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

  • #6,081
  • May 9, 2011 3:23am May 9, 2011 3:23am
Good morning everybody. Ready for battle?

Quoting XTrade
- a 1.00 Usd move in Gold should equal 100 pips.
- a usual spread in gold is 50 cents to enter. Or in other words 50 pips.
So assuming on any average day gold swings at least 10 bucks.
This would equal 1000 pips.
You know what? The pip definition in gold is still very confusing to me. Usually I consider that the spread is always one-digit long. Therefore $0.50 would mean 5 pips, 1 pip = $0.10. But that's just a matter of convention, it doesn't make any difference on the daily trading anyway...

XAU is back above 1500. Who was talking of a dead-cat bounce?
"The reason I was born and came into the world is to testify to the truth."
  • #6,082
  • May 9, 2011 3:24am May 9, 2011 3:24am
beeb already posted elsewhere:

also very interesting PA on XAUUSD as it attempts for 1511 WP and 1515 MP, also the upwards sloping lower channel band, which used to be supp will be tested as resistance = tempting to short sell that mofo for WS1 at a whopping 1446. Will prolly risk 5 on this trade to get 50 / so R:R is more than decent. + 2/b down (1440 & 1420)
  • #6,083
  • May 9, 2011 3:28am May 9, 2011 3:28am
Quoting lilpip
I have to agree that speed was amazing, ya got to hand it to the banks their working like hell trying to square their books. They new they had to give room to run up and being short all the way, and hit hard with their shorts all the way down.
The only thing was we had their playbbook and the play, didnt antcipate that speed though.
Also, a heads up for mm in the future just in case one was to get caught on the wrong side, gotta be able to pull oneself out.
mon. silver
41.49
38.78
32.25
with eye on 36.87 response.
mon.gold
1538
1509
1458
with...
anyway the more moves we see and have, the more data we will get
Hero calls followed by margin calls...
  • #6,084
  • May 9, 2011 3:28am May 9, 2011 3:28am
Quoting ruffryders
beeb already posted elsewhere:

also very interesting PA on XAUUSD as it attempts for 1511 WP and 1515 MP, also the upwards sloping lower channel band, which used to be supp will be tested as resistance = tempting to short sell that mofo for WS1 at a whopping 1446. Will prolly risk 5 on this trade to get 50 / so R:R is more than decent. + 2/b down (1440 & 1420)

well could you link to the post number? i appreciate your comments but don't have time to trawl throught the thread every time someone posts.....

thanks again

beeb
  • #6,085
  • May 9, 2011 3:29am May 9, 2011 3:29am
Quoting ruffryders
beeb already posted elsewhere:

also very interesting PA on XAUUSD as it attempts for 1511 WP and 1515 MP, also the upwards sloping lower channel band, which used to be supp will be tested as resistance = tempting to short sell that mofo for WS1 at a whopping 1446. Will prolly risk 5 on this trade to get 50 / so R:R is more than decent. + 2/b down (1440 & 1420)
Trying to buy in dips is a better option after the correction we just had. $1600 loos to be a much easier target now IMO.
  • #6,086
  • May 9, 2011 3:56am May 9, 2011 3:56am
5min GC fork - mod schiff from the low:

http://www.screencast.com/t/bDoz0xuf1Cm

beeb
  • #6,087
  • May 9, 2011 5:09am May 9, 2011 5:09am
Interesting read: http://www.dtnprogressivefarmer.com/...2de73f78c7033c

Massive Passives

"In the run-up to the financial crisis of 2008, we saw an enormous shift in speculative money coming into futures markets. Over a several-year period, roughly $200 billion in speculative money came into these markets."



... and in 2010 we got part of QE2's $600 billion over it...



"The Massive Passives are different from traditional speculators in that they are somewhat price indifferent; they pretty much go long and stay long. They often include huge hedge funds, pension funds and index funds."


I love that part! The big hedge funds gather money from small investors, make a bunch of $billions and enter a market (like gold and silver) at any price, top or bottom - THEY are the ones who overbuy a market. If they are profitable, great; if not, they blame the market and tell the small investors they are sorry.



"In fact, between June of 2008 and October of 2010, futures equivalent contracts held by Massive Passives increased 47 percent in energy contracts, 20 percent in metals and 18 percent in agricultural commodities."


No wonder we see a smaller market (like silver) moving straight up and then "crashing" at profit-taking.



"The sheer size of concentrated speculative interests has the potential of moving markets, of influencing true price discovery. That can make life difficult for the hedgers who use markets to manage commercial business risks, and for consumers who rely upon them to fairly price just about everything they purchase."

We may continue our arguments about endless uptrends, oversold signals and expected corrections, but those speculators will influence the "natural" market movements in a way that it becomes virtually impossible to take "logical" decisions and be confident about profits. It looked "obvious" that we should short silver at $43 or $46, but the market moved further - would you have held those shorts up to $49.70? Or after the profit-taking, are you sure that the prices will move up in the same way if those "Massive Passives" don't enter their longs again?
"The reason I was born and came into the world is to testify to the truth."
  • #6,088
  • May 9, 2011 5:09am May 9, 2011 5:09am
Quoting balanisuresh
is there any way that i can get offline indicator crossover alerts (like 10 ema X 20 ema crossover) on 15 min and 60 min timeframe on email or SMS (in India) for spot gold and silver market

kind attention: beeb if possible plz advice
  • #6,089
  • May 9, 2011 5:10am May 9, 2011 5:10am
Quoting balanisuresh
kind attention: beeb if possible plz advice
not that i know..

beeb
  • #6,090
  • May 9, 2011 5:19am May 9, 2011 5:19am
Quoting balanisuresh
kind attention: beeb if possible plz advice
you can create an Metatrader demo account and write an External Advisor which does what you said. EAs can send e-mails.
"The reason I was born and came into the world is to testify to the truth."
  • #6,091
  • May 9, 2011 5:38am May 9, 2011 5:38am
gretings and good trades for all ,
i have a question about gold (XAU/USD) please.
i just cant be clear about pip values and profit/loss.
as an exemple , today ,
xau/usd moved from to 1.503.00 to 1.505.00

in comparison GBP/USD for exemple ,
how many pips and profit/ loss does it makes ?
10 pips or 20 pips , or 50 pips ? 20 pips i suppose ?
thanks ..
the best indicator is trader's knowledge , experience and dicipline.
  • #6,092
  • May 9, 2011 5:55am May 9, 2011 5:55am
Quoting harvest3r
you can create an Metatrader demo account and write an External Advisor which does what you said. EAs can send e-mails.

Thanks sir,

i know sir, but then i need to keep the terminal connected?....i was looking for third party provider...in case u r aware or know any one who might be aware.

Thanx again
  • #6,093
  • May 9, 2011 6:50am May 9, 2011 6:50am
Quoting fx-season
gretings and good trades for all ,
i have a question about gold (XAU/USD) please.
i just cant be clear about pip values and profit/loss.
as an exemple , today ,
xau/usd moved from to 1.503.00 to 1.505.00

in comparison GBP/USD for exemple ,
how many pips and profit/ loss does it makes ?
10 pips or 20 pips , or 50 pips ? 20 pips i suppose ?
thanks ..
I would call a move from 1503- 1505 a 20 pip/point move. Im not sure is it correct to use points in gold or pips.
  • #6,094
  • May 9, 2011 7:45am May 9, 2011 7:45am
Progress scalping position seems ok so far & expecting a bo , as eu did already .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 11 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #6,095
  • May 9, 2011 8:21am May 9, 2011 8:21am
You talk a lot of s#IT here and don't put much up to back it up.

First warning.

Quoting Fmfx
I am not, sorry but YOU may very will be if you think the commodity prices go only up! $100 correction in gold and $17 in silver in a couple of days. Call them what you want. I shorted Gold while you were calling people names and now I am BUYING gold $100 cheaper. I do not care about top or bottom. I sell at higher prices and buy at lower ones.

Good luck with you one-way strategy dude.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,096
  • May 9, 2011 8:21am May 9, 2011 8:21am
You are welcome.


Quoting FX4Newbies
Hello XTrade,

Just wanted to say "Thank You" for the detail you share for those who trade here...even the PM newbies. Lots of great traders with good info. posting regularly, but more than that, people with a heart for others. Your passion for what you do comes through...also true for the regulars here. Glad I happened to drop in.

Your recent sharing of your silver purchases was also fun to see. Your excitement came through.

Thanks again,

FX4
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,097
  • May 9, 2011 8:27am May 9, 2011 8:27am
Here See this post it even has an attachement
http://www.forexfactory.com/showpost...postcount=6151

I WILL ADD IT TO THE FIRST POST SO PEOPLE CAN REMEMBER IT.
Keep in mind this is how an FX BROKER will pay trading SPOT Gold
Not Futures.

" XTRADE"
In terms of making money. Here is the breakdown : In 10 dollar movements
using a cash fx broker trading XAU/USD

.01 Lots ($1,000 value XAU over USD) (or 1 MICRO lot) x 1000 pips or (10 USD move)
= 10 USD in profit

.10 Lots ($10,000) (or 1 MINI lot) x 1000 pips or (10 USD move)
= 100 USD in profit

1.0 Lots or ($100,000) (or 1 STANDARD lot) x 1000 pips or (10 USD move)
= 1000 USD in profit


Quoting fx-season
gretings and good trades for all ,
i have a question about gold (XAU/USD) please.
i just cant be clear about pip values and profit/loss.
as an exemple , today ,
xau/usd moved from to 1.503.00 to 1.505.00

in comparison GBP/USD for exemple ,
how many pips and profit/ loss does it makes ?
10 pips or 20 pips , or 50 pips ? 20 pips i suppose ?
thanks ..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,098
  • May 9, 2011 8:28am May 9, 2011 8:28am
Quoting XTrade
You talk a lot of s#IT here and don't put much up to back it up.

First warning.
Quote:
Post hidden because Fmfx is on your ignore list.
__________________
LOL
I have no idea what he is saying but I must have agreed with you at some point.
  • #6,099
  • May 9, 2011 8:31am May 9, 2011 8:31am
This would be xpressed as such

1503 to 1505 = 2.00 USD OR 200 pips

Each USD = 100 pips.


Quoting highlander2
I would call a move from 1503- 1505 a 20 pip/point move. Im not sure is it correct to use points in gold or pips.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,100
  • May 9, 2011 8:36am May 9, 2011 8:36am
update 5min GC - hope somebody caught it

http://www.screencast.com/t/jRxag8Hb

beeb
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