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Gold Discussion

  • #101
  • Aug 17, 2006 2:55pm Aug 17, 2006 2:55pm
Gold reacts to all news.. when there is no news about interest statements (economy) it reacts to oil price and inventory, when there is no news about oil price it reacts to news on interest news.. when there is no news about either, it reacts to politics.
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  • #102
  • Aug 17, 2006 3:00pm Aug 17, 2006 3:00pm
Does it worth to trade gold comparing to Forex? My broker offers an 8 pip spread on gold and as you know that means an immediate loss of 80 dollars when you purchase a contract. I'm a little bit concerned about trading it. On the other hand sometimes you see moves over 400 pips in a single day. What do you suggest? Do you trade gold?


Quoting lifetime_trader
Gold reacts to all news.. when there is no news about interest statements (economy) it reacts to oil price and inventory, when there is no news about oil price it reacts to news on interest news.. when there is no news about either, it reacts to politics.
  • #103
  • Aug 17, 2006 6:52pm Aug 17, 2006 6:52pm
The Mid East crisis has subsided and the BP refinery in Alaska will not shut down completely. These helps improve the OIL situation. OIL price down, so will Gold price.

A move in OIL price causes a move in GOLD price as well. This is why OIL is called Black Gold. 2nd statement is simply rhetorical.
  • #104
  • Aug 17, 2006 7:21pm Aug 17, 2006 7:21pm
Quoting aparsai
Does it worth to trade gold comparing to Forex? My broker offers an 8 pip spread on gold and as you know that means an immediate loss of 80 dollars when you purchase a contract. I'm a little bit concerned about trading it. On the other hand sometimes you see moves over 400 pips in a single day. What do you suggest? Do you trade gold?
Is that 8 pips = .08c or .80c? What broker is it?

Oanda offers anywhere from .60c - $2.00+ on their spread for spot.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #105
  • Aug 17, 2006 7:55pm Aug 17, 2006 7:55pm
North Finance has $8~$10 spread for a mini lot placement.
  • #106
  • Aug 17, 2006 8:03pm Aug 17, 2006 8:03pm
Quoting BurgerKing
North Finance has $8~$10 spread for a mini lot placement.
Just for reminders, Interactive Brokers (Where I trade Gold trough) offers direct access to the E-CBOT futures exchange....Spreads are usually 10 to 20 cents for mini & large contracts, which means that spreads are $3.32 to $6.64 for mini contracts & $10 to $20 for large contracts...


Thanks,

Nader
  • #107
  • Aug 17, 2006 8:14pm Aug 17, 2006 8:14pm
Quoting aparsai
Does it worth to trade gold comparing to Forex? My broker offers an 8 pip spread on gold and as you know that means an immediate loss of 80 dollars when you purchase a contract. I'm a little bit concerned about trading it. On the other hand sometimes you see moves over 400 pips in a single day. What do you suggest? Do you trade gold?
I trade Gold sometimes, but I always only take .10 lots.

Gold is not a thing that you would day trade, enter only with a two to three days floating target and ALWAYS move your SL to breakeven once it allows you to. Also because of the illiquid nature of spot metals market (since most trade in futures) you may get problems in exiting at the price you want.

If you have a plan and know where it can/will go next you can try it with .1 lot and test yourself. I find it very diffcult to trade Gold in Spot.
fxtrada.com
  • #108
  • Aug 18, 2006 10:17am Aug 18, 2006 10:17am
Thanks. I'll watch the gold market carefully and see if there are future opportunities.



Quoting lifetime_trader
I trade Gold sometimes, but I always only take .10 lots.

Gold is not a thing that you would day trade, enter only with a two to three days floating target and ALWAYS move your SL to breakeven once it allows you to. Also because of the illiquid nature of spot metals market (since most trade in futures) you may get problems in exiting at the price you want.

If you have a plan and know where it can/will go next you can try it with .1 lot and test yourself. I find it very diffcult to trade Gold in Spot.
  • #109
  • Oct 3, 2006 4:58pm Oct 3, 2006 4:58pm
it was rumored that several Mid-East sellers sold converted their GOLD into EUR thus the drop in gold price and buying of euro just when eur droped to 1.2720s...

gold is now at 570s. looks like a nice bargain price
  • #110
  • Oct 4, 2006 6:14am Oct 4, 2006 6:14am
http://photos1.blogger.com/blogger/7...dowgolda.0.jpg

http://photos1.blogger.com/blogger/7...goldoila.0.jpg


1) The Dow Jones Industrial Average made a new all times closing high of 11,727.

2) Gold is sharply lower. Cbot gold trading had another serious malfunction today (not the first one this year…), AMEX GOLD BUGS INDEX is down 6.67% for the day.

3) The Dow / Gold ratio is nearing completion of an A-B-C correction wave – in my opinion.

4) The Gold/Oil ratio closed above its 200 weekly moving average for the first time since early 2004.

for more information and charts of gold ratios, See this post : The importance of the Dow Jones / Gold, Gold / Oil & Gold / Silver ratios.


See also HUI/Gold ratio.
  • #111
  • Oct 4, 2006 11:51am Oct 4, 2006 11:51am
Gold dropped sharply AGAIN!

im buying!
  • #112
  • Oct 4, 2006 2:30pm Oct 4, 2006 2:30pm
F*ck, I am losing a lot. Low oilprices, low inflation and no troubles anywhere. Were is Ahmadinejad when you need him.
  • #113
  • Oct 4, 2006 3:12pm Oct 4, 2006 3:12pm
Quoting JosTheelen
F*ck, I am losing a lot. Low oilprices, low inflation and no troubles anywhere. Were is Ahmadinejad when you need him.
It's great how traders love the dude. He does make things happen!
  • #114
  • Oct 24, 2006 8:00am Oct 24, 2006 8:00am
Gold is continuing its tank today with a strong pre-market drop. Anybody riding this short?
Profit is where readiness meets Opportunity
  • #115
  • Oct 24, 2006 8:13am Oct 24, 2006 8:13am
Quoting FXopportunist
Gold is continuing its tank today with a strong pre-market drop. Anybody riding this short?
Yup! short from 591.2
  • #116
  • Oct 24, 2006 8:35am Oct 24, 2006 8:35am
Very nice short baddison. What else do you trade besides Forex and Gold?
Profit is where readiness meets Opportunity
  • #117
  • Oct 24, 2006 9:13am Oct 24, 2006 9:13am
Quoting FXopportunist
Very nice short baddison. What else do you trade besides Forex and Gold?
Futures, miniDow, mini S&P, coffee, sugar, cattle, lumber....LOL!.....you name it!!

But NO stocks!!
  • #118
  • Oct 24, 2006 10:18am Oct 24, 2006 10:18am
Quoting baddison
Futures, miniDow, mini S&P, coffee, sugar, cattle, lumber....LOL!.....you name it!!

But NO stocks!!
MY goodness! What variety!
I assume you are a technical system trader then?
Profit is where readiness meets Opportunity
  • #119
  • Oct 25, 2006 7:19am Oct 25, 2006 7:19am
Looks like gold finally found some bargain hunters yesterday. seems to be sitting in the middle of the new range between 570 & 600. Would be a hard place to take new position.
Profit is where readiness meets Opportunity
  • #120
  • Oct 25, 2006 8:44am Oct 25, 2006 8:44am
Quoting FXopportunist
MY goodness! What variety!
I assume you are a technical system trader then?
Yes, TA all the way. But I only take "A" trade setups (....borrowing the phrase from diallist's....). And I swing trade. So trades can sometimes be far and few in between, but that's the way it goes. I scan my charts daily looking for those prime setups. IF there are no setups.....then there are just no trades...
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