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  • #47,921
  • Oct 21, 2024 11:02am Oct 21, 2024 11:02am
Quoting Nordling
{quote} Chill mate, there are many traders in this room boasting & showing off over small things after losing big in the last couple of weeks. Fardeen's post is probably the most innocent and least offensive one compared to those. We all give advices from time to time, he just did that.
Of course, I understand this perfectly well. Nevertheless, we need to have a constructive dialogue and have self-control in the end, and he took it upon himself to teach me, although I did not ask him to, and also called him a fool. He's kind of funny or maybe he's not healthy. I apologize that this is not the topic of this branch.
Desire is a set of possibilities And reluctance - a lot of reasons ....
  • #47,922
  • Oct 21, 2024 11:04am Oct 21, 2024 11:04am
Quoting lipopos
{quote} Of course, I understand this perfectly well. Nevertheless, we need to have a constructive dialogue and have self-control in the end, and he took it upon himself to teach me, although I did not ask him to, and also called him a fool. He's kind of funny or maybe he's not healthy. I apologize that this is not the topic of this branch.
I was crazy now i'm insane
More time in the market, does not mean you trade better!
  • #47,923
  • Oct 21, 2024 11:06am Oct 21, 2024 11:06am
I've tightened my stops

Short at 2738 (Only half size unfortunately)
SL at 2741
TP - Open ( I don't think this is gonna be a massive pullback) (I've got 2685 as a place holder incase things get real bearish)

Will add more if price pops up 2733-2735...

The dollar seems to have gold by the bits right now, so this might be one that just goes
  • #47,924
  • Oct 21, 2024 11:09am Oct 21, 2024 11:09am
Quoting lipopos
{quote} Are you out of your mind? I asked you not to throw pompous words around, but to explain to THOSE who, from YOUR words and not from MINE, "don't understand when and where to trade with a return to the mean." But I don't need an explanation, I didn't ask you about it. It's of no use to me.
In short, if trying to catch top or bottom is your strategy (by your, not meant to you personally but the trader), then MAJORITY OF SWING/TREND YOU WILL BE BETTING AGAINST IT, WHILE IT UNFOLDS, AND YOU ARE NOT RIDING IT, WHERE THE BUCKS COME FROM
More time in the market, does not mean you trade better!
  • #47,925
  • Oct 21, 2024 11:12am Oct 21, 2024 11:12am
Maybe new ath today
  • #47,926
  • Edited 11:28am Oct 21, 2024 11:15am | Edited 11:28am
Quoting Fardeen1209
{quote} Good then keep trying to catch top/bottom.
Look, you're definitely not normal! Did I ask you to explain to me how to trade? You said that someone out there doesn't understand it., (I'm not one of them-) hear me. To them (who did you mean there) and explain it, not to me. It's better to teach them in private messages and save us from this on the branch page. What kind of swings should I have, where should I put what, why should I follow your advice and conclusions? Now the information is personal to you, personally, I left the buy position 3.5 hours ago even before I read your funny post.
Desire is a set of possibilities And reluctance - a lot of reasons ....
  • #47,927
  • Oct 21, 2024 11:20am Oct 21, 2024 11:20am
Quoting lipopos
{quote} Look, you're definitely not normal! Did I ask you to explain to me how to trade? After all, from your words, someone does not understand, (I am not one of them) explain to them and not to me, and do not throw high words without actual action. You can teach them your truth in private messages, so that we don't blow our brains out. NOW you UNDERSTAND the alien.
Do you know the meaning of follow ups, or alien didnt go to schooll?
This why as a human being happen to be on earth, quote you into this posts
Quoting Fardeen1209
{quote} In short, if trying to catch top or bottom is your strategy (by your, not meant to you personally but the trader), then MAJORITY OF SWING/TREND YOU WILL BE BETTING AGAINST IT, WHILE IT UNFOLDS, AND YOU ARE NOT RIDING IT, WHERE THE BUCKS COME FROM
.

P/S: I only slide into hot chic DMs
More time in the market, does not mean you trade better!
  • #47,928
  • Oct 21, 2024 11:30am Oct 21, 2024 11:30am
anyone got a long position on gold here. 2719. might be decent
  • #47,929
  • Oct 21, 2024 11:37am Oct 21, 2024 11:37am
Looks like a good buying opportunity here but i will pass since i only trade news events

Technical edge
Fundamental edge

Not the ideal setup for me, good one but not perfect. Pass


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You have to have an IQ higher than 90 to interact with this user.
  • #47,930
  • Oct 21, 2024 11:46am Oct 21, 2024 11:46am
Quoting Fardeen1209
{quote} This is why i emphasis partial take profit, to cover the risk, for example when trading gold
Partial take profit doesn't really help, it only makes you calmer as trader. But in longterm, all those missing profits due to partial profit taking will eat into your overall profitability massively. It is better to let the trade run as planned, keeping your predefined R's (whatever you aim for) and then if you want, you can have a partial (10%..) position size to run until you get the opposite signal or your system tells you to close.

Closing half position at 1R lets say (so you're at breakeven if the trade turns around immediately and runs to your SL) will either get you 0R (instead of -1R) or you will get less and less profit, the more you keep your trade running. If you aim for 2R, you will only get 1.5R (25% less), if you aim for 3R, you will get 2R (33% less), if you aim for 4R, you'll get 2.5R (37.5% less) and so on. That will add up over time. Now, if your success rate to reach 1R is 70% of the time, how many of those trades end up being in loss after 1st TP? IF not many, than you're really losing money on partial take profit. If many, than you can adjust R to reflect that.

Quoting Fardeen1209
{quote}For #3 to happen, this is where understanding of fundamental is crucial. The 'reason' to move the price ... The conjunction of the TA and FA gives the trader the edge to be on the trade that occurs under the situation #3 majority of the time. So being wrong is no longer a matter, when you know majority of your trade will be under #3.
You don't know majority of trades will be under #3. Noone knows. You need a very very large trade sample to claim that and even then, you gotta count with extreme situations that will make back-to-back losses that look at first glance as #3. Being wrong is part of the trading plan.
  • #47,931
  • Oct 21, 2024 11:46am Oct 21, 2024 11:46am
Quoting Asylum1
anyone got a long position on gold here. 2719. might be decent
with tight stop
  • #47,932
  • Oct 21, 2024 11:47am Oct 21, 2024 11:47am
Quoting michiyo
{quote} with tight stop
aiming for 2745
  • #47,933
  • Oct 21, 2024 11:55am Oct 21, 2024 11:55am
Quoting mades
{quote} Partial take profit doesn't really help, it only makes you calmer as trader. But in longterm, all those missing profits due to partial profit taking will eat into your overall profitability massively. It is better to let the trade run as planned, keeping your predefined R's (whatever you aim for) and then if you want, you can have a partial (10%..) position size to run until you get the opposite signal or your system tells you to close. Closing half position at 1R lets say (so you're at breakeven if the trade turns around immediately and...
Well explained, but we can always add ons.
Pretty sure no one will come to this overnight, as add ons take a lot of mathematical equation and can turn a winning trade into losing one. (Fact: Even a high probability winning strategy can turn into a losing one with add ons).

So untill the trader himself do hard work and dive into the realm into money management, i would not recommend someone without experience to use add ons. Trading career is a ladder just like any other profession, and we do not become a pro overnight, takes lot of sacrifice, sweats, tears to develope a strategy, and an effective money mangement that complement with the traders' strategy.
More time in the market, does not mean you trade better!
  • #47,934
  • Oct 21, 2024 12:06pm Oct 21, 2024 12:06pm
Hm, I like to short gold, but I'm shorting SVM stock, more predictable. Gold anf silver like mad donkeys.
  • #47,935
  • Oct 21, 2024 12:20pm Oct 21, 2024 12:20pm
Guys who are low on testosterone
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Damn i love this job and life
More time in the market, does not mean you trade better!
  • #47,936
  • Edited 1:15pm Oct 21, 2024 12:36pm | Edited 1:15pm
https://www.forexfactory.com/thread/...1#post15032951
on the way down to <2400
XAUUSD H4
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The lower positions will be eliminated when I could add higher positions and lower positions are reached.
This way I try to get a maximum of 5 positions for the way down.
Now I am short:
2739.99; 2736; 2731; 2723; 2715 = small Lot

edit 20:00 MESZ
SL if > 2780, partial
Hedge earliest if ~2670 = short counter movements = small Lot*3 upto 5
  • #47,937
  • Oct 21, 2024 12:36pm Oct 21, 2024 12:36pm
Quoting mades
{quote} Partial take profit doesn't really help, it only makes you calmer as trader. But in longterm, all those missing profits due to partial profit taking will eat into your overall profitability massively. It is better to let the trade run as planned, keeping your predefined R's (whatever you aim for) and then if you want, you can have a partial (10%..) position size to run until you get the opposite signal or your system tells you to close. Closing half position at 1R lets say (so you're at breakeven if the trade turns around immediately and...
Many traders quit because they no longer have money to develop their strategy, this is why i said we play defensive.
When the trader develop his strategy and get his edge, with appropriate money management strategy, he will survive and concurrently thrive.
Almost all my post are in parts, as i'm closely monitoring Nas100, we are in US trading session, so no much time to chit chat.
More time in the market, does not mean you trade better!
  • #47,938
  • Oct 21, 2024 12:39pm Oct 21, 2024 12:39pm
Crazy price action today. Do you guys think profit taking will set in post US election or the rally will continue?
  • #47,939
  • Oct 21, 2024 12:46pm Oct 21, 2024 12:46pm
Quoting NrSLionHeart
{quote} The idea is that I was trying for 6 months and I got nowhere... It is easy to comment if you do not actually try! Again, I do not want to spend my life looking at a screen and wait for the green line to cross the red line for peanut money. Trading for today: {image} 8.8% of the account profit... and the day is not over... 503 USD ... on the road to 600...
Again, it is your choice. If you choose that approach to trading it's fine. Just don't neglect the reality of your approach. Anyone can make 8% a day, anyone can even make 400% in a day... but doing that consistently Year over Year is next to impossible and will probably lead you in a never ending cycle of High % gains and then a Higher % loss.

Take a moment to reflect on your trading Journey so far and what aiming for a High % return has created for you. You will see this cyclical nature I am describing.

And I'll leave you with one last bit... DELAYED GRATIFICATION & COMPOUNDING. Don't underestimate the power of these two concepts. If you spend the next 5 years growing your capital in your account by constantly depositing and trading with a solid and flexible risk management plan, you'll more than likely be better off that aiming for a high % return in the short run, hoping to hit big.
X - https://x.com/macrodave_
  • #47,940
  • Oct 21, 2024 1:19pm Oct 21, 2024 1:19pm
Quoting azhantahir
{quote} Buy times maybe another HH coming soon or pullback for H1 No one know. IMO {image}
Waiting for it. Maybe tonight or maybe tomorrow. Candlestick already mentions it. Respect the market. Calm down and focus on it. IMO

#Need large pools for buy orders
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Look right, we'll see the signs
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