Trade on Gold (XAUUSD)

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arbusers
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Trade on Gold (XAUUSD)
« on: June 04, 2021, 05:50:43 AM »
+1

This is to inform you that I just opened a small spot position on Gold (XAUUSD) at $1860. This is part of my short term trading portfolio and I already placed a sell order at $1955. According to my technical analysis it is a matter of some weeks until we see that price.
I also remind you of my XAGUSD position which has a longer time frame: https://arbusers.com/index.php?topic=8043.0
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neopas
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Re: Trade on Gold (XAUUSD)
« Reply #1 on: June 04, 2021, 07:44:53 AM »
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My base currency is EUR and my only concern is what the EUR/USD pair will do in the next weeks to come. You may end up in a situation where your bet is correct, but you lose more money due to USD devaluation.
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Wolfie
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Re: Trade on Gold (XAUUSD)
« Reply #2 on: June 04, 2021, 10:00:07 AM »
0

My base currency is EUR and my only concern is what the EUR/USD pair will do in the next weeks to come. You may end up in a situation where your bet is correct, but you lose more money due to USD devaluation.

Its the same thing if you keep your money in Gold, your base currency doesnt matter, in fact its the opposite if you buy it with usd practically you are selling usd so you are protecting yourself from devaluation.
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tomtom70
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Re: Trade on Gold (XAUUSD)
« Reply #3 on: June 04, 2021, 10:10:24 PM »
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this is correct, a long position in XAUUSD is short USD. If you buy XAU with your home currency, this is actually buying XAUUSD and buying USD vs EUR (short EURUSD). Therefore, in this case you lose if EURUSD goes up (USD goes down vs. EUR) and XAUUSD stays where it is. If you buy XAU vs USD you still have a (small) position in USD vs. your home currency, but only for the P&L of the trade. This can work in both directions. Be careful in such trades (e.g. via CFD) as the loss is theoretically unlimited if USD is not your home currency (imagine XAUUSD going down, the loss is in USD. Then, if USD rises simultaneously vs EUR your loss gets bigger). If you would like to reduce this residual risk you could start hedging it with EURUSD positions. In this case, you will end up with a XAUUSD position and a correlation position (XAUUSD vs. EURUSD). For practical reasons, however, most people wouldn't do that. If you would like to eliminate the correlation risk as well, the product you would have to look for is called a "quanto" where the P&L of the XAUUSD trade will be paid out in EUR. As far as I know, this kind of product is typically available only for institutional clients.
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CharlieSheen99
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Re: Trade on Gold (XAUUSD)
« Reply #4 on: June 05, 2021, 01:30:33 PM »
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Did you put any stop loss?
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arbusers
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arbusers

Re: Trade on Gold (XAUUSD)
« Reply #5 on: June 05, 2021, 04:45:00 PM »
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Did you put any stop loss?

No. I have another price target, if achieved, I will multiply my position.
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CharlieSheen99
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CharlieSheen99

Re: Trade on Gold (XAUUSD)
« Reply #6 on: June 05, 2021, 05:23:23 PM »
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Did you put any stop loss?

No. I have another price target, if achieved, I will multiply my position.

Do you think that is safe, to bet without stop loss on this kind of trades. Remember WTI March 2020. Anyway i think that it is a controlled risk.
Now is at 1890, do you recommend to buy it or i wait for 1860?
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arbusers
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arbusers

Re: Trade on Gold (XAUUSD)
« Reply #7 on: June 05, 2021, 07:29:57 PM »
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No, it is not safe to invest without a stop loss. In this case, I will set a stop loss if/after I reposition my self.
In addition, Gold is not Tesla, BTC or anything else that goes up and down according to the quality of coke one might sniff.

Now is at 1890, do you recommend to buy it or i wait for 1860?

I always recommend buying at the prices that I suggest. 1891 to 1955 is 40% less than the potential performance that I look for. I wouldn't get it.
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arbusers
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arbusers

Re: Trade on Gold (XAUUSD)
« Reply #8 on: June 17, 2021, 11:56:38 AM »
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This is to inform you that I bought an additional spot position bringing my average buying price to $1840.
The selling price is to be decided.
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CharlieSheen99
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CharlieSheen99

Re: Trade on Gold (XAUUSD)
« Reply #9 on: June 17, 2021, 12:15:02 PM »
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This is to inform you that I bought an additional spot position bringing my average buying price to $1840.
The selling price is to be decided.

Stop loss, please?
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arbusers
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arbusers

Re: Trade on Gold (XAUUSD)
« Reply #10 on: June 17, 2021, 12:42:53 PM »
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A daily close (not a wick) bellow 1770.
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balls of steele
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balls of steele

Re: Trade on Gold (XAUUSD)
« Reply #11 on: June 17, 2021, 01:43:45 PM »
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I wish I could see your face when you are shaken out.
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arbusers
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arbusers

Re: Trade on Gold (XAUUSD)
« Reply #12 on: June 17, 2021, 06:01:45 PM »
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A daily close (not a wick) bellow 1770.

Nope. The turn around is very near according to technicals. I willed it run.
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nahcarts
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nahcarts

Re: Trade on Gold (XAUUSD)
« Reply #13 on: June 17, 2021, 06:44:25 PM »
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usd UP ... gold DOWN

twitter.com/PeterLBrandt/status/1405481246294167555
« Last Edit: June 17, 2021, 06:55:04 PM by arbusers » Logged
arbusers
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Re: Trade on Gold (XAUUSD)
« Reply #14 on: June 18, 2021, 05:31:26 PM »
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The situation is not that bad if we include in our calculations the 3% profit from the DXY.
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