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

  • #16,041
  • Feb 2, 2012 10:09am Feb 2, 2012 10:09am
Quoting Bemac
Cool: Keep up the good work. You're gonn make this work.

Handshake & Hi 5

B
a little early - but revenge trading or trying to recoup loss by doubling lot and going long is not my way to go, easier to heedge.

will close short under loss if it doesnt drop from the 5th and hold the long.


btw i got that white cycle wrong again peeps. its a long. price actually FELL to it. TIme trading 101 if price falls to time - go long. price rises go short.

darrrrn.... got that 5th feb on last chance short opp.


didnt see the fib level atm - jsut put it up. am still "experimenting" with gold - and i already planned for the loss of 4% expected loss in case it happens. i built up in purpose extra 5% for the month of jan just for thsi experiment. kinda my risk cushion. i do that a lot
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Have I got something on my face, SOLDIER?
  • #16,042
  • Feb 2, 2012 10:14am Feb 2, 2012 10:14am
Quoting bumapatria
a little early - but revenge trading or trying to recoup loss by doubling lot and going long is not my way to go, easier to heedge.

will close short under loss if it doesnt drop from the 5th and hold the long.


btw i got that white cycle wrong again peeps. its a long. price actually FELL to it. TIme trading 101 if price falls to time - go long. price rises go short.

darrrrn.... got that 5th feb on last chance short opp.


didnt see the fib level atm - jsut put it up. am still "experimenting" with gold - and i already planned for the loss of...
Oh. Here's the view from my window.
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Take Care but Takem.

B
  • #16,043
  • Feb 2, 2012 10:24am Feb 2, 2012 10:24am
Take Profit on a Friday. Why can't you play like a Big Dog.
Check Aussie for potential Re Entry on Sunday...
This Job requires Knowledge but once you have it...
Study.

B
  • #16,044
  • Feb 2, 2012 10:32am Feb 2, 2012 10:32am
Some Solid calls there Bemac, please always share with us
  • #16,045
  • Feb 2, 2012 10:34am Feb 2, 2012 10:34am
Just shorted gold.
Best,
KR
  • #16,046
  • Feb 2, 2012 10:37am Feb 2, 2012 10:37am
Quoting Knight Rider
Just shorted gold.
Best,
KR
For How Long? Gold can drop for sure.

But, In my opinion, Not much.

B
  • #16,047
  • Feb 2, 2012 10:39am Feb 2, 2012 10:39am
Silver from $26 something to $34 something, thats 30% gain within weeks.

Gold from $1500 something to $1750, thats 15% gain.

And i was thinking of $24 when it saw $26 !
  • #16,048
  • Feb 2, 2012 10:47am Feb 2, 2012 10:47am
Quoting Bemac
For How Long? Gold can drop for sure.

But, In my opinion, Not much.

B
Dear Bemac - you are a legend. I too enjoy your quips.

I am short the DOW and now gold (1759.7). Will remain short if/until it takes out December 2011 high. I get the feeling everybody is bullish on this commodity, so will see. My risk is very small to find out, so why wait till Friday?

As I mentioned before, I will be a buyer (again) in the 1300's - if it gets there. If not, I don't really care.

Best,
KR
  • #16,049
  • Feb 2, 2012 10:51am Feb 2, 2012 10:51am
shorting the dow is so muhc easier than gold. gold is persistent to be broken.

dow is like glass. weaker actually

least this trade can buffer up more cushion for gold short.
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Have I got something on my face, SOLDIER?
  • #16,050
  • Feb 2, 2012 10:52am Feb 2, 2012 10:52am
Quoting Knight Rider
Dear Bemac - you are a legend. I too enjoy your quips.

I am short the DOW and now gold (1759.7). Will remain short if/until it takes out December 2011 high. I get the feeling everybody is bullish on this commodity, so will see. My risk is very small to find out, so why wait till Friday?

As I mentioned before, I will be a buyer (again) in the 1300's - if it gets there. If not, I don't really care.

Best,
KR

So you dont see $1800 before $1400 or $1300 ?
  • #16,051
  • Feb 2, 2012 10:54am Feb 2, 2012 10:54am
I've been long since 1745.58 Will hold atleast til end of next week with price already past a monthly resistance
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  • #16,052
  • Feb 2, 2012 11:04am Feb 2, 2012 11:04am
A Variance of opinion a Market makes.
Where would we be without it.


B
  • #16,053
  • Edited 11:21am Feb 2, 2012 11:08am | Edited 11:21am
Quoting forexfacts
So you dont see $1800 before $1400 or $1300 ?
I don't know how I could make it clearer. If gold takes out the December 2011 monthly high (in a Gann way), then I would suggest it is going much higher. If it doesn't, then I would suggest gold will either consolidate or sell off in the short term.

I am a long term gold bull, however. Do not mistake this.

Liked the one about "I love you long time". You are very funny Bemac - one of the reasons I bother to read these threads from time to time (as well as doing the complete opposite to what most of the crowd often thinks....I, too, like to "pick a pocket or two").

The only other thing that is troubling me a bit is the timing of the listing of Facebook. Wall Street loves to pull in the suckers, only to sell off in a big way. So many major head and shoulders everywhere I look. Normally, I don't pay too much attention...,but they're everywhere!

Best,
KR
  • #16,054
  • Feb 2, 2012 11:11am Feb 2, 2012 11:11am
Quoting Dyekid217
I've been long since 1745.58 Will hold atleast til end of next week with price already past a monthly resistance
glad u can use the demark trendline trader.
i failed badly with it.



i failed every single system out there and oscillator - .. only thing i CAN do is PA , a little order flow still learnin and time trading.

got my click with time so good.. i wanna marry time.

like how u are with vsa right Dye?
soem beatuy trades u psoted so far bro
Have I got something on my face, SOLDIER?
  • #16,055
  • Edited 11:31am Feb 2, 2012 11:19am | Edited 11:31am
Quoting forexfacts
Silver from $26 something to $34 something, thats 30% gain within weeks.

Gold from $1500 something to $1750, thats 15% gain.

And i was thinking of $24 when it saw $26 !
Yes, everything seems to have gone up quite a bit over the last few months. Thankfully, I have sold out half of my stock positions. Had the most amount of risk on since the summer doldrums....been selling into this rally.

If the stock markets/commodities dive say another 25%, I will be a buyer again.

....1970's deja vu.

Best,
KR
  • #16,056
  • Feb 2, 2012 11:34am Feb 2, 2012 11:34am
Quoting Shaggy_rock
how I see gold, I think the orange channel is about to expand,
but could already find resistance in the blue box,
maybe taking a little breath and retrace to break it and testing those
red lines above. Let's see what goes first.

Cheers

S.
1760 hit so i'm out, many possible supports now tho,
51 -47 seems interesting, 40 - 30 if sellers are strong,
trade safe
Old Habits Die Hard.
  • #16,057
  • Feb 2, 2012 11:39am Feb 2, 2012 11:39am
Quoting bumapatria
glad u can use the demark trendline trader.
i failed badly with it.



i failed every single system out there and oscillator - .. only thing i CAN do is PA , a little order flow still learnin and time trading.

got my click with time so good.. i wanna marry time.

like how u are with vsa right Dye?
soem beatuy trades u psoted so far bro
there were some good vsa setups but I found that trading intraday took a toll on me physically since I am on the east coast of the US and staying up during london wasn't really worth the time since I could make pips trading long term and a lot less stressful. I'll still be trying to apply vsa but only on the hourly or above.

Also i find it hard to keep track of all the news releases. I like having a 100-150 pip stop and some breathing room rather than a 35 pip sl that can be whiped out within a matter of minutes.

reconsidering getting out for now there's a pinbar forming on the 4hr indicating selling pressure. If it closes like this and the next 4hr is a sell off then I'll likely get out until the correction is over
  • #16,058
  • Feb 2, 2012 11:41am Feb 2, 2012 11:41am
I'm not boasting. I'm really not, but I have just taken half the risk off that gold trade and now I have a "free ride" to find out.

In my view, it is about trading with as little anxiety as possible and just enjoy the ride. Be a surfer....and yes, "Shaggy", my first loss was my best loss...although I didn't know it at the time.

...I do now!
  • #16,059
  • Feb 2, 2012 11:45am Feb 2, 2012 11:45am
i completely agree. I would never let a trade turn negative on me once my stop is at BE.. for example resetting your stop to your original position.

Once it's at BE I like to leave it there and walk away and check my charts later.

But I know there's some traders out there that see a position going their way.. set their stop to BE, and once it draws back a bit they'll widen their SL again.

plan your trade and trade your plan right?
  • #16,060
  • Feb 2, 2012 11:50am Feb 2, 2012 11:50am
Well, yesterday I draw in my H1 chart a fib retracement and extension that showed me TP @ 1760,04.

Didn't take that trade, because I was expecting an entry at a better price.

At least I shorted @ 1758 TP @ 1753.

It seems Fib gives good signals.

I'll learn more about it.

Bemac, you told us to study. Now, what should I study?
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