white-metal-man said:
Last time i saw a drop of above $1.60 was the 29/2/12
Silver Smackdown Tonight Chart FYI
- Thread starter VRS
- Start date
Last time i saw a drop of above $1.60 was the 29/2/12
Ernster said:
Dont know about you but id love to be short at 1% leverage in that drop
hihosilver
New Member
VRS said:Yes, I use eToro - Web Trader & Open Book (which is a bit like Facebook - it allows you to follow/copy the best traders on a month, 3 mth & 6 mth view - pretty radical idea).
You can get a feel of the platform with a practice account where you have a virtual $10k to play with, to familiarise, which is what I did at first - but now I can either copy trades which I like which show up as they happen on my notifications stream, place my own, or if I see prices are moving/about to move in any particular direction you can jump onto the momentum, which is what I did last night.
I missed riding last night's POS fall down... so I did the obvious thing and rode it back up. I'm going to keep these open because I think the announcement of QE if it happens later today will boost the POS upwards. (That said, you can sometimes get converse logic happening where eg: because QE3 is announced, equity markets rise, and the US$ follows suit, if only temporarily - like what's been happening in the last month with the Euro, on its relentless rise - despite the massive increase in liquidity - that means a currency becomes worth less relatively doesn't it? Well there y'go... which is another reason why you need to be disciplined.)
I should've opened out longs on silver when the price was $27 - that'd have meant a 700 pip rise at 50c/$1/$2/$5/$10 or whatever per pip... (You could just as easily go long on oil say if Iran kicks off and threatens the Straits of Hormuz... or if you see another opportunity)
I opened 2 longs, one at $32.68 (@ normal leverage) when the POS had just bottomed, the other @ $32.93 (at higher leverage) as POS confirmed to me that it was moving back up again, on a rebound. You just have to have an idea & feel for the momentum of these events and give it a punt. You can also leverage the trades, so 1x, 2x, 3x, 4x but obviously your risk level then becomes an issue if prices move quickly, and can move against you.
If you stick to the low or medium leverage trades and only punt a small % of your total pot, stick to a stop loss, be objective & disciplined you can trade any of the major currency pairs or gold, silver, oil and any major index whether it's rising or falling - but it's not for everyone - you have to spend time watching the market if you do your own trades. The Open Book experience is totally different though - it's very social & operates a lot like FB - really cool concept.
If anyone wants to sign-up email me and I'll split the $100 bonus I'd get as introducer with you, plus you also get a 10% bonus to your equity when you open an account.
[youtube]http://www.youtube.com/watch?v=6wu1w5gYgT8[/youtube]
[youtube]http://www.youtube.com/watch?v=hb-tRQ1QZmo[/youtube]
Anyhow, this is what happened after el smackeroo:
http://forums.silverstackers.com/uploads/2731_screen_shot_2012-09-13_at_73553_am.jpg
This is the progress so far this morning - it's not a huge amount, but it's worth having - if I do that six or seven times a week I'd be happy, as a sideline.
http://forums.silverstackers.com/uploads/2731_screen_shot_2012-09-13_at_81959_am.png
Cheers (& DYOR!),
VRS
Seems interesting :/ and I'll check this out as I always seek new avenues of financial knowledge however, (and I could be a very conservative in my view here) but a quick 2min search shows me that this business was set up in Cyprus (1st red flag :/ ) and as a coincidence while I had just looked at thier website this evening I was breifly side tracked for a TV program on one of the current affairs (don't know which one) highlighting a online gambling site which took a lot of good folks savings by intelligent scamming. According to the suckers they all were earning on paper but when they went to pull the dollars out the wizard behind the curtain vanished
which set off my (2nd red flag :/ ) about this online business? :/ Now, I'm not saying you are wrong here and this could be a great way to educate guys like me about trading on the Forex but I would recommend tread softly as I would hate to have a fellow SS conned 
Would you believe that after all your posts VRS especially about JPM I'm sure you of all people could not be hoodwinked
remember these are just my thoughts and I maybe totally wrong here.
Some very good points made hihosilver. I am not one for bashing platforms..... but, as VRS says (DYOR) as there is some suss ones out there.
SilverTouch said:
Very nice silver broke through the 50% level that i had listed before and also the massive resistance point on FXUSJY has been broken
hihosilver said:Seems interesting :/ and I'll check this out as I always seek new avenues of financial knowledge however, (and I could be a very conservative in my view here) but a quick 2min search shows me that this business was set up in Cyprus (1st red flag :/ ) and as a coincidence while I had just looked at thier website this evening I was breifly side tracked for a TV program on one of the current affairs (don't know which one) highlighting a online gambling site which took a lot of good folks savings by intelligent scamming. According to the suckers they all were earning on paper but when they went to pull the dollars out the wizard behind the curtain vanished
Would you believe that after all your posts VRS especially about JPM I'm sure you of all people could not be hoodwinked
The guy who set up eToro is Greek Cypriot - I don't think there's any law against that (!) - It's where his business started, and is the main office for a company that has offices around the World mate.
Also eToro is a retail portal - all trades actually go thru IC Markets for Australia (regulated by ASIC here), Retail FX in Europe (regulated by Financial Services Authority in UK, Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin) in Germany, Commissione Nazionale per le Societa e la Borsa (CONSOB) in Italy, Comision Nacional del Mercado de Valores (CNMV) in Spain, Banque de France for FR, Finansinspektionen in Sweden, Capital Markets Commisions (CMC) in Greece, CSSF in Luxembourg, AFM in Netherlands, CMVM in Portugal, CBFA in Belgium etc) and FX Solutions for US & Canada (regulated by our very own precious metals-friendly bunch at CFTC!)
The server side has had issues previously when closing trades - but I have to say that when I've taken a screenshot of any trade that hasn't been settled immediately eToro have compensated me fully within 7 days for any loss I might've incurred plus for the inconvenience. I haven't had any tech issues since.
Similarly I've never had any issues with being paid-out when I require. Easiest way for me is to deposit funds on my Mastercard, so anything I want to take out goes back on to the same card immediately rather than wait up to 3-5 working days for a bank transfer.
I think the reason this platform has come in for some flak is that it's very innovative - no other company at retail level has anything like it at all - and the major fx houses and banks feel threatened by the 'Zuckerberg'/'empower the masses'/Social Networking angle that eToro Open Book/Web Trader has - it's a brilliant idea imho, and I can't think why the hell nobody thought of it sooner - being able to follow & copy the most successful traders, to interact & converse with fellow traders, leave comments on eachothers walls etc - which is why I say it's like Facebook in its approach/presentation. However, when you open up Web Trader, the trading engine app, it gives you a slick window on your current trades, history, charts etc across all the major currency pairs, plus all the major indices and oil, gold & silver.
As you say HH always tread carefully & DYOR - but I was happy to wake up this morning having set up my trades yesterday - to find I'd made 76% on the rising price of silver overnight, thanks to Benny Boy. The idea with forex is to have more winning trades than losing ones - and to do that you need to be able to remain detached, only trade small amounts of your total equity (but trade often) and be disciplined enough to avoid the usual pitfalls - so if you have an addictive personality you need to approach (or avoid) FX trading accordingly.
As I've said to everyone else who's asked - best thing is to observe observe observe - spend a good long time doing that, set up a practice account, watch the news (economic calendar) and get a feel for forex. Price movements can be fast, so you also need to set stop losses, have good money management skills, never risk more than say 2-3% of total equity on any one trade and educate yourself before risking anything. That said, I do know some people whose risk profile is permanently set to high - so sometimes they make a big score, but they also risk their capital way more than they should & lose big when price direction (and volume) go the other way.
One mate who's a dentist in UK has his forex screens running throughout the day whilst he's working - he uses a program called Metadata I think - it's just a way of keeping his missus in new handbags - and he's Chinese - so he takes a cautious slowly-slowly approach, maybe doing 3-5 trades a day for 50 quid each - and he can hold the positions open for months rather than a few minutes or hours.
Cheers,
x
hihosilver
New Member
VRS said:hihosilver said:Seems interesting :/ and I'll check this out as I always seek new avenues of financial knowledge however, (and I could be a very conservative in my view here) but a quick 2min search shows me that this business was set up in Cyprus (1st red flag :/ ) and as a coincidence while I had just looked at thier website this evening I was breifly side tracked for a TV program on one of the current affairs (don't know which one) highlighting a online gambling site which took a lot of good folks savings by intelligent scamming. According to the suckers they all were earning on paper but when they went to pull the dollars out the wizard behind the curtain vanished
Would you believe that after all your posts VRS especially about JPM I'm sure you of all people could not be hoodwinked
The guy who set up eToro is Greek Cypriot - I don't think there's any law against that (!) - It's where his business started, and is the main office for a company that has offices around the World mate.
Also eToro is a retail portal - all trades actually go thru IC Markets for Australia (regulated by ASIC here), Retail FX in Europe (regulated by Financial Services Authority in UK, Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin) in Germany, Commissione Nazionale per le Societa e la Borsa (CONSOB) in Italy, Comision Nacional del Mercado de Valores (CNMV) in Spain, Banque de France for FR, Finansinspektionen in Sweden, Capital Markets Commisions (CMC) in Greece, CSSF in Luxembourg, AFM in Netherlands, CMVM in Portugal, CBFA in Belgium etc) and FX Solutions for US & Canada (regulated by our very own precious metals-friendly bunch at CFTC!)
The server side has had issues previously when closing trades - but I have to say that when I've taken a screenshot of any trade that hasn't been settled immediately eToro have compensated me fully within 7 days for any loss I might've incurred plus for the inconvenience. I haven't had any tech issues since.
Similarly I've never had any issues with being paid-out when I require. Easiest way for me is to deposit funds on my Mastercard, so anything I want to take out goes back on to the same card immediately rather than wait up to 3-5 working days for a bank transfer.
I think the reason this platform has come in for some flak is that it's very innovative - no other company at retail level has anything like it at all - and the major fx houses and banks feel threatened by the 'Zuckerberg'/'empower the masses'/Social Networking angle that eToro Open Book/Web Trader has - it's a brilliant idea imho, and I can't think why the hell nobody thought of it sooner - being able to follow & copy the most successful traders, to interact & converse with fellow traders, leave comments on eachothers walls etc - which is why I say it's like Facebook in its approach/presentation. However, when you open up Web Trader, the trading engine app, it gives you a slick window on your current trades, history, charts etc across all the major currency pairs, plus all the major indices and oil, gold & silver.
As you say HH always tread carefully & DYOR - but I was happy to wake up this morning having set up my trades yesterday - to find I'd made 76% on the rising price of silver overnight, thanks to Benny Boy. The idea with forex is to have more winning trades than losing ones - and to do that you need to be able to remain detached, only trade small amounts of your total equity (but trade often) and be disciplined enough to avoid the usual pitfalls - so if you have an addictive personality you need to approach (or avoid) FX trading accordingly.
As I've said to everyone else who's asked - best thing is to observe observe observe - spend a good long time doing that, set up a practice account, watch the news (economic calendar) and get a feel for forex. Price movements can be fast, so you also need to set stop losses, have good money management skills, never risk more than say 2-3% of total equity on any one trade and educate yourself before risking anything. That said, I do know some people whose risk profile is permanently set to high - so sometimes they make a big score, but they also risk their capital way more than they should & lose big when price direction (and volume) go the other way.
One mate who's a dentist in UK has his forex screens running throughout the day whilst he's working - he uses a program called Metadata I think - it's just a way of keeping his missus in new handbags - and he's Chinese - so he takes a cautious slowly-slowly approach, maybe doing 3-5 trades a day for 50 quid each - and he can hold the positions open for months rather than a few minutes or hours.
Cheers,
point taken
but will look at this closer this weekend after a few stubbies eToro Team
New Member
Hi guys,
Just wanted to chime into the discussion. Hihosilver, you are right to be worried, there are many brokers out there who take advantage of traders. However, eToro is a licensed and registered introducing broker for several brokers who are licensed all over the Europe (Germany, France, the UK etc.), as well as the US and Australia. I suggest you take a look at the license and regulation page on our website. In addition, none of our brokers have dealing desks, the trades are automatically executed in the markets and we make our money from spreads only, meaning that it is more profitable to us when our traders succeed because then they can open more trades.
In general, I advise anyone interested in eToro to register for a free demo account and to have a look around the platform and OpenBook. You can even use it to chat to some of our users to see what they think.
Happy trading everyone!
Andy, eToro Team
Just wanted to chime into the discussion. Hihosilver, you are right to be worried, there are many brokers out there who take advantage of traders. However, eToro is a licensed and registered introducing broker for several brokers who are licensed all over the Europe (Germany, France, the UK etc.), as well as the US and Australia. I suggest you take a look at the license and regulation page on our website. In addition, none of our brokers have dealing desks, the trades are automatically executed in the markets and we make our money from spreads only, meaning that it is more profitable to us when our traders succeed because then they can open more trades.
In general, I advise anyone interested in eToro to register for a free demo account and to have a look around the platform and OpenBook. You can even use it to chat to some of our users to see what they think.
Happy trading everyone!
Andy, eToro Team
hihosilver
New Member
hihosilver said:VRS said:Yes, I use eToro - Web Trader & Open Book (which is a bit like Facebook - it allows you to follow/copy the best traders on a month, 3 mth & 6 mth view - pretty radical idea).
You can get a feel of the platform with a practice account where you have a virtual $10k to play with, to familiarise, which is what I did at first - but now I can either copy trades which I like which show up as they happen on my notifications stream, place my own, or if I see prices are moving/about to move in any particular direction you can jump onto the momentum, which is what I did last night.
I missed riding last night's POS fall down... so I did the obvious thing and rode it back up. I'm going to keep these open because I think the announcement of QE if it happens later today will boost the POS upwards. (That said, you can sometimes get converse logic happening where eg: because QE3 is announced, equity markets rise, and the US$ follows suit, if only temporarily - like what's been happening in the last month with the Euro, on its relentless rise - despite the massive increase in liquidity - that means a currency becomes worth less relatively doesn't it? Well there y'go... which is another reason why you need to be disciplined.)
I should've opened out longs on silver when the price was $27 - that'd have meant a 700 pip rise at 50c/$1/$2/$5/$10 or whatever per pip... (You could just as easily go long on oil say if Iran kicks off and threatens the Straits of Hormuz... or if you see another opportunity)
I opened 2 longs, one at $32.68 (@ normal leverage) when the POS had just bottomed, the other @ $32.93 (at higher leverage) as POS confirmed to me that it was moving back up again, on a rebound. You just have to have an idea & feel for the momentum of these events and give it a punt. You can also leverage the trades, so 1x, 2x, 3x, 4x but obviously your risk level then becomes an issue if prices move quickly, and can move against you.
If you stick to the low or medium leverage trades and only punt a small % of your total pot, stick to a stop loss, be objective & disciplined you can trade any of the major currency pairs or gold, silver, oil and any major index whether it's rising or falling - but it's not for everyone - you have to spend time watching the market if you do your own trades. The Open Book experience is totally different though - it's very social & operates a lot like FB - really cool concept.
If anyone wants to sign-up email me and I'll split the $100 bonus I'd get as introducer with you, plus you also get a 10% bonus to your equity when you open an account.
[youtube]http://www.youtube.com/watch?v=6wu1w5gYgT8[/youtube]
[youtube]http://www.youtube.com/watch?v=hb-tRQ1QZmo[/youtube]
Anyhow, this is what happened after el smackeroo:
http://forums.silverstackers.com/uploads/2731_screen_shot_2012-09-13_at_73553_am.jpg
This is the progress so far this morning - it's not a huge amount, but it's worth having - if I do that six or seven times a week I'd be happy, as a sideline.
http://forums.silverstackers.com/uploads/2731_screen_shot_2012-09-13_at_81959_am.png
Cheers (& DYOR!),
VRS
Seems interesting :/ and I'll check this out as I always seek new avenues of financial knowledge however, (and I could be a very conservative in my view here) but a quick 2min search shows me that this business was set up in Cyprus (1st red flag :/ ) and as a coincidence while I had just looked at their website this evening I was briefly side tracked for a TV program on one of the current affairs (don't know which one) highlighting a online gambling site which took a lot of good folks savings by intelligent scamming. According to the suckers they all were earning on paper but when they went to pull the dollars out the wizard behind the curtain vanished
Would you believe that after all your posts VRS especially about JPM I'm sure you of all people could not be hoodwinked
"but a quick 2min search shows me that this business was set up in Cyprus (1st red flag hmm)" I wonder if they will survive the storm now?
was I right? who knows, only time will tell