XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 469 | Metals Mine

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

  • #9,361
  • Aug 26, 2011 2:04pm Aug 26, 2011 2:04pm
BTW, look at what happened on 08.10.2011
  • #9,362
  • Aug 26, 2011 2:10pm Aug 26, 2011 2:10pm
Quoting Walt
BTW, look at what happened on 08.10.2011

Oh ya I forgot about that..! Thanks for reminding me.. I actually looked back on my chart now wondering what you mean
  • #9,363
  • Aug 26, 2011 3:11pm Aug 26, 2011 3:11pm
nice to see my account going up again
  • #9,364
  • Aug 26, 2011 3:41pm Aug 26, 2011 3:41pm
Quoting hermanforex
Oh ya I forgot about that..! Thanks for reminding me.. I actually looked back on my chart now wondering what you mean
why what happened?

anyway, if somebody loses much, he/she should be off from trading and don't revenge trade or win money back. If you trying to win it back the same speed you lost it, you gonna lose again. If you trade normally chances are you'll slowly get it back then more. The reverse is true, if you happen to gain some enormous profit that isn't the normal course of events or just hapenned somehow, that means you are not better than you are you were just lucky. It's hard but then you need to quit for some time, exactly how you'd do after a loss. Skip the number of days it would take you to gain that amount by normal trading, enjoy free time, or trade very small amounts. If you recently won a lot you think you are invincible then you lose the profit you made. It has happened to me 2 or 3 times. First I made 2000 from a 500 account then wiped it. Then I made almost 1000 on this gold rush from 500 then it went back, then again with a smaller amount... I learned to stop, but I still need to learn when to exit a profitable trade. If the profit or loss is out of the ordinary, something stinks. So I'm back to learning, reading babypips.com, and trying to stay away from silver. I also use nano lots, but some serious amount of trades while I learn. It's still better than a demo while I slowly gain back my initially lost 500usd.
  • #9,365
  • Aug 26, 2011 4:15pm Aug 26, 2011 4:15pm
Quoting chester
I totally agree to what you are saying, but right now i cant bring myself to bring my love for trading back, atm its all about getting my loss back, but again if i cant change my point of view i will loose more
by the way chester i started trading last march. almost lost everything by june. started reading books and this forum. i'd say i'm doing pretty well now. but i'm no where near as good as the moderators of this forum. it doesn't have to take a long time to be at least decent in trading.

by the way. most of the newbie mistakes in trading are not because of faulty analysis. it's mostly made by BAD TRADING HABITS... chasing the market, revenge trading, multiple hedging, shorting on a bull run, the feeling of invincibility after a winning streak, taking a position without having a price objective and it's corresponding stops, HOPING for the market to favor your position even if analysis says otherwise...

keep this in mind when trading...WHEN IN DOUBT, STAY OUT!
  • #9,366
  • Aug 26, 2011 4:31pm Aug 26, 2011 4:31pm
Quoting chester
people who dont know trading should not trade
lesson learnt
lost 10k in 1 week

wish i found this thread earlier
anyone willing to help me get my money back and then i am out of it? Can offer you a beer

go fishing!!! It really help!!!
  • #9,367
  • Aug 26, 2011 4:34pm Aug 26, 2011 4:34pm
Gold had a nice daily pin bar on thursday, I decided to wait for a retrace back to 1740 to go long, which did not occur sadly.
Attached Image
  • #9,368
  • Aug 26, 2011 4:50pm Aug 26, 2011 4:50pm
Gold close on 1827...

Is it indicates that gold will be going up further to the highest(1914) around next week? Because it's already more than the pivot points(R2) and the resistance..

I was asleep and did not buy for GAP.. It should be going up on monday for GAP..

If gold coming back in the game, I would like buy 1 for long term..

Thanks
  • #9,369
  • Aug 26, 2011 4:53pm Aug 26, 2011 4:53pm
Quoting vp920b
Gold close on 1827...

Is it indicates that gold will be going up further to the highest(1914) around next week? Because it's already more than the pivot points(R2) and the resistance..

I was asleep and did not buy for GAP.. It should be going up on monday for GAP..

If gold coming back in the game, I would like buy 1 for long term..

Thanks
after it breaks fibo 61.8 for good, which is from record top to the pin bar's bottom, and is above 1830, I'm gonna sneak in some small longs
  • #9,370
  • Aug 26, 2011 5:34pm Aug 26, 2011 5:34pm
I trade EURUSD but recently developed a system which trades gold. I'm trying to figure out the best TF for trading gold. It looks like a big mover to me and one yoo wouldn't want to be on the wrong side of without a stop loss.

But then again higher TFs are very slow on entry and exit but if a trend is well established I think one can benefit from trading this commodity
  • #9,371
  • Aug 26, 2011 5:42pm Aug 26, 2011 5:42pm
No matter how many hikes the CME adds.. GOLD will keep bullish and the rate hikes are only good opportunities to buy on dips with every correction after the rate hike.
The Black Swan: The Impact of the Highly Improbable
  • #9,372
  • Aug 26, 2011 6:04pm Aug 26, 2011 6:04pm
Quoting beeb
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
Most of the guys here, myself included, take your forks seriously. I hope this doesn't stop you from posting.
  • #9,373
  • Aug 26, 2011 6:05pm Aug 26, 2011 6:05pm
Quoting MapleLeaf
No matter how many hikes the CME adds.. GOLD will keep bullish and the rate hikes are only good opportunities to buy on dips with every correction after the rate hike.
Probably.

I haven't been tracking silver since the big decline on May 1st, when it wiped half of my demo. It's too big margin for it and too volatile for my real atm.

But, I've watched some gold + silver analysis video on YouTube about a week ago, and there I found out that it took seven margin hikes to knock silver down, but few days after the last hike it just kept rising again.
Most of you probably know that, but just mentioning it anyway for comparation.
  • #9,374
  • Aug 26, 2011 6:09pm Aug 26, 2011 6:09pm
Anyone could answer me?

I'm a spx trader but will start trade gold on monday due to its volatility.

is 0.5 spread good for XAU (openFX)???? could any recommend any better broker. THX!!
  • #9,375
  • Aug 26, 2011 7:29pm Aug 26, 2011 7:29pm
Quoting ShirleyLo
My pivot is 1740, close to Bemac's pivot me thinks.
Check his graph, much more pro than mine.
I'm not finished catchin up on posts yet but this one hit a trigger:
ShirleyLo, You are a Shakespearian... Methinks
Just added to My Value Points of your Posts {I always looked forward to them but I now, may, have the knowledge that... If you can Study Shakespear, Then you can Study. Period.}
Am I correct? or out of bounds?

B
  • #9,376
  • Aug 26, 2011 7:30pm Aug 26, 2011 7:30pm
I agree, those forks are great, keep them coming beeb.

forks + price action + murrey math + good management = Great GOLD trades.
The Black Swan: The Impact of the Highly Improbable
  • #9,377
  • Aug 26, 2011 7:48pm Aug 26, 2011 7:48pm
Quoting chester
people who dont know trading should not trade
lesson learnt
lost 10k in 1 week

wish i found this thread earlier
Anyone willing to help me get my money back and then i am out of it? Can offer you a beer
Ohhh How lucky you are too have found this Base so early in your carreer as a Trader. Too bad about the 10K but perhaps I owe you a Thank you.
Now the only choice you have is to Listen or Ram Forward.

(I suggest the Former would be the Smart Choice.)

We can help you in your efforts to get it back but it may reguire some work on your part.

Ready to put your Workboots on or did you want the Blue Pill? I have none left...

First Step: Reduce DEFCON to 2 & start Thinking, Reading & Studying...
If you are expecting Anyone to post a Potential 10K Profit Trade, it isn't going to happen.
That being said, It is possible to recoup it but you have to play by the rules.
Can you do that?

B
  • #9,378
  • Aug 26, 2011 7:56pm Aug 26, 2011 7:56pm
Quoting beeb
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
Ehhh. Here's My Comment:
I'm off to ADD MY VOUCH for the Beeb.

STFU YA What in this world would Ever make you consider that Your Posts are not being read.
Addmitedly, I play a different game & am assinine enough to think that I can manage it on my own & YET, I review Your Views.

Why would I do that?
sellfishly; I consider you as one of my Wingmen.

B
  • #9,379
  • Aug 26, 2011 8:02pm Aug 26, 2011 8:02pm
Quoting MapleLeaf
I agree, those forks are great, keep them coming beeb.

forks + price action + murrey math + good management = Great GOLD trades.
How comfortable might you be discussing Murrey?
I know it is a convolouted subject but then again...
We Crawl Forward.

B
  • #9,380
  • Aug 26, 2011 8:17pm Aug 26, 2011 8:17pm
Quoting MapleLeaf
No matter how many hikes the CME adds.. GOLD will keep bullish and the rate hikes are only good opportunities to buy on dips with every correction after the rate hike.
I could be Nice and Dress this up all nice & pretty but... My response is...

WRONG.

Gold at 1,500 is probably, like Bread at $0.25/Loaf , Long Gone & limited to the History books.
Don't get me wrong. I've been a Bull since Spring & 'am quite sated.
Problem is:
I evaluate Every Trade Every Day and... <~ 1,600 may be Required to remove the shackles.

Yep. You read it right.
Bemac will stand aside & wait for a >1,900 Break or look for a bounce from 1,560. !
1,560 Only Crying if you are caught long

B
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