XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #8,961
- Aug 19, 2011 3:28pm Aug 19, 2011 3:28pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
- #8,962
- Aug 19, 2011 6:03pm Aug 19, 2011 6:03pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #8,963
- Aug 19, 2011 6:21pm Aug 19, 2011 6:21pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
Dear CathS,
I am glad you find this thread a valuable resource and have learned from our posts.
I am assuming you got long silver - way overleveraged at that, even one or two mini lots can be too much for a new trader, especially in precious metals.
Then it dropped from 50 to 40, you were margin called and lost a ton of money.
So, consider you have paid your dues. My very first account, even with years of watching charts, buying and selling physical Gold and Silver bullion,
when I started trading it became another story.
To be completely honest, had I only traded Gold and Silver in said account I wouldn't have blown it. It was the currencies and being new to them that became my demise. Many times Gold trades actually allowed me to break even.
The key here is that I came from experience and did do quite well in the metals sectors. Yet, I hadn't traded, the Euro, Cable, Aussie, NZD, etc, besides on a demo for a year which in retrospect taught me absolutely nothing about trading besides how to place orders and do technical analysis. I suggest to anyone on demo, go live with a micro account and learn what it feels like to separate your emotions from your money.
Cath, now it is time for you to pick up the pieces and make all that money back. Unfortunately it sounds like a hefty amount, but it can be done.
If you think you can't do it, then practice and have someone manage the account for you.
Thinking I can't will not be a successful trading plan
Silver is not done yet, it still has more to climb and it will.
Today's close above 40 is bullish in my view. Stick around and post some more, we need to hear from you to help.
X-
Right now the volatility in these markets is Super, Super, high.
I am glad you find this thread a valuable resource and have learned from our posts.
I am assuming you got long silver - way overleveraged at that, even one or two mini lots can be too much for a new trader, especially in precious metals.
Then it dropped from 50 to 40, you were margin called and lost a ton of money.
So, consider you have paid your dues. My very first account, even with years of watching charts, buying and selling physical Gold and Silver bullion,
when I started trading it became another story.
To be completely honest, had I only traded Gold and Silver in said account I wouldn't have blown it. It was the currencies and being new to them that became my demise. Many times Gold trades actually allowed me to break even.
The key here is that I came from experience and did do quite well in the metals sectors. Yet, I hadn't traded, the Euro, Cable, Aussie, NZD, etc, besides on a demo for a year which in retrospect taught me absolutely nothing about trading besides how to place orders and do technical analysis. I suggest to anyone on demo, go live with a micro account and learn what it feels like to separate your emotions from your money.
Cath, now it is time for you to pick up the pieces and make all that money back. Unfortunately it sounds like a hefty amount, but it can be done.
If you think you can't do it, then practice and have someone manage the account for you.
Thinking I can't will not be a successful trading plan
Silver is not done yet, it still has more to climb and it will.
Today's close above 40 is bullish in my view. Stick around and post some more, we need to hear from you to help.
X-
Right now the volatility in these markets is Super, Super, high.
Hi K3m, I have been exactly where you are, please please step back and take a breath - I can tell you it is better to take a longer but safer path! I blew most of our accounts on silver also, simply because I hadn't appreciated the power of the leverage I was using and I was too pigheaded to listen.
I have spent many thousands on trading courses over the years, but none of them come close to the knowledge and wisdom you can gain from this thread - do yourself a favour and listen and learn before you do anything else - start with the 1st post...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #8,964
- Edited 8:09pm Aug 19, 2011 6:34pm | Edited 8:09pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #8,965
- Aug 19, 2011 8:32pm Aug 19, 2011 8:32pm
60k plus
RESPECT!
Never traded gold till yesterday when I started to short it fuck it...Now will hold it till further notion - SL around 1984
Hope that I will not get burned by this. In on a minimum lots thou.
i trade forex too, but now i stay away from them because volatility is too high now & stop loss has high probability to get hit if your stop is smaller than target (even if you in right direction). target < stop is not my style
(see ATR hike at D1 timeframe on all major chart)
so now i only trade gold where i won't put stop loss. actually it's not trade, i'm accumulating buy position (investing)
. i think this crazy bull trend will run till 2012 or 2013. our global economics is not likely to cured overnight i think hope you can take profit from that short position & join the bull trend.
but i might be wrong especially about the crazy bullish
happy profit!
- #8,966
- Aug 19, 2011 8:41pm Aug 19, 2011 8:41pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #8,967
- Aug 19, 2011 9:09pm Aug 19, 2011 9:09pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #8,968
- Aug 20, 2011 3:49am Aug 20, 2011 3:49am
- | Commercial User | Joined Jan 2011 | 4,044 Posts
Hi guys, how is it going?
The way I see it, due to seasonal strength in gold, a new high will be printed very soon in september. There will be room time-wise to get in long upon a retrace to 1780-1800 area for a target of 1940-1960, which is expected to be delivered by end of September 2011.
The way I see it, due to seasonal strength in gold, a new high will be printed very soon in september. There will be room time-wise to get in long upon a retrace to 1780-1800 area for a target of 1940-1960, which is expected to be delivered by end of September 2011.
- #8,969
- Aug 20, 2011 8:27am Aug 20, 2011 8:27am
- Joined Mar 2009 | Status: Trader | 1,231 Posts
The gold/silver ratio is currently around 43.
I am watching this since a while now and still not totally sure what to think about this. Look at this chart:
The general theme seems to be that when stock markets go down then the gold silver ratio goes up, the red line in the plot is the inverse gold/silver ratio, the silver/gold ratio.
I am slowly starting to come to the following conclusions:
I am watching this since a while now and still not totally sure what to think about this. Look at this chart:
The general theme seems to be that when stock markets go down then the gold silver ratio goes up, the red line in the plot is the inverse gold/silver ratio, the silver/gold ratio.
I am slowly starting to come to the following conclusions:
- stock markets are likely to continue to go down and not up, for example I would not expect this UK100 index from the above example to suddenly start rallying from 5000 to 10000 at this point, it looks rather bearish to me and the same is true for all other stock indices.
- The gold silver ratio is somehow correlated with this.
- If the above is true then the red line in the above chart should go down from here and not up, this means the Gold/Silver ratio would go up and not down.
- If this happens then an expected XAU/XAG ratio of 80 would require:
- either Silver to drop to 20 or below (silver bubble ending, return to the mean)
- or silver sideways and Gold to explode to 4000 and beyond (a gold bubble starting from here)
- or Silver continuing upwards and following this logic Gold must then go up even further, even far beyond the 4000)
trading is my zen
- #8,975
- Aug 21, 2011 2:13pm Aug 21, 2011 2:13pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #8,977
- Aug 21, 2011 6:26pm Aug 21, 2011 6:26pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #8,979
- Aug 21, 2011 6:31pm Aug 21, 2011 6:31pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News