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Gold (XAU/USD) with BiteFX

  • #61
  • Feb 20, 2025 1:00am Feb 20, 2025 1:00am
Quoting BiteFX
{quote} These were some of the thoughts that led to my search for a trend following strategy that is suitable to my personality and then I built it into tradable system for me.
Practicing delayed gratification which in turn reduces the dopamine effect of short term wins and the euphoria of short term loses. At this point, you become one with the market.
Learn... Work Hard... Trade Alone
  • #62
  • Feb 20, 2025 2:19am Feb 20, 2025 2:19am
Question?
When you close your winning trade because you feel it has reached TP, what will you be sitting down doing then? Instead, allow your winners to run for as high as they can. That is the way I learnt to trade profitably by the books. But this system requires trusting that a trend once started will continue until the end. The end is a CHOCH. Simple!
Learn... Work Hard... Trade Alone
  • #63
  • Feb 20, 2025 2:31am Feb 20, 2025 2:31am
Quoting BiteFX
Question? When you close your winning trade because you feel it has reached TP, what will you be sitting down doing then? Instead, allow your winners to run for as high as they can. That is the way I learnt to trade profitably by the books. But this system requires trusting that a trend once started will continue until the end. The end is a CHOCH. Simple!
We can quickly close a loosing trade but we can't hold the a winning trade because the profit triggers greed and what ifs situations in your mind. I have learned it over the past several months of my trading to keep your TP in mind and move your SL. Made a huge mistake last month in my trading. Lost lots of my capital and trying to rebuild back now. I used to keep an close eye on your analysis on that Gold forum but then you disappeared. Glad you make it back here. I would really like to have a healthy trading conversation with you if we can connect and if you are comfortable. Been a very harsh two months for me. Lots of learning and book reading took place. I loved the TRADINGI N THE ZONE. Felt like the whole book was about me hahahaha. Lack of confidence i am having these days and my entries are getting shit
  • #64
  • Feb 20, 2025 4:02am Feb 20, 2025 4:02am
B$ 2951.40
Learn... Work Hard... Trade Alone
  • #65
  • Feb 20, 2025 4:21am Feb 20, 2025 4:21am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20250220-111708.png Size: 32 KB
Learn... Work Hard... Trade Alone
  • #66
  • Feb 20, 2025 5:32am Feb 20, 2025 5:32am
Quoting BiteFX
{image}
I'm glad you created a topic... Show your perspective on TP and loss as well.
Do not get emotional when you gain or lose
  • #67
  • Feb 20, 2025 5:34am Feb 20, 2025 5:34am
Observe that I did not even make mention of news event for once. This is because price movement on the chart will tell you everything about the news event. More than that, they said, buy the rumor and sell the news. How do you determine the rumor different from the news? What I am showing here is just simple common sense trading and faith in the trend that we see on the chart. Simple enough.
Learn... Work Hard... Trade Alone
  • #68
  • Feb 20, 2025 5:35am Feb 20, 2025 5:35am
Thanks for creating new thread. less noise and clear vision
  • #69
  • Feb 20, 2025 5:37am Feb 20, 2025 5:37am
Quoting BiteFX
{image}
I like your ideas and it syncs with my trade lot size as well
Buy 2950 tp 2974 sl 2946 (2929 just if need to be more caution)
  • #70
  • Feb 20, 2025 5:39am Feb 20, 2025 5:39am
Quoting mohrali
{quote} I'm glad you created a topic... Show your perspective on TP and loss as well.
Starting from the image you quoted...
SL placement is the lowest price of the two bullish candles to the left of the bear candle we entered at.
TP, we trail until we see CHOCH as explained here and a break below up cloud.
Reverse this explanation for Sell movement also.
Learn... Work Hard... Trade Alone
  • #71
  • Feb 20, 2025 5:40am Feb 20, 2025 5:40am
Quoting QuinnBlake
Thanks for creating new thread. less noise and clear vision
I'm glad you are already baptised here.
Learn... Work Hard... Trade Alone
  • #72
  • Feb 20, 2025 5:45am Feb 20, 2025 5:45am
Quoting QuinnBlake
{quote} I like your ideas and it syncs with my trade lot size as well Buy 2950 tp 2974 sl 2946 (2929 just if need to be more caution)
Yeah, SL is my only caution. Another thing I do is if original or initial SL not protective SL is hit twice in a cloud, I won't trade that cloud signal again.
Learn... Work Hard... Trade Alone
  • #73
  • Feb 20, 2025 5:52am Feb 20, 2025 5:52am
Quoting Abdullah7252
{quote} We can quickly close a loosing trade but we can't hold the a winning trade because the profit triggers greed and what ifs situations in your mind. I have learned it over the past several months of my trading to keep your TP in mind and move your SL. Made a huge mistake last month in my trading. Lost lots of my capital and trying to rebuild back now. I used to keep an close eye on your analysis on that Gold forum but then you disappeared. Glad you make it back here. I would really like to have a healthy trading conversation with you if we...
Thank you for your kind words chief. I'm a Nigerian. From Southwest zone. I dislike disrespect and look down with passion. So I had to do my thing separate from negative energies.

I will PM you. I don't sell programs or systems. But, we will be glad trading together.
Learn... Work Hard... Trade Alone
  • #74
  • Feb 20, 2025 6:25am Feb 20, 2025 6:25am
Quoting BiteFX
{quote} Thank you for your kind words chief. I'm a Nigerian. From Southwest zone. I dislike disrespect and look down with passion. So I had to do my thing separate from negative energies. I will PM you. I don't sell programs or systems. But, we will be glad trading together.
Happy to have a chat with you brother. I also don't like disrespect and leg pulling. Everyone is a learner till he/ she die. And if the respect is no longer being served that table is not worth it. Excellent decision of making your own thread and reuniting with people who actually admire your work. I am not in favor of people selling programs and systems hahahaha. I believe do good and good will come back at you. I want to seek guidance from you. Want to minimize my trading errors and discuss the methods that i use to trade. I am always down for learning and striving for excellence. BTW i am a car geek if you ever run into any sort of issues with your car you can let me know I won't let you down with the car stuff ahha
  • #75
  • Feb 20, 2025 6:26am Feb 20, 2025 6:26am
Attached Image (click to enlarge)
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Learn... Work Hard... Trade Alone
  • #76
  • Feb 20, 2025 6:29am Feb 20, 2025 6:29am
Quoting Abdullah7252
{quote} Happy to have a chat with you brother. I also don't like disrespect and leg pulling. Everyone is a learner till he/ she die. And if the respect is no longer being served that table is not worth it. Excellent decision of making your own thread and reuniting with people who actually admire your work. I am not in favor of people selling programs and systems hahahaha. I believe do good and good will come back at you. I want to seek guidance from you. Want to minimize my trading errors and discuss the methods that i use to trade. I am always...
Oh! Thank you too much chief. Let's fly
Learn... Work Hard... Trade Alone
  • #77
  • Feb 20, 2025 6:31am Feb 20, 2025 6:31am
Quoting BiteFX
{image}
SL 2933.79
Learn... Work Hard... Trade Alone
  • #78
  • Feb 20, 2025 6:37am Feb 20, 2025 6:37am
Quoting BiteFX
{quote} Oh! Thank you too much chief. Let's fly
Im in.
Attached Image (click to enlarge)
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  • #79
  • Feb 20, 2025 6:58am Feb 20, 2025 6:58am
Quoting Abdullah7252
{quote} We can quickly close a loosing trade but we can't hold the a winning trade because the profit triggers greed and what ifs situations in your mind. I have learned it over the past several months of my trading to keep your TP in mind and move your SL. Made a huge mistake last month in my trading. Lost lots of my capital and trying to rebuild back now. I used to keep an close eye on your analysis on that Gold forum but then you disappeared. Glad you make it back here. I would really like to have a healthy trading conversation with you if we...
My story too similar . Good thoughts put into words
  • #80
  • Feb 20, 2025 7:00am Feb 20, 2025 7:00am
Quoting QuinnBlake
{quote} I like your ideas and it syncs with my trade lot size as well Buy 2950 tp 2974 sl 2946 (2929 just if need to be more caution)
How do you define SL and TP , what gives one that direction?
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