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

  • #11,941
  • Oct 11, 2011 7:54am Oct 11, 2011 7:54am
Quoting Goldmansacks
Personally I am keeping some dry powder - as always, as I like buying hard on the bigger dips... lower leverage, deep SL's and long term trades...

But I am wondering about placing a short at this point, with a SL up at 1750's , and TP down by the 1600 mark, usually I trade longer timeframe, and go long and buy on the dips but recently I have been taking smaller scalps both long and shorts.

Plus am already in on one short from 1678, wondering if I should just TP now or at the 1650 mark or hold out, sl is 1745 and then just wait and see.
same style for me goldman
Life's a bitch....so be a dog and cover it!
  • #11,942
  • Oct 11, 2011 8:10am Oct 11, 2011 8:10am
I smell bulls 1665.69 level

we have wild huge volume
  • #11,943
  • Oct 11, 2011 8:37am Oct 11, 2011 8:37am
I just had about 8 requotes trying to put on a long silver position.. maybe they know something I don't? :/

last time that happen it was before one heck of a move..
Anything can happen.
  • #11,944
  • Oct 11, 2011 8:43am Oct 11, 2011 8:43am
Quoting ddinnov
I just had about 8 requotes trying to put on a long silver position.. maybe they know something I don't? :/

last time that happen it was before one heck of a move..
use buystop,sellstop orders,it is the best

I have requotes with gold too,answer is huge volume and broker break sometimes on these volume time...
  • #11,945
  • Oct 11, 2011 9:14am Oct 11, 2011 9:14am
Quoting Doncex
use buystop,sellstop orders,it is the best

I have requotes with gold too,answer is huge volume and broker break sometimes on these volume time...
Where do you think they will run to ? 1678
  • #11,946
  • Oct 11, 2011 9:20am Oct 11, 2011 9:20am
I'm working with strict stop loss technique
I'm using 0.05 lot size with 10$ loss
and after 2 weeks and 44 orders my standing is
21 order closed with loss overall loss -260
23 order closed with overall profit +338

so what I can conclude is i'm not able to put proper TP point and
it happens most of the time that my profit trades are turning into loss trades because of strict 10$ loss decision.

how can I save my profit orders and instead of booking loss, booking some minor profit ?


any suggestion
  • #11,947
  • Oct 11, 2011 9:21am Oct 11, 2011 9:21am
Quoting Goldmansacks
Where do you think they will run to ? 1678
it is possible 1678.xx

I have one buy gold,lets see what hapend next...

comment in pic.
Attached Image (click to enlarge)
Click to Enlarge Name: gold buy.gif Size: 22 KB
  • #11,948
  • Oct 11, 2011 9:28am Oct 11, 2011 9:28am
Quoting Doncex
Nice
thanks

it closed at 1665 with little gain :/

i opened another one at 1668 now with tp 1650 and sl 1675

i just cant see it going higher now, of course i can be easily wrong
  • #11,949
  • Oct 11, 2011 9:32am Oct 11, 2011 9:32am
Quoting GoldenDude
thanks

it closed at 1665 with little gain :/

i opened another one at 1668 now with tp 1650 and sl 1675

i just cant see it going higher now, of course i can be easily wrong
I wish you a luck

what reasons that you go now short gold?
  • #11,950
  • Oct 11, 2011 9:59am Oct 11, 2011 9:59am
Quoting Doncex
I wish you a luck

+1
  • #11,951
  • Oct 11, 2011 10:03am Oct 11, 2011 10:03am
Quoting Goldmansacks
Where do you think they will run to ? 1678
1950 cca But nobody knows why. I will wait for it I have buys from 1600 and 1550
  • #11,952
  • Oct 11, 2011 10:15am Oct 11, 2011 10:15am
Quoting Doncex
it is possible 1678.xx

I have one buy gold,lets see what hapend next...

comment in pic.

Nice charts... yep guess wait and see... I have now closed my scalps long and short, though am looking for another entry point to go short down to $1600 though we will have to wait and see... still looking for $1600 (+/-) to go hard long... $1535 or thereabouts and I am all in for the run up to $2000 , now waiting.


Happy trading.
  • #11,953
  • Oct 11, 2011 10:29am Oct 11, 2011 10:29am
do i see a divergence between price and volume .... ?

where can i get realtime online gold chart with volume indicator ?

below chart from kitco.com
Attached Image (click to enlarge)
Click to Enlarge Name: golddaily01.JPG Size: 66 KB
  • #11,954
  • Oct 11, 2011 10:47am Oct 11, 2011 10:47am
Gold is squeezed today between resistacne & support, above 1639/40 is toward 1651/52, break is to 1668/69 then 1683/84, while below 1634/35 is toward 1614/15 then 1603/04 and possibly all the way toward 1580/81. THIS IS WHAT I WAS EXPECTING UPSIDE WAS EXACTLY 1684 BUT DOWNSIDE DID NOT WORK OUT.
  • #11,955
  • Oct 11, 2011 11:47am Oct 11, 2011 11:47am
Hey guyz

Gold is making a base here either to drop or rise (lol we all know that)

I sense there would be a false move in either direction and then the real move in opposite direction may come . anyway its channel doesn't show much.

Immediate trend is bearish on hourly basis
Attached Image (click to enlarge)
Click to Enlarge Name: fd.gif Size: 30 KB
  • #11,956
  • Oct 11, 2011 11:58am Oct 11, 2011 11:58am
Quoting Doncex
I wish you a luck

what reasons that you go now short gold?
well, i see gold these past few days behaving like a risky asset and europe markets did bad

i am closing it now at 1660 as i will go to bed soon, not bad today
  • #11,957
  • Oct 11, 2011 12:00pm Oct 11, 2011 12:00pm
Quoting Goldmansacks
Nice charts... yep guess wait and see... I have now closed my scalps long and short, though am looking for another entry point to go short down to $1600 though we will have to wait and see... still looking for $1600 (+/-) to go hard long... $1535 or thereabouts and I am all in for the run up to $2000 , now waiting.


Happy trading.
me too

waiting for 1600 to go hard long as well
  • #11,958
  • Oct 11, 2011 12:04pm Oct 11, 2011 12:04pm
Do any one have smell about FOMC.All are looking for that.No vol in comex as well as others.
  • #11,959
  • Oct 11, 2011 12:21pm Oct 11, 2011 12:21pm
Gold: range bound $1589-$1689
  • #11,960
  • Oct 11, 2011 12:27pm Oct 11, 2011 12:27pm
Quoting ngr
Do any one have smell about FOMC.All are looking for that.No vol in comex as well as others.
if you mean the next meeting, that is for 2nd of november (it is actually a 2 day meeting but any decisions will be released to the public on the 2nd)

i doubt people are waiting for that as it is still kinda far though

that's my personal opinion
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