Gold

Any tips how you recovered from that? As I don’t know what Can I do to improve. Could you guys please send me some suggestions of how can I improve my trading. Thanks

Pathetic though, but have you learnt the lesson from your story.
professionally traders are encouraged to risk not more than 2% of there account, this is because Gold market is highly volatile. Had it been you played by that rule or maybe adjusted it a bit to 5%, your account might have survived this crazy bull run, never give up, the old is past, save up and comeback free of those errors that blew your account and you see how immensely the market will reward you.

You probably know that the brokers at red news sometimes use huge slippage, meaning your loss calculation doesn't end with your SL?

Gold technical outlook
The Relative Strength Index (RSI) indicator on the daily chart stays well above 70, suggesting that Gold remains technically overbought in the near term. If XAU/USD fails to reach a new high and starts a technical correction, the Fibonacci 23.6% retracement of the February-April uptrend could be seen as the first bearish target at $2,230 ahead of $2,200 (20-day Simple Moving Average)

Lets go short guys..

I won't give you 2 percent lecture like others because I know no retail traders follows that bullshiit. Even I lost money and many other traders lost it too.

Take a break fund again and try to get your money back.

W0lfram
Your statistics are very convincing, I've been waiting for a long time for you to show off your treasures again.
I took a picture of your 2nd pic (2019 only).

So you can never be sure that the prices will come back.
Don't add money to the broker with an unclear hope, risk 1%, better 0.5% - that's how the top dealers do it.
(I know, it's hard to do with small accounts, so calculate beforehand what your deals will do).
The mood is often very heated before red news. It is therefore better to stay away from the forum during this time if you are change your mind too quickly.

Still in a short? like me? This doesn't have to be over on Monday, so W0lfram explained via his first spreadsheet.

The 2343 neighborhood might be something to keep an eye on, the daily cycle's basically in line with AB=CD

i always said a comet would have to hit earth for gold to breakout and for a year I was right LOL

it wasn't a comet that hit earth since we all would have heard about it so it must have been a meteorite that fell somewhere that made gold take off LOL



I was short and stayed short out of stubbornness and hoped that gold would retrace and it did for awhile and I got back to breakeven couple weeks ago and I didn't get out so because of my stubbornness and I lost 5000 dollars on my gold trade... its not so bad cause I made money on UJ longs and GU shorts so Im almost brokeeven for this month so far so I'm not crying just want to give full disclosure of my lousy trade instead of hiding and holding my head down in shame

please don't tell my troll in cable thread about this cause he's dying to know how much I lost and I wont tell him

GOLD upcoming price move analysis...

" because of my stubbornness and I lost 5000 dollars on my gold trade..."

__________ @Zebi , dont feel Bad abt this , I gave this 5K to da REDCROSS of ur Country m8

And whenever I've a Profitable xu trade , I'll pm you - - I wont post it in this stinkin kindergarten room NO MORE 4sure !

Don't worry no sane person would have taken you seriously.

maybe not LOL

but I haven't gotten a buy signal on my weekly or monthly charts so ill try shorting again using vic sperendeos 2B setup on the daily chart

Armies are being retreated in Israel. Ceasefire talks going on. If it’s implemented there will be no reason for gold to at these prices. We can then see a healthy correction hopefully.

PA under control. April month candle should close in red before move higher. Monday high will be my short position. I think 2334-7. If any changes. Time to time. Will change the trade setup. Wherever goes. I will follow behind.

I was bearish last week but this week is proving to be a good bull run for gold analyzed and I believe Monday will at least not flop yet if this is another bullish week this will be crazy...

Trust is gone between countries. They are on war and antichrist mode. Real gold buyers and holders are winning.

maybe the price will go down monday. As there was no very bad news. But it will stay on tension about what Iran will do.

Since there was no much tension this weekend, price should correct even below 2290 before New York open tomorrow

I think the most important aspect is knowing yourself, your up’s and down’s. Once you know those you can turn them to work in your favour. This is a good foundation.
Trading is like working like a fireman who gets paid per fire. You don’t make any money until a fire happens, and you cannot force a fire(unless you are a rogue trader who decided to get fired from a bank), you don’t make any money if you succumb to the fire or quit and let the fire continue burning down the house without you putting it out. When the fire is gone - that’s when you get paid.

Trading can be fun, but most of the time it is details, hard work, research and risk management. The best time for me is after a long and planned trading scenario which been successful and i am almost flat for a while, trying to get rid of positions that were timed wrongly or where i lacked proper judgement in. It’s a cleaning period where i’m less stressed and can look at the faulty trades as well as my winner trades without much bias or influence by current positions. I get mentally/emotionally prepared for the next battle during this period.

Alot of people believe that forums like this will help their trading performance, but i am certain that the opposite is true. Imagine: If most of the posts are from non-winners the only logical course of action to become a winner is to fade the advice you see here.
Everyone has a motive, even me. In which most are basic human social interaction, simple self promotion, we try to make ourselvses look good, feel good, be smart etc.

A handful of posters have the motive to help others. Many of them figure that if they can’t win, maybe they can help someone else and that makes them into a winner somehow. Maybe so.. But likely it is a case of the blind leading the blind.
I think you can make money from trading forex or any other market for that matter, from the way you yourself learned and interpret the market, not the way some very literate, but non-winner says you should interpret it.
Think of that the next time you read a ”helpful” post. 98% or more chance the post is from a non-winner.

Most so called ”edges” are in reality not any kind of edge but a course of mass action. There is no support and resistance etc.. there is only competition, greed, stability and protection etc. You have to read the political landscape and the context you base your decisions from.
There was once ’edges’ during the 80s and 90s and earlier periods, they however became public knowledge when the ’Information age’/’internet age started to advance. The banks/funds etc responded by hiring smarter people then they ever hired before to develop more complex strategies to develop new edges for them to make money, the old edges already being frontrunned.

So everytime there is a new edge you have a ’Cookies’ and ’scanners’ on forums like this which collects information, sends em to an A.I under a certain context to see if they can make a strategy out of it.
The strategies is sooner or later caught by their competitors which leads to frontrunning of these strategies, as more people adopt these strategies markets become more efficient and they disappear.

The key for you is to identify whenever one of your strategies holds true, and when it’s most likely to be false.
None of us can ever compete against A.I, low-latency HFT and supersmart traders at banks. However we can always rely on their limit of capital and competition between each other(as long as not banks get acquired by bigger banks).

So whenever you see a strategy or type of knowledge being frequently discussed on a forum like here, know that this strategy will eventually become frontrunned/nullified by banks, so you must devise a strategy to counteract this.
Where is the logic in this? Cause money cannot run haywire -everybody is in to make money, when one strategy is the dominant one it opens up the floodgates to the forgotten ones.

Keep your eyes open, and think several steps ahead. Know yourself as well as others.
Retreat when you make to much profit or losses.
And most important of all: don’t get into the trap of confirmation bias(!)
I hope this helps!
/Ferna

Hi Queen of trade ️

Please reconsider your crazy bull.

It was Futures data.

Have found 3x larger FX dataset with 99 632 candles, 14 202 matches: 3x more outliers (377 = 2.65%), 3x more missing values (73 = 0.51%). Looks consistent...

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