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

  • #7,261
  • Jun 17, 2011 2:55pm Jun 17, 2011 2:55pm
Quoting XTrade
WHat do you mean?

The spread is 50 cents - Per lot, of what size you trade.


Let's say you are trading EUR USD and the spread is 2 pips for a standard 100,000 of currency lot.

That would make the pip value $10 USD per pip.

If you bought 10 standards your initial trade enter cost would be 10 x 10 so
you would be -100 OTB to take the trade. And each pip would make or break you 100 bucks.

With one standard it would be 10 bucks.

Same with Gold. One standard is 50 cents spread per lot. On a standard lot 100,000 USD worth of XAU that 50...
Thank you for answering. I have searched the thread but couldn't find what I wanted to know. I have seen the answer you have just given me several times, thanks for your patience.

I have thought of a much better way of asking my question:-

Does the spread in gold work the same way as forex? So if the spread is 50 cents, price has to go in my favour for 50 cents before I break even or do I have to pay up front for the trade?

Again, thanks for your patience.
  • #7,262
  • Jun 17, 2011 3:10pm Jun 17, 2011 3:10pm
Quoting mmudasir
if it breach the resistance of 1540 which i didnt find it will break.it can go down to 1586 again first target.at this level go short with tak profit at least 1506 with stoploss 1546

xtrade are you agree with this??
I Do Not Agree. I'm sure 'X' will respond but here's mine.

There is a probability of a Pullback to the Friday Open of 1,530.00 but I see that as a Potential ADD To Long (Depends on PA there)

IMHO
1,586 Will be achieved but there are a few more battles to be fought before we get there.
1,560
1,565
1,575
then a Sharp Spike to 1,600.
Read & Reap
Take your rewards & reload
  • #7,263
  • Jun 17, 2011 6:34pm Jun 17, 2011 6:34pm
Hi all,

I just received an email today from Forex.com notifying me that starting July 15, they will not be allowing spot metal trading anymore.

Does anyone know which broker will still allow this?
  • #7,264
  • Jun 17, 2011 6:51pm Jun 17, 2011 6:51pm
No such Mail from FXPro
{I track FXP Geneva}
*Edit* That's UK +1 time.
Every Bullet I load is expected to be Straight & True.
Why would I jump the UK Market... Think...

B
  • #7,265
  • Jun 17, 2011 7:41pm Jun 17, 2011 7:41pm
http://traderdannorcini.blogspot.com...uirements.html

not to speculate on things, but the latest move on gold might be due to the lowering of margin requirements.

Gold is still in a pennant formation at the moment, we'll see which side will win next week.

anyway, i'll short it again @ 1550
  • #7,266
  • Jun 17, 2011 8:27pm Jun 17, 2011 8:27pm
Quoting allngap
http://traderdannorcini.blogspot.com...uirements.html

not to speculate on things, but the latest move on gold might be due to the lowering of margin requirements.

Gold is still in a pennant formation at the moment, we'll see which side will win next week.

anyway, i'll short it again @ 1550
No Malice intended.

Fool !

Short Scalp Drops. This is the fodder they needed to take it to the top.
Yes. You will be correct initially. Gold will drop in price but Only because THEY are greedy ba$tards.
IF we Hit 1,550 You better have a Very tight cinch on your your Short Stop.
just a view.
B
  • #7,267
  • Jun 17, 2011 8:40pm Jun 17, 2011 8:40pm
Quoting hadleyma
Hi all,

I just received an email today from Forex.com notifying me that starting July 15, they will not be allowing spot metal trading anymore.

Does anyone know which broker will still allow this?
Me, too

But Forex.com UK still available.
Keep Simple...!
  • #7,268
  • Jun 18, 2011 1:29am Jun 18, 2011 1:29am
Hey guys,

I'd like some feedback from individuals who trade XAU/USD regarding how they think the end of QE2 will affect XAU/USD and their reasoning. That is, if you keep an eye on these things of course.

Regards,
xXTrizzleXx
  • #7,269
  • Jun 18, 2011 3:11am Jun 18, 2011 3:11am
Quoting hadleyma
Hi all,

I just received an email today from Forex.com notifying me that starting July 15, they will not be allowing spot metal trading anymore.

Does anyone know which broker will still allow this?
I trade gold and silver with Oanda normally. Seems ok.
  • #7,270
  • Jun 18, 2011 3:24am Jun 18, 2011 3:24am
Quoting highlander2
I trade gold and silver with Oanda normally. Seems ok.
Me too. Do you think Oanda will force traders out of precious metals in the future?
Is it also illegal to trade PM in the futures market?

THX
  • #7,271
  • Jun 18, 2011 3:36am Jun 18, 2011 3:36am
In my humblest of opinions, I suspect gold will reach 1600 in the not too distant future; although price action is key.

There was an article I once read on this very topic written by some "jail bird".

His name, if I can recall was a M.A. I'm sure this guy didn't land on the moon though. I would also suggest he is right about Australia, but then some people saw this many years ago with all those capital flows fleeing negative real returns.

Have a nice weekend and apologies for barging in like this.

(I only did out of respect for Forex Factory and some of the people commenting here).

KR
giving something back to the forex community.
  • #7,272
  • Jun 18, 2011 3:47am Jun 18, 2011 3:47am
Quoting mmudasir
if it breach the resistance of 1540 which i didnt find it will break.it can go down to 1586 again first target.at this level go short with tak profit at least 1506 with stoploss 1546

care to upload and share ur charts and thoughts ..?
  • #7,273
  • Jun 18, 2011 4:40am Jun 18, 2011 4:40am
Quoting Knight Rider
In my humblest of opinions, I suspect gold will reach 1600 in the not too distant future; although price action is key.

There was an article I once read on this very topic written by some "jail bird".

His name, if I can recall was a M.A. I'm sure this guy didn't land on the moon though. I would also suggest he is right about Australia, but then some people saw this many years ago with all those capital flows fleeing negative real returns.

Have a nice weekend and apologies for barging in like this.

(I only did out of respect for Forex...

I think you are referring to Martin Armstrong - who is google-able.....

re your inquiry concerning gold stocks - my view is that the thread is busy enough talking the metals and perhaps you would be better starting a new thread and linking to it....

beeb
  • #7,274
  • Jun 18, 2011 4:56am Jun 18, 2011 4:56am
Quoting GiorgioM
Me too. Do you think Oanda will force traders out of precious metals in the future?
Is it also illegal to trade PM in the futures market?

THX
I honestly have no idea, I hope not, i like how i can trade units, rater than lots, means i can position myself perfectly as i only have a smallish account.
  • #7,275
  • Jun 18, 2011 6:31am Jun 18, 2011 6:31am
Quoting xXTrizzleXx
Hey guys,

I'd like some feedback from individuals who trade XAU/USD regarding how they think the end of QE2 will affect XAU/USD and their reasoning. That is, if you keep an eye on these things of course.

Regards,
xXTrizzleXx
I'm thinking end of QE2 in name only. THey will somehow re-cycle the money rather than soak it up. Reason is that the economy is still not where they want it to be.

For actual trading of XAU though, i will rely on the technicals, keeping an eye on DXY, XAG, G.CL etc.

I read an interesting article regarding a historic chart of S&P and gold, how it looks almost identical to the s&p and XAU now, and how weakness from last week should not be taken lightly.

I have managed to be on the right side of trades recently but will tread carefully next week.
I have no enemy; I make Incautiousness my Enemy.
  • #7,276
  • Jun 18, 2011 9:06pm Jun 18, 2011 9:06pm
hello can I just gather some opinions and thoughts: in the absolutely worst case scenario for us Gold holders, how low can GOld possibly correct to?

I am heavily long gold and I want to see how much is my maximum loss if gold happens to correct THAT heavily.

I am looking around 1181 level?

My target of gold is $3000 first, then 4000, then 5000 and beyond.
  • #7,277
  • Jun 18, 2011 11:08pm Jun 18, 2011 11:08pm
One small step toward Executive Order 6102 part 2, and one giant leap for corruptcongressmankind. "We wanted to make you aware of some upcoming changes to FOREX.com’s product offering. As a result of the Dodd-Frank Act enacted by US Congress, a new regulation prohibiting US residents from trading over the counter precious metals, including gold and silver, will go into effect on Friday, July 15, 2011. In conjunction with this new regulation, FOREX.com must discontinue metals trading for US residents on Friday, July 15, 2011 at the close of trading at 5pm ET. As a result, all open metals positions must be closed by July 15, 2011 at 5pm ET. We encourage you to wind down your trading activity in these products over the next month in anticipation of the new rule, as any open XAU or XAG positions that remain open prior to July 15, 2011 at approximately 5:00 pm ET will be automatically liquidated
  • #7,278
  • Jun 18, 2011 11:33pm Jun 18, 2011 11:33pm
Looks like the rumors were true.

Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15

http://www.zerohedge.com/article/tra...inning-july-15

.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #7,279
  • Jun 19, 2011 2:38am Jun 19, 2011 2:38am
Various reasons I will discuss tomorrow. Going to catch some zzzzs.

---------------------------------------------------------------------

What is the significance of 1586 any way? I see nothing. It is above the high so cannot be considered resistance until reached.

If price breaks above old high it is likely to take out 1586 in the same move or within the next sessions.

Gold sometimes does move in 5 to 10 USD ($) increments yet, as of now this number seems arbitrary to me. Even the top of the weekly channel first Upper line would be, on test, appx 1600. The overshoot even higher.

More tomorrow.


Quoting mmudasir
if it breach the resistance of 1540 which i didnt find it will break.it can go down to 1586 again first target.at this level go short with tak profit at least 1506 with stoploss 1546

xtrade are you agree with this??
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,280
  • Edited 2:56am Jun 19, 2011 2:42am | Edited 2:56am
This is NOT GOOD for FX Spot traders AT ALL. If it comes to pass.

Likely there is a loophole. Yet if Gain, as shady as they are has not found it.....

I'll let you know what happens with my broker. At this point I don't even want to mention the name.

The GC Standard contract (futures) is very expensive for small traders. And the Mini GC trades but is not as liquid.


Quoting LasVahGoose
Looks like the rumors were true.

Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15

http://www.zerohedge.com/article/tra...inning-july-15

.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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