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Attachments: Gold Mining II - Using Reference Lines
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Gold Mining II - Using Reference Lines

  • Post #1
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  • First Post: Edited Nov 14, 2020 7:47am Nov 13, 2020 9:55pm | Edited Nov 14, 2020 7:47am
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
This thread GOLD MINING II - Using Reference Lines is a brain child of my first thread.
It is focused on GOLD-XAUUSD only. And it is for "mad traders" who love adventures, who are tired of text book knowledge and want the real life experience of trading.
It solidifies most of my convictions in my first thread except one contrarian view(inside disclaimer).

My projections and disclaimer based on the actions and results from using my Reference Lines herein after called Ref Lines are:
Projections and Disclaimer
1. All accounts traded using Ref Lines will die within the first five trading days(projected strongly).
2. Fund and trade with only the money you "want" to lose(very important).
3. This system is a matter of dead or alive.
4. Market will always relate with Ref Lines.
5. Traders will become more greedy and greatly afraid to trade with Ref Lines.
6. This system is unfailable.

Discovery- My Ref Lines are mathematically generated using the works and popular observations of Leonardo Bigollo Pisano c.(1170-1250) a.k.a Leonardo Bonacci a.k.a Leonardo Pisano a.k.a Leonardo Fibonacci an Italian mathematician, and François Édouard Anatole Lucas (1842–91) Lucas numbers or Lucas series as well as Volume, Simple Moving Average, market sessions. And lastly, one loose observation from Mr. Candlestick himself- Steve Nison.

We shall be using the following Ref Lines:
i. Daily: 1 - 30pips potential.(Black)
ii. Weekly: 1 - 60pips potential.(Green)
iii. Monthly: 1 - 120pips potential.(Red)
iv. Yearly: 1 - 240pips potential.(Purple)


Rules of Engagement
1. Price above Ref Line at market open, short Ref Line once(strongly recommend).
2. Price below Ref Line at market open, Long Ref Line once(strongly recommend).
3. Price relating with Ref Lines during intra day, use Price Action (at your discretion)
1 and 2 above are stop orders with respective take profits. Exemption is when market gaps,then Limit orders.

Rules of Exit
1. Take Profit set to at least 1 pip/10 points.
2. Stop Loss set to at least 150 pips/1500 points.

My Advice
1. Ask any kind of question.
2. You will be accepted and responded to accordingly.
3. Be ready to grow your account exponentialy using the law of large numbers.
4. I trade with what I want to lose, I don't use stop loss.
5. Don't use my Ref Lines to trade, your account will die within the first five trading days.
6. Trading is all about Taking Profits and Accepting Losses.

Dead or Alive
Attached Image
Kill ego, Grow EQUITY...Grow EQUITY
  • Post #2
  • Quote
  • Edited Nov 14, 2020 5:05am Nov 13, 2020 10:06pm | Edited Nov 14, 2020 5:05am
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
We shall commence trading sooner. But ensure that you reread the first post and digest it properly.

Dead or Alive
Kill ego, Grow EQUITY...Grow EQUITY
 
1
  • Post #3
  • Quote
  • Nov 14, 2020 5:04am Nov 14, 2020 5:04am
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
Gentlemen, I will be busy trading other portfolios under my management.
So, when I post the Ref Lines, put two lines on your chart to try it out. One at entry and one at take profit.
Then get back to this thread and state your discoveries.

Dead or Alive
Kill ego, Grow EQUITY...Grow EQUITY
 
1
  • Post #4
  • Quote
  • Nov 15, 2020 4:40pm Nov 15, 2020 4:40pm
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
While discussing in our mastermind group yesterday,a friend mentioned that we should not die so soon trading this system, that we extend the death sentence.

So, I will be dividing my equity by 4000 for daily Ref Line lotsize, 8000 for weekly, 16000 for monthly and 32000 for yearly.
It means the market has to go against me 4000 points to wipe out my equity trading daily Ref Line, and so on.

It sounds crazy, but to make money,you need to sound like that sometimes.

Funny enough tp is 30pips, 60pips and 120pips respectively.
Kill ego, Grow EQUITY...Grow EQUITY
 
 
  • Post #5
  • Quote
  • Nov 15, 2020 4:45pm Nov 15, 2020 4:45pm
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
Trades For Monday November 16, 2020.
We follow the rules of entry and exit.
Dead or Alive
Attached Image (click to enlarge)
Click to Enlarge

Name: 20201115-224236.png
Size: 124 KB
Kill ego, Grow EQUITY...Grow EQUITY
 
2
  • Post #6
  • Quote
  • Nov 16, 2020 8:05am Nov 16, 2020 8:05am
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
Quoting BiteFX
Disliked
While discussing in our mastermind group yesterday,a friend mentioned that we should not die so soon trading this system, that we extend the death sentence. So, I will be dividing my equity by 4000 for daily Ref Line lotsize, 8000 for weekly, 16000 for monthly and 32000 for yearly. It means the market has to go against me 4000 points to wipe out my equity trading daily Ref Line, and so on. It sounds crazy, but to make money,you need to sound like that sometimes. Funny enough tp is 30pips, 60pips and 120pips respectively.
Ignored
Today, is a very good example of dividing equity by 4000, so you don't die quick in one day.
Kill ego, Grow EQUITY...Grow EQUITY
 
2
  • Post #7
  • Quote
  • Nov 16, 2020 5:42pm Nov 16, 2020 5:42pm
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
Trade Idea
Daily Ref Line - 1891.10, Long 30 pips Take Profit.
Dead or Alive
Kill ego, Grow EQUITY...Grow EQUITY
 
2
  • Post #8
  • Quote
  • Nov 17, 2020 2:09am Nov 17, 2020 2:09am
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
Still buying...1894.10 is the TP.
Dead or Alive
Attached Image (click to enlarge)
Click to Enlarge

Name: 20201117-080737.png
Size: 124 KB
Kill ego, Grow EQUITY...Grow EQUITY
 
1
  • Post #9
  • Quote
  • Nov 17, 2020 6:04pm Nov 17, 2020 6:04pm
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
Trade Idea
Long to daily Ref Line 1889.81 as TP.
Dead or Alive
Kill ego, Grow EQUITY...Grow EQUITY
 
 
  • Post #10
  • Quote
  • Nov 18, 2020 11:51pm Nov 18, 2020 11:51pm
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
Today's Ref Line 1874.26.
Note: Yesterday's Ref Line has not been used.
Can the bulls wake up?
Am still with the bulls.
Dead or Alive
Kill ego, Grow EQUITY...Grow EQUITY
 
1
  • Post #11
  • Quote
  • Nov 19, 2020 6:37pm Nov 19, 2020 6:37pm
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
Ref Line 1869.29... Long 1860.29 to Ref Line.
Very much with the bulls.
Dead or Alive
Kill ego, Grow EQUITY...Grow EQUITY
 
1
  • Post #12
  • Quote
  • Nov 20, 2020 9:35am Nov 20, 2020 9:35am
  •  obatraid
  • | Joined Apr 2020 | Status: GOLD-DIGGER | 63 Posts
Bite sorry I've not been online for a while now, kindly what about the other thread?
Jus tryna be a BILLIONAIRE!
 
 
  • Post #13
  • Quote
  • Nov 22, 2020 1:33am Nov 22, 2020 1:33am
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
Quoting obatraid
Disliked
Bite sorry I've not been online for a while now, kindly what about the other thread?
Ignored
Obatraid, it is still very functional. Just don't want it to affect the structural integrity of that first thread.
The idea backed this one is different from that one.

Welcome back brother
Kill ego, Grow EQUITY...Grow EQUITY
 
 
  • Post #14
  • Quote
  • Last Post: Nov 22, 2020 6:22pm Nov 22, 2020 6:22pm
  •  BiteFX
  • Joined Dec 2018 | Status: THE GOLD MINER | 2,762 Posts
Ref Line 1872.49...Longing from below this price level 1869.49 for a good bullish run.
Dead or Alive
Kill ego, Grow EQUITY...Grow EQUITY
 
 
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