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

  • #29,041
  • Nov 26, 2013 1:39pm Nov 26, 2013 1:39pm
Quoting komrad
{quote} i opened up my post 10 hours ago.. now i want to decide either to hold or closed, no interest in opening new position.. just waiting for us market closed to conclude my trade..

Bomrad,

I think if the price go down 1237,44 (61.8 Fibo), you don't have interest to continue with that trade.

gilfx
  • #29,042
  • Nov 26, 2013 1:39pm Nov 26, 2013 1:39pm
Quoting LarryLU
Call me crazy but I still think it is going down.
You're crazy. Glad we both on the same rescue ship. What method do you use for determining direction and price?
You win, you lose. All else is history. The future does not exist.
  • #29,043
  • Nov 26, 2013 1:43pm Nov 26, 2013 1:43pm
Quoting The Rhodie
{quote} Have you considered GKFX or IG? Ig has MT4 interface.
No sorry, for EA I like to use HotForex
  • #29,044
  • Nov 26, 2013 1:45pm Nov 26, 2013 1:45pm
Quoting bugsbunny110
{quote} you are very good man, you have a good view for chart beside that, this is what I told before but no one listen to me there is different between enjoying to determine the market and making profits for secure profits...
Thanks, buddy. The 6 Viewsonic 20" monitors really help on my video wall. The 15 charts of many markets all show what's going on relevant to gold. The various indicators like volume, dynamic market sentiment, time based reciprocal ratios and other are a massive influence on trades I take or reject. Swing points are good too. They can open a whole new can of worms for you to decipher.
You win, you lose. All else is history. The future does not exist.
  • #29,045
  • Nov 26, 2013 1:47pm Nov 26, 2013 1:47pm
Quoting The Rhodie
{quote} You're crazy. Glad we both on the same rescue ship. What method do you use for determining direction and price?
Only MA and BB. Gold is relatively easy to trade compare with currency, some simple indicator works good here. However, I also value macro factors a lot, and I use it more than technical when trade FX.

Please either break 1240 or bring me back to 1245...
  • #29,046
  • Nov 26, 2013 1:48pm Nov 26, 2013 1:48pm
Quoting gilfx
{quote} Bomrad, I think if the price go down 1237,44 (61.8 Fibo), you don't have interest to continue with that trade. gilfx

i prefer it breach 61.8 level though.. if not close it first and wait for price to retrace to 23.6 or 38.2 level before opening new post.. but maybe after 10 hours or so..
  • #29,047
  • Nov 26, 2013 1:49pm Nov 26, 2013 1:49pm
Gold is under fire from high frequency traders right now. something's going to break it up and move quite a bit, imo.
You win, you lose. All else is history. The future does not exist.
  • #29,048
  • Nov 26, 2013 1:56pm Nov 26, 2013 1:56pm
Quoting The Rhodie
Gold is under fire from high frequency traders right now. something's going to break it up and move quite a bit, imo.
There is still limited HFT in gold, mostly because high spread and less liquidity. A big movement at news announcement not always mean a lot of automatic orders, it could be liquidity. And HFT is not only trading news/announcement, it also do market-making, and take profit between detect a large order and quotation changes.
  • #29,049
  • Nov 26, 2013 2:00pm Nov 26, 2013 2:00pm
Quoting LarryLU
{quote} There is still limited HFT in gold, mostly because high spread and less liquidity. A big movement at news announcement not always mean a lot of automatic orders, it could be liquidity. And HFT is not only trading news/announcement, it also do market-making, and take profit between detect a large order and quotation changes.
You know, I think that is right. Profit clearing and new orders being placed. US law prohibits US investment houses from causing more than a 5% move in the market whilst placing and closing orders. That's exactly what this looks like.
You win, you lose. All else is history. The future does not exist.
  • #29,050
  • Nov 26, 2013 2:05pm Nov 26, 2013 2:05pm
I put a toe in water targeting 1274 .This looks like the drop might finish here and reverse after todays bottoming .
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  • #29,051
  • Nov 26, 2013 2:22pm Nov 26, 2013 2:22pm
Quoting The Rhodie
{quote}Gold was supposed to make the 1268 level today and failed completely...For now gold is bearish overall and not worth trading until 30 mins before LSE opens tomorrow.
"Supposed to"? According to whom?
I have no clue what I'm talking about.
  • #29,052
  • Nov 26, 2013 2:26pm Nov 26, 2013 2:26pm
Yes, I am 100% crazy. Thinking of a new low will be created tomorrow, around 1220. Sliver is down, dollar is up, S&P is up, and tomorrow may be less liquidity. Besides the ytd's option buying, didnt see a single strong buyer coming in today. Just think we need a new low for going up.
  • #29,053
  • Nov 26, 2013 2:27pm Nov 26, 2013 2:27pm
I hope you are right bro,, good luck.

Quoting okanemici
I put a toe in water targeting 1274 .This looks like the drop might finish here and reverse after todays bottoming . {image}
  • #29,054
  • Nov 26, 2013 3:26pm Nov 26, 2013 3:26pm
Quoting ssaqeel
I hope you are right bro,, good luck. {quote}
Thank you , you too
  • #29,055
  • Nov 26, 2013 6:36pm Nov 26, 2013 6:36pm
Quoting LarryLU
{quote} Only MA and BB. Gold is relatively easy to trade compare with currency, some simple indicator works good here....
Easy? Really? I am new to gold, just started few weeks ago. I feel that Gold has a lot of bulls and bears traps, false breakouts etc. Anybody think so? How do you overcome it?

PS: I am using SR levels, pivots, H4 HLs and some moving averages (Sonic R's dragon) in trading.
The true fact is market doesn't care, risk mgt is important.
  • #29,056
  • Nov 26, 2013 6:50pm Nov 26, 2013 6:50pm
Quoting Ssm
{quote} Easy? Really? I am new to gold, just started few weeks ago. I feel that Gold has a lot of bulls and bears traps, false breakouts etc. Anybody think so? How do you overcome it? PS: I am using SR levels, pivots, H4 HLs and some moving averages (Sonic R's dragon) in trading.
I am using just the Sonic R dragon MA's and volumes, and pivots, trendlines and price action.

I find if you try trading the M15, you will get burned unless you know what you are doing, also, trading breakouts, you will get burned, the best way is H1 and H4 and just trade the price action, I only really trade pin bars with high volume, and success rate is around 90% win.
insideBars==boss
  • #29,057
  • Nov 26, 2013 8:10pm Nov 26, 2013 8:10pm
Quoting adamjn
{quote} I am using just the Sonic R dragon MA's and volumes, and pivots, trendlines and price action. I find if you try trading the M15, you will get burned unless you know what you are doing, also, trading breakouts, you will get burned, the best way is H1 and H4 and just trade the price action, I only really trade pin bars with high volume, and success rate is around 90% win.
There is no way to scalp Gold, at least for newbie like me. No way. I uses at least H4 TF for entry.
The true fact is market doesn't care, risk mgt is important.
  • #29,058
  • Nov 26, 2013 8:11pm Nov 26, 2013 8:11pm
Quoting adamjn
{quote} I am using just the Sonic R dragon MA's and volumes, and pivots, trendlines and price action. I find if you try trading the M15, you will get burned unless you know what you are doing, also, trading breakouts, you will get burned, the best way is H1 and H4 and just trade the price action, I only really trade pin bars with high volume, and success rate is around 90% win.

90% win rate is excellent. Good job mate. I hope I can be like you.
The true fact is market doesn't care, risk mgt is important.
  • #29,059
  • Nov 26, 2013 8:12pm Nov 26, 2013 8:12pm
Quoting Ssm
{quote} Easy? Really? I am new to gold, just started few weeks ago. I feel that Gold has a lot of bulls and bears traps, false breakouts etc. Anybody think so? How do you overcome it? PS: I am using SR levels, pivots, H4 HLs and some moving averages (Sonic R's dragon) in trading.
Maybe for LarryLU it's easy. Trading forex is not easy. Personally, I've been trading gold for the past 6 months so I've familiarized myself with trading it. Use whatever system works for you, and stick to your game plan; that way there is no emotion on your part.
  • #29,060
  • Nov 26, 2013 8:27pm Nov 26, 2013 8:27pm
Quoting Elpidius
{quote} Maybe for LarryLU it's easy. Trading forex is not easy. Personally, I've been trading gold for the past 6 months so I've familiarized myself with trading it. Use whatever system works for you, and stick to your game plan; that way there is no emotion on your part.

EA is the best solution
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