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

  • #7,341
  • Jun 22, 2011 7:09am Jun 22, 2011 7:09am
Quoting ShirleyLo
Hi Nguyenngoctu,

quick execution and the minimum unit u can buy is '1' no matter what kind of account you've got. I run a 10k account and trade 1 gold when i'm not entirely sure about the trend.

beware of the crazy bad big fat spreads on volatile hours, but i'm sure all brokers do that, but I see oanda raising its spreads more than a lot of other brokers during volatility, esp on fast-paced trades like gold or GBP/USD

I read your earlier post that you want to 'protect your wealth' by trading gold? It's just that if you wanna do that you might...
Thanks for the advise .
Happy trading .
  • #7,342
  • Jun 22, 2011 7:10am Jun 22, 2011 7:10am
Quoting mmudasir
i have also requested to open my account i wanna also switch my account i hear very good about them
very easy to open an account , you can also fund your account with credit cards which means you can pay your capital the following month when the bill received LOL

I used to target my self to get 100% profit so I can pay that capital bill with my profit, which I did several times due to the high motivation to NOT paying my bill from my savings.

be smart and super stingy!
trading is my zen
  • #7,343
  • Jun 22, 2011 7:14am Jun 22, 2011 7:14am
Quoting ShirleyLo
very easy to open an account , you can also fund your account with credit cards which means you can pay your capital the following month when the bill received LOL

I used to target my self to get 100% profit so I can pay that capital bill with my profit, which I did several times due to the high motivation to NOT paying my bill from my savings.

be smart and super stingy!
This is not a very smart thing.
  • #7,344
  • Jun 22, 2011 7:38am Jun 22, 2011 7:38am
Quoting ShirleyLo
very easy to open an account , you can also fund your account with credit cards which means you can pay your capital the following month when the bill received LOL

I used to target my self to get 100% profit so I can pay that capital bill with my profit, which I did several times due to the high motivation to NOT paying my bill from my savings.

be smart and super stingy!
i m just opening account with them they tell me they will approve my account with in 1 or 2 days i submitted all of my documents
Trading by EA
  • #7,345
  • Jun 22, 2011 7:47am Jun 22, 2011 7:47am
Soooo,

Has anyone started researching futures brokerz yet??

If you are in the US and still want to trade gold that is the only way
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,346
  • Jun 22, 2011 8:27am Jun 22, 2011 8:27am
Quoting XTrade
Soooo,

Has anyone started researching futures brokerz yet??

If you are in the US and still want to trade gold that is the only way
I opened an account with Openecry but i' haven't fund it yet.
They offer demo accounts and software is really very good.
You can trade gold, silver, platinum and palladium as well as many other commodities.
  • #7,347
  • Jun 22, 2011 8:33am Jun 22, 2011 8:33am
Quoting beeb
Nervous times....

Am still seeing GC in steady uptrend - it has just broken out of the downfork shown numerous times. Currently anticipating 1551 upsloping resistance unless it turns down for a retest....lol

GC 240 min:

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

beeb
Retest then 1551 resistance...these forks eh.....

Now looking for 1549 to hold on any retest and then next resistance around 1560

beeb
  • #7,348
  • Jun 22, 2011 8:47am Jun 22, 2011 8:47am
Quoting beeb
Retest then 1551 resistance...these forks eh.....

Now looking for 1549 to hold on any retest and then next resistance around 1560

beeb

spike hit 1559.5...so far

beeb
  • #7,349
  • Jun 22, 2011 9:25am Jun 22, 2011 9:25am
Nice BREAKOUT!!!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,350
  • Jun 22, 2011 9:46am Jun 22, 2011 9:46am
THis was a great signal -

CLEAR BULLISH HAMMER ON THE WEEKLY circled in green .

See below.

Gunning for new high....
Attached Image (click to enlarge)
Click to Enlarge Name: gold weekly bullish hammer.GIF Size: 30 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,351
  • Jun 22, 2011 9:55am Jun 22, 2011 9:55am
Quoting XTrade
THis was a great signal -

CLEAR BULLISH HAMMER ON THE WEEKLY circled in green .

See below.

Gunning for new high....
Thanks! Finally some movement lol
trading is my zen
  • #7,352
  • Jun 22, 2011 10:00am Jun 22, 2011 10:00am
Quoting GiorgioM
This is not a very smart thing.
I know! LOL, I was 20 and in college with huge hatred on my side jobs!! Still laughing at those moments where I sat my arse in front of PC to make $1k I owed my cards.

Wiser now, I am. Trade with the money I use to buy expensive clothes!
trading is my zen
  • #7,353
  • Jun 22, 2011 10:20am Jun 22, 2011 10:20am
The FOMC statement may be the energy we need to get gold back near the all time highs. It's been holding its gains so far from earlier today. Are many of you holding your long positions through the announcement?
  • #7,354
  • Jun 22, 2011 10:34am Jun 22, 2011 10:34am
Stiiiil cooking. where will she land...

Been in this trade for DAYS.........
Attached Image
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,355
  • Jun 22, 2011 10:35am Jun 22, 2011 10:35am
Yes . Held. See why!

If I was scalping maybe not;

Quoting FX Junction
The FOMC statement may be the energy we need to get gold back near the all time highs. It's been holding its gains so far from earlier today. Are many of you holding your long positions through the announcement?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,356
  • Jun 22, 2011 10:39am Jun 22, 2011 10:39am
Quoting FX Junction
The FOMC statement may be the energy we need to get gold back near the all time highs. It's been holding its gains so far from earlier today. Are many of you holding your long positions through the announcement?
Depends on your circumstances (objectives, risk tolerance etc) - will hold GC swing longs....but am watching my scalpers to see if we breach 1560 area or whether 1557 support fails....

beeb
  • #7,357
  • Jun 22, 2011 11:53am Jun 22, 2011 11:53am
Shirley Gold is still bullish. One thing to keep in mind is that when the price stays in one range, for example 1550 to 1520 it usually consolidating and pairing its gains. Since the indicators that tell you if a stock or commodity are lagging it takes time for them to catch up.

When we range neither party bulls or bears is strong or large enough at once to push the price up or down dramatically creating, perhaps a new trend.

Some may be selling the tops for a few bucks / in and out, and others may be waiting for that dip to enter at a more favorable price, thus pushing us back up to the range top.

Today for instance the FOMC discussion and talk of inflation was the main driver behind the breakout.

My point is, when it stays in one area for a month or so, chart patterns may dissolve and the signals of overbought or oversold should go back to the mid- basically telling that the market has dictated this price range a fair value for the security or commodity in discussion.


Quoting ShirleyLo
I'm back to commodity, sick of Euro's jokes, kept -30pips and then +30pips for more than 5 times a day, almost like my head's beaten with a gold bar over n over again. 2 days of work and I earnt USD20 (while I coulda spent the time doing my drawings). LOL

XAU, bull or bear, I don't know. It's increasingly overbought, ADX shows weaker uptrend, and something that's well above ichimoku is just too dangerous for me to go long..i dno , with the debacles of asian session..

European news is good too. I'm a slight bearish today
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,358
  • Jun 22, 2011 4:52pm Jun 22, 2011 4:52pm
It looks like USA does not want people to make money with FOREX...

First time I get comfortable with a pair and I start making some money in this business with XAUUSD, this happens:


As a result of the recently enacted Dodd–Frank Wall Street Reform and Consumer Protection Act, U.S.-based retail forex dealers such as OANDA are prohibited from offering leveraged trading in precious metals to retail clients after Friday, July 15, 2011.

As a client trading with our OANDA Corporate (U.S.) Division, you will not be able to trade our four precious metal pairs (XAU/USD, XAG/USD, XAU/JPY, XAG/JPY) on a leveraged basis, effective end of day July 15, 2011. Leveraged trading in other currency pairs will remain unaffected, with the same margin requirements.

We are working hard to minimize the impact of this restriction on our clients’ trading. For example, if you are not a citizen or resident of the U.S.A. you will be able to transition soon to our OANDA Europe Division without needing to close your open positions. We will send a detailed email soon with instructions on how to migrate your account.

We sincerely regret any inconvenience caused by this change in legal requirements. If you have any questions, please do not hesitate to contact our Customer Service Team at [email protected].

We appreciate your business with OANDA.

- The OANDA fxTrade Team
The Black Swan: The Impact of the Highly Improbable
  • #7,359
  • Jun 22, 2011 5:45pm Jun 22, 2011 5:45pm
Quoting MapleLeaf
It looks like USA does not want people to make money with FOREX...

First time I get comfortable with a pair and I start making some money in this business with XAUUSD, this happens:


As a result of the recently enacted Dodd–Frank Wall Street Reform and Consumer Protection Act, U.S.-based retail forex dealers such as OANDA are prohibited from offering leveraged trading in precious metals to retail clients after Friday, July 15, 2011.

[b][font=Arial][color=purple]As...
there may be ways around this. i am using a broker, off shore, with a small account, from whom i have not heard with regard to this issue. They are an upstanding, reliable easy to communicate with broker, which has never had a problem having a us national for a client. i do not intend to change anything i am doing until i hear from them. i am a very small fish. in searching the internet i located a broker in switzerland which is preparing a way for us clients to continue to use its currency feed, clients who have less than the $1,000,000 cutoff. keep in mind, too, that using options is a very good way to follow gold and silver. there are currency etf's, too. This is just as good, although maybe not as much fun IN THE SAME WAY, as forex spot trading. The bottom line for me is being able to follow the trends in gold and silver.
  • #7,360
  • Jun 22, 2011 6:07pm Jun 22, 2011 6:07pm
Quoting XTrade
Soooo,

Has anyone started researching futures brokerz yet??

If you are in the US and still want to trade gold that is the only way
There is a broker in Switzerland, i do not want to give the name, that is trying to arrange for its us clients, to my understanding, who are "worth" less than $1,000,000 (the D/F cutoff) to continue to receive its metals feed. I found them when searching the web.
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