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

  • #9,321
  • Aug 26, 2011 8:33am Aug 26, 2011 8:33am
Quoting ddinnov
I like your sig - I'm reading a book about Zen at the moment, I think if I could learn to trade without ego and emotions I would do very well. NOt just in trading but general wellbeing and happiness as well
good on you! I'm a buddhist too
trading is my zen
  • #9,322
  • Aug 26, 2011 8:37am Aug 26, 2011 8:37am
I hear you ShirleyLo,

I'll try the B/S limit method and waiting for the market, I've been manually entering trades and I find that sometimes it's because of emotions... so not good, sometimes you get lucky sometimes you don't but that's gambling not trading. I was looking for a way to distance myself and I think your technique is interesting.

Best and good luck !

W.
  • #9,323
  • Aug 26, 2011 8:39am Aug 26, 2011 8:39am
Quoting hermanforex
what can we expect with Ben Bernance speace in 35 minutes?
if I knew that I'd be quite rich by the end of today
Anything can happen.
  • #9,324
  • Aug 26, 2011 8:41am Aug 26, 2011 8:41am
Quoting ShirleyLo
Well, most of the time when I'm at the office I don't have my trading platforms in my mac (only mac at the office) so I rely on my b/s limits and stops.

When I'm at home, though, I revise why my b/s limits weren't reached and why were my stops touched.

Other than that, I do being cheeky on fundies like Bernanke tonight and ignore my chart, just riding on the market lol!

I have to admit I was tempted to buy last week on 18xx. Thanks to all people in this thread to curb that craving!


I scalp once every two weeks or so when I feel like...
Oanda have quite a good phone app (android in my case) which I use to move stops etc and occasionally enter and add to positions. But I mostly place buy/sell orders in the morning as well.
Anything can happen.
  • #9,325
  • Aug 26, 2011 8:41am Aug 26, 2011 8:41am
H4

see if it breaches R2 (IBFX one is pretty good actually, although mine was 1812).

Might means nothing in about 20 mins. Just so you guys know any hikes will return to normal and we could finally live like normal humans throughout the weekend.........
Attached Image (click to enlarge)
Click to Enlarge Name: gold night all.jpg Size: 76 KB
trading is my zen
  • #9,326
  • Aug 26, 2011 8:45am Aug 26, 2011 8:45am
Could you share your pivots please?
  • #9,327
  • Aug 26, 2011 8:45am Aug 26, 2011 8:45am
Quoting ddinnov
if I knew that I'd be quite rich by the end of today
K but does forexfactory post the results of the speech?
  • #9,328
  • Aug 26, 2011 8:47am Aug 26, 2011 8:47am
Quoting hermanforex
K but does forexfactory post the results of the speech?
So far I've only seen them post a link to official release, which is usually 1 sentence written in 10 paragraphs in many different forms.
  • #9,329
  • Aug 26, 2011 8:48am Aug 26, 2011 8:48am
Quoting Walt
Could you share your pivots please?
My pivot is 1740, close to Bemac's pivot me thinks.
Check his graph, much more pro than mine.
trading is my zen
  • #9,330
  • Aug 26, 2011 8:56am Aug 26, 2011 8:56am
Can someone help me with this?

If the QE3 come out in 10AM later on, is it good for gold or is it bad?

Because some said if QE3 out it's good and if not gold will be going down..

Confused since from what I knew is that QE3 come out then gold falling down and if no QE3 then gold will rising to catching up $2000/toz at the end of the year, since it is a safe haven..
  • #9,331
  • Aug 26, 2011 9:17am Aug 26, 2011 9:17am
thanks bemac for that pump and dump remark. thanks beeb for drilling the word "stops" in my head. had to force that in my client's head too
today.

it's been 7 weeks of this roller coaster ride and i had about 2-4 hours a day of sleep. practically infront of my pc most of the time. been having tremors already... i should get used to using buylimits and stops so i can still have a life outside trading.. lol. i can now see and feel a "congestion" of fat build up at the 50%(stomach) and 61.8%(butt) retracement of my body. been having some migraine and tightening already on my head and shoulders.

anyways

just saw in bloomberg:
bernanke: no new stimulus

but gold is rising.

is there a live feed where we can watch bernie's speach?
  • #9,332
  • Aug 26, 2011 9:25am Aug 26, 2011 9:25am
Quoting patguchi
thanks bemac for that pump and dump remark. thanks beeb for drilling the word "stops" in my head. had to force that in my client's head too
today.

it's been 7 weeks of this roller coaster ride and i had about 2-4 hours a day of sleep. practically infront of my pc most of the time. been having tremors already... i should get used to using buylimits and stops so i can still have a life outside trading.. lol. i can now see and feel a "congestion" of fat build up at the 50%(stomach) and 61.8%(butt) retracement of my body. been having some migraine...
That's not good - I hope you are getting paid enough. Work to live - don't live to work, that's my approach..
Anything can happen.
  • #9,333
  • Aug 26, 2011 9:26am Aug 26, 2011 9:26am
Bloomberg is discussing the speech now.
  • #9,334
  • Aug 26, 2011 9:32am Aug 26, 2011 9:32am
Quoting ddinnov
That's not good - I hope you are getting paid enough. Work to live - don't live to work, that's my approach..
My modest experience tells me that such conditions are not paid at all
  • #9,335
  • Aug 26, 2011 9:33am Aug 26, 2011 9:33am
Quoting ddinnov
That's not good - I hope you are getting paid enough. Work to live - don't live to work, that's my approach..
money is not my main motivator at this point (i don't get paid much). what drives me is that i like trading and i really want to learn as much as i can. but i do need to get some rest. maybe next year...lol
  • #9,336
  • Aug 26, 2011 9:44am Aug 26, 2011 9:44am
Quoting CathS
Bloomberg is discussing the speech now.
not much reaction to the QE3 thing..
Anything can happen.
  • #9,337
  • Aug 26, 2011 9:51am Aug 26, 2011 9:51am
subscribed to this guy for market analysis. this is what he said





Bernanke (Fed) decided to stay its course and not introduce QE3 at this time. This has caused stocks to sell off sharply and the US dollar to strengthen once this was said. Today and over the weekend investors will digest this news and then I feel a new trend will emerge.
Obviously no QE3 is a strong sign for the dollar so the question is can stocks rise with the dollar going forward…
I will note that the Fed did say if the economy needs QE3 in September they are likely to take action in Septembers meeting…
Let’s see how things pan out today and go from there.
Chris Vermeulen
  • #9,338
  • Aug 26, 2011 10:14am Aug 26, 2011 10:14am
if QE3 doesn't release today, i think it still potensial for uptrend
  • #9,339
  • Aug 26, 2011 10:19am Aug 26, 2011 10:19am
Quoting ddinnov
not much reaction to the QE3 thing..
Of course, because the market just doesn't buy the Bernanke's wisdom-words, the news in the unemployment and the GDP's were not good and i'm sure they are trying to stall any announcements of further QE or stimulus but sooner or later there will be QE even if they will call it something else.
  • #9,340
  • Edited 11:41am Aug 26, 2011 10:31am | Edited 11:41am
For those that like forks GC 20 min which has been working well. Red fork is still very much in control - blue not really tested. A on blue is 12th Aug....

http://www.screencast.com/t/JclKz1s1GWl

Be wary of further wild moves and use stops sensibly

beeb

edit - so after 40 minutes and 117 views not a single comment, nothing, for the chart I bothered to post - have now removed it
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