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  • #47,281
  • Oct 17, 2024 9:21am Oct 17, 2024 9:21am
Quoting Haks
{quote} It's crazy but I don't believe I lost due to martingales. I believe its simply due to me not having a stop-loss in place. Literally went against my risk management rules. Feel like shit.
Chin up man. Go for a walk and enjoy the simple shit, puts in perspective.
Que Sera
  • #47,282
  • Oct 17, 2024 9:21am Oct 17, 2024 9:21am
Quoting Lloyd628
{quote} Sorry to read this. Hope you will be back (pretty) soon.
Cheers mate. It's unfortunate because I lost 12k in August and now down another £9k today.

Maybe give up trading but I will continue to try.
  • #47,283
  • Oct 17, 2024 9:21am Oct 17, 2024 9:21am
Quoting Haks
{quote} It's crazy but I don't believe I lost due to martingales. I believe its simply due to me not having a stop-loss in place. Literally went against my risk management rules. Feel like shit.

Martingale is a way of thinking - you try to catch the top and using that strategy you can have multiple tries at catching that top. The problem is when you run out of chances and the top is not in. I know because I was/am trading the same way. Now I try to change the way I look at the chart first and what I try to do.

Once you change the mindset - meaning what are you looking for, then you won't rely on Martingales so much. It is an useful tool, but it must be employed as a tool and not as the main thing of the strat.
  • #47,284
  • Oct 17, 2024 9:22am Oct 17, 2024 9:22am
Quoting Interesting0
{quote} rate cuts are probably priced in ages ago we should be at -40% rates at current prices, Middle East also minor Israel Iran etc been going on for decades nothings changed to change the global game. All this just n excuse to take it higher… I don’t know maybe banks pumping up their reserve value by pumping gold in readiness of conversion to loans. Current geo politics or state of the economies to me personally has very little correlation this very high price on gold.
Yeah it doesn't quite make sense. Even the bond yields are all up massive today yet gold continues to pump.
  • #47,285
  • Oct 17, 2024 9:23am Oct 17, 2024 9:23am
Quoting NrSLionHeart
{quote} Có vẻ hơi xa... Tôi cho rằng 2712-2715 là mức tối đa có thể đạt được trong tuần này.
yes 2737-2747 seems far but the day frame limit is here so i have to be patient . either wait or don't trade . the market is crazy . the fed prints money but the whole world buys usd because it suits the political tension .
the fed gets rich so easily when they wipe out our accounts
  • #47,286
  • Oct 17, 2024 9:23am Oct 17, 2024 9:23am
Quoting Haks
{quote} Cheers mate. It's unfortunate because I lost 12k in August and now down another £9k today. Maybe give up trading but I will continue to try.

I know that I will take a lot of fire for this, but maybe you should consider talking to Pedro? I am sure that for a "small fee" he will help you. I genuinely believe that if you spend some money on him at the level you are it will be best money you spent in this trading thingie...
  • #47,287
  • Oct 17, 2024 9:25am Oct 17, 2024 9:25am
Quoting smellyfeet
My mother in law prediction for the next few days! {image}
ooppps!!
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Behind Every Chart Lies An Opportunity Waiting To Be Uncovered.!!!
  • #47,288
  • Oct 17, 2024 9:28am Oct 17, 2024 9:28am
Quoting Haks
{quote} Cheers mate. It's unfortunate because I lost 12k in August and now down another £9k today. Maybe give up trading but I will continue to try.
Do not pay anyone. Nobody knows where the price is going.
The market hides a perfect geometry.
  • #47,289
  • Oct 17, 2024 9:28am Oct 17, 2024 9:28am
Come on. Instead of these teasing little peaks over the top, just run.
  • #47,290
  • Oct 17, 2024 9:32am Oct 17, 2024 9:32am
Quoting FulMargnAlch
{quote} Do not pay anyone. Nobody knows where the price is going.
And of course. Everybody knows after the fact. And will post countless analysis proving they are right. lol
The market hides a perfect geometry.
  • #47,291
  • Oct 17, 2024 9:32am Oct 17, 2024 9:32am
Here it is just before account was blown
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  • #47,292
  • Oct 17, 2024 9:32am Oct 17, 2024 9:32am
Quoting Haks
{quote} Yeah it doesn't quite make sense. Even the bond yields are all up massive today yet gold continues to pump.

It actually does. Israel just killed Yahya Sinwar like 1h ago and this is the PRETEXT to send the price to the moon.
  • #47,293
  • Oct 17, 2024 9:33am Oct 17, 2024 9:33am
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Contrarian
  • #47,294
  • Oct 17, 2024 9:34am Oct 17, 2024 9:34am
Quoting NrSLionHeart
{quote} I know that I will take a lot of fire for this, but maybe you should consider talking to Pedro? I am sure that for a "small fee" he will help you. I genuinely believe that if you spend some money on him at the level you are it will be best money you spent in this trading thingie...
Thanks but I promise myself to never do such a thing.

Again, this incident happened due to not placing a stop-loss and just trying to scalp. I was impatient.
  • #47,295
  • Oct 17, 2024 9:34am Oct 17, 2024 9:34am
Quoting Haks
Here it is just before account was blown {image}
You can earn that back.
The market hides a perfect geometry.
  • #47,296
  • Oct 17, 2024 9:36am Oct 17, 2024 9:36am
Quoting MrFanciful
Come on. Instead of these teasing little peaks over the top, just run.
FML if thats the top haha
Que Sera
  • #47,297
  • Oct 17, 2024 9:36am Oct 17, 2024 9:36am
@Hacks

I will tell you what I do once I blow an account.

1. I analyze WHY I have blown it. Like in your case you used a Martingale which works 95% of the time and you got into that 5% of cases.
2. I think on WHAT to do to be a better trader.
3. I study some new strategies and ideas maybe I can find something that can help me move forward.
4. Open a demo account and trade on it like 2-4 weeks.
5. Open a real money account and give it a try with an updated strat and mindset.

I hope it helps.

NOTE: price is going up and will still go up, so practically you had no chance with your strat...
  • #47,298
  • Oct 17, 2024 9:37am Oct 17, 2024 9:37am
Quoting NrSLionHeart
{quote} It actually does. Israel just killed Yahya Sinwar like 1h ago and this is the PRETEXT to send the price to the moon.
Yes, I also took this into account in my earlier post.

Quoting Haks
{quote} Yes, I've also noticed lately that even when data comes in positive for the dollar, it doesn't seem to affect gold. And even when it does drop, it rises almost immediately. Just too strong lately. But I guess, there are other factors in play apart from the dollar. Middle east tension, imminent rate cuts, etc.
  • #47,299
  • Oct 17, 2024 9:37am Oct 17, 2024 9:37am
Quoting NrSLionHeart
{quote} It actually does. Israel just killed Yahya Sinwar like 1h ago and this is the PRETEXT to send the price to the moon.
bro they been killing chiefs n leaders for decades in secret n in the open.
  • #47,300
  • Oct 17, 2024 9:40am Oct 17, 2024 9:40am
Rachel Reeves sparks gold rush ahead of expected Budget tax raid (msn.com)
Que Sera
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