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

  • #6,161
  • May 10, 2011 12:47pm May 10, 2011 12:47pm
Quoting khizer
Please contribute in this Poll (click on bellow link)

When forex trader (YOU) wake up?




.
I think you should have had something about time zone.
If you are on the west coast you will have to wake up much earlier than someone in London.
  • #6,162
  • May 10, 2011 1:11pm May 10, 2011 1:11pm
TG? last bull? I take it you are scalping? You are on M5 it turns bullish and bearish every five minutes. basically

Quoting redsword11
Attachment



will monitor PA for tg
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,163
  • May 10, 2011 1:30pm May 10, 2011 1:30pm
we may encounter some resistance at 1521 and stiffer at 1531
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,164
  • May 10, 2011 1:36pm May 10, 2011 1:36pm
currently the price is rising.

Quoting Fmfx
$1505 - $1509 sounds like a good one...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #6,165
  • May 10, 2011 1:54pm May 10, 2011 1:54pm
Quoting XTrade
currently the price is rising.
Just think how well these folks would do if they used all the time and effort that they spend going against the trend, actually trading WITH the trend,,,,lol

beeb
  • #6,166
  • May 10, 2011 2:21pm May 10, 2011 2:21pm
I have overlayed them above each other
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-05-10-211117_1023x767_scrot.png Size: 148 KB
Attached File(s)
File Type: zip londonfixes.ods.zip   689 KB | 631 downloads
  • #6,167
  • May 10, 2011 2:29pm May 10, 2011 2:29pm
Quoting beeb
Just think how well these folks would do if they used all the time and effort that they spend going against the trend, actually trading WITH the trend,,,,lol
beeb
Then the trend would instantly change.

Or other strange things would happen. And this is what actually seems to happen all the time, every time when most people have agreed on what the current trend is and all try to trade it. Because all people cannot be allowed to be all on the winning side all the time. Where should the losers come from?
  • #6,168
  • May 10, 2011 2:31pm May 10, 2011 2:31pm
Quoting 7bit
Then the trend would instantly change.

Or other strange things would happen. And this is what actually seems to happen all the time, every time when most people have agreed on what the current trend is and all try to trade it. Because all people cannot be allowed to be all on the winning side all the time. Where should the losers come from?

you don't honestly think the individuals here make any impression on the institutions that run the market.......
  • #6,169
  • May 10, 2011 2:37pm May 10, 2011 2:37pm
Quoting beeb
you don't honestly think the individuals here make any impression on the institutions that run the market.......
The institutions that run the market were included in this statement. At least half of them also seem to have problems predicting the trend.
  • #6,170
  • May 10, 2011 2:43pm May 10, 2011 2:43pm
Quoting 7bit
At least half of them also seem to have problems predicting the trend.
or maybe there's something nefarious afoot...lol

beeb
  • #6,171
  • May 10, 2011 2:54pm May 10, 2011 2:54pm
Not sure what all this is about.
When there is a decent trend in place you trade with it.
If you make a mistake the trend will usually come to rescue you, trade against the trend it could well bury you.

That people should trade against the direction of overall price movement to balance the flow of money is crazy.
Yes it is a zero sum equation. If I make money someone has lost some but what the hell. That is why 98% of trading accounts end up bust. It is the same with gambling accounts. A small proportion win the rest lose.

The idea is to make sure you are in the winning number.
  • #6,172
  • May 10, 2011 2:56pm May 10, 2011 2:56pm
agree

beeb
  • #6,173
  • May 10, 2011 3:28pm May 10, 2011 3:28pm
Good morning all,

Well.. last night was a bit uneventfull, tight range on gold stopped me from adding another long like i wanted too if we held above 1518.

my long from audusd played out well from 1.782 closing it this morning at 1.84

Hoping the asian session today can give gold the boost up and break through the 1521 resistance and hold.

Alot of CNY data out today, hopefully strong production figures can boost gold/silv

Hope everyones trades are doing well

Mitch
  • #6,174
  • May 10, 2011 3:35pm May 10, 2011 3:35pm
interesting how oil recieved a margin increase, yet the price decided to climb
  • #6,175
  • May 10, 2011 4:07pm May 10, 2011 4:07pm
Quoting Mitchoss
interesting how oil recieved a margin increase, yet the price decided to climb
Well depends on how much oil is traded speculatively and how much is traded for end users/hedging.
Is price dependant on supply/consumption or supply/speculation?

My guess is a lot of it is traded for end consumption. The oil will be delivered, unlike silver for example where traders may take a cash settlement in lieu of physical silver.

Perhaps those who buy spot oil or forward buy are after the real thing instead of churning paper. Those who need the oil will pay the margin because they need the oil and they're not buying more than they need.
  • #6,176
  • May 10, 2011 4:25pm May 10, 2011 4:25pm
Quoting beeb
Just think how well these folks would do if they used all the time and effort that they spend going against the trend, actually trading WITH the trend,,,,lol

beeb
I am NOT the against trend. After closing my shorts, I have been adding to my longs from 1464, 1485, 1499 and 1507 from this morning.

I was referring to a possible target for someone else's question about their recent short.

Personally I will not short gold until we reach 1630-1650 which I guess will be mid summer.
  • #6,177
  • May 10, 2011 4:27pm May 10, 2011 4:27pm
Quoting XTrade
currently the price is rising.
See my previous post.
  • #6,178
  • May 10, 2011 5:09pm May 10, 2011 5:09pm
Looking to buy the next dip on silver, hopefully around the 37.8 mark
  • #6,179
  • May 10, 2011 6:46pm May 10, 2011 6:46pm
Excellent green week. We are going directly to 1550. Then in the coming weeks to 1600 and the SKY is the limit for GOLD.

Thursday and specially Friday will be more green than Mon-Wed.
The Black Swan: The Impact of the Highly Improbable
  • #6,180
  • May 10, 2011 7:01pm May 10, 2011 7:01pm
Quoting MapleLeaf
Excellent green week. We are going directly to 1550. Then in the coming weeks to 1600 and the SKY is the limit for GOLD.

Thursday and specially Friday will be more green than Mon-Wed.
Agreed
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