NEM and AG: Buying a 3.5% and 2.7% position respectively here

Just documenting this entry.

AG was Tim West's suggestion, NEM             , is a good gold             proxy here.

Good luck,

Ivan Labrie.
Comment: Moving well.
Comment: I doubled my positions shortly after the open, but only mentioned it in the KHL chatroom.
Comment: Looks good, crossing fingers for the Italy news...
Comment: For AG traders (this was posted in the KHL chatroom in response to a query for someone who missed the trade, but it is valid to add to it as well):

the tight stop option might be too aggressive
I'd favor the stop at $7, risking 0.5% for the first entry you take
and then gradually adding
and reducing stops
in this enviroment."
Comment: "$NEM is the same
Trade closed manually: I wanted to see the outcome of the weekend news, but the result was appaling for risk off bets, so I'm out of all risk off positions.
Comment: Interestingly enough, these are turning up again, despite risk off factors being mitigated. EURUSD is rallying, so we might see a continuation of the upside, perhaps we can reenter soon.
Trade active: I actually reentered a day ago.

Good results so far. Test of resistance, but we didn't break above it yet. I think it can go a bit higher while XAGUSD rallies.

I got this AG idea before you did :-)

IvanLabrie coolingla
@coolingla, great, we're in for a treat ;)
coolingla IvanLabrie
@IvanLabrie, I like your posts a lot. I guess you are more profitable than most of the traders here. I am mostly an investor in the sense that I almost never go short and only invest in stocks. I will try to learn more about shorting and/or trading since I see the general stock market peaking sometime next year. There are gonna be a lot of shorting opportunities.
tradingpro IvanLabrie
@IvanLabrie, Which trading platform do you use?
+1 Reply
IvanLabrie tradingpro
@tradingpro, quite a few, I've tried interactive brokers, td ameritrade, etrade, fxopen, 1broker.com, kraken.com and heard good things about colmex and exante, and possibly saxo bank.
TD Ameritrade is nice, thinkorswim is a good trading platform and can vouch for it.
Interactive brokers has lower commissions but their trading platform is more 'dated', although arguably the best broker.

Colmex and Exante, might be good for people outside the US, or people who can't get an account with the aforementioned brokers, who might come from a 'shadier' Forex broker based in say New Zealand (more 'entry level' traders). I'm going to try Exante next, I did like their demo platform, but haven't tried trading live for now. I'll give my impressions once I use it.
Colmex is strictly CFDs and FX, but Exante supposedly lets you trade 'real' equities and options, and not CFDs.
tradingpro IvanLabrie
@IvanLabrie, Cool Thanks for info. I am using Thinkorswim for now.
AG calls have been a winner since your post. Thanks Ivan. (and thanks Tim).
+1 Reply
@ParCorn, thanks, hope it helped.
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