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

  • #10,341
  • Sep 19, 2011 12:49pm Sep 19, 2011 12:49pm
Quoting Nguyenngoctu
Woa ! you must be very rich
The bull is dead ,isn't it ?
Not very rich,but Im happy with my poor results

bulls wins,bears wins if you know what you are doing patience with iron system rules and experience is key to good results
this is only my comment fellas

http://www.myfxbook.com/members/Leofx777/abcd/165332
  • #10,342
  • Sep 19, 2011 12:50pm Sep 19, 2011 12:50pm
Quoting Ravissek
No bull is next to bear.BEEEEAR>Buy and wait for bulls?
Simple.You can make Milion dollars easy in gold.Just buy when its low price.Price go lower? Buy again.This is my technique and I have like 6x profit each trade.Now I have opened BUY at :1777,1786,1792,1817.
What you think? When it goes up I will have huge profit.
I closed my trades from last week today.6 trades and 7k$ profit.Its not that hard.But it want BIG capital.I profer 30k$ capital on gold.Its safe and you will not pay for one mistake because you can open more trades


that is a pretty dangerous approach my friend. been there, done that.

be careful not to lose your entire capital pretty quickly. if the market moves down for a while, what do you do then. ? just like your profit accumulates quickly your losses will be pretty huge too. especially in the absence of stop losses. its not a good strategy to follow.

but hey its your choice the way you wanna trade. iam just giving you a bit of friendly opinion.

  • #10,343
  • Sep 19, 2011 12:56pm Sep 19, 2011 12:56pm
Quoting Doncex
Not very rich,but Im happy with my poor results

bulls wins,bears wins if you know what you are doing patience with iron system rules and experience is key to good results
this is only my comment fellas

http://www.myfxbook.com/members/Leofx777/abcd/165332
Poor results? You are king for a day.

If you can continue to predict set ups with this degree of accuracy, you will be rich.

But as we all know, you can't always win in forex.
  • #10,344
  • Sep 19, 2011 12:57pm Sep 19, 2011 12:57pm
Quoting Tilf
That was some serious charting! Almost like a crystal ball. Good trade.
Thanks
  • #10,345
  • Sep 19, 2011 12:59pm Sep 19, 2011 12:59pm
Quoting Doncex
Not very rich,but Im happy with my poor results

bulls wins,bears wins if you know what you are doing patience with iron system rules and experience is key to good results
this is only my comment fellas

http://www.myfxbook.com/members/Leofx777/abcd/165332

"BULLS MAKE MONEY, BEARS MAKE MONEY, PIGS get SLAUGHTERED"

Gordon Gekko.
The Black Swan: The Impact of the Highly Improbable
  • #10,346
  • Sep 19, 2011 1:02pm Sep 19, 2011 1:02pm
Quoting Wheels
Poor results? You are king for a day.

If you can continue to predict set ups with this degree of accuracy, you will be rich.

But as we all know, you can't always win in forex.
Yes you are right,forex is cruel sometimes

Here, it should limit the damaging volume of transactions and increase profitable volume of transactions

just my two cent
  • #10,347
  • Sep 19, 2011 1:14pm Sep 19, 2011 1:14pm
iam probably gonna regret this trade, but long entered with 1/4 position at level 1771. just looking to grab a few pips.

contrary to what my charts are showing.
  • #10,348
  • Sep 19, 2011 1:20pm Sep 19, 2011 1:20pm
Quoting whatfx
iam probably gonna regret this trade, but long entered with 1/4 position at level 1771. just looking to grab a few pips.

contrary to what my charts are showing.
You got a few already - charts are not everything.

Takes away from mass psychology when thousands of chart set-ups exist.
  • #10,349
  • Sep 19, 2011 1:29pm Sep 19, 2011 1:29pm
Quoting whatfx
iam probably gonna regret this trade, but long entered with 1/4 position at level 1771. just looking to grab a few pips.

contrary to what my charts are showing.
You are not alone, im long since 1775. Let's hope it works...
  • #10,350
  • Sep 19, 2011 1:31pm Sep 19, 2011 1:31pm
Are you serious..... you cant be. This account is a straight up Demo. Get with the Real and test your gut with a Micro/Mini account using hard earned money.

Come on now, we're not playing here, this isn't a game, and yes I DO have a day job!

Quoting Doncex
Not very rich,but Im happy with my poor results

bulls wins,bears wins if you know what you are doing patience with iron system rules and experience is key to good results
this is only my comment fellas

http://www.myfxbook.com/members/Leofx777/abcd/165332
  • #10,351
  • Sep 19, 2011 1:44pm Sep 19, 2011 1:44pm
Quoting KinG-Solomon
Are you serious..... you cant be. This account is a straight up Demo. Get with the Real and test your gut with a Micro/Mini account using hard earned money.

Come on now, we're not playing here, this isn't a game, and yes I DO have a day job!
I have real acc and demo acc

demo is quite positive and real is positive too,but time will tell more
  • #10,352
  • Sep 19, 2011 1:47pm Sep 19, 2011 1:47pm
Quoting whatfx
iam probably gonna regret this trade, but long entered with 1/4 position at level 1771. just looking to grab a few pips.

contrary to what my charts are showing.
gold can go up here is my pic,but time is not very good,but volume is huge in m15 tf

good luck
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  • #10,353
  • Sep 19, 2011 2:39pm Sep 19, 2011 2:39pm
Something funky going on.

Most of the currency pairs with USD in it went in favor of the other currency in the last 1 or 2 hours.
What's happening?

May it affect gold? Seems like USD is going a bit bearish, might be a leading sign for some short bullish move in gold price?
  • #10,354
  • Sep 19, 2011 2:47pm Sep 19, 2011 2:47pm
USDX is been in a downtrend since 1030am. Might currencies continue to move against it. Anything is possible. But you can't expect someone else to decide for you if gold is a buy right now.

Keep in mind though that is it sitting right under resistance of 1780 area so ..........
  • #10,355
  • Sep 19, 2011 2:52pm Sep 19, 2011 2:52pm
fox news said that greece might get help in the next hrs.
  • #10,356
  • Sep 19, 2011 4:15pm Sep 19, 2011 4:15pm
Quoting dnvg
You are not alone, im long since 1775. Let's hope it works...

well, currently + 8 pips up. just looking for another 7 pips then i may close.
  • #10,357
  • Edited 5:05pm Sep 19, 2011 4:39pm | Edited 5:05pm
Following on from post #10423 I thought I might show how the GC 5mins forks already drawn produced a short....

My general rule is to only go long in an upfork and short in a downfork so seeing price becoming less strong in the black upfork I drew a yellow downfork. After trying various types, an unmodified schiff seemed to fit best.

I was becoming more convinced price would decline as the highs numbered 1,2 and 3 were less high in terms of both the black fork and the yellow fork. Likewise the lows numbered 4 and 5 were becoming lower in terms of both.

At the green circle I decided to go short after seeing a bar top out exactly at the warning line that had previously been support and had now become resistance. Using the downward slope of the yellow fork enabled me to find a relatively close stop - imperative in current markets IMO....

beeb

edit FWIW I am still very much a bull on fundamentals and longer term technicals and will use the shorter timeframes to take trading longs when the occasion arises
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  • #10,358
  • Sep 19, 2011 4:45pm Sep 19, 2011 4:45pm
Quoting whatfx
well, currently + 8 pips up. just looking for another 7 pips then i may close.

Are you gonna let us in on what this Damascene Revelation was to turn you from bull to bear?



beeb
  • #10,359
  • Sep 19, 2011 5:47pm Sep 19, 2011 5:47pm
Quoting beeb
Following on from post #10423 I thought I might show how the GC 5mins forks already drawn produced a short....

My general rule is to only go long in an upfork and short in a downfork so seeing price becoming less strong in the black upfork I drew a yellow downfork. After trying various types, an unmodified schiff seemed to fit best.

I was becoming more convinced price would decline as the highs numbered 1,2 and 3 were less high in terms of both the black fork and the yellow fork. Likewise the lows numbered 4 and 5 were becoming lower in terms...
Anyone can draw forks.....correct or not.....*after* the fact.......to be useful though you need to show people your forks at the time of drawing them to show whether or not they work out. To keep showing forks that were (apparently) successful after the fact is just a waste of time. It's like saying "I made 100 pips on that downmove"......yeah right......anyone can call it after the fact......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #10,360
  • Sep 19, 2011 5:54pm Sep 19, 2011 5:54pm
I read the little spat & glad you guys came to an accord.
I also read some others stating they were Buying this Dip.
I read about Deep Pockets to hold Longs that were moving Away...

I just care about Timing.
Time to Get IN & Time to get OUT.
Currently I am Flat Gold. (btw. I was scoffed at by some back in April when I suggested Gold could move from 1,4xx to 1,600)

NOW:
I think we need further Cleansing before we decide IF The Bull Run is Done.
Not a market I am willing to Med Term Trade or even consider Long Term Trading atm.

I will observe to see if 1,745 comes into play. If so...
~1,720 becomes a Target & then ~1,690.

That's where I will get Really interested.
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Until then, I will sate myself with the occasional H1-H4 Scalp


btw. I Traded Gold before Forex, Live 'Net Feeds' or Demo's existed & before some of you were born. Not a gloat. just a fact.

B
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