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Old 04-15-2010, 03:49 AM
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Default Selling XAG/USD--SILVER--Up 24 pips

I like selling spot silver on a mini account. The market is currently at 18.42 I want to sell at 18.14 and buy at 18.69. The difference between the two is 55 pips or $27.5.

I'm placing two separate orders on a metatrader account.

silver.JPG
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Old 04-16-2010, 04:28 PM
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Quote:
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I like selling spot silver on a mini account. The market is currently at 18.42 I want to sell at 18.14 and buy at 18.69. The difference between the two is 55 pips or $27.5.

I'm placing two separate orders on a metatrader account.

Attachment 7
We are making money on this we are up about 22 points. I'm lowering my buy order to 18.14. This will act as a stop. I'm hedging the position
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Old 04-16-2010, 04:44 PM
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We are making money on this we are up about 22 points. I'm lowering my buy order to 18.14. This will act as a stop. I'm hedging the position
Changed my buy order to 18.23...if we get hit at 18.23 the difference will be a loss of $4.50. We entered our sell order at 18.14. If the market comes back up to 18.23 I will tend to be more bullish on the market and will eventually exit the short position and look to make money on a long position.

What I'm looking for now is a correction in the market. If we begin to drift lower I think the market will correct.
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Old 04-17-2010, 12:12 AM
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This trade went great again I'm only practicing on a mini account but I got filled at 18.14 and the market is currently at 17.67.

The problem I run into now is do I take my full profit or place my stop higher up in order to not get stopped out and let my profits run.

I think I'm going to place a buy order at 17.9. That way I have 24 points of profit and a cushion to not get stopped out in case of a bounce back.

I think the market will continue to sell off drastically. If we bounce back towards 18 I'm going to become more bullish
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Old 04-19-2010, 01:55 AM
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Put buy order in at 17.90 to hedge the position and lock in profit
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Old 04-19-2010, 01:37 PM
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Lowering buy order to 17.84

silver1.JPG
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Old 04-20-2010, 02:45 AM
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Got hit on the buy order at 17.84. I think I'm up $12....I'm trading on a mini account

I'm undecided on the direction of silver at the moment.
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Old 04-22-2010, 06:20 PM
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I don't know which way Silver is headed. It didn't sell off as quickly as I expected. I still think it may continue to sell off.
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