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

Good points then Boo Yaa!

Nfp out gold UPSKI!


lets look at silver

what was the result? I still didn't have time to check it

Usually I don't need to care about NFP. My strategy allows me to spread orders in a range up to 700 pips, so NFP doesn't hurt me at all. Actually it's a good opportunity due to the volatility - I love it.

I managed to login two minutes after the anounce... just to see that my orders were triggered at 1354 and bounced to my TP at 1364! Then it came down to 1362, I panicked and closed everything (I still had longs, all the way from 1394) - just to see it return to almost 1370

Whatever. I could have made some EUR 300, but I still got some profit, so what? "Don't worry, be happy".

I hope nobody here was injured during NFP

I had a long at 1357 and closed for profit at 1373. Small profit but enough for me today...I still have 4 longs (one at 1397)

whats your strategy ?

if ı am not wrong seems ıts ready to climb.
good trading..

I'm new to all of this guys. I'm using a CFD. I am paying $.015 five nights a week on every unit of xagusd. This is half of the spread EVERY NIGHT! Am I getting ripped off? Are there brokers where you can hold silver overnight and not pay rollover?
Thanks in advance

(Kitco News) - There’s been much anticipation for aluminum exchange-traded funds as investors seek greater exposure to base metals, and a new ETF based on aluminum companies offers one way to do so.
Global X launched an aluminum ETF focused on the mining companies, which allows investors to get exposure to the metal via a basket of equities. The ETF, which trades under the ticker symbol ALUM on the New York Stock Exchange, debuted Jan. 5 and traded about 40,000 shares in its first day. It tracks the Solactive Global Aluminum Index.

That index is designed to track the performance of the largest and most liquid companies globally active in some aspect of the aluminum industry. Top holdings include Rio Tinto and Alcoa.

Rest of story link here

gold monthly as of dec.close, bias is down from 1384, will be watching how last weeks 1370 responds and once above, 1381-84 response.
1447
1384
1321
weekly
1417
1381
1345

silver bias was down from 30.09 last week, watching how 29.44-30.00 responds.
30.89
29.44
27.99 - 28.22

FXCM micro. I havent seen any rollovers with XAG.

End of the week pinbars are tricky, since people close out their positions before the weekend. Even if you did take the break of the pin, what would be your target?

hi sir
you may be right its tricky
ı just thought despite strong dollar that was second pin in last week, and ı thought dips were bought by some guns......
my anticipation is 1390 and up for the next week. ıt may visit 1350 on the way. my sl below 1350..
ı may be totally wrong.
ı wish you/ and all other traders/ nice trading week..
could you please send your analyse for near term?
thank you in advance

No, I have no idea how to trade. haha!

I see gold correcting to near term 1330 and maybe a mid term 1250 before go 2000+. Just my thoughts, I really have no idea what gold is going to do. I do know at 1250 (if it makes there) I'll be buying physical metal.

*** Not in any gold trades right now, just fyi.

yup, that is possible if dollar keep strong
thank you
good luck

Thanks. I asked them in chat AGAIN what the deal was and I was told THIS time that it had nothing to do with rollover, but was actually a finance charge. Here is their formula. Is this fair? Standard? Or a rip off??

7.1 Financing Shares and Indices
Open positions on relevant instruments carried overnight will result in a financing adjustment
being made to your account. You will incur financing for each calendar day that you rollover a
position, including weekends.
We calculate financing using the applicable benchmark rate (determined by the currency used
to denominate the product in question e.g. LIBOR for GBP) +2.5% for long positions and -2.5%
for short positions.
This means that whether you take a long or a short position you may be debited or credited for
financing.
Overnight financing is calculated in accordance with the following formula:
Financing
No. of CFDs x CFD Price x (applicable interest rate +/- 2.5%)
360/365
NB – This description of overnight financing takes precedence over any other description
contained in the Agreement.
Example:
Take an example of the 2000 long position of VOD. The Mark to market price (closing price)
was 140.25. The notional total value of the position is 2000 X £1.4025 = £2,805 (2000 X 1.4025
= 2805). If you were to borrow £2805 from a bank for one night, you would be charged one
nights’ interest, which is effectively what we will do.
We base our rollover interest rates on an applicable rate, depending on the trade’s currency.
• LIBOR, London Interbank Offer Rate – GBP
• FFER, Federal Funds Effective rate – USD
• EONIA, European Overnight Index rate – EUR
• TOIS, Swiss Tom/Next Indexed Swap – CHF
• RBA36, Reserve Bank of Australia rate – AUD
• NZOCR, New Zealand Official rate – NZD
• TONAR, Tokyo Overnight Average rate – JPY
• HIBOR, Hong Kong Interbank Offered rate – HKD
• SIBOR, Singapore Interbank Offered rate - SGD
At this point we will either add (for a long position) or subtract (for a short position) a
percentage of 2.5 to the applicable rate.
Therefore if we assume that LIBOR (London Interbank Rate) is 4.25%, then the interest payable
overnight will be £0.56p, (2,805 * 6.75% / 360 days). This charge will be shown in your
statement under the heading ‘CFD Position Summary’ and is shown on the row, ‘Interest’. The
actual interest rates used will be displayed on the same row. This way you can compare the cost
of rolling over any of our trades.

gold fall ~5%, silver ~9%

something to consider... I do not believe in sell-off this time, may be after Ben says: enough to print... take my $", than it will commodity sell off till banks clean out FED money from stores, I would like if it comes at march... somehow

but for sure, 1250 or 1237, or even 1000 is a price to buy, look at monthly, if price fall to 1250 - it will brake TL, that's not a paranoia, but FED will not leave us so easy, there must be something to drop commodities before they will buy them ALL

Heh, sorry but thats just too complicated gibberish. I am trading small(micro) so i dont really care for all that. All i know that there seems to be no "rollovers" with the metals, trading with FXCM micro.

There is a screenshot i just toke. Its monday, couple hours before london opens. See the Roll colums:

http://dl.dropbox.com/u/5593306/Pict...o%20metals.png

If there IS a hidden rollover what im not aware off, please tell

I have a standard FXCM account and I got a $0.50 rollover over a $2,000.00 XAGUSD position for one night - and that's the total spread! But when I see the current quotes at the software, it doesn't show any rollover, neither for buy nor for sell. Strange...

I think people call it "cost-averaging". I perform the following steps:

1. open 1 nano-lot
2. every time the market moves against me by 100-pips: open more nano-lots
3. if it moves in my direction by 100-pips: take profit and go to step 1

Step 3 is performed only once an hour.

It can be used in both directions (short and long) at the same time. This strategy is not bad, but you shouldn't try it with less than $15,000

Gold not far away from 1380, euro seems to be finding support for the moment at the 1.29 level... Let's see where we go from here

Hello traders,

Starting to build a short XAU/USD from here at 1383.00.
Daily and above time frames are still long, so this trade should be considered as a counter trend trade with NO complacency for the stops.

Trade will be invalidated if the next 4H candle close above 1387.
Trade positive signal would be a daily close below 1376.40

Trade TF: 4H chart
Trade logic: Shorting the first pullback after a trend change below the 200 sma, the BBL serving as a resistance
Target 1: A new low, below the latest one at 1.352
Target 2: Below 1330
Target 3: Free ride, to be determined later

Time to sit tight and wait for the trade to develop, right or wrong...