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Silver and Gold trading

Discussion in 'Commercial Trade Journals' started by maarnio, Aug 29, 2010.

  1. maarnio

    maarnio 9pmest.com Representative

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  2. maarnio

    maarnio 9pmest.com Representative

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    We had a good week for silver. I have placed some buy stops above $20. Here are the records updated: <a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">Trade Results</A>
     
  3. maarnio

    maarnio 9pmest.com Representative

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    I still have my buy stops above $20 at silver. I will also be buying the pull backs as we get them. <a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">Trade Results</A>
     
  4. maarnio

    maarnio 9pmest.com Representative

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    We had a continuation of up move in gold and silver. Some buy stops triggered at silver above $20. Waiting for some pull backs to buy more.
     
  5. RahmanSL

    RahmanSL Major

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    maarnio, I have to say thank you for sharing your trading records as it gives me an idea of what & how other traders go about making trades.

    I noticed you funded your account on 2009.01.16 18:28, but only started trading (at least in your trade record) on 2010.03.02 15:59.
    Is there any particular reasons why you waited that long to start trading?

    I also noticed you started scalp trading and than later vary your trades from scalping to holding them over night and longer.

    The second page, which suffered some large losses, don't have the close positions date. Did you held these losing trades for long?

    I really am interested to know how traders think when they made a trade as it gives me a comparison to my own trading style.

    All the best!
     
  6. maarnio

    maarnio 9pmest.com Representative

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    Thank you for your reply Rahman. I started trading right away at January 2009. I have sorted the trades not by time but by symbol (currency pair).

    I used two different trading robots at start but abandoned both of them very early 2009.

    The large loss trades are still open trades. It is not uncommon for me to go long on a currency and use protective sell stop orders under. I also use trailing stop losses quite a bit.

    I currently do both long term (weeks or months) trades and short term (days or hours) trades.

    Please share your records as well Rahman!


     
  7. maarnio

    maarnio 9pmest.com Representative

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    It was a strong week for silver and gold. We have options expiring on Monday and Tuesday. If we get a pull back on Monday or Tuesday I will try to buy those. You can find the updated trading results: <a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">View my forex results</A>
     
  8. RahmanSL

    RahmanSL Major

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    maarnio,

    I don't think I'll use robot for my trading..nor will I rely on "expert signals" as often times, I have found them to be unreliable. I prefer to trade what I see on the chart and watch out for potential break-outs.
    Yes, I am relatively new in froex trading...just over 10 months mostly on Demo and only very recently Live (Std & ECN accounts) with 3 different brokers.

    I have wiped out 2 of my 3 Live accounts and is refunding them to get back on forex trading.
    I don't have any long term trading records to post here, plus I don't know how to post your charts the way you did.

    I like trading Gold, as it has given me huge profits, but also huge losses too which was the cause of one of my accounts wiped out (stopped out) within just mere 2 days.

    If Gold continues to go up, I will go in on "Sell" position and let it ride for a couple of weeks or even months waiting for it to go down...with plenty of free margin;of course...as I believe I can reap some rich rewards trading long term.

    What type of account are you using, and what deposit did you start off with??

    I think reaping 5-10% daily profits can be achieved on any account, but the problem I have is disciplining myself to stop trading when I have achieved the 5-6% target...and also impatience to jump in on a trade before studying real market movement trend on the charts....and also opening up too many positions thinking I can get faster profits that way but then when the market changes, my account started taking heavy losses and I don't cut my losses and get out.
    Yes, I know my mistakes and weaknesses, now I have to discipline myself so as not to repeat these same mistakes again.

    I shall be checking up on your trading records as you post them, andonce again, thanks for sharing them.

    All the best and be careful out there; yah!
     
  9. maarnio

    maarnio 9pmest.com Representative

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    I have stopped using robots or signals as well. This is my first account that I have not wiped out. I started trading forex at 2008. This account is real money account. You can see all my deposits at the top of the record.

    I have had best results trading gold and silver. I have been mostly trading them on long side. The strong fundamentals in gold and silver have helped a lot. If you want to short gold look for the options expiration dates and NFP releases. For the last month both gold and silver have been trading in sync with the markets.

    5-10% profit per day is very good. My goal currently is to make 10% profit per month. When I started trading forex at 2008 as a newbie, I was targeting 50% profits per day. I did make it on few days but eventually managed to wipe out the accounts.

    If you have a small account only trade one pair at a time.

    You can download your trading records at MT4 in Account History section. Press the right mouse button and then choose "Save as a Detailed Report".

    Good luck!

     
  10. RahmanSL

    RahmanSL Major

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    You target 10% profits per month? Doesn't sound too difficult : ), but 50% per day is just being overtly ambitious and extremely risky. But that China Teacher did managed to turn his USD300 deposit into USD247,210 in just under a month, which is 61,595% return on his investment : ). So, maybe greed is good at times;yah?

    But what would be a good amount of money deposit to start with, and with what type of account (Std or ECN)?

    I am asking this as I would like to emulate your trading strategy as you obviously am much2 more experienced than I am.

    Thank you for that advice on how to create my trading report.

    All the best!
     

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