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

  • #3,821
  • Mar 23, 2011 3:10pm Mar 23, 2011 3:10pm
why is the silver price still going strong will it drop i sold alot of contract and my account is going to get closed if it will stay rising this way what do u expert advice me
thanks alot
  • #3,822
  • Mar 23, 2011 4:00pm Mar 23, 2011 4:00pm
Quoting bilal996
why is the silver price still going strong will it drop i sold alot of contract and my account is going to get closed if it will stay rising this way what do u expert advice me
thanks alot
Simple- demand is greater than supply. Others may try and give you the reasons, but this is all you need to concern yourself with.

I take it you are going to get a margin call? My advice is to stop trading in this manner, not that shorting was wrong but not controlling your risk is. No one trade should ever have the ability to cause serious damage to your account.

Trading has nothing to do with being right or wrong, its about risk control and psychology.
  • #3,823
  • Mar 23, 2011 4:58pm Mar 23, 2011 4:58pm
For physical metal this is not a buy right now.

You need to take a weekly and then a daily chart and plot major support and resistance. Don't use CANDLEsticks USE a LINE chart.

THen essentially you want to buy on a dip. We can get into this again later.

Quoting fawaol
What can be the method of adding to the position if enter to unmarked region (as Ag now)?????

What is the key levels for Ag????
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,824
  • Mar 23, 2011 5:00pm Mar 23, 2011 5:00pm
OK current chart.

Still long - and added on that gap closure.

we need to take out 1440 in the immediate.

I added a speculative green line to the chart.

Notice how the lines show the turns candles show the extreme highs.
It is something to be argued, yet I contend the truer resistance is shown with line chart plotting. Not from the high of the day. Think about it. It makes sense.
Attached Image(s) (click to enlarge)
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,825
  • Mar 23, 2011 5:10pm Mar 23, 2011 5:10pm
Quoting highlander2
Simple- demand is greater than supply. Others may try and give you the reasons, but this is all you need to concern yourself with.

I take it you are going to get a margin call? My advice is to stop trading in this manner, not that shorting was wrong but not controlling your risk is. No one trade should ever have the ability to cause serious damage to your account.

Trading has nothing to do with being right or wrong, its about risk control and psychology.
  • #3,826
  • Mar 23, 2011 5:21pm Mar 23, 2011 5:21pm
GOLD AND SILVER ARE COMMODITIES.

They act differently than currencies, they are somewhat finite, whereas paper fiat money is infinite all you need to do is print.

There may be some correction but silver is in a MASSIVE bull run, so I will say actually selling was wrong. You should be looking to BUY DIPS and HOLD.

I have been in my gold positions since last week and just bought again on a dip.

The trend is UP. Thus like the saying goes the trend is your FRIEND.
If and when it turns then you sell rallies like I do with the USD/CHF pair because the prevailing TREND is still DOWN. GOLD IS UP. Silver UP - oil UP copper UP. Commodities up. Read news and Highlander makes a good point about RISK control and psychology.

Quoting bilal996
why is the silver price still going strong will it drop i sold alot of contract and my account is going to get closed if it will stay rising this way what do u expert advice me
thanks alot
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,827
  • Mar 23, 2011 5:56pm Mar 23, 2011 5:56pm
I love silver !!
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #3,828
  • Mar 23, 2011 11:24pm Mar 23, 2011 11:24pm
Quoting auxesis
Some reading material, Lilpip will like this.

http://www.gata.org/files/ThunderRoa...02-24-2011.pdf
I missed this aux.
thanks for the read.
  • #3,829
  • Mar 24, 2011 12:17am Mar 24, 2011 12:17am
Quoting lilpip
that quarterly trend guid 26.28 area was here and gone quickly to start the year but I didnt think id be begging her to come back to 33.61 and 32.47 in the first full week of march.
silver
march monthly
37.03
32.47
27.91
well we took our scalps and made it to 33.61 area last week.
with a daily close above 37.03, will be watching how 36.77-96 area responds as she test today the projected monthly highs area for a 2nd time in a more convincing matter as this time its for support .

question in my mind is if shes getting ready to follow gold to 1450 area which would seem to be the next step.
weekly gold
1447-50
1415
1383
monthly
1450
1389
1328
  • #3,830
  • Mar 24, 2011 12:27am Mar 24, 2011 12:27am
Quoting Bootleger
I love silver !!
I hear ya.
You'll love her even more when shes 15 to 1.
  • #3,831
  • Mar 24, 2011 3:50am Mar 24, 2011 3:50am
Quoting XTrade
How to trade a ratio using physical metal is as follow.

You buy xxx ozs of silver and it rises fifteen dollars you then take profit.

Next gold and silver both dip in terms of USD.

yet say you have sold your silver for $30 usd and gold dips to 1300
you then buy all the gold you can with your cash profits. (...)
This sounds like someone trading a pair XAUXAG

Here is a nice XAUXAG chart: http://www.xe.com/currencycharts/?fr...to=XAG&view=5Y

At the moment, the market is bullish on silver and bearish on gold - the ratio fell from over 70 last year to under 40 right now.

If the trend continues, the next targets should be $1500 for gold and $40 for silver, ratio 37.5:1
"The reason I was born and came into the world is to testify to the truth."
  • #3,832
  • Mar 24, 2011 6:08am Mar 24, 2011 6:08am
Interesting text for newbies like me (maybe for the others, too). It's simplified enough to be understandable.

http://seekingalpha.com/article/2572...rage-in-london

So people think they are keeping their precious metals in those vaults, but nothing is kept there. Real horror show.
"The reason I was born and came into the world is to testify to the truth."
  • #3,833
  • Mar 24, 2011 6:13am Mar 24, 2011 6:13am
Looking at the rate silver is flying up, i would not be surprised that we could see a biggest ever silver drop in a day range but probably not so soon. Is better to tighten my profit stop loss on my long trade at 34.5 to 36.
  • #3,834
  • Mar 24, 2011 6:58am Mar 24, 2011 6:58am
Quoting etranger
Looking at the rate silver is flying up, i would not be surprised that we could see a biggest ever silver drop in a day range but probably not so soon. Is better to tighten my profit stop loss on my long trade at 34.5 to 36.
U're right, not so soon
  • #3,835
  • Mar 24, 2011 7:09am Mar 24, 2011 7:09am
Quoting XTrade
GOLD AND SILVER ARE COMMODITIES.

They act differently than currencies, they are somewhat finite, whereas paper fiat money is infinite all you need to do is print.

There may be some correction but silver is in a MASSIVE bull run, so I will say actually selling was wrong....
gold may be up, but there is strong resistance ahead. if it doesnt break through then look for gold to fall rapidly before retesting that level again.

long positions should only be taken with small stakes. if it falls then further small stake long positions can be added.

do u have a particular trading strategy you use ? iam curious to know what indicators you use also...l
  • #3,836
  • Mar 24, 2011 7:35am Mar 24, 2011 7:35am
I missed out this again morning, was with the wife. My crazy brother didn't though, he was doing 1000$ a point on silver and made 35k. That is a normal day for him, but you should see his losses when it goes wrong doing that per point .
  • #3,837
  • Mar 24, 2011 8:49am Mar 24, 2011 8:49am
Quoting Euroscum
I missed out this again morning, was with the wife. My crazy brother didn't though, he was doing 1000$ a point on silver and made 35k. That is a normal day for him, but you should see his losses when it goes wrong doing that per point .
Do not scold him too much, ok?
  • #3,838
  • Mar 24, 2011 9:01am Mar 24, 2011 9:01am
Waiting for the 1460lvl to sell 50% of my lots and 1500 the next 50%.....1440 appears to be a tough nut to crack...we'll see...
Attached Image (click to enlarge)
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  • #3,839
  • Mar 24, 2011 9:06am Mar 24, 2011 9:06am
Quoting Euroscum
I missed out this again morning, was with the wife. My crazy brother didn't though, he was doing 1000$ a point on silver and made 35k. That is a normal day for him, but you should see his losses when it goes wrong doing that per point .
1000$ per pip? no wonder you call him "crazy". Is he going to buy the Merceder for you?

----//----//----

Silver keeps making fresh highs, while gold is stuck below that barrier. Funny thing. If silver continues to rise, at some point (maybe $38) gold may explode the resistance in order to follow it. Let's see. Pity, I don't have any longs now.
"The reason I was born and came into the world is to testify to the truth."
  • #3,840
  • Mar 24, 2011 9:51am Mar 24, 2011 9:51am
new high!
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