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Silver trade calls

  • #21
  • Sep 2, 2009 4:10pm Sep 2, 2009 4:10pm
Quoting Slight
Yep, can see that for some quick scalps.
I like to go with the trends ...
I'm a scalper baby! Unless a scalp becomes a trade, but even then I ensure to be 100% cash by the time the market closes. But you are right that it is usually better to go with the trend than against
  • #22
  • Sep 2, 2009 4:18pm Sep 2, 2009 4:18pm
I suppose both works, just depends on what you like better. Intraday is a lot more hassle .. longer trades take patience. As long as you're getting more and more profitable it's all goood.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #23
  • Sep 3, 2009 4:11pm Sep 3, 2009 4:11pm
Quoting Slight
looooonng
You made alot of money today! And so did I

Posted my daily charts here.

Tomorrow I won't trade as it's NFP day, but I will be around to look at the action.
  • #24
  • Sep 3, 2009 4:12pm Sep 3, 2009 4:12pm
Nice wednesday and thursday we saw in silver (and gold...). Price shooting up that much is almost scary. I think it's going to continue upwards even if not with that much speed. We'll see, but I get the feeling we are getting a good trend upwards here now, especially since it almost broke the weekly fractal today already .. shouldn't be too long until a buy signal occurs there as well.

@hell: I only trade dailies .. like to catch the entire price movements of some weeks.
Attached Image (click to enlarge)
Click to Enlarge Name: slv.gif Size: 33 KB
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #25
  • Sep 3, 2009 4:22pm Sep 3, 2009 4:22pm
Quoting Slight
Nice wednesday and thursday we saw in silver (and gold...). Price shooting up that much is almost scary. I think it's going to continue upwards even if not with that much speed. We'll see, but I get the feeling we are getting a good trend upwards here now, especially since it almost broke the weekly fractal today already .. shouldn't be too long until a buy signal occurs there as well.

@hell: I only trade dailies .. like to catch the entire price movements of some weeks.
And a good week you had, congrats!

Question: looking at your chart this looks like a perfect double top. Is that so? On my chart price overshot by about 0.1 dollar, and as I'm a perfectionist I do not consider that a double top
  • #26
  • Sep 3, 2009 4:38pm Sep 3, 2009 4:38pm
Quoting Hell7
And a good week you had, congrats!

Question: looking at your chart this looks like a perfect double top. Is that so? On my chart price overshot by about 0.1 dollar, and as I'm a perfectionist I do not consider that a double top
The same is true for price on my chart.
I honestly have to tell you that I don't care about double tops, dojis, hammers, descending triangles or all the stuff of pure technical anaylsis. I look at it from the wave perspective. And they are telling me that this is going higher. So, I just ignore what would be a double top and stay long

This is really looking at it from what it looks like would be a longer timespan for you. I don't care what price does until it closes below the green MA-line that you see on my chart. That means, I trade off of the dailies and don't bother about smaller retracements.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #27
  • Sep 3, 2009 4:51pm Sep 3, 2009 4:51pm
Quoting Slight
I honestly have to tell you that I don't care about double tops, dojis, hammers, descending triangles or all the stuff of pure technical anaylsis. I look at it from the wave perspective. And they are telling me that this is going higher. So, I just ignore what would be a double top and stay long
I don't care about wave analysis - to many maybe's (maybe we are in wave 3 of 5 etc).

But can you show a chart with your wave count anyway?
  • #28
  • Sep 3, 2009 5:07pm Sep 3, 2009 5:07pm
Weeell, I don't exactly count them. I only care about waves when I see an entire elliott wave sequence ending, and to show me where the corrections and sidewave moving markets are going to be. I don't go "this is wave 1 of 3 of a of 5." That doesn't work, at least not for me. I stay with the overall trend and buy and sell based on fractals and divergent bars. That means I will always trade with the direction of the overall elliott wave sequence, whether it's a 5-wave move or 3-wave move, and never go against it until I see it ending in the indicator which you see at the bottom of my charts. It tells me what wave we are in, but as I said, it really is only important at certain times of a sequence.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #29
  • Sep 5, 2009 9:07am Sep 5, 2009 9:07am
I posted my daily silver chart here.
  • #30
  • Sep 7, 2009 2:23pm Sep 7, 2009 2:23pm
Today didn't bring much action - it seems we need the unstoppable bullishness of the Americans to break higher. My daily chart is posted here
  • #31
  • Sep 8, 2009 3:40pm Sep 8, 2009 3:40pm
Price tried to move higher but failed miserably

My daily chart is posted here
  • #32
  • Sep 9, 2009 9:02am Sep 9, 2009 9:02am
Quoting Hell7
Price tried to move higher but failed miserably
Not so miserable after all. On my chart it didn't close as a div bar, pinbar, hanging man or whatever you want to call it. After being down a little today we're already back at the pricelevel of yesterday's close. However, I believe we might see a retrace pretty soon. I hope not too far down so the uptrend stays intact for moves higher than what we're seeing now.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #33
  • Sep 9, 2009 9:15am Sep 9, 2009 9:15am
Quoting Slight
Not so miserable after all. On my chart it didn't close as a div bar, pinbar, hanging man or whatever you want to call it. After being down a little today we're already back at the pricelevel of yesterday's close. However, I believe we might see a retrace pretty soon. I hope not too far down so the uptrend stays intact for moves higher than what we're seeing now.
Still I had a great time shorting during euro-session Now flat, deciding whether or not to enter short again. The reason I'm doubting is that price broke out of a flag on the lower timeframes.
  • #34
  • Sep 9, 2009 3:57pm Sep 9, 2009 3:57pm
My daily chart is posted here
  • #35
  • Sep 10, 2009 4:09pm Sep 10, 2009 4:09pm
2 great shorts today, but had to close the third break even as silver didn't want to go down that time.

I'm still thinking shorts, but the chart does look a lot more bullish after today.
Attached Image (click to enlarge)
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  • #36
  • Sep 12, 2009 9:07am Sep 12, 2009 9:07am
I posted my daily chart on my blog.

Slight, are you still long? if so, where is your stop-loss now?
  • #37
  • Sep 12, 2009 9:13am Sep 12, 2009 9:13am
I am still long, yes. My current stop is just above BE. I keep it far away from the current price to avoid being kicked out by some intraday retracement. For now, I will keep it at where it is to protect my position. The actual exit, however, will occur as soon as price closes below the green MA line.
Attached Image (click to enlarge)
Click to Enlarge Name: slv.gif Size: 29 KB
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #38
  • Sep 15, 2009 7:22am Sep 15, 2009 7:22am
Hell7, my stop is now at 15,9 .. giving it some room to move and securing profits, but I'll still exit as soon as price closes below green line as indicated above.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #39
  • Sep 15, 2009 9:24am Sep 15, 2009 9:24am
Quoting Slight
Hell7, my stop is now at 15,9 .. giving it some room to move and securing profits, but I'll still exit as soon as price closes below green line as indicated above.


I haven't touched silver or gold in a few days - I'm waiting for better levels to either buy or sell.
I am having fun shorting spikes in natural gas today though
  • #40
  • Sep 15, 2009 9:37am Sep 15, 2009 9:37am
heheh, good for you. It looks as if silver doesn't want to go down too much. I think my stop at 15,9 won't be hit before trend resumes upwards.. let's wait and see
are you only doing intraday?
The Essentials of Trading: Emotions, Risk Mgt, Price.
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