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

  • #4,161
  • Apr 4, 2011 7:59pm Apr 4, 2011 7:59pm
I am sick of trading silver mines (most of them underperforming the metal) and I am looking for the leverage that the Forex with XAG gives but....
I could find NO information about XAG besides the fact it is the "spot" silver price.

Which contract is it? is it like buying unallocated silver i.e. not backed by anything?
Does XAG have any relationship with LBMA?

XAG must be correlated with the COMEX Silver price: what happens to XAG if the COMEX defaults on Silver deliveries?
Can they stop XAG trading?
How about counterparty risks?

Thanks!!!
  • #4,162
  • Apr 4, 2011 11:11pm Apr 4, 2011 11:11pm
Quoting harvest3r
Yes

Germany has some funny rules: 7% for coins and 19% for bars...
I wanted to buy also platinum bars but the dealer told me i had to pay 19% VAT so i stuck to gold which is VAT free.
  • #4,163
  • Apr 4, 2011 11:33pm Apr 4, 2011 11:33pm
the earlier post of 38.85 area for days profits looks pretty good to me also. one would think we would rotate back to test daily breakout @ 38.00 area.
tue daily
38.92-99
37.90-38.07
37.00
tue daily
1442
1428
1413
weekly
1451-3
1418-20
1387
monthly
1466
1396
1345
quarter
1490
1345
  • #4,164
  • Apr 5, 2011 1:29am Apr 5, 2011 1:29am
Quoting SilverRocket
I am sick of trading silver mines (most of them underperforming the metal) and I am looking for the leverage that the Forex with XAG gives but....
I could find NO information about XAG besides the fact it is the "spot" silver price.

Which contract is it? is it like buying unallocated silver i.e. not backed by anything?
Does XAG have any relationship with LBMA?

XAG must be correlated with the COMEX Silver price: what happens to XAG if the COMEX defaults on Silver deliveries?
Can they stop XAG trading?
How about counterparty risks?

Thanks!!!

XAG is spot silver and is essentially a vehicle like forex. You are trading the price of silver rather than anything tangible. There is plenty of information on the web - I suggest you do some googling....



beeb
  • #4,165
  • Apr 5, 2011 3:50am Apr 5, 2011 3:50am
Quoting lilpip
the earlier post of 38.85 area for days profits looks pretty good to me also. one would think we would rotate back to test daily breakout @ 38.00 area.
tue daily
38.92-99
37.90-38.07
37.00
tue daily
1442
1428
1413
weekly
1451-3
1418-20
1387
monthly
1466
1396
1345
quarter
1490
1345
that 1 h evening star like pattern supports your 38 area..
lets see how it plays out
good trading
Attached Image
  • #4,166
  • Apr 5, 2011 4:18am Apr 5, 2011 4:18am
Quoting beeb
OK well let me show you 240min GC via forks - real trades from recent days....

Chart 1 is what I drew when I saw quartile action - gave me a possible fork......
Thanks! I can't view any of the links tho, all are broken .
  • #4,167
  • Apr 5, 2011 4:40am Apr 5, 2011 4:40am
Quoting Wysie
Thanks! I can't view any of the links tho, all are broken .

That's because I've now deleted them - old news.....

beeb
  • #4,168
  • Apr 5, 2011 6:02am Apr 5, 2011 6:02am
Quoting lilpip
the earlier post of 38.85 area for days profits looks pretty good to me also. one would think we would rotate back to test daily breakout @ 38.00 area.
tue daily
38.92-99
37.90-38.07
37.00
tue daily
1442
1428
1413
weekly
1451-3
1418-20
1387
monthly
1466
1396
1345
quarter
1490
1345
  • #4,169
  • Apr 5, 2011 6:06am Apr 5, 2011 6:06am
If 38.10 area doesn't hold would suggest next poss support around 37.60

Interesting how gold holding up better....

beeb
  • #4,170
  • Apr 5, 2011 6:56am Apr 5, 2011 6:56am
Yep, I am hoping that 38 will hold as support. It came within a few points of my first target last night. I have now moved to better than BE under 37.50.

highlander2
  • #4,171
  • Apr 5, 2011 7:29am Apr 5, 2011 7:29am
Quoting highlander2
Yep, I am hoping that 38 will hold as support. It came within a few points of my first target last night. I have now moved to better than BE under 37.50.

highlander2

looking good highlander....

beeb
  • #4,172
  • Apr 5, 2011 7:40am Apr 5, 2011 7:40am
Anyone playing the imminent gold 1440 breakout?
I'm entering 4 lots on a stop order at 1439.5 and taking partial profits, hopefully, during the take off. See you later.
  • #4,173
  • Edited 8:09am Apr 5, 2011 7:57am | Edited 8:09am
Quoting GiorgioM
Anyone playing the imminent gold 1440 breakout?
I'm entering 4 lots on a stop order at 1439.5 and taking partial profits, hopefully, during the take off. See you later.

If you haven't already done so, I suggest you examine the chequered validity of breakout plays in the precious metals.....
How much is four lots in your terms? Is it $400 per dollar move? If so is that a lot or a little for your normal trading? It doesn't help us judge the certainty of your conviction unless we know.....

beeb
  • #4,174
  • Apr 5, 2011 8:08am Apr 5, 2011 8:08am
Quoting beeb
Suggest you examine the chequered validity of breakout plays in the precious metals.....
How much is four lots in your terms? Is it $400 per dollar move? If so is that a lot or a little for your normal trading? It doesn't help us judge the certainty of your conviction unless we know.....

beeb
I know gold breakouts didn't work well in the past but this time is different. 4 lots for me is 120$ tick and it's a lot for my normal trading but i believe in this trade and i'm confortable with that.
Anyway i'm going to take partial profits all the way up to 1447 for a 5000$ trade more or less, if we get there.
  • #4,175
  • Apr 5, 2011 8:10am Apr 5, 2011 8:10am
OK - wish you all the best...



beeb
  • #4,176
  • Apr 5, 2011 8:13am Apr 5, 2011 8:13am
TY, it's gonna be the hell of a ride if it happens!
  • #4,177
  • Apr 5, 2011 8:23am Apr 5, 2011 8:23am
Quoting GiorgioM
Anyone playing the imminent gold 1440 breakout?
I'm entering 4 lots on a stop order at 1439.5 and taking partial profits, hopefully, during the take off. See you later.
What about the 1430 breakout?

Just a joke. But the way things are going today, it's easier to see 1427 than 1439... Maybe the market is waiting for the news before it goes north, I don't know...
"The reason I was born and came into the world is to testify to the truth."
  • #4,178
  • Edited 8:37am Apr 5, 2011 8:27am | Edited 8:37am
Quoting harvest3r
What about the 1430 breakout?

Just a joke. But the way things are going today, it's easier to see 1427 than 1439... Maybe the market is waiting for the news before it goes north, I don't know...
I'm soft playing that breakout also , lot of stop losses in the 1429 zone, would love to run them.
  • #4,179
  • Apr 5, 2011 8:53am Apr 5, 2011 8:53am
I haven't traded at all this week. WTF is gold doing, just sitting there, no new money coming in to take it higher and silver is just getting outright dangerous.
  • #4,180
  • Apr 5, 2011 9:35am Apr 5, 2011 9:35am
Already long and waiting.
The dollar just fell across the board.

AUD bounced GBP up plenty, EUR bounce, CHF up then rejected down.


1440 should go soon.


Quoting GiorgioM
Anyone playing the imminent gold 1440 breakout?
I'm entering 4 lots on a stop order at 1439.5 and taking partial profits, hopefully, during the take off. See you later.
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