that was a false breakout, not enough momentum, I'll stay out of the markets for now and hope for dips to the lower 1230's to buy.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

if it breaks clear of 1245 I'm hopping on it

XAU/USD & XAG/USD - Gold & Silver Traders Thread

haha got this spot on, that's 500 pips banked in 30 min

XAU/USD & XAG/USD - Gold & Silver Traders Thread

long from 1235, target is 1240, it doesn't feel like there's enough volume for a major rise atm

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I'm long and I don't even know if I want it to go up so I can take profits or down so I can buy some more and sell in the 1240s again

XAU/USD & XAG/USD - Gold & Silver Traders Thread

unbelievable, this was by far the most remarking day in my trading history thus far. I was losing heavily and $500 away of getting a margin call with that spike down because I made a terrible blunder calculating the safety margin, but it rebounded ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

please explain?

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I hope you guys with longs survived that spike

XAU/USD & XAG/USD - Gold & Silver Traders Thread

you think we might go near 1250 Xtrade? Or would you lock in the profits at around 1240?

XAU/USD & XAG/USD - Gold & Silver Traders Thread

this is exactly what I was talking about. Tight stops with this volatility is asking to be stopped.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

this is what I'm talking about, the volatility of the gold makes stops look like magnets the market just went down about 1000 pips and then up around 400

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I have a different approach at that. my definition of risk is not what you choose to invest, but when you're picking trades that aren't trending and very hard to predict, that's like gambling to me. If I have a trade that all my indicators and ...

biggest frustration or obstacle you have faced so far?

I have 3 Longs opened at around 1234, targets are 1240, 1245 and 1250. If they all get through I'm expecting to be up around 30 to 40% of my account today/this week I'm 700 pips up right now and closing in one first target, hope there's no ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

yes and I'd class that as overtrading even if I did double that account.

biggest frustration or obstacle you have faced so far?

with enough I mean enough to start making a decent living as a full time trader. and if you're only taking 2% risks on your capital that's like 40 dollars a trade in a 2000 dollars account, you'll end up overtrading if you want to make any kind of ...

biggest frustration or obstacle you have faced so far?

this is a fantastic post. I bet 99% of those 99% hardly put a serious and dedicated effort at learning to trade.

Another reason why 99% of traders fail

undercapitalization is a big one, you just can't start with 1-2000 Dollars and expect to make enough to live by if you're following the 2% risk rule

biggest frustration or obstacle you have faced so far?

to all of you (and me) opening longs today, it might be a while till it goes up to the 1250/60s again, so don't panic if you're on red for a while.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

if you had opened it at about 1235, I guess sure, go ahead with no TP point, but opening at the 1254's and 55's, and looking at the weekly market range that's quite a gamble if you don't have a set target, even if every chart was trending up. I deal ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

these kind of spikes have lately been accompanied by retracements that go below the original break through price. I think you should have set a TP for a point close to 1260, that is if you couldnt watch the markets. also I've found that tight stop ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread