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  #1  
Old 25-10-2007, 08:43 AM
GoldSilver2007 GoldSilver2007 is offline
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Default Futures Trading on Gold

Hi all,

Anybody into futures trading on Gold, especially using Poems? Can give more info? Is futures trading difficult to learn? Any course teacher/trainer to recommend? And is futures trading risky?

Appreciate you inputs.

Cheers
GoldSilver2007
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Old 25-10-2007, 09:57 AM
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rollerblader rollerblader is offline
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Default futures

Thought GB5K will be teaching us when we join the club. One of the perks, right?

To me, any fella who dabbles in futures is a pro. (perhaps last long enough)
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Old 26-10-2007, 01:59 PM
GoldSilver2007 GoldSilver2007 is offline
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No pro lah. Just want to learn more. But I do trade in US options (and almost run my trading capital to zero!) and am currently buying an option on a mining company.

I want to learn futures trading. Have sign up for a FREE one-to-one coaching with Phillips Securities trader. Don't know whether this free coaching provided by them has a catch or not.

GoldSilver2007
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Old 26-10-2007, 02:40 PM
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rollerblader rollerblader is offline
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Default Poems

I use poems as well. Perhaps you share your experience after the course. There is this mini-contract GB5k was talking about.

I was thinking about what makes physical so important. I ponder on what it meant - nobody can affect the real value it has. Few months back, BNP stop trading its mutual funds for 2 days because of the subprime mess. The investors werent able to do anything about it while the value dropped during those 2 days.

I guess when the crunch comes, the bank/govt can withhold gold trading especiallly paper gold say for 2 days while returning you the cash 2 days later after announcing some 'measures' to curb the rise of gold. Effectively giving you less fiat currency than what the gold is worth. And those measures may make you all your wait go unrewarded.

I wonder if gold futures is subject to this as well. If we dont already hold the physical, we may sometimes be 'frozen' to act or just cant act fast enough. I guess many retail investors are like me when it comes to this aspect. Small investors like myself just have to force ourselves to get physical from time to time. 1 oz at a time.
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Old 26-10-2007, 11:42 PM
Inagaki Inagaki is offline
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Hi, I trade gold/silver futures on Poems too.

It's a leveraged play, so comes with the usual risks.Remember not to over leverage. Safe to have at least 5-6k in the account to start buying one contract, even though the margin for silver is only 1.2k and gold - 1.6k. I had once read only use up to 40% of your account. Gotta leave some space in case the price move downwards.

Decide how much loss you can stomach and put stop loss. One disadvantage of Poems is you need to re-key your stops everyday.

Do ensure you can be at the terminal everyday. I'm only a few months old, and am lucky I make because this round I went in when gold dipped couple days back. Lost before too.

For mini gold contract - for each dollar the price moves, you win/loss ard S$50.00. So if gold price move up $10, you get $500. Silver is priced like $13.345 ( 3 decimal places) every 0.001 moves will cause a U$1 gain/loss. E.g Buy 13.4 & Sell 13.45 - win U$50. something like that.

Do tell how's the one on one coaching. I learnt it by going right into the market, playing very cautiously. Still learning.
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Old 27-10-2007, 12:47 AM
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GoldBull5000 GoldBull5000 is offline
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The best way to learn the basics of futures trading is to read a book first.

http://www.amazon.com/Trading-Commod...3417277&sr=8-1

I am against any kind of paper trading. It will teach you the wrong things in trading.

Trading is all about mental strength, it takes long time to build your own trader's mind.

Just be aware that all kind of free trading seminars are out there to teach you to trade often. Because then they can make good commission money off your trades.
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  #7  
Old 27-10-2007, 09:30 AM
GoldSilver2007 GoldSilver2007 is offline
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Hi all, I have actually stumped onto Phillip Securities website and sign on their one-to-one FREE coaching. Have yet to see them respond to me yet.

Like GB5k mentioned, I believe that this is one way to encourage their potential clients to trade often and generate commission. I half suspect this may be a type of clients-recruitment scheme for the dealers.

I totally believe in getting physical metals. I wonder how can I leverage in this ride up as I have only that amount of limited fund for physical metals. It is just like US mining shares, if I have the money, I will definitely buy the mother shares. If not, I can only go for options, with its greater risks.

Thanks, GB5K, for the link. I will try to get that book and read up on it. And frankly, I just want to acquire metals but my sources of purchase are limited as I am averse to buy on the net. (Old fashion)

Cheers
GoldSilver2007
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Old 28-10-2007, 10:43 PM
iamsimone iamsimone is offline
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Hi,

I just started a few weeks back trading futures on peoms on mini-silver and sugar.

made some and lost some ... very volatile and exciting. Imagine if you play full-sized silver or gold !
You need to know why the market moves ... and guess along the way.

Risky to have too many open positions.

Good luck,
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  #9  
Old 28-10-2007, 10:46 PM
iamsimone iamsimone is offline
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And met up with a few poems brokers before that ... and had one-to-one coaching >>> NO GOOD.

Just believe in yourself and take the plunge ... you'll learn along the way.

Key thing -- know the timing and dates of release of key economic US data and oil data.
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  #10  
Old 30-10-2007, 09:40 PM
GoldSilver2007 GoldSilver2007 is offline
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Hi all,

I have just attended a talk by Phillip Securities at the Poems Investor Centre at Toa Payoh. I don't think it is wise to go for futures gold or silver.

However, the Spot mini silver and spot gold look interesting. For USD 1125, can control 1 kg of gold.

Any comments on this?

Cheers
GoldSilver2007
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