Silver in 2011 - Commodities Futures Trading | futures io social day trading
futures io futures trading


Silver in 2011
Updated: Views / Replies:19,102 / 184
Created: by aquarian1 Attachments:69

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 69  
 
Thread Tools Search this Thread
 

Silver in 2011

  #41 (permalink)
Elite Member
Rockland county , New York
 
Futures Experience: Intermediate
Platform: NT 7
Favorite Futures: CL, 6E, SI, ZC
 
whatnext's Avatar
 
Posts: 235 since Mar 2011
Thanks: 340 given, 79 received

Boy did that ascending triangle move. Second big inter-day opportunity missed. I have a long way to go with short term confidence.

Overall a good day. The trade loss was small and for a good reason - based on previous support. More importantly very happy with the SL at 48.40 for longer contracts - just below the double bottom of the symmetrical triangle at that time and it plunged from there. "The most important trades are the ones you are in" - don't recall the author but good advice.

I'm embarrassed to say I blew through your valued advice today aquarian - and then even asked you to explain it again - a folly I don't want to repeat. Good luck all.

Reply With Quote
The following user says Thank You to whatnext for this post:
 
  #42 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
aquarian1's Avatar
 
Posts: 3,238 since Dec 2010
Thanks: 1,165 given, 1,754 received
Forum Reputation: Legendary


whatnext View Post
Didn't understand your levels, but see now - I rushed through them at first frankly going from trading computer to desktop.. Thanks for your contributions and the thread - a real asset.
Looks like a ascending triangle is forming from 10:15 to now (11:20). I'm freaked to trade it but it might be good timing with the heavy pull back.

Hi Whatnext,

Sorry about the delays in the posting but I was in a bit of a rush as well, making that graph. I should explain that I look at the charts in an if..then manner. So at each level on the way down (if you had of been thinking of buying a pullback that is) it is IF it holds at x and bounces then buy with stop of y.

As I am not trading silver, I don't have a "feel" for it. That is I am not familiar with the size of the stop-running or the sequencing of it days of pullback and %.

So using barchart.com numbers the low was 33.565 (15 March) and the high was 49.82 for 16.255 difference.
today's 45.645 low would be -4.175 on a rise of 16.255 giving a 25.684% a pullback. So this is 25% roughly.

(exactly 25% would be 4.06375 ==> 45.756 vs 45.645)



P.S. I only have garbage IB for a silver data feed it gives me numbers from a thinly traded Liffe contract - for real time charts e.g low of 9;25CT is 45.691 on IB and 45.645 on barcharts

Keep your mind in the future, in the now.
Reply With Quote
The following user says Thank You to aquarian1 for this post:
 
  #43 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
aquarian1's Avatar
 
Posts: 3,238 since Dec 2010
Thanks: 1,165 given, 1,754 received
Forum Reputation: Legendary



whatnext View Post
.. Overall a good day. The trade loss was small and for a good reason - based on previous support.
-good stuff!

I'm embarrassed to say I blew through your valued advice today aquarian - and then even asked you to explain it again - a folly I don't want to repeat.


- thanks for the kind words.
no worries -- you are the one making the trades, so it is what you see that counts!
see cavets above about "I don't have a feel for silver".

Keep your mind in the future, in the now.
Reply With Quote
The following user says Thank You to aquarian1 for this post:
 
  #44 (permalink)
Elite Member
Rockland county , New York
 
Futures Experience: Intermediate
Platform: NT 7
Favorite Futures: CL, 6E, SI, ZC
 
whatnext's Avatar
 
Posts: 235 since Mar 2011
Thanks: 340 given, 79 received

In the webinar on divergence, that Mr. Felton was good enough to give, he stressed the importance of "knowing the market you trade in". I was the dumbass who asked him if he used limit orders for scalping and how many contracts you can buy in the euro with out screwing it up. Can't claim to have the blessed feel for any market.

I have a good eye for opportunities, conservative money management and can read basic chart patterns. That's it. Even with tight stops a loss in silver is a big loss.

When not paralyzed with angst (as demonstrated with the ascending triangle) I make trades when silver is going up so not to get stopped. Downloaded every other indicator on this site and haven't used any of them. If you can trade any other market I don't understand how you couldn't have done well w/ silver so far this year.

Was beating myself up for not reacting better to market action today or moving to break even plus 1 with my loser - but got rid of the multi-day contracts at the right time - so it was a good day.

Reply With Quote
 
  #45 (permalink)
Elite Member
Williamsburg, VA
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Stocks
 
worldwary's Avatar
 
Posts: 523 since Mar 2010
Thanks: 259 given, 788 received

I tried a paper trade on SI today for the first time, to get a feel for it. My goodness, I've never seen anything this highly leveraged that moves this fast.

Hats off to anyone who feels comfortable trading this with real money.

Reply With Quote
 
  #46 (permalink)
Elite Member
Rockland county , New York
 
Futures Experience: Intermediate
Platform: NT 7
Favorite Futures: CL, 6E, SI, ZC
 
whatnext's Avatar
 
Posts: 235 since Mar 2011
Thanks: 340 given, 79 received

You picked a hell of a day

Reply With Quote
 
  #47 (permalink)
Elite Member
Williamsburg, VA
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Stocks
 
worldwary's Avatar
 
Posts: 523 since Mar 2010
Thanks: 259 given, 788 received

I don't know silver from a hole in the wall, but just looking at the charts, it's looking very blow-off-top-ish.

Reply With Quote
 
  #48 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
aquarian1's Avatar
 
Posts: 3,238 since Dec 2010
Thanks: 1,165 given, 1,754 received
Forum Reputation: Legendary


whatnext View Post
....
Was beating myself up for not reacting better to market action today or moving to break even plus 1 with my loser - but got rid of the multi-day contracts at the right time - so it was a good day.

Great work!
Your making the good decisions on the multi-day contracts and taking care of the big dollars!

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Keep your mind in the future, in the now.
Reply With Quote
The following user says Thank You to aquarian1 for this post:
 
  #49 (permalink)
Elite Member
United Kingdom
 
Futures Experience: Intermediate
Platform: Multicharts
Favorite Futures: Dow
 
PositiveDeviant's Avatar
 
Posts: 587 since Nov 2010
Thanks: 257 given, 253 received

Hi fx129, what's your take on the silver market right now?

"The primary thing required to obtain what you want from life, is simply the will to pursue it, and the faith to believe it is possible." - Author Unknown

"The ability to maintain discipline and stick to the rules is the hallmark of the experienced successful trader" - Curtis Faith
Reply With Quote
The following user says Thank You to PositiveDeviant for this post:
 
  #50 (permalink)
Elite Member
Gilford, ON, Canada
 
Futures Experience: Beginner
Platform: NT
Favorite Futures: NQ, ES
 
Posts: 70 since Apr 2011
Thanks: 56 given, 33 received

Comment on Silver market today


Hi Guys, throwing in my 2 cents on the silver price, as i follow it like a hawk. Just a couple of points to add-in:

- There has been a lot of talk over the weekend that silver is taking on a life of its own and leading the way. HOWEVER, i've noticed in the last week since gold broke thru 1,500 that silver is following gold on an hr-by-hr basis in lock-step. There is no decoupling going on here whatsoever and in my opinion gold is leading. So if you want to know where silver is going, IMHO focus on gold price, period, at least until silver gets thru $50
- The prices for both metals are trading substantially higher in Asian markets over the past few days, as if some institutional manipulation is influencing gold. For example gold closed at about $1,535 USD in India today, and silver about $49

-Over on Eric Kings site, James Turk was interviewed again today, and had this to say:

"The important point Eric is that silver is still in backwardation. I mentioned to you previously in the KWN blog piece on April 1st of this year that if silver remained in backwardation when we neared the $50 area it would be a truly extraordinary event. Here we are with silver touching $49 in Asian trading this morning, yet it remains in a 63 cent backwardation from spot to December 2015.

I canít stress enough how significant that event is. Over the past three months the price of silver has nearly doubled, yet the backwardation has not disappeared. Markets are not designed to work that way, the higher price is supposed to entice people to sell their physical and hold dollars instead. I think the market is quite clearly sending the signal that people would rather hold silver instead of paper money.


The bottom line is that as long as silver remains in backwardation, price declines will be short-lived, itís also telling us that silver has not yet reached a top on this move.Ē

Reply With Quote
The following user says Thank You to Donald for this post:

Reply



futures io > > > > Silver in 2011

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Drag Race! 2012 Nissan GT-R vs 2011 Chevy Corvette Z06 vs 2011 Shelby GT500 Big Mike Off-Topic 10 December 25th, 2011 06:10 PM
Silver and the Royal connection PositiveDeviant Jokes 1 May 8th, 2011 03:21 PM
Investing in silver tellytub Commodities Futures Trading 27 April 27th, 2011 04:13 AM
Gold to Silver Ratio martifc Commodities Futures Trading 10 January 25th, 2011 10:15 AM


All times are GMT -4. The time now is 09:58 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.14 seconds with 20 queries on phoenix via your IP 54.91.171.137