XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 532 | Metals Mine

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

  • #10,621
  • Sep 22, 2011 4:17am Sep 22, 2011 4:17am
Buy on :1817,1814,1785,1783,1781,1773,1764
Maybe couple buys will be added
  • #10,622
  • Sep 22, 2011 4:21am Sep 22, 2011 4:21am
Quoting Ravissek
Buy on :1817,1814,1785,1783,1781,1773,1764
Maybe couple buys will be added
great strategy. how much did you loose already then?
  • #10,623
  • Sep 22, 2011 4:24am Sep 22, 2011 4:24am
Quoting ruffryders
great strategy. how much did you loose already then?
I have a lot of free margin.It can safely go down.I will buy more
I can open 25 trades when its going down safely.I have opened only 7.Every trade will be safe.
It can be Under 1k$ price and I will buy more and more
I have a panic fear from selling.I dont do it .Never
  • #10,624
  • Sep 22, 2011 4:30am Sep 22, 2011 4:30am
Quoting Ravissek
I have a lot of free margin.It can safely go down.I will buy more
I can open 25 trades when its going down safely.I have opened only 7.Every trade will be safe.
It can be Under 1k$ price and I will buy more and more
http://img225.imageshack.us/img225/7043/brentdaily.png

BRENT D1 charts. more downside to come. Gold will follow. Catching a falling knife is not very effective me thinks. Wait for PA to build solid support level after the downmove and then start building your possie. 2000 gold is cool, but your account might not just bear the beating.
  • #10,625
  • Sep 22, 2011 4:32am Sep 22, 2011 4:32am
What you thing gold will do? Fall to 1700? Then Go up?
  • #10,626
  • Sep 22, 2011 4:32am Sep 22, 2011 4:32am
Quoting Ravissek
I have a lot of free margin.It can safely go down.I will buy more
I can open 25 trades when its going down safely.I have opened only 7.Every trade will be safe.
It can be Under 1k$ price and I will buy more and more
I have a panic fear from selling.I dont do it .Never
You're, clearly the greatest XTrade's fan
  • #10,627
  • Sep 22, 2011 4:37am Sep 22, 2011 4:37am
Quoting Ravissek
What you thing gold will do? Fall to 1700? Then Go up?
Gold will do 1700 for sure and then depending on PA it either builds a base to go higher or continue lower still. I think at this stage it's important to watch USDX and BRENT for PA hints on gold. I'm only looking for an entry to short sell right now. In fact this whole week is a week to short sell gold. Can't see good reasons to buy just yet - both technically and fundamentally.
  • #10,628
  • Sep 22, 2011 4:37am Sep 22, 2011 4:37am
Quoting 7bit
I am going to short silver now, and I hope it all plays out like below:
Attachment
I am quoting myself here because of the chart that is attached in the quoted message (click on the attachment to see it). This illustrates where I see the only place for now in Silver where I personally would have enough confidence again to start trying to build up another longterm long position again. Until then I will try to remain short.
  • #10,629
  • Sep 22, 2011 4:46am Sep 22, 2011 4:46am
Quoting ruffryders
Gold will do 1700 for sure and then depending on PA it either builds a base to go higher or continue lower still. I think at this stage it's important to watch USDX and BRENT for PA hints on gold. I'm only looking for an entry to short sell right now. In fact this whole week is a week to short sell gold. Can't see good reasons to buy just yet - both technically and fundamentally.
I am praying to god to not go lower than 1700.We need 1800+ support :-/
  • #10,630
  • Sep 22, 2011 4:51am Sep 22, 2011 4:51am
Quoting ruffryders
Gold will do 1700 for sure and then depending on PA it either builds a base to go higher or continue lower still. I think at this stage it's important to watch USDX and BRENT for PA hints on gold. I'm only looking for an entry to short sell right now. In fact this whole week is a week to short sell gold. Can't see good reasons to buy just yet - both technically and fundamentally.
Tell me .When you are short you have what stoploss? nothing or some very small?
  • #10,631
  • Sep 22, 2011 4:51am Sep 22, 2011 4:51am
Quoting Ravissek
I am praying to god to not go lower than 1700.We need 1800+ support :-/
yeah well that's why I only do position trades with spot market. I don't like to swing trade. Probably this strategy better suits ETF investments, where you can safely pile up your position slowly for a set target.

I think overall you should be fine. Seasonally speaking gold tends to be pretty strong autumn into winter time. Unless of course there is some wild crash.
  • #10,632
  • Sep 22, 2011 4:53am Sep 22, 2011 4:53am
Quoting Ravissek
I am praying to god to not go lower than 1700.We need 1800+ support :-/

ha ha !

exactly what i had said a couple of days ago. your approach to trading is very dangerous my friend. be careful not to blow up your account.

gold is bearish at the moment. you may scalp the long but nothing doing on a long term bull basis. you could be in trouble.







i entered a long yesterday by mistake, got stopped out at 1766. re-entered another long at 1763. fingers crossed ....


iam looking to enter short though, pretty soon, perhaps on the next up swing...
  • #10,633
  • Sep 22, 2011 4:53am Sep 22, 2011 4:53am
Quoting Ravissek
I am praying to god to not go lower than 1700.We need 1800+ support :-/

I think 1800 has become a resistance already
I'm waiting for a retest of 1790 or about it.....
Attached Image (click to enlarge)
Click to Enlarge Name: au1.jpg Size: 83 KB
  • #10,634
  • Sep 22, 2011 4:55am Sep 22, 2011 4:55am
I'm short since the fed announcement yesterday and holding for more down when NY opens.

No longs until I see big solid green bars on higher timeframes.
Anything can happen.
  • #10,635
  • Sep 22, 2011 4:57am Sep 22, 2011 4:57am
Quoting Ravissek
I am praying to god to not go lower than 1700.We need 1800+ support :-/
You should not base your risk management on the effectiveness of prayers.

If the reason why you entered the trade no longer exists or an opposite signal that is much stronger is manifesting and you *know* that your trade is losing and will lose even more then don't pray, close the losing trade.
  • #10,636
  • Sep 22, 2011 5:03am Sep 22, 2011 5:03am
Maybe I can go short and scalp some more trades.Maybe.Dont know.Why you guys waiting to short ? You are waiting for some 1750 point?
  • #10,637
  • Sep 22, 2011 5:04am Sep 22, 2011 5:04am
Quoting Ravissek
Tell me .When you are short you have what stoploss? nothing or some very small?
I use very tight SL, basically I want the trade go my direction straight away. I go for 0.5 SL at most on xau. on currencies I got for 10 point SL. I do get stopped out some time, but not frequently. I find this strategy working just fine with my trading strategy.
  • #10,638
  • Sep 22, 2011 5:05am Sep 22, 2011 5:05am
Quoting 7bit
You should not base your risk management on the effectiveness of prayers.

If the reason why you entered the trade no longer exists or an opposite signal that is much stronger is manifesting and you *know* that your trade is losing and will lose even more then don't pray, close the losing trade.
Hi all. First post here, but I have been following this thread for a while. Im a regular user of this site and many similar others.

Back to topic, do you guys really think it will go much lower? Because I don't. I think that there is a terrible storm about to arrive. Europe is in trouble, the US is in trouble. People are withdrawing their money from banks, stock, and even gold. Banks need money so they sell their gold. FOMC disappointed yesterday, so yeah, sell outs even for gold. But where are people going to put their money eventually? which is the ultimate safe haven? GOLD. There is nowhere better to go.

I would like to hear your opinions as well on this.
  • #10,639
  • Sep 22, 2011 5:07am Sep 22, 2011 5:07am
Quoting ruffryders
I use very tight SL, basically I want the trade go my direction straight away. I go for 0.5 SL at most on xau. on currencies I got for 10 point SL. I do get stopped out some time, but not frequently. I find this strategy working just fine with my trading strategy.
10pips ? Or what.On gold ? I dont get it...what you mean 10points
  • #10,640
  • Sep 22, 2011 5:14am Sep 22, 2011 5:14am
Quoting Ravissek
Buy on :1817,1814,1785,1783,1781,1773,1764
Maybe couple buys will be added
Please don't add any more longs on the way down. Wait for it to turn around and add them on the way up.

You could hedge them by shorting XAU/JPY maybe? *This is not a trade recommendation, just a suggestion of what I might do if I had several underwater longs in a falling market*
Anything can happen.
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