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lse:lloy

#1342

Hah
I am tempted to add more to my 1400 silver position but just not yet -
Few things make no sense
Risk is getting lower
Money Managers arent really behind that much metals yet

beginning to think Bitcoin + Altcoin mafia might be behind this trading surge


#1343

Your not alone, I opened gold shorts at 1435, 1440, 1445 as well as additional silver short at 1630.

Was concerned for a while. But when iran offered peace offering I calmed a little.

Closed golds at 1425, 1425 & 1427. Closed additional silver at 1620.

Back to original silver shorts at 1675 & 1695 plus gold short & 1430.
Gold curre6in profit and silver has a long way to go!


#1344

What is your 1400 silver position and which way were you going to add?


#1345

Long from 1400
80% bought physical silver 20% SB

I want to add Long but not just yet, something doesnt make sense
It might just go touch the sky and I might never get a chance
but until USD peaks first and metals consolidate - I am not getting in.

Silver could be back to 1500 in 2 weeks


#1346

Wow Ithought you meant that, this is some trade outside my understandings. I normally aim for 5, 10 or possibly 20 points gain on silver but 200+ is outstanding knowledge. Well done BA.

I remember you saying a while back “pick the right entry point” and this was what you had meant. I have tried for these bigger swings but in the end I have found scalping suits my style and knowledge better. Love to see someone correctly picking such good trades though, hats tipped to you:)


#1347

ps, on the sb part, does the interest not bother you prior to take off?


#1348

@swamp_rat I spent months before I got in to Commodities - you might think it was easy - I would say the conclusion was easy but lengthy process. Sure I can find some silver trade list


#1349

commodities the interest is low, well no where as high as you were paying on VIX


#1350

odd to think now
but Soi ran a Silver and Gold thread here
before we moved to this thread
at that time we were Long Gold around 1190
and its 1400+ now
I went as far as 1350 that was my limit but other interests always come up, you cant play them all


#1351

Closed gold at 1426.2, risk lowered for weekend. Just 2 silver open.


#1352

Gold price Decrease due to Strengthening of USD -6.20
Gold price Change due to Predominant Sellers -13.70
Gold Price: Total Change -19.90

Iran issue up, oil up, USD up Gold down
Why down now when its been up on less scary Iran news


#1353

Didn’t a hedge fund struggle recently and blame it on algo’s. I searched but cannot find the article.


#1354

Yes, that was some interest I was paying on vix dfb, next time i see a favourable entry point, I’ll go with the one or two month expiry and hope for an event or calming of event.
I have recently been surprised (I’m still learning) by the fact my shorts on gold and silver are paying me interest.
If gold ever hits 1800, I could short nice n heavy and be paid until it drops again. Seems an u fair advantage, am I missing something?


#1355

Sorry BA for the barrage of posts, but to help me understand the terminology, when you say until the usd peaks, what do you pitch it against?

If it is the GBP, would a peaking USD mean less USD to a GBP as in a strengthening USD?

Surely you need the USD to fall so you buy more USD to the GBP which in turn makes your metals cheaper?


#1356

If you forget shorting for the purpose of this explanation it would help.

Long position is essentially buy to sell
You buy something knowing that price will go up later, once price shoots up you sell it.
You buy LLOY at 50p and sell at 60p when it goes up to 60p
You obviously expect someone will buy at 60p from you
There will be a demand and you will supply it.

Commodities (silver, gold, oil etc) also have a demand
But
Affordability is also a huge factor for commodities over and above supply demand.
Because commodities are priced against US Dollar
So
If USD goes up, price of commodities go down by the factor.
If there is no demand in the market then USD hike will reduce commodities price
If the demand is less than USD factor, then over price will be down
If the demand is higher than USD factor then SP will increase.

Anything which affects USD (there are many) will affect commodity price.

If USD is likely to get stronger than commodities will always go down except in volatile war etc.

With regards to GBP - because we just follow the price action of commodities through SB, we dont see the currency issues. If you were to buy actual Physical commodity like gold or silver, you will pay in GBP (only because its your currency but the price of gold will be in USD and you will pay the equivalent GBP)
If GBP is stronger than USD then yes you will get more for your money also gold will be cheaper but that’s just you. Anyone in China will have a different experience depending on their Forex rate.

Essentially its still just buying and selling - that’s LONG position
If you think actual price will go up and you can sell later, go long
SB is just a way of selling -
you can buy and sell actual gold too

If you dont know the commodity or share or anything dont buy it with a view to sell
Daily intra day trading is very very difficult
what @soi does is very hard game, mentally and physically

If you trade daily that makes you a daily buyer and seller
if you dont think you can sell with profit end of the day, dont buy
whatever your time frame is you have to gauge all aspects in that time frame.

sorry did try my best to keep it succinct. hope this helps
dont open too many positions in SB


#1357

gold short 1426.35

soi


#1358

1424.28 closed

soi


#1359

silver short 1630.1


#1360

1633 short silver

soi


#1361

gold short 1426.82