Let's talk "SILVER"

[ezrydn]

Most traders I've talked with seem to shy away from commodities. However, a "sleeper" commodity is "SILVER." I've been watching and trading Silver this week and found it highly profitable. However, there are a couple of things you need to be aware of first.

First fact: Silver moves extremely slowly! Most of the time, it displays a blank tick chart on your MT4. The display just moves "off chart." There is NO volatility in Silver.

Second fact: Silver is usually a "3 pip" spread. However, 1 pip = $50, so you're $150 (or 3 pips) down as you open your order.

You need to be sure you're facing a strong Up or Down Trend for trades to truly be beneficial. Then, it takes little movement to realize $4-600 profits. Normally, when I land on the chart, I place a horizontal line on price. Then, throughout the day, I can tell which direction it's favoring.

Suggestion: Open a chart on Silver and keep it displayed throughout the day. I, again, use the M15 TF and trade 1.0 lots. Once a strong trend develops, I Open the order...and wait. Also, trends in Silver tend to be short. They don't last long. I've never seen a long run with Silver like the currencies display sometimes. Trading Silver Teaches Patience.

 

[ezrydn]

Yesterday, Monday, Silver was sideways all day, all TFs. Nothing happened. It was like Silver didn't know what to do. However, the next day, today, Silver has found it's head and is in a slow (as usual) down trend. It's solid and I'm in the money. Is anyone else riding this?

 

[ezrydn]

Silver Oddity of the Day:

At 10am, CDT, the price movement of Silver stopped! Dead stop! I was/am sitting in the M15 TF and there's been NO movement. Which causes the question to arise, "What other than price continuing OR "A Gap" might be forming. Price was headed downward when the stoppage occurred but I have no clue which direction it might gap.

It's now 1:45pm, CDT, and still no movement. I'm looking forward to learning what Silver might be ready to teach me. LOL

 

[ezrydn]

As a retired Chief Engineer in Radio/TV, I should have known. Broker lost signal yesterday. Nothing FOREXy about it. LOL Sigs back up and all's well again.

 

[ezrydn]

Friday ended with a $3K profit week and there were only two good trading days last week. My first Silver trade this morning is already $2K in the money. IF you can cover an opening spread of $150/trade (3 pips) and, IF you can handle trading 1.0 lots, you ought to be checking Silver.

You don't trade in a sideways market! It must be an established UP or DOWN trend. There's no need for SL or TP points as Silver moves very slowly. Entry & exit is simply Open/Close order. Find a TF with a definite trend. There's much more easy, available profit in Silver than I've ever seen in currencies.

 

[ezrydn]

Over the past couple of weeks that I've been camping on Silver, I've noticed that you might get 2-3 good days a week to trade. As I said, Silver is a slow mover. I've also noticed that no trends last longer than approx. $3K in profits. I've not seen a trade that didn't start to fall apart by that time.

It would seem that the market is in "hold back" prior to the US elections.