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

  • #24,961
  • Sep 2, 2013 4:50am Sep 2, 2013 4:50am
wow ! so many posts to read ! no time to read .

just a quick one ... rush ... rush .... !

my impression based on TA ...

bye .... caveat emptor !
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  • #24,962
  • Sep 2, 2013 9:29am Sep 2, 2013 9:29am
Quoting XTrade
..........
You have been around the block, What do you suggest to newbies???
First and foremost NOT TO TRADE GOLD!

But I think we have different ideas of what trading is.

Holding beyond a few weeks, only looking to go long or buying when price is moving lower (other than short term corrections), averaging in are all in my book investing not trading.

Trading is turning on a dime and going with price up or down. And regardless of going long or short entering once price confirms by, most importantly, going in the anticipated direction expected - i.e. going long takes out previous high.

Investing in gold is not my thing but that I could see a newbie doing it.

But we know what newbies want. Quick results. And they get it. The result: a high percent of them lose.

Sorry if some don't want to read it but it is market reality.

I buy my weekly lotto but keep it real when it comes to trading.



BTW I don't think most here go short most of the time. Quite the opposite.
  • #24,963
  • Sep 2, 2013 9:34am Sep 2, 2013 9:34am
Quoting XTrade
We also were coming off a new monthly high.....
While at the same time the weekly close was below the previous week - if ever so slightly.

But I'm not trying to convince you of anything.

My chart comment was just as to why I believed price reversed on Wednesday.
  • #24,964
  • Sep 2, 2013 9:38am Sep 2, 2013 9:38am
Quoting Paras4you
{quote} KADC, Xtrade, Suntrader and other senior members could you see the weekly chart, and could you please comment on wht you think abut this. {image}
Looks right to me.

Not sure what else you are looking for?

Although on my weekly chart trendline drawn on RSI does not line up as well.
  • #24,965
  • Sep 2, 2013 10:26am Sep 2, 2013 10:26am
Quoting SunTrader
{quote} First and foremost NOT TO TRADE GOLD!
Part of me thinks that after learning to trade gold (with real money), you also gain some insight about your emotional reaction to price swings. Trading gold (and silver, more so), is pretty educational.

Transfer some of this experience to stocks following the next major correction (whenever blood is in the streets again), and add on some basic analysis of company fundamentals, and you could be in a position to trade (or invest) effectively. It would certainly help people learn to take profit at obvious resistance levels and buy shares back up when support is reached.

Price action in the precious metals certainly teaches one to tighten up their money management if they are to survive and eventually profit.
  • #24,966
  • Sep 2, 2013 10:39am Sep 2, 2013 10:39am
Quoting Wheels
{quote} Part of me thinks that after learning to trade gold (with real money),...
Same can be said about trading baseball cards (if anyone does that anymore ) or bottles of expensive wine or .....

When money is on the line you better learn or else.

But Gold IMO is not the place for newbies - far "easier" markets to learn from.
  • #24,967
  • Sep 2, 2013 10:42am Sep 2, 2013 10:42am
Quoting Wheels
{quote} It would certainly help people learn to take profit at obvious resistance levels and buy shares back up when support is reached.
This is good advice that turned it round for me. Along with massive focus on discipline & psychology
Anything can happen.
  • #24,968
  • Sep 2, 2013 10:58am Sep 2, 2013 10:58am
If you go long only.

But as I said earlier then you are investing not trading.
  • #24,969
  • Sep 2, 2013 11:48am Sep 2, 2013 11:48am
Looks like another run above 1400 is on the cards.
I have no clue what I'm talking about.
  • #24,970
  • Sep 2, 2013 11:52am Sep 2, 2013 11:52am
Quoting Boy Wonder
Looks like another run above 1400 is on the cards.
Why?

You seem to have some experience. Please share your reason.
  • #24,971
  • Sep 2, 2013 12:08pm Sep 2, 2013 12:08pm
Quoting Wheels
{quote} Why? You seem to have some experience. Please share your reason.
As ever it's just a hunch based on a bunch of observations, such as: No follow-through on the spike down. Also a pretty good gap up on ES, which I expect to continue. Too much taper talk, perhaps. Too many people seem to think in terms of "to the sky" or "to the floor" neglecting the third option - "going nowhere". I was expecting a range after the thrust from 1200 and I thought that range might extend a bit further down, maybe to 1350ish but it looks like the floor of the range was set on the open last night. Having said that, DX shows no weakness. It'd be helpful to the cause if DX could weaken a bit over the next week.

But eh, it's all just guesses; it's all anyone can do, apart from those with the muscle power to move the markets.
I have no clue what I'm talking about.
  • #24,972
  • Sep 2, 2013 12:13pm Sep 2, 2013 12:13pm
Got to wait till the big boys are back from the Hamptons (tomorrow and onward) for the real move.
  • #24,973
  • Edited 12:28pm Sep 2, 2013 12:17pm | Edited 12:28pm
.
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  • #24,974
  • Sep 2, 2013 12:18pm Sep 2, 2013 12:18pm
Quoting Boy Wonder
{quote} As ever it's just a hunch based on a bunch of observations, such as: No follow-through on the spike down. Also a pretty good gap up on ES, which I expect to continue. Too much taper talk, perhaps. Too many people seem to think in terms of "to the sky" or "to the floor" neglecting the third option - "going nowhere". I was expecting a range after the thrust from 1200 and I thought that range might extend a bit further down, maybe to 1350ish but it looks like the floor of the range was set on the open last night. Having said that, DX...
I have some other thoughts on that little spike too, and just to make it look dramatic (and cause the market is literally crawling) I will use the M5!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,975
  • Sep 2, 2013 12:25pm Sep 2, 2013 12:25pm
Quoting SunTrader
Got to wait till the big boys are back from the Hamptons (tomorrow and onward) for the real move.
Very true. And fair enough, Boy. Was curious what your thinking was, specifically, so thanks for the response.

A new Syria development is a(nother) spike waiting to happen, but I agree with former comments that it will not be the deciding factor in overall movement.

I still think we are now in an uptrend based on typical definitions (higher highs/lows, broke through the 20% level), but this will be tested by the 50% fib on the long term chart....if we move back up to this level.

My expectations are subject to change. Big players usually present the most compelling argument.
  • #24,976
  • Sep 2, 2013 12:28pm Sep 2, 2013 12:28pm
No I agree with you mate!

Usually if I see anything tangible for a few months play I will "TRY" to turn it to a physical "buy and hold" which then yes, would technically be investing,
Yet, if I see that price coning down against me, I'm running to the local shop to get the best price, usually I can plan this far ahead enough to sell most online for an
even better spread. but, have to think about shipping and insurance...
For instance from the run up-
I sold little physical @ +1850
some @ 1800
most @ 1750
and whatever was free is stacked up.

In any case, agree again, newbies want the "dream" FX Brokers sell, "THE EURO IS EASY TO TRADE" I haven't seen this on as of late but,
quick entries long short sideways upside down etc. With minimal learning required.

Agree, About flipping sides. I just think sometimes when it is done on too much of a whim, people lose more than necessary.
Thanks for your Re:

Oh and yeah GOLD / Silver / Oil / Copper, not the best places to start.

Quoting SunTrader
{quote} First and foremost NOT TO TRADE GOLD! But I think we have different ideas of what trading is. Holding beyond a few weeks, only looking to go long or buying when price is moving lower (other than short term corrections), averaging in are all in my book investing not trading. Trading is turning on a dime and going with price up or down. And regardless of going long or short entering once price confirms by, most importantly, going in the anticipated direction expected - i.e. going long takes out previous high. Investing in gold is not my thing...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,977
  • Sep 2, 2013 12:30pm Sep 2, 2013 12:30pm
The Post was CLEARLY not geared - towards - @ - or even for you as stated.

But, I will go back and edit it if I can to see if that will help.

Quoting Boy Wonder
{quote} Jesus, enough already. I'm trying to be patient with you, but you're testing my patience. I'm not some newbie you can lecture. Let it go and find somebody else to lecture with your condescending superiority.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #24,978
  • Sep 2, 2013 12:59pm Sep 2, 2013 12:59pm
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  • #24,979
  • Edited 1:44pm Sep 2, 2013 1:02pm | Edited 1:44pm
Quoting SunTrader
{quote} Can't help you there. I'm a rule breaker. Pardon no guru here either. Just someone who has put in their time.


Please , break ur rules !

Teach me Master !! Pass on ur knowledge . Don't take it with u !!!
  • #24,980
  • Sep 2, 2013 1:18pm Sep 2, 2013 1:18pm
Quoting Paras4you
{quote} KADC, Xtrade, Suntrader and other senior members could you see the weekly chart, and could you please comment on wht you think abut this. {image}

Sure what are your thoughts or what would you like to know about on the weekly Gold tech chart sir!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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