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

  • #13,621
  • Edited 2:14am Nov 24, 2011 2:01am | Edited 2:14am
Quoting XTrade
It should be one to one as the rest of the us brokers. YOu just need to find one that trades .01 or micro lots. It still sucks up a lot of margin but it's worth it if you are sure on a trade.
Well with Oanda you can trade 1 unit which is about $1700 per unit. .01 micro lots would be equal to 10 units, so that is almost 17K USD.

EDIT: with 1:1 you get 1 unit at the current market price. i.e. gold is at 1693.32 the 1 unit is 1693.32.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #13,622
  • Nov 24, 2011 4:05am Nov 24, 2011 4:05am
H1 candle close above 1700 and US holiday i'm expecting atleast 1710 next supply level
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  • #13,623
  • Nov 24, 2011 4:24am Nov 24, 2011 4:24am
Quoting jaimini
H1 candle close above 1700 and US holiday i'm expecting atleast 1710 next supply level
Thanks for commment jaimini I have one long since london open and now I put sl on BE
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  • #13,624
  • Nov 24, 2011 4:25am Nov 24, 2011 4:25am
Quoting XTrade
USDX

COMING UP ON WHAT should be some STIFF REZZZZISTANCE!!!

yeah, i agree. i have closed my long for + 8 pips (nothing to laugh about !). i think market will dip for a bit before going up again.

will try to scalp the dip. then load more longs !


  • #13,625
  • Nov 24, 2011 4:29am Nov 24, 2011 4:29am
Quoting Doncex
Thanks for commment jaimini I have one long since london open and now I put sl on BE
looks like bear wants to sell more and they can't wait upto 1710
me also SL @BE
i was thinking to lock @1702 but my badluck
  • #13,626
  • Nov 24, 2011 5:34am Nov 24, 2011 5:34am
market is moving at snails pace. i dont feel comfortable trading today. 3 pips movement in the last 2 hrs is ridiculous. iam loading a swing long position and leaving for the day...
  • #13,627
  • Nov 24, 2011 5:35am Nov 24, 2011 5:35am
after buy at 1680.20 last night i have take profit.... at 1705,00

thanks god bless our live .......

btw after i have trader for 3 time, with buy position on xau usd...
i think 1664.xx strong suport, maybe very save for buy position near that area, any suggest?
  • #13,628
  • Nov 24, 2011 5:38am Nov 24, 2011 5:38am
Quoting Sreym33
LOL - no- why 'cause i referenced some descriptions? that was more for everyone else out there.
glad you are confident now after your movie.

the reason why i asked if you are a newbie or not, is because you left a comment on another page asking someone to help you make 300 (?) because you are a newbie ?

in any case, how long have you been trading....
  • #13,629
  • Nov 24, 2011 5:41am Nov 24, 2011 5:41am
Quoting teguh
after buy at 1680.20 last night i have take profit.... at 1705,00

thanks god bless our live .......

btw after i have trader for 3 time, with buy position on xau usd...
i think 1664.xx strong suport, maybe very save for buy position near that area, any suggest?


highly likely to be a strong support, but ONLY if market falls that far. it will probably go up and up long before that...
  • #13,630
  • Nov 24, 2011 5:42am Nov 24, 2011 5:42am
Quoting whatfx
market is moving at snails pace. i dont feel comfortable trading today. 3 pips movement in the last 2 hrs is ridiculous. iam loading a swing long position and leaving for the day...
Big Holiday in the U.S. today and as we approach the the Holiday season expect liquidity to shrink.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #13,631
  • Nov 24, 2011 5:49am Nov 24, 2011 5:49am
Quoting whatfx
highly likely to be a strong support, but ONLY if market falls that far. it will probably go up and up long before that...
Yes i am agree, history last day on us market, xau usd going down... so i will wait and see to open buy position on us market....,,

thanks for the sugest
  • #13,632
  • Nov 24, 2011 5:51am Nov 24, 2011 5:51am
Quoting LasVahGoose
I have no idea, all I know is I don't have enough in my account to trade the metals, so I'm out of the game.

EDIT: yeah, 1:1 ratio.
I want to ask what instrument you are trading? stock market? forex market? oil? index? can you explain more?

which instrument the easiest to analyze?
  • #13,633
  • Nov 24, 2011 6:10am Nov 24, 2011 6:10am
US is closed,will it keep gold under range?
Trade responsiblypatience is the key/Swing trader
  • #13,634
  • Nov 24, 2011 6:48am Nov 24, 2011 6:48am
[quote=XTrade;5162385]Here is another mini lesson.

Don't always try (as many do not just you) to correlate GOLD to something else.

Not even the dollar index?
Patience is magic
  • #13,635
  • Nov 24, 2011 6:53am Nov 24, 2011 6:53am
Quoting Doncex
I want to ask what instrument you are trading? stock market? forex market? oil? index? can you explain more?

which instrument the easiest to analyze?
I'm not trading too much these days, but pretty much 'the forex' live and everything else demo.

Technical Analysis works across instruments and markets, so the analysis is pretty much the same as far as TA goes.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #13,636
  • Nov 24, 2011 7:46am Nov 24, 2011 7:46am
This is an exerpt from an emailed daily report that I receive:

Why the Fed will Start QE3

The release of the Fed’s meeting minutes from their previous FOMC meeting on November 2nd show that “A few members indicated that they believed the economic outlook might warrant additional policy accommodation,” The meeting minutes also noted that any announcement would be more effective in a future communications initiative.

Past comments from Fed Chairman Ben Bernanke have been supportive of additional monetary policy moves. On September 29th in Cleveland, Ohio, Bernanke said, “If inflation itself falls too low or inflation expectations fall too low, that would be something we’d have to respond to because we don’t want deflation.” Given last week’s headline CPI that showed a -0.1% contraction in m/m inflation during October it appears that inflation pressures have already begun to decline in the US economy. It is also important to note the downward revision to Q3 GDP to 2.0% from 2.5% and a stubborn unemployment rate stuck at 9.0%.

With the European debt crisis appearing to intensify, it is possible then that Bernanke and the Fed will act to support the US economy with another round of quantitative easing (QE3) which in all likelihood will be a negative for the USD.
  • #13,637
  • Nov 24, 2011 8:43am Nov 24, 2011 8:43am
Quoting Sreym33
.........

Why the Fed will Start QE3

........... which in all likelihood will be a negative for the USD.
I often see this kind of analysis where they forget to mention about the other currencies the dollar is paired up with such as the biggie .... Euro.

The US economy, relatively speaking, is doing better than the EZ even if QE III is needed.

Now the talk has turned to how badly the US will be affected by the EZ falling into the dumper.

IMO how fundamentals affect the markets are a guessing game.
  • #13,638
  • Nov 24, 2011 9:11am Nov 24, 2011 9:11am
well, market has finally started to move. i wanted to scalp on the downside as a stated in my last two post.

should have, as i missed out now. could have got 5-6 pips at least. oh well, i think i may have missed the boat now.

looking to enter another long in the next few hours..
  • #13,639
  • Edited 12:44pm Nov 24, 2011 12:43pm | Edited 12:44pm
I still see 1695 no real movement. Maybe I guess if you are scalping. Even then a spread of almost a dollar puts a damper on that.
Don't expect much. Today is a US bank holiday

and

HAPPY THANKSGIVING!!!

Eat LOTS of Turkey tonight!

Quoting whatfx
well, market has finally started to move. i wanted to scalp on the downside as a stated in my last two post.

should have, as i missed out now. could have got 5-6 pips at least. oh well, i think i may have missed the boat now.

looking to enter another long in the next few hours..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,640
  • Nov 24, 2011 12:47pm Nov 24, 2011 12:47pm
Don't know if it had been post but...

Silver Wars: Eric Sprott to Purchase $1.5 Billion in Physical Silver for Fund.

Eric Sprott has been working and planning this new ETF for a long time, and with silver prices being forced down due to a global liquidity crisis, the time is right for him to strike the physical silver markets with over $1.5 billion dollars in ammunition. The silver wars are about to begin, and the old guard of the markets will unlikely be prepared for the coming battle.

A good interview of him dated from November 13

http://seekingalpha.com/article/3075...th-eric-sprott

You experienced the same kind of reaction I believe when you recently wanted to purchase some silver. Where it took a little longer than what one would think to be normal.

E: Well, when we started the Silver Chest, we had to go into the market and buy 15 million ounces. This was about exactly a year ago. And 15 million ounces at the time, [an ounce] was probably $20, was like 300 million worth of silver, which is not a lot of silver. And you would think people advertise it as a billion ounces of silver and you want to buy 15, you’d get pretty speedy delivery. It took us 3 months for us to get the silver and some of that silver that was delivered to us was manufactured after we had made the purchase agreement. Which really means, in my mind, there wasn’t a tremendous amount of silver lying around waiting to be delivered.


P: So there could be the possibility that we may have a lot less inventory than what appears to be told on these government reports.


E: Sure, nobody really knows how much inventory there is. We know how much is in Comex, we know how much the PSLV owns, but theoretically that shouldn’t be available, beyond that, I just don’t believe there’s huge amounts of silver and we are buyers of silver every day. We’re very often delayed on our shipments. You know we could go in and buy 2 or 300 thousand ounces and we sort of get the common “Well, you know that shipment is going to take 2 or 3 weeks”, which really means, I don’t think there is really any ready silver inventory that’s just waiting for someone to say “Ok fine, I’m going to buy” [then] “We’ll deliver it to you” because it’s not really that difficult to deliver silver.
US Dollar is trash... Get out of that Ponzi scheme !!!
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