Hi All,

Had to change my swing high for percentage change level, as yesterday took longer than I was thinking so trendline was at lower price.




we have a 40% level and a trendline with 4hr hidden div.

I think it is time to go short and hopefully test 1227 (swing lows) I know that it hit long term fib level (78.2) yesterday so it may be a small retracement. and then break trendline to create a bullish trend.

no .. take care . good luck

Interestingly, gold has hit the exact 0.786 fib, broken through with high volume, headed for 0.886 and Low of the day is now in jeopardy of being broken again. 1251 has some support and I am really wondring if this next leg is the determinant on the longer term direction of gold for the day.

guys who are already in short and profit now , close it better and prepare ur trade for up move