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Gold Discussion

  • #681
  • Oct 9, 2009 11:53pm Oct 9, 2009 11:53pm
Quoting baovietnam
Hi Pirin
I am new gold trader in viet nam country, I just around 2 months, and alway lost because SL, please teach me basic knowlegdes for gold trading.
Thanks a lot
Quy Bao
im also happen like you.. Now i target to never put SL on the gold trading. Please used the lower size when you trade on gold platform..

If you see the amountis increase, then you can close it..
  • #682
  • Oct 10, 2009 6:19am Oct 10, 2009 6:19am
I posted my weekly & daily chart on my blog
  • #683
  • Oct 10, 2009 6:42am Oct 10, 2009 6:42am
Quoting baovietnam
Hi Pirin
I am new gold trader in viet nam country, I just around 2 months, and alway lost because SL, please teach me basic knowlegdes for gold trading.
Thanks a lot
Quy Bao
Hi Quy,

I find that gold behaves a little less technical then most currencies, and is thus harder to daytrade. So if you are new, it might be better to start with something else.

But if you absolutely want to trade gold, you should be fine if you stick to some basics: go with the trend (which is UP!), wait for a pullback to enter, and use a position that is small enough to place your stop below an important support or (even better) below the previous swing low.

Regards,
Hell7
  • #684
  • Oct 11, 2009 6:48pm Oct 11, 2009 6:48pm
Quoting Hell7
Hi Quy,

I find that gold behaves a little less technical then most currencies, and is thus harder to daytrade. So if you are new, it might be better to start with something else.

But if you absolutely want to trade gold, you should be fine if you stick to some basics: go with the trend (which is UP!), wait for a pullback to enter, and use a position that is small enough to place your stop below an important support or (even better) below the previous swing low.

Regards,
Hell7
That is good advice. I do that all the time.
  • #685
  • Oct 12, 2009 2:26am Oct 12, 2009 2:26am
Dollar strength and the recent rally in gold may be causing some investors to sell gold, but with the ease at which it is going through these psychological round barriers, I’m still buying on every dip. Hedge funds increased their net long positions in the week ended Oct 6 according to USCFTC data.
  • #686
  • Oct 13, 2009 4:08am Oct 13, 2009 4:08am
Hey Pirin
margin call catched?
  • #687
  • Oct 13, 2009 6:20am Oct 13, 2009 6:20am
Quoting Tiger21
Dollar strength and the recent rally in gold may be causing some investors to sell gold, but with the ease at which it is going through these psychological round barriers, I’m still buying on every dip. Hedge funds increased their net long positions in the week ended Oct 6 according to USCFTC data.
Okaaaay... how do you trade that?
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #688
  • Oct 13, 2009 8:57am Oct 13, 2009 8:57am
http://savepic.ru/870235m.png

http://savepic.ru/917338m.png

Volumes at hights:

http://savepic.ru/905050m.png

http://savepic.ru/873306m.png
skype: aleksey_trader
  • #689
  • Oct 13, 2009 4:22pm Oct 13, 2009 4:22pm
I posted my daily chart after Oct. 13, 2009 on my blog
  • #690
  • Oct 14, 2009 12:40am Oct 14, 2009 12:40am
Just thought I would post this up. My wife is from Shanghai, and she knows I trade weekly only in XAU:USD and EUR:USD. She made a really interesting comment last night, that in China all the "TV investment evangelists" are recommending that people move their USD savings 50% to gold or silver. In China (and Asia for that matter), most families have savings and most also keep some of that savings in foreign currency as a hedge against their home currency inflation. She also told me that her family, friends, everybody is buying gold right now......both physical and paper....I found that interesting.

Another interesting bit I heard today, is a close friend received a buyer's mandate from a province in China, to buy crude. Its a massive contract, and apparently all the provinces have been instructed by Beijing to buy and store as much crude as they can. It's China's "quiet dollar dump".
  • #691
  • Oct 14, 2009 1:44am Oct 14, 2009 1:44am
Quoting Machination
She also told me that her family, friends, everybody is buying gold right now......both physical and paper....I found that interesting.
Sounds like a bubble in the making to me ...
  • #692
  • Oct 14, 2009 2:00am Oct 14, 2009 2:00am
Quoting herbarz
Hey Pirin
margin call catched?
nope, every trade of mine is a 0,5 % of my free margin so with a 1:50 leverage it will take at least 50 000 pips against me to even consider the possibility that a margin call can be triggered (if it was a non-hedged position). I've been building long AUD/JPY positions since forever, so I keep earning a positive interest XAU/USD was more like a hedge for those long AUD/JPY-s ... but there was no retrace .... strange I'll keep the positions for a while, gold can't grow forever on speculations of a future inflation. Like everything else it's a market based on real life supply and demand and global demand is falling, and it continues to fall rapidly as price grows, and in the second when the banks decide they have enough of it ... you know where we are heading to Some day XAU/USD will reach 1500 $, but the time isn't right yet, not for me I'll be on the watch for a retrace for a bit longer
  • #693
  • Oct 14, 2009 4:32am Oct 14, 2009 4:32am
Gold hit a record high of $1,068.40 an ounce in early trading, settling at $1,064.20, up $7.50. Hedge against inflation, hedge against volatility, hedge against weak dollar, momentum trading, best store of value, ETF fund accumulation – whatever the reasons the media wants to put on it – I’m continuing to buy gold. Now Taiwan is jumping on the train, announcing that it may consider buying gold, according to central bank Governor Perng Fai-nan.
  • #694
  • Oct 14, 2009 4:38am Oct 14, 2009 4:38am
Maybe the FOMC minutes will breathe some life into the dollar. The NY session should be an interesting one. What are your thoughts? And I thought Obama winning the Nobel would solve the USD's woes. Ok, that was a joke, for those of you wondering.

The Dollar was down versus most majors as global reserves shifting away from the Dollar and demand for higher yielding assets kept dragging it lower. NASDAQ closed almost flat with 0.04% and Dow Jones declined by 0.15% , Crude rose by 1.2% to a 7 week high closing at 74.89$ a barrel as global demand is expected to rise. Gold (XAU) gained by 0.71% closing at $1063.9 an ounce on the weaker Dollar. Today, Retail Sales are expected weaker with -2% versus 2.7% prior. FOMC's Meeting Minutes will be released, providing insights into the economic conditions. Federal Budget Balance will be released and is expected better with -77.3B versus -111.4B prior.

EUR/USD

Resistance

1.49

1.4955

Support

1.479

1.476

1.4735

  • #695
  • Oct 14, 2009 9:12am Oct 14, 2009 9:12am
Quoting Hell7
Sounds like a bubble in the making to me ...
Yep, the bursting of the USD bubble.......gold was around and will be around a lot longer than the dollar.......
  • #696
  • Oct 15, 2009 3:20am Oct 15, 2009 3:20am
Shall We Touch 1100 !?
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  • #697
  • Oct 15, 2009 4:26am Oct 15, 2009 4:26am
Quoting Roger4X
Shall We Touch 1100 !?
MayB But Not 4 Now...
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  • #698
  • Oct 16, 2009 5:11am Oct 16, 2009 5:11am
Still Bearish !
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  • #699
  • Oct 16, 2009 6:39am Oct 16, 2009 6:39am
Dow 10,000 EUR/USD 150 - what do we think about that? Will the greenback continue to slide through the NY session today or can it reverse the trend? I'm looking at buying USD and selling XAU for a quick hit before the US session. With TIC Net Long term Transactions being reported, wish me luck.

The Euro continued to rise versus the Dollar trading with a low of 1.4843 and with a high of 1.4968 reaching the highest level since September 08. European consumer prices fell for a fourth month in September as energy prices dropped and companies cut jobs and reduced costs to weather the global economic slump.
  • #700
  • Oct 16, 2009 9:49am Oct 16, 2009 9:49am
Quoting Alex-the-Gr8
Dow 10,000 EUR/USD 150 - what do we think about that? Will the greenback continue to slide through the NY session today or can it reverse the trend? I'm looking at buying USD and selling XAU for a quick hit before the US session. With TIC Net Long term Transactions being reported, wish me luck.

The Euro continued to rise versus the Dollar trading with a low of 1.4843 and with a high of 1.4968 reaching the highest level since September 08. European consumer prices fell for a fourth month in September as energy prices dropped and companies cut...
EU is going all the way down into the new week. The same goes to gold but I'm planning to buy more once it hits the bottom & reverse to the upside. To me, gold looks like reaching $1,100 by the end of October & could even hit $1,300 by year's end.
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