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

  • #10,461
  • Sep 20, 2011 5:43pm Sep 20, 2011 5:43pm
Every ten or so years, it seems, this happens.

With the Y2K tech bubble there were traders who believed price can only go up - so just keep on buying no matter how low it corrects.

It wasn't pretty when the party was over. It never is.
  • #10,462
  • Sep 20, 2011 5:53pm Sep 20, 2011 5:53pm
Quoting Ravissek
Hey. You can trade gold.But when you want money you going to only BUY.Because in long term gold price is rising.But You need big capital.
When you have a big capital nobody can stop you to make lot of money.
Simple.Hardest on Investing on gold is where you get that big capital.
(i prefer 30k$)
I am trading only Mini lots like 0.1.When price is moving out of me (down) I am buying it again.
I am trading maximum 25opened 0.1 lot trades.And I never open 2 trades on same price.I open and I buying again only if Price is going down like 1000pips down I...
man.. the currencie guys cant make 2400 pips a day with one trade!
Wow.. nice work man. Maybe once i get that much capital i'll buy gold/
Have I got something on my face, SOLDIER?
  • #10,463
  • Sep 20, 2011 6:03pm Sep 20, 2011 6:03pm
Hey Buma, just get a micro-account and practice practice practice practice. You can trade gold easy on Micro-account at 1.00 and steadily build your account up then move up 1.00 more for every 50,000 in capital that you have. A good broker for this is FXOpen.

Give em a shot.

https://fxopen.com?agent=350727

X, please dont ban me, just thought I would help the young gentleman trader out.

Quoting bumapatria
man.. the currencie guys cant make 2400 pips a day with one trade!
Wow.. nice work man. Maybe once i get that much capital i'll buy gold/
  • #10,464
  • Sep 20, 2011 6:30pm Sep 20, 2011 6:30pm
Quoting KinG-Solomon
Hey Buma, just get a micro-account and practice practice practice practice. You can trade gold easy on Micro-account at 1.00 and steadily build your account up then move up 1.00 more for every 50,000 in capital that you have. A good broker for this is FXOpen.

Give em a shot.

https://fxopen.com?agent=350727

X, please dont ban me, just thought I would help the young gentleman trader out.
Ok thanks. DO you guys see a possible bullish pennant on h1? I wanna see how this works on demo first then possibly go live. would there be breakout to the downside or upside?

Im bullish judging from this so far. USD is expected to be lower against the euro soon, and after all this is against the usd right? so i guess bullish breakout might happen soon.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 25 KB
Have I got something on my face, SOLDIER?
  • #10,465
  • Sep 20, 2011 6:35pm Sep 20, 2011 6:35pm
HammerTime... =
Warning.
Ignore.
Goodbye.
Not even sure XT is willing to offer the 2nd (after Warning)
Anyway...

So we All dreamed we would be rich within a year of starting this Trading venture (my venture started in the 70's) I've spent a bunch of what I have earned from trading on Me, My Wife & My Kids for all sorts of things.

A House for my Kids to Move Out into (Yes, I set my Kids up as Room mates) would proabably be the biggest so far and I thought you might be interested in an Exit Method I used to get there.

Long Train Running:
We all want to catch that Huge Move that does the Pink Bunny thing & just keeps on going & going.

Important: I am now Flat the Gold Market.
I got on that Gold Train in April of this year when gold was at 1,432. I posted Here & in PF that I could see 1,600 by Year's end.
Some agreed, some questioned & some laughed.

But the Question is; How do you Play & Stay in a Trade like that?
Here's how I did it.Since I am a Fib fan I use 23% but you can adjust that up or down to suit your style.

When I catch a runner & the Train pulls out My Stop strategy shifts from ppz to Risk of % Gained.

How does That work?
Simple really.
If I'm UP x00 Pips then I'll risk 23 of them on a Trailing Stop.
Note: This is a Second or even a 3rd Trade phase strategy.

Caveman built the "Manager" Ea for us &, for those of you that are interested, I'm sure you can find it. (Sorry. New CPU & it I can't find it)

Bottom Line:
You cannot buy a Ticket on The Long Train if you are Scalping 4Hr & less.

My view:
Looking to steal Gold in the 1,720 area.
Use this info as you see fit.

But then again, I'm just one of us.

B
  • #10,466
  • Sep 20, 2011 6:38pm Sep 20, 2011 6:38pm
@bemac. "looking to steal gold". So that means you would be buying or selling?
Have I got something on my face, SOLDIER?
  • #10,467
  • Sep 20, 2011 6:58pm Sep 20, 2011 6:58pm
Quoting XTrade
PM ME or I will you at any time. Please.
PM will be sent to you shortly.

For the rest of the posters, good luck with your trades. I won't post here anymore because I can see that posting charts well after the fact is not only ok here, it is even supported.

To look at a completed chart every now and then and learn from it is great.....to persistently post charts after the fact teaches nothing. Might make the poster feel ten feet tall, but those who are trying to learn, will learn nothing.

There is two threads here at FF that I know of, both have many experienced full time traders, and both require charts and trade calls, with reasons to be posted *up front*. Past calls and past charts are, quite rightly, not allowed. Help is given to those who are trying to learn. In fairness to XTrade, I won't post links to those threads.....they are easy to find.

Good trades to all (luck has little to do with it), challenge yourselves and be bold enough to make your calls and charts ahead of time......nothing wrong with being wrong, how else do you expect to learn?

I will now unsubscribe from this thread.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #10,468
  • Sep 20, 2011 7:21pm Sep 20, 2011 7:21pm
Quoting bumapatria
Ok thanks. DO you guys see a possible bullish pennant on h1? I wanna see how this works on demo first then possibly go live. would there be breakout to the downside or upside?

Im bullish judging from this so far. USD is expected to be lower against the euro soon, and after all this is against the usd right? so i guess bullish breakout might happen soon.

talking about PA and candles, that big shadow on the h1 candle was in fact a great sign to go long intraday of course at 1785.. and then close when red started at 1808.

but right now I personally don't see anything in H1.. maybe on H4 I can see the two green candles with shadows suggesting some more bull, but right now its taking a rest.

I guess, the WORLD is still waiting to see what happens to GREECE, for the last 2 weeks now... However the downgrade in the qualification to Italy didn't affect GOLD at all, when they downgraded USA qualification, we saw an important move in GOLD..
The Black Swan: The Impact of the Highly Improbable
  • #10,469
  • Sep 20, 2011 7:25pm Sep 20, 2011 7:25pm
Quoting bumapatria
@bemac. "looking to steal gold". So that means you would be buying or selling?
Buying Yes. But not Yet.
I think if I wait until I can see the Whites of their eyes, I can get it for

~ 1,720

Intersting times though.
1,780 has to subside first.

Time will reveal all.

B
  • #10,470
  • Sep 20, 2011 7:26pm Sep 20, 2011 7:26pm
Quoting MapleLeaf
talking about PA and candles, that big shadow on the h1 candle was in fact a great sign to go long intraday of course at 1785.. and then close when red started at 1808.

but right now I personally don't see anything in H1.. maybe on H4 I can see the two green candles with shadows suggesting some more bull, but right now its taking a rest.

I guess, the WORLD is still waiting to see what happens to GREECE, for the last 2 weeks now... However the downgrade in the qualification to Italy didn't affect GOLD at all, when they downgraded USA qualification,...

Yeah true, big trades are real patient for now. FOMC statment would definitely affect gold right? but right now, overall trend is down, and im not going to trade gold for now. DJ is safer for me and the eu.
I need to sleep, didnt sleep for long time..

Bye guys, thanks for the intro and tips
Have I got something on my face, SOLDIER?
  • #10,471
  • Sep 20, 2011 8:54pm Sep 20, 2011 8:54pm
Quoting whatfx
you are right. the overrall look is bearish.

but iam looking for a few pips on the upside. i have entered a small buy at 1787. will probably close at +10 pips.

although at the moment there seems to be nothing doing, it appears to have reached a stalemate for now. if the stalemate continues then i will close the position early with whatever pips i have at the time.

hardly much movement today. no point in hanging on to a trgain.ck aade if its ranging....
hi folks,

back again.

well well, it looks like my last long trade paid off !

entered long at 1787. was looking to close at + 10 pips. but market was slow. so i set a tp at 1807 and left for the day....

now that i have come back, checked , trade reached tp and closed with + 20 pips profit.

while everyone was entering shorts i did the reverse and managed to grab + 20 pips on the upside !


so thats +20 pips from earlier trade, and +20 pips from this trade, a total of +40 pips for the day.

iam happy with that.

now lets see what tomorrow has to bring. perhaps its time to take a short trade after a very long while ?

iam extremely busy tomorrow though, so i hope a get some time on the side to trade.

  • #10,472
  • Sep 20, 2011 9:08pm Sep 20, 2011 9:08pm
Quoting Ravissek
Hey. You can trade gold.But when you want money you going to only BUY.Because in long term gold price is rising.But You need big capital.
When you have a big capital nobody can stop you to make lot of money.
Simple.Hardest on Investing on gold is where you get that big capital.
(i prefer 30k$)
I am trading only Mini lots like 0.1.When price is moving out of me (down) I am buying it again.
I am trading maximum 25opened 0.1 lot trades.And I never open 2 trades on same price.I open and I buying again only if Price is going down like 1000pips down I...

ok ravissek.

this is getting silly now. iam curious to know how you made 2400 pips in 1 day.

how did you manage that ?? even the fx traders in major banks rarely do that.

so a brief explanation is due from you....

how many pips did you make on gold ?
  • #10,473
  • Sep 20, 2011 9:36pm Sep 20, 2011 9:36pm
New Generation Pips.
5th Decimal Place Pips.
2,400 New Pips = 240 Old (Real) Pips @ 4th Decimal place.

It's a New Dawn & this Old Dog just keeps thinking 'How Easy the New Generation has it' .

B
  • #10,474
  • Sep 20, 2011 9:55pm Sep 20, 2011 9:55pm
Quoting whatfx
hi folks,

back again.

well well, it looks like my last long trade paid off !

entered long at 1787. was looking to close at + 10 pips. but market was slow. so i set a tp at 1807 and left for the day....

now that i have come back, checked , trade reached tp and closed with + 20 pips profit.

while everyone was entering shorts i did the reverse and managed to grab + 20 pips on the upside !


so thats +20 pips from earlier trade, and +20 pips from this trade, a total of +40 pips for the day.

iam happy with that.

now lets...
Nice Trade{s} if you are looking for 20P here & there but that {20P} wouldn't cover a Tenth of my Stop half the time.
"While everyone..."
Straight from; how to antagonize others and make enemies quickly.
Not Everyone was/is Short & I certainly seldom Trade the TF's you appear to.
But; I'm here to attempt to help.
Play the Lines...
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr sept 20 for whatfx.gif Size: 37 KB


I wish you Many Old Pips.

B
  • #10,475
  • Sep 20, 2011 10:39pm Sep 20, 2011 10:39pm
in my opinion strong breakout above 1811, it will visit 1834 and dive down, for now if it holds below 1811, we may see 1750-1734 within this week.
Attached Image (click to enlarge)
Click to Enlarge Name: xau.jpg Size: 128 KB
  • #10,476
  • Sep 20, 2011 10:44pm Sep 20, 2011 10:44pm
Quoting Bemac
Nice Trade{s} if you are looking for 20P here & there but that {20P} wouldn't cover a Tenth of my Stop half the time.
"While everyone..."
Straight from; how to antagonize others and make enemies quickly.
Not Everyone was/is Short & I certainly seldom Trade the TF's you appear to.
But; I'm here to attempt to help.
Play the Lines...
Attachment

I wish you Many Old Pips.

B

no worries. making 40 pips a day on gold is fine with me. it may not seem a lot to some people but hey thats 40 pips gained , not lost. i would rather gain small amounts regularly than aim for higher pips and gain nothing at all. remember we are talking about 40 pips gained in 1 day, not 1 week. weekly can average over 100 pips. and that is fine for me. especially on gold which doesnt have big movements.

remember i dont just trade gold, i trade currencies and stocks as well. so i cannot over expose myself on gold. thats why i aim for smaller number of pips.

i have entered a long position just a short time ago on AUDUSD at 10263, with tp at 10320. lets hope this one works out.

though i have in the past made as much as 100 pips in a day trading gold. but thats another story.

good luck in your pip hunting...
  • #10,477
  • Edited 1:35am Sep 21, 2011 1:19am | Edited 1:35am
Quoting whatfx
ok ravissek.

this is getting silly now. iam curious to know how you made 2400 pips in 1 day.

how did you manage that ?? even the fx traders in major banks rarely do that.

so a brief explanation is due from you....

how many pips did you make on gold ?
Ok lets show it
Around 2490 pips.Count it.
Second picture is last week.Around 3500 pips in one day I close couple trades when scalping everyday
Hey and I forgot.730 pips today just when I eating breakfast
I must do so much pips because I trade only mini lots.Sometimes when I have opened 5trades at time I do 8k pips in day.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dd.jpg Size: 29 KB
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  • #10,478
  • Sep 21, 2011 1:23am Sep 21, 2011 1:23am
As I keep commenting - don't underestimate the effect of the London spot market....

http://kingworldnews.com/kingworldne...ld_Market.html

beeb
  • #10,479
  • Sep 21, 2011 1:39am Sep 21, 2011 1:39am
Quoting beeb
As I keep commenting - don't underestimate the effect of the London spot market....

http://kingworldnews.com/kingworldne...ld_Market.html

beeb
I dont care bro And I dont understand how it move gold or what..
I am trading only Price action.Not Any feckin fundamentals or technicals Just what I am thinking
  • #10,480
  • Sep 21, 2011 1:41am Sep 21, 2011 1:41am
Quoting Ravissek
I dont care bro And I dont understand how it move gold or what..
I am trading only Price action.Not Any feckin dundamentals or technicals Just what I am thinking

OK - wish you well but "a little knowledge is a dangerous thing"



beeb
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