Best Thread Silver!

It was fairly obvious that when silver reached usd 50 that there would be profit taking and that
the changes re margins etc would lead to a short term sell off.
As a day trader who only looks for 20 pips a day trhis has been wonderful.
I use the following settings on etx advanced charts
pivots
5 ,19 and 62 EMA
macd 12 26 7
stochastic
bollinger bands

I only open a position if 2/3 are in the buy/sell area and have a standard 22 stoploss.
I keep daily records but cannot improve on 73% success.
I stop if i lose 20 pips or win 20 pips in a day.
Any comments appreciated
regards Michael
 
It is in my very humble opinion that silver will drop to around $12!

I am looking to fade the rally as it makes a lower high on the daily / 4H charts. The plan is to add to winning positions, leverage up 1:2 only and hold on for almighty god.

Waiting time could be up to 2-3 years, wish me luck!

http://news.bbc.co.uk/2/hi/business/8558257.stm
 
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jiggly said:
It is in my very humble opinion that silver will drop to around $12!

I am looking to fade the rally as it makes a lower high on the daily / 4H charts. The plan is to add to winning positions, leverage up 1:2 only and hold on for almighty god.

Waiting time could be up to 2-3 years, wish me luck!

http://news.bbc.co.uk/2/hi/business/8558257.stm
Click to expand...

I have no opinion as to where it will ultimately go.
If this week closes down (it will) my overall bias will change to short. However, first trade is likely to be long, fading this down move because shorts are now holding significant profits and it's their profits I want, target roughly 50% or so of it (not got a chart in front of me to say exactly where), then back down until some upwards momentum comes in.
 
nunrgguy said:
I have no opinion as to where it will ultimately go.
If this week closes down (it will) my overall bias will change to short. However, first trade is likely to be long, fading this down move because shorts are now holding significant profits and it's their profits I want, target roughly 50% or so of it (not got a chart in front of me to say exactly where), then back down until some upwards momentum comes in.
Click to expand...

excellent, look for me to sell to when you want out! ;)
 
jiggly said:
excellent, look for me to sell to when you want out! ;)
Click to expand...

I'll probably be out before you want in. Sell on the way up m8:LOL:

Having said that if I don't see anything to warrant the long I won't take it. Probably happened today hasn't it as I'm away from the charts??:LOL:
 
nunrgguy said:
I'll probably be out before you want in. Sell on the way up m8:LOL:

Having said that if I don't see anything to warrant the long I won't take it. Probably happened today hasn't it as I'm away from the charts??:LOL:
Click to expand...

Its starting to look like it will bounce now on the 4hr chart and a rally could be getting underway.

Some specialist, expert, fund manager, asset and wealth allocation professional was talking on bloomberg eariler today.

his position is short, short term and long, long term when it falls to about 60% of of its high price.

good luck to them, thats good enough advertising for me.
 
Do you think silver will ever surpass the $60s and $70s/oz in a couple of years? Due to possible US inflation and Chinese demand? regardless of whether or not it's in a bubble right now..

curious, as I was an idiot and paid too much for my silver, just before this dip.
 
Vint said:
Do you think silver will ever surpass the $60s and $70s/oz in a couple of years? Due to possible US inflation and Chinese demand? regardless of whether or not it's in a bubble right now..

curious, as I was an idiot and paid too much for my silver, just before this dip.
Click to expand...

The supply of silver has increased to meet this speculative demand. Demand for silver for fabrications has not been increasing, it has actually held steady.

If you take the speculative element out of it, this piece of metal is sover priced.

supply is greater than the demand for the time being, I think this is going to go to $12 in that time frame before we see those numbers.

who knows?
 

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----------------------------------------------------------------------------------------------------------------
Disaggregated Commitments of Traders-All Futures Combined Positions as of May 3, 2011
: Reportable Positions :
:------------------------------------------------------------------------------------------------------------- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
----------------------------------------------------------------------------------------------------------------
SILVER - COMMODITY EXCHANGE INC. (CONTRACTS OF 5,000 TROY OUNCES) :
CFTC Code #084691 Open Interest is 131,907 :
: Positions :
: 10,393 52,219 14,681 15,315 5,669 28,466 5,069 9,691 14,285 14,328 14,468 :
: :
: Changes from: April 26, 2011 :
: 1,092 575 -4,603 -4,160 -1,509 -2,072 -2,226 -3,407 1,745 3,540 -790 :
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 7.9 39.6 11.1 11.6 4.3 21.6 3.8 7.3 10.8 10.9 11.0 :
: :
: Number of Traders in Each Category Total Traders: 192 :
: 15 22 11 13 18 42 15 13 44 33 39 :
 
Vint said:
Do you think silver will ever surpass the $60s and $70s/oz in a couple of years? Due to possible US inflation and Chinese demand? regardless of whether or not it's in a bubble right now..

curious, as I was an idiot and paid too much for my silver, just before this dip.
Click to expand...

everything is possible even triple digits ...
 
Well, here's the long
silverh4.gif


silverm15.gif


But I'm just a mug punter who trades off graphs so what do I know right?
Just noticed, top graph should have said "'no it's not because it's a 'pin'" looks like I ran out of graph paper. First target around 37.45.

Did I take it? Of course NOT! Stupid O clock on a Friday (look at the time, are YOU going to open a position on Silver then for what will likely be a short-ish term trade..thought not) when I wasn't trading anyway. This has been my story for the last month. Sit all week waiting for a move, go away to eat, sleep, live...move happens, come back to trade station, sit and wait for a week...repeat.



FISHTlTS!
 
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If by some miracle silver trades back down to $20 in the next year or so that will probably be the best buying opportunity of our lifetimes. The risk reward at those levels will be excellent.
 
Sh1t the bed!!!!!!!! Was having a play around before on a test account with a few hundred in and decided to have a little silver long. Was too lazy/hungover to work out how much I was risking and I was only trading 0.1 lots thinking it would only move like a few quid per tick but it was moving like £10 at a time!!! Before I knew it I was like £200 in about 2 minutes!!! Anyway, I didn't panic and decided to treat the trade like a normal sized one and scratched for £10 in the end.... Very lucky boy and yet I'm still frustrated as it went up to plus £50. Hindsight is a b1tch!!!!
 
30 min chart is showing a good buying trend, has the bottom been tipped?

What is everyone using to post the graphs?
 
I've held silver for a good few years now, and trade it. But, now I believe we really are in a bubble.

The price has dropped, and from what I can gather their is a frenzy of buying by the public for no other reason than 'it has gone down so it must be a bargain'.

I wish the big boys would crash this sucker. Its becoming ridiculous.
 
dmt257 said:
I've held silver for a good few years now, and trade it. But, now I believe we really are in a bubble.

The price has dropped, and from what I can gather their is a frenzy of buying by the public for no other reason than 'it has gone down so it must be a bargain'.

I wish the big boys would crash this sucker. Its becoming ridiculous.
Click to expand...

OK lets suppose for a min that this hypothesis is true.
The general public being what they are will take more than a week to do all their buying.
 
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