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

  • #22,521
  • Edited 1:52am Jan 28, 2013 1:25am | Edited 1:52am
Quoting Jacky2020
GOLD
Markets
Gold gained, paring a fourth monthly loss, Gold Spot up 0.2 % to $1,661.45 and traded at $1,660.10 in Asian Hours Palladium added 0.3 % to $743.75 , the highest intraday price since Sept. 9, 2011.
If you're going to quote Shane Heffernan http://www.livetradingnews.com/gold-...-15-102643.htm (or anyone for that matter):
a) provide a link to the article,
b) don't quote just the least relevant part of his article, and
c) give us your opinion on why you think the article is significant.

Personally, I've never found any of Shane Heffernan's opinions to be particularly useful, but he sometimes includes useful information which he generally ignores in reaching his opinion. (In this case that Russia and Kazakhstan increased their gold stockpiles 1.7% & 2.1% respectively.)
You can always make money tomorrow provided you don't lose it today.
  • #22,522
  • Jan 28, 2013 1:51am Jan 28, 2013 1:51am
Going to do some research before I begin demo trading XAG/USD. Want to start off on the right foot.
  • #22,523
  • Jan 28, 2013 4:20am Jan 28, 2013 4:20am
Quoting lilpip
Yes, on the arrows showing breakout just different angle getting there.
From my angle your may arrow was a weekly and followed by a monthly break.
Her rotation up from 1525 was a weekly low.
Her retest of may break also was confirmed with a bounce south of quarterly 1628 and 2012 yearly pivot 1600 the primary and secondary trend.

Charts are naked, tweeked floor traders pivot is what I mostly use .
Read about Jesse Livermore stock operator .
Cheers
appreciate ur insight , thank you very much.

curious to know/learn more of ur 'tweaked floor pivot' and ur quartely,yearly and long term (2013,2014) 'forecast' of gold and silver

  • #22,524
  • Jan 28, 2013 4:22am Jan 28, 2013 4:22am
Quoting shaukat113
Elliott elongated flat correction down 1648.82
It may meet resistance in 1659.26 - 1662.62 zone for a drift down to 1652.75 zone, after which bounce to 1669.13 is anticipated.
Warning: Imminent end of bearish move
can post a chart ?
  • #22,525
  • Jan 28, 2013 4:34am Jan 28, 2013 4:34am
Any one roughly knows the results timing of the FOMC meetings end of this month? 29, 30th (2 day meetings) and 31st Jan 2013, G20 statistical release of finance companies? In addition, upcoming NFP friday ? Same time as Jan 2013?

Thanks.

Hmm, the ECB weekly schedule this week with the mentioned above could have impact on markets. They seem to be held at very close dates altogether in this week.

I expect to see spikes on such timings. Like NFP Jan 2013.

http://www.ecb.int/press/weekly/html/index.en.html
http://www.federalreserve.gov/moneta...dars.htm#18545
http://www.federalreserve.gov/whatsnext.htm
http://www.ecb.int/events/calendar/s.../index.en.html
  • #22,526
  • Jan 28, 2013 6:16am Jan 28, 2013 6:16am
Quoting shaukat113
Elliott elongated flat correction down 1648.82
It may meet resistance in 1659.26 - 1662.62 zone for a drift down to 1652.75 zone, after which bounce to 1669.13 is anticipated.
Warning: Imminent end of bearish move
bounce from 1653.36, now looking for 1665-69 area.may be 1668.4666.
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just live a life, don't be hard.
  • #22,527
  • Jan 28, 2013 10:27am Jan 28, 2013 10:27am
Well, people it’s time for me to sadly say my goodbyes……

I have decided to accept an offer to publish daily forex chart analysis for paying subscribers at Coghlan Capital. This will start at the beginning of March and under the Forex Factory rules, as a “professional”, I will not be able to post here any longer. It would also not be fair to those paying subscribers if charts were freely available on this thread ….

Over the years I have made many friends here (and probably a few enemies). I have learnt some things along the way and I hope that my comments and witterings have on occasions given some of you reason to pause for thought. It’s all too easy to get bogged down in the daily rumblings and shenanigans.

If I have banged on about my techniques it is only because I have found them to be extremely effective. If I have bored you rigid asking for reasons and explanations it is only because I demand rational analysis rather than “finger in the air” claims. The markets are adept at parting ingénues from their money, and I would like to think that I may have helped some people step away from the rash and unfounded statements so often found on the internet and ponder a bit about what is really going on.

If I had three wishes they would be:
Firstly, that people who make predictions without reasons or evidence are called out as charlatans but otherwise ignored.
Secondly, that people took time to read the thread.
Thirdly, that nobody was ever permitted to trade without a stop.

So, with thanks to all of you, but particularly to XTrade for his stewardship of this thread, I bid you farewell and wish you all health and happiness.

Who knows, I might even see some of you at www.coghlancapital.com in the future…..

beeb
  • #22,528
  • Jan 28, 2013 10:29am Jan 28, 2013 10:29am
Quoting TheArcher
appreciate ur insight , thank you very much.

curious to know/learn more of ur 'tweaked floor pivot' and ur quartely,yearly and long term (2013,2014) 'forecast' of gold and silver

Calculate pivots on not only last single timeframe but also last 3 of any timeframe.
Use last 5 days for your daily.
Higher the timeframe stronger the trend.
I Only look a year out, past posts of jan 3-8 area 2011 and 2012 discuss what I consider looking at a yearly.
  • #22,529
  • Jan 28, 2013 10:32am Jan 28, 2013 10:32am
Quoting beeb
Well, people it’s time for me to sadly say my goodbyes……

I have decided to accept an offer to publish daily forex chart analysis for paying subscribers at Coghlan Capital. This will start at the beginning of March and under the Forex Factory rules, as a “professional”, I will not be able to post here any longer. It would also not be fair to those paying subscribers if charts were freely available on this thread ….

Over the years I have made many friends here (and probably a few enemies). I have learnt some things along the way and I hope that...
Let me say that this place won't be the same without you. All the best on your new venture and see you there!
Education has its reward, ignorance has its price.
  • #22,530
  • Jan 28, 2013 10:37am Jan 28, 2013 10:37am
Quoting beeb
Well, people it’s time for me to sadly say my goodbyes……

I have decided to accept an offer to publish daily forex chart analysis for paying subscribers at Coghlan Capital. This will start at the beginning of March and under the Forex Factory rules, as a “professional”, I will not be able to post here any longer. It would also not be fair to those paying subscribers if charts were freely available on this thread ….

Over the years I have made many friends here (and probably a few enemies). I have learnt some things along the way and I hope that...

I wish you the best, beeb.

Thanks for sharing your knowledge with us.
  • #22,531
  • Jan 28, 2013 10:52am Jan 28, 2013 10:52am
sigh !
  • #22,532
  • Jan 28, 2013 11:10am Jan 28, 2013 11:10am
Quoting beeb
Well, people it’s time for me to sadly say my goodbyes……

I have decided to accept an offer to publish daily forex chart analysis for paying subscribers at Coghlan Capital. This will start at the beginning of March and under the Forex Factory rules, as a “professional”, I will not be able to post here any longer. It would also not be fair to those paying subscribers if charts were freely available on this thread ….

Over the years I have made many friends here (and probably a few enemies). I have learnt some things along the way and I hope that...




thank you for are knowledge you shared with us it was very helpful and wish for the best hope you succeed in you new jop
  • #22,533
  • Jan 28, 2013 11:57am Jan 28, 2013 11:57am
Quoting beeb
Well, people it’s time for me to sadly say my goodbyes……

I have decided to accept an offer to publish daily forex chart analysis for paying subscribers at Coghlan Capital. This will start at the beginning of March and under the Forex Factory rules, as a “professional”, I will not be able to post here any longer. It would also not be fair to those paying subscribers if charts were freely available on this thread ….

Over the years I have made many friends here (and probably a few enemies). I have learnt some things along the way and I hope that...
You will be sorely missed. :
If you think you can or cannot do it you are correct
  • #22,534
  • Jan 28, 2013 12:10pm Jan 28, 2013 12:10pm
I have a quick question. I did actually place one short trade on Silver last night.

Short @ 31.1774
Take Profit @ 30.0348

I'm having a problem trying to figure out how many pips I actually made. I'm used to EUR/USD so this is a new way of viewing price. I know this is probably a stupid question but can somebody please help me figure out how Silver is calculated? I would greatly appreciate it.
  • #22,535
  • Jan 28, 2013 12:29pm Jan 28, 2013 12:29pm
Quoting Donatello
I have a quick question. I did actually place one short trade on Silver last night.

Short @ 31.1774
Take Profit @ 30.0348

I'm having a problem trying to figure out how many pips I actually made. I'm used to EUR/USD so this is a new way of viewing price. I know this is probably a stupid question but can somebody please help me figure out how Silver is calculated? I would greatly appreciate it.
114. My silver is in 2 decimals on my platform. Excellent trade by the way...

Olu
If you think you can or cannot do it you are correct
  • #22,536
  • Jan 28, 2013 1:32pm Jan 28, 2013 1:32pm
Thank you for clearing that up for me and thanks for the comment about the trade. I'm totally new to Silver but I'm looking forward to the challenge of learning to trade it profitably.

I planned to start with a $2k Oanda demo account but once I realized I was only able to trade 63 units I had to increase the demo account size. I had to use a $1 million demo account just to be able to trade at a maximum of $3 per pip. I'm sure I'm doing something wrong because with a $1 million account I would think that the maximum (not that I want to trade the maximum) amount allowed would be much higher than $3 per pip.

As time goes on I will get better at knowing about Silver and why so much more capital is required.

Quoting Olu
114. My silver is in 2 decimals on my platform. Excellent trade by the way...

Olu
  • #22,537
  • Jan 28, 2013 2:36pm Jan 28, 2013 2:36pm
Quoting Donatello
Thank you for clearing that up for me and thanks for the comment about the trade. I'm totally new to Silver but I'm looking forward to the challenge of learning to trade it profitably.

I planned to start with a $2k Oanda demo account but once I realized I was only able to trade 63 units I had to increase the demo account size. I had to use a $1 million demo account just to be able to trade at a maximum of $3 per pip. I'm sure I'm doing something wrong because with a $1 million account I would think that the maximum (not that I want to trade...
$3/pip for silver is $300/$1 movement in the price of silver (roughly 1/17th the size of a normal silver futures contract). 63 of these units would be $18,900 per $1 move in silver which I'm guessing is more than you'd ever want to risk even if you could afford it.

If you opened your account with $2,500 a single unit of silver moving 50¢ (a 1.62% move is quite common) at $3/pip would represent 6% of your total account which I believe most people would consider to be just a bit much for a reasonable maximum risk per position but not entirely out of the question.

If Oanda traded actual futures contracts (rounding off silver to $31) 63 contracts would represent $31x63x5,000=$9,765,000 and half that for a Miny. The initial margin and overnight margin for silver is $16,940 per contract and $11,000 for daily maintenance and half that for a Miny so you would need $1,067,220 in margin to initiate a 63 contract trade and god help you if it went the wrong way.
You can always make money tomorrow provided you don't lose it today.
  • #22,538
  • Jan 28, 2013 2:40pm Jan 28, 2013 2:40pm
Quoting beeb
Well, people it’s time for me to sadly say my goodbyes……

I have decided to accept an offer to publish daily forex chart analysis for paying subscribers at Coghlan Capital. This will start at the beginning of March and under the Forex Factory rules, as a “professional”, I will not be able to post here any longer. It would also not be fair to those paying subscribers if charts were freely available on this thread ….
...
Who knows, I might even see some of you at www.coghlancapital.com in the future….....
Congratulations on the job, and I hope you will still post comments from time to time even if you cannot post your charts.
You can always make money tomorrow provided you don't lose it today.
  • #22,539
  • Jan 28, 2013 3:16pm Jan 28, 2013 3:16pm
Quoting Donatello
Thank you for clearing that up for me and thanks for the comment about the trade. I'm totally new to Silver but I'm looking forward to the challenge of learning to trade it profitably.

I planned to start with a $2k Oanda demo account but once I realized I was only able to trade 63 units I had to increase the demo account size. I had to use a $1 million demo account just to be able to trade at a maximum of $3 per pip. I'm sure I'm doing something wrong because with a $1 million account I would think that the maximum (not that I want to trade...
Changed your leverage already ? Btw for oanda leverage for silver is 1:20 maximum, currency 1:50. Read their risk exposure policy. 1000 units would be about 750++$. Your profit in pips n dollars are found out by clicking in the trade in the pop up. 100 pip in xag usd is like 1 pip if u compare with a few other pairs. One thousand pip is 0.1 in the interface.
  • #22,540
  • Jan 28, 2013 4:04pm Jan 28, 2013 4:04pm
Thank you for your help. I have much to learn.

Quoting KADC
$3/pip for silver is $300/$1 movement in the price of silver (roughly 1/17th the size of a normal silver futures contract). 63 of these units would be $18,900 per $1 move in silver which I'm guessing is more than you'd ever want to risk even if you could afford it.

If you opened your account with $2,500 a single unit of silver moving 50¢ (a 1.62% move is quite common) at $3/pip would represent 6% of your total account which I believe most people would consider to be just a bit much for a reasonable maximum risk per position but not entirely...
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