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Make More Money - Eliminate DRAMA 11 replies

Just posting my trades, everyone is welcome but no drama 2 replies

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Gold with No Drama

  • #63,021
  • Jul 13, 9:13am (4 hr ago) Jul 13, 9:13am (4 hr ago)
Quoting farshadfx
{quote} I believe even if price pulls back it will be new opportunity to go short
Yeah, it's could be. All I care right now is to make money. I do not trade trends in gold. It's useless because Trump is the market.
  • #63,022
  • Jul 13, 9:13am (4 hr ago) Jul 13, 9:13am (4 hr ago)
Quoting Zebi
{quote} every person has different goals on a trade so u shouldnt be matching his set ur own sl and tp that fits ur comfort zone all of us trade differently, have different account sizes, greed and fear factors so its idiotic to follow someones sl since it might be a pittance to his account size but ruin you if you have a small account

Fair point. I wasn't planning to match anyone's SL. I actually set my own SL based on my analysis. I was just interested in understanding how other traders manage their trades. I'm new here, so I'm naturally trying to learn from some experienced members whose posts I find insightful. Thanks for your input.
  • #63,023
  • Jul 13, 9:14am (4 hr ago) Jul 13, 9:14am (4 hr ago)
long at 4000 seems legit with a small sl i think it needs at least a reset to 4050
  • #63,024
  • Jul 13, 9:16am (4 hr ago) Jul 13, 9:16am (4 hr ago)
Quoting TrapBuddy
{quote} keep holding!,this trade is just for patience traders :-) I'm in the same trade {image}
Nice trade we took My profit almost $9000
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Hi I'm Aayush.j
  • #63,025
  • Jul 13, 9:18am (4 hr ago) Jul 13, 9:18am (4 hr ago)
It should be around this area to target at least 4050. I will wait it for next 2 hours maybe.
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  • #63,026
  • Jul 13, 9:18am (4 hr ago) Jul 13, 9:18am (4 hr ago)
Quoting Mitiblotch
{quote} Yeah, it's could be. All I care right now is to make money. I do not trade trends in gold. It's useless because Trump is the market.
Trump must have hurt us all big time
  • #63,027
  • Jul 13, 9:20am (4 hr ago) Jul 13, 9:20am (4 hr ago)
Quoting Mitiblotch
{quote} Yeah, it's could be. All I care right now is to make money. I do not trade trends in gold. It's useless because Trump is the market.
Good luck Dear
Emotional decision would be harmful
  • #63,028
  • Jul 13, 9:25am (4 hr ago) Jul 13, 9:25am (4 hr ago)
Quoting Mau2609
{quote} Fair point. I wasn't planning to match anyone's SL. I actually set my own SL based on my analysis. I was just interested in understanding how other traders manage their trades. I'm new here, so I'm naturally trying to learn from some experienced members whose posts I find insightful. Thanks for your input.
Same here. I'm trying to learn from the experienced traders in those communities. I'm only like 5 months into this. I am trading currencies and recently got onto XAUUSD.
  • #63,029
  • Jul 13, 9:29am (4 hr ago) Jul 13, 9:29am (4 hr ago)
Quoting Mitiblotch
{quote} Yeah, it's could be. All I care right now is to make money. I do not trade trends in gold. It's useless because Trump is the market.
I remember you last week it was or before that there also you went against the trend you said you will short
  • #63,030
  • Jul 13, 9:31am (4 hr ago) Jul 13, 9:31am (4 hr ago)
Quoting farshadfx
{quote} Good luck Dear Emotional decision would be harmful
You are assuming things that do not exist. I put up my chart clearly showing that my long is deviation 2 which has already given a bounce. Wake me up when you close the day below it. I do not need luck. The trade is pragmatic and based on sound judgement.
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  • #63,031
  • Jul 13, 9:32am (4 hr ago) Jul 13, 9:32am (4 hr ago)
Why is Trump tweet bullish for gold? Is there any reason?
The Strait of Hormuz is still open but this could increase tensions again. Iran has never wanted any other country especially the USA to control it. If the US tries to take control Iran could respond by attacking US ships or other vessels passing through the strait.
This is creating serious tension in the Middle East. Iran may also target countries in the region that support or help the US.
If the US attempts to control the Strait of Hormuz it could be a negative sign for regional stability.
Now lets wait and see how Iran reacts.
Patience
  • #63,032
  • Jul 13, 9:34am (4 hr ago) Jul 13, 9:34am (4 hr ago)
Quoting Muxb7
{quote} I remember you last week it was or before that there also you went against the trend you said you will short
Trend has been short. But I do not short lows. I was short last week. And towards rhe end i went long Friday and made money. It is utter madness selling 4000. There is no short until you get a daily close below 3940. This is simple trading. And if you get a close below 3940 that would be a break of structure. You don't sell there. You wait for retracement to go short.
  • #63,033
  • Jul 13, 9:35am (4 hr ago) Jul 13, 9:35am (4 hr ago)
Dear xau .. you're the best thing that ever happened to me lol
Another series of T.P will be appreciated.... I low-key think xau is reaching dangerously oversold area and a reversal could occur soon... But what do I know anyway
  • #63,034
  • Jul 13, 9:36am (4 hr ago) Jul 13, 9:36am (4 hr ago)
Quoting Mitiblotch
{quote} You are assuming things that do not exist. I put up my chart clearly showing that my long is deviation 2 which has already given a bounce. Wake me up when you close the day below it. I do not need luck. The trade is pragmatic and based on sound judgement. {image}
FYA
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  • #63,035
  • Jul 13, 9:36am (4 hr ago) Jul 13, 9:36am (4 hr ago)
Friendly advice: stop buying gold
  • #63,036
  • Jul 13, 9:38am (4 hr ago) Jul 13, 9:38am (4 hr ago)
Quoting fxcontest
Buy, 4004 - 05, sl 3990
SL at BE++
Holy Betting Grail strategy
  • #63,037
  • Jul 13, 9:40am (4 hr ago) Jul 13, 9:40am (4 hr ago)
who the fuck is selling anxiously
  • #63,038
  • Jul 13, 9:41am (4 hr ago) Jul 13, 9:41am (4 hr ago)
bulls shudnt have been trying to fuk with americas holiday
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short trump and go long the deepstate
  • #63,039
  • Jul 13, 9:43am (4 hr ago) Jul 13, 9:43am (4 hr ago)
Quoting BeeTogether
No SL just manual if i see enough damage SL will be once i am below 4000
let’s goooo
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  • #63,040
  • Jul 13, 9:44am (4 hr ago) Jul 13, 9:44am (4 hr ago)
Quoting Mau2609
{quote} Fair point. I wasn't planning to match anyone's SL. I actually set my own SL based on my analysis. I was just interested in understanding how other traders manage their trades. I'm new here, so I'm naturally trying to learn from some experienced members whose posts I find insightful. Thanks for your input.
Since you asked i gonna share what i've learnt.
Stop loss = a stop order types.
Price cannot gap through it whether market is open, no matter how prop firms sell it to you to deny you your payouts.
Price can gap it, on special events, weekends holding(gap typically larger), daily close vs next day open(gap smaller).

If it does during market hours, your broker/props runs a B-book modal business = legal scammers.

SL can be set using different criteria:
#1 Easiest. % on account. risk 1%/trade. 3 trade/day. AT most on any trading day, you are down at most 3% = your worst day. Next day you are left with 97% of your account to try your luck with new opportunities.

#2 Portfolio based. Same as #1, but risk % is based on portfolio while brokerage account is here only for maintenance margin. Best for multiple accounts.

#3 Price based. Psychological price limit. "if price reach $xxxx, i need to get out"

#4 Standard deviation, still price based, but incorporate volatility together.

#5 Volatility based. higher the volatility larger the stop loss.

Now according to money management, we can use whatever we can for different market condition, different trade type, but all have 1 thing in common that is position sizing.

We need to size our positions in such a way, that fits our parameters for setting up SL and how much drawdowns are we willing to take amid market trade against us.

Now, there is another school of thoughts who said SL is not needed.
If we can size our positions adequately, we hedge. So we can buffer our drawdowns.
These folks are professional money managers.

But What i have learnt is no matter how much we can buffer our drawdowns, we will eventually met an event where a large proportion our account/portfolio will go in red.
Are we willing to face this when the time comes? Cause it is a matter of when, not whether or not?

I have seen better trader than me, get crushed, because when it had occurred, it had not only destroyed their accounts which they painstakingly built, but also destroyed their will to continue to be a trader.
Asymmetric home run trades only!
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