Silver and Gold trading

[maarnio]

Next NFP is 3rd of December. We might have still 10 years left for this bull market for gold so I might have to wait a while with my shorts.

I see your “Long” positions on Silver are mostly in profits as well as your “Long” positions on Gold.
But your 2 “Short” Gold positions opened since 5/Feb/’10 at 1045.00 & 1049.75 don’t look too promising.

When is next NFP data release due?

 

[maarnio]

Sold my gold and silver long positions. I am currently looking to buy gold and silver on Friday.

<a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">View my forex results</A>

 

[RahmanSL]

Aiyoh-yo!....maarnio, maarnio…..what have you done??? You have opened up even more losing positions!!! : (

Yes, I see you have closed all of your winning positions on Gold & Silver…bravo! : ) …I too got rid of all my Gold & Silver positions in profits as I am very uncertain of market directions at this point in time.

The whole of last week, I traded almost exclusively in EUR/USD on all 4 of my Live accounts as it was quite active, and I made some pretty good profits ….I still have around 9 open positions on the currencies pair at Friday’s market closing….in losses mostly, but not too bad. I see you too have some opened “Buy” positions on the pair too.

Hmmm, seems like just about every “expert analysis” believe the EUR/USD will go down further next week and, if they are correct, it will not be good for our “Buy” positions.

I am keeping a close watch on Gold & Silver to see whether your prediction is correct. But I will most definitely not passed up on “Short” positions if the two commodities do go up to new highs next month.

All the best in your trading, and I do hope you will be able to reduce your opened positions soon.

 

[maarnio]

We might get some news on Sunday to lift up the euro. I am expecting the euro to peak early next year and then start heading towards 1.2 and lower.

We might have to wait till next year for gold to reach $1500 and silver $30.

I am not concerned about my many open positions. It is mostly hedging.

Best to your trading!

Aiyoh-yo!....maarnio, maarnio…..what have you done??? You have opened up even more losing positions!!! : (

Yes, I see you have closed all of your winning positions on Gold & Silver…bravo! : ) …I too got rid of all my Gold & Silver positions in profits as I am very uncertain of market directions at this point in time.

The whole of last week, I traded almost exclusively in EUR/USD on all 4 of my Live accounts as it was quite active, and I made some pretty good profits ….I still have around 9 open positions on the currencies pair at Friday’s market closing….in losses mostly, but not too bad. I see you too have some opened “Buy” positions on the pair too.

Hmmm, seems like just about every “expert analysis” believe the EUR/USD will go down further next week and, if they are correct, it will not be good for our “Buy” positions.

I am keeping a close watch on Gold & Silver to see whether your prediction is correct. But I will most definitely not passed up on “Short” positions if the two commodities do go up to new highs next month.

All the best in your trading, and I do hope you will be able to reduce your opened positions soon.

 

[RahmanSL]

Yes maarnio, I see you are hedging your opened positions, plus your free margin should be able to see your account through the present losses.

But I really would like to see you closed and reduced some of them and than withdraw at least usd3k out of your account to really test your Broker.

Your comments on EUR/USD, Gold, & Silver are duly noted and I'll watch them like a hawk : )

Ok, take care out there and all the best.

 

[maarnio]

Terry Laundry has something to share about gold again at his site at Part B
<a href="http://www.ttheory.com/"target="_blank">T Theory</A>

There is also some news out of Ireland that could affect the Euro.

I am still optimistic about most of my open positions and will give them another 9 months to turn into profits. I will make my withdrawals little later.

Best to your trading!

Yes maarnio, I see you are hedging your opened positions, plus your free margin should be able to see your account through the present losses.

But I really would like to see you closed and reduced some of them and than withdraw at least usd3k out of your account to really test your Broker.

Your comments on EUR/USD, Gold, & Silver are duly noted and I'll watch them like a hawk : )

Ok, take care out there and all the best.

 

[maarnio]

<a href="http://position-sizing.blogspot.com/2010/12/currency-money-flow-ts.html"target="_blank">$$ Currency Money Flow Ts</A>

I have a long range Money Flow T in place for the Euro showing a top date in the second week of February (see blue lines).

I expect dollar weakness to continue into next week, and then reverse into dollar strength heading into the 20th.

Updated December 7
<a href="http://position-sizing.blogspot.com/2010/12/money-flow-t-status-reviewupdate.html"target="_blank">$$ Currency Money Flow Ts</A>

<a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">View my forex results</A>

 

[maarnio]

We might get some Euro weakness next week if Ireland decides to vote No for the bailout 15th of December.
<a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">View my forex results</A>

 

[RahmanSL]

Maarnio,

Hmmmm, seems like you are back to 35 opened trade positions and with only 3 positions in profits.

You really think EUR/USD will go down further next week? I have a few opened positions in losses for 2 weeks now. I manged to closed and take profits on some of the EUR/USD positions early on last week.

My Live account is still not showing too good results and I have switch my STD account with FxOpen to Micro account to get better control of minimum trade size. In micro account, I can opened up 1lot size and able to partial close losing positions in fractions (i.e 0.9 down to 0.1 lot) while in STD & ECN account, I cannot do that as the minimum size is 0.1 and if I make mistakes and the trade positions go into heavy losses, I am basically screwed as I cannot reduce my trade position but either have to take the complete loss or ride the losses out. But if the available margin is not good, than I am doubly screwed.

I am attaching one of my Demo account with Tadawul for you to see my latest trading style. I started that Demo account last 16/Nov/2010 as a guide to exactly what the market movement is doing before making the same or opposite trade in my Live account. I have found this system to be quite effective as my Live account is growing steadily.

Remember to make that long over due withdrawal as soon as you can; yah!

All the best!

 

[maarnio]

Very good trading. You beat me on that.

I think the Euro will bottom around the 20th of December. See my previous posts.

I have made some withdrawals from my other accounts and decided to let this one ride little longer.

Best to your trading!

Maarnio,

Hmmmm, seems like you are back to 35 opened trade positions and with only 3 positions in profits.

You really think EUR/USD will go down further next week? I have a few opened positions in losses for 2 weeks now. I manged to closed and take profits on some of the EUR/USD positions early on last week.

My Live account is still not showing too good results and I have switch my STD account with FxOpen to Micro account to get better control of minimum trade size. In micro account, I can opened up 1lot size and able to partial close losing positions in fractions (i.e 0.9 down to 0.1 lot) while in STD & ECN account, I cannot do that as the minimum size is 0.1 and if I make mistakes and the trade positions go into heavy losses, I am basically screwed as I cannot reduce my trade position but either have to take the complete loss or ride the losses out. But if the available margin is not good, than I am doubly screwed.

I am attaching one of my Demo account with Tadawul for you to see my latest trading style. I started that Demo account last 16/Nov/2010 as a guide to exactly what the market movement is doing before making the same or opposite trade in my Live account. I have found this system to be quite effective as my Live account is growing steadily.

Remember to make that long over due withdrawal as soon as you can; yah!

All the best!