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Gold: Basic Trading discussion

  • #61
  • Jan 11, 2021 5:30am Jan 11, 2021 5:30am
Ok an excellent event to discuss 3 months of demo account with very high return rate but on friday night i went long gold m5 later i had 90 pips profit but when swing came down i was sleeping and now my account has slept forever
  • #62
  • Jan 11, 2021 7:03am Jan 11, 2021 7:03am
Quoting OwaisJam
Ok an excellent event to discuss 3 months of demo account with very high return rate but on friday night i went long gold m5 later i had 90 pips profit but when swing came down i was sleeping and now my account has slept forever
so sorry hear that sir.. at least you have to try the best you can.. Keep on eager mood..
  • #63
  • Jan 11, 2021 7:33am Jan 11, 2021 7:33am
Quoting meugampong
{quote} so sorry hear that sir.. at least you have to try the best you can.. Keep on eager mood..
Mate i was having 2000$ profit with lot of 2 in this scnerio i have learned never go away in m5 tf.
Now when a loss incurs it makes me happier coz now i know what happened few years ago i used to be sad with a question why did it happen
atleast now i know what happened
  • #64
  • Jan 11, 2021 7:44am Jan 11, 2021 7:44am
if i can say sir.. i always using M1 to gauge may entry off course my bias is on daily Tf, running down to H1 and execute at M1..
cause i hate WIde Sl and Huge Drawdown
nothing bad with small TF as long we know how tu use that..
congrats for Your 2K mate.. i'm happy to hear that..
im just a beginner... i hope one day i can be like you.. senior.
  • #65
  • Jan 11, 2021 7:53am Jan 11, 2021 7:53am
Quoting meugampong
if i can say sir.. i always using M1 to gauge may entry off course my bias is on daily Tf, running down to H1 and execute at M1.. cause i hate WIde Sl and Huge Drawdown nothing bad with small TF as long we know how tu use that.. congrats for Your 2K mate.. i'm happy to hear that.. im just a beginner... i hope one day i can be like you.. senior.
Cmon mate u are already good your analysis are knowledge based while i know nothing but how to use RSI i am thinking to learn elliot waves that will be an amazing addition.
  • #66
  • Jan 11, 2021 7:58am Jan 11, 2021 7:58am
I want to share something my observation in risk management is this thing is very overrated type of concept if you have 100$ and put 10 trades of volume 0.1 and your stop loss is like 100pips and if u are 50% right u can earn much more in those 5 trades than u lose in other 5 trades.
while traders use 0.01 lot at this amount i dont think this way one can be a full time trader.
  • #67
  • Jan 11, 2021 8:03am Jan 11, 2021 8:03am
Quoting meugampong
if i can say sir.. i always using M1 to gauge may entry off course my bias is on daily Tf, running down to H1 and execute at M1.. cause i hate WIde Sl and Huge Drawdown nothing bad with small TF as long we know how tu use that.. congrats for Your 2K mate.. i'm happy to hear that.. im just a beginner... i hope one day i can be like you.. senior.
bud what i fount about M1 is it gives a lot of fake signals changes directions very fast which made me confused thats why i dont use it
yes this is a good technique but now m5 is enough for me it gives me good understanding.
  • #68
  • Jan 11, 2021 8:14am Jan 11, 2021 8:14am
Quoting OwaisJam
{quote} bud what i fount about M1 is it gives a lot of fake signals changes directions very fast which made me confused thats why i dont use it yes this is a good technique but now m5 is enough for me it gives me good understanding.
yes sir.. i know it confused for who not usual doing this type of entry..
like i said, my bias is still on bigger TF.. just my entry to get the best price ..
here we go sir my example entry, im so sorry.. im not trade Gold..
this is.. E/A and still running..

Low Risk Huge Reward..
Attached Image (click to enlarge)
Click to Enlarge Name: EA Example 2021-01-11 211251.png Size: 33 KB
  • #69
  • Jan 11, 2021 8:48am Jan 11, 2021 8:48am
Quoting meugampong
{quote} yes sir.. i know it confused for who not usual doing this type of entry.. like i said, my bias is still on bigger TF.. just my entry to get the best price .. here we go sir my example entry, im so sorry.. im not trade Gold.. this is.. E/A and still running.. Low Risk Huge Reward.. {image}
Yeah mate while i was out i was thinking about this let me have a look.
  • #70
  • Jan 11, 2021 8:54am Jan 11, 2021 8:54am
Quoting meugampong
{quote} yes sir.. i know it confused for who not usual doing this type of entry.. like i said, my bias is still on bigger TF.. just my entry to get the best price .. here we go sir my example entry, im so sorry.. im not trade Gold.. this is.. E/A and still running.. Low Risk Huge Reward.. {image}
Nope its not working
  • #71
  • Edited 12:56pm Jan 11, 2021 12:45pm | Edited 12:56pm
Taking Short For Gold..
In this trade, i don't expect price making new Lower Low..
Indication of reversal is appears.. HNS Pattern..
that why i put My Sl Tight and Trail it as Soon As Possible to reduce Risk
My Target is 1.83750
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Analisa Gold.png Size: 25 KB
Click to Enlarge Name: Gold Trade 2021-01-12 013922.png Size: 23 KB
  • #72
  • Jan 11, 2021 2:03pm Jan 11, 2021 2:03pm
Quoting meugampong
Taking Short For Gold.. In this trade, i don't expect price making new Lower Low.. Indication of reversal is appears.. HNS Pattern.. that why i put My Sl Tight and Trail it as Soon As Possible to reduce Risk My Target is 1.83750 {image} {image}
nice one!!!
  • #73
  • Jan 11, 2021 8:31pm Jan 11, 2021 8:31pm
Quoting OwaisJam
{quote} bud what i fount about M1 is it gives a lot of fake signals changes directions very fast which made me confused thats why i dont use it yes this is a good technique but now m5 is enough for me it gives me good understanding.
Yeah mate , same to me , i was to enjoy for scalping from thurstday till friday , i was earned a lot profit from 200$ to 800$ and then gold falling into 1880 and all my profit gone and mc , damn. now i do farming again with target 10-30 $ 1 day and ill stop , i think cosistance is really important
  • #74
  • Jan 11, 2021 10:22pm Jan 11, 2021 10:22pm
Quoting meugampong
Taking Short For Gold.. In this trade, i don't expect price making new Lower Low.. Indication of reversal is appears.. HNS Pattern.. that why i put My Sl Tight and Trail it as Soon As Possible to reduce Risk My Target is 1.83750 {image} {image}
HIT my BEP.. nevermind.
  • #75
  • Jan 12, 2021 1:44am Jan 12, 2021 1:44am
Lets go my dude, hoping for pullback or might miss the train to 1900 maybe
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20210112-153807_MetaTrader 4.jpg Size: 775 KB
Intraday trader
  • #76
  • Jan 12, 2021 3:14am Jan 12, 2021 3:14am
Quoting CSurfer
Lets go my dude, hoping for pullback or might miss the train to 1900 maybe{image}
Enjoy the ride!!!
  • #77
  • Jan 12, 2021 8:29am Jan 12, 2021 8:29am
M5 bulls gonna take charge be ready
  • #78
  • Jan 12, 2021 8:33am Jan 12, 2021 8:33am
Quoting ugank106
{quote} Yeah mate , same to me , i was to enjoy for scalping from thurstday till friday , i was earned a lot profit from 200$ to 800$ and then gold falling into 1880 and all my profit gone and mc , damn. now i do farming again with target 10-30 $ 1 day and ill stop , i think cosistance is really important
what i think is gold behaviour is diff from currencies other currencies do work in m1 but for me gold m1 doesnot work u should give a look and compare both i did and my way of trading doesnot suits m1 moreover currencies are way much slower than gold u need to wait too long for good ammount.
  • #79
  • Jan 12, 2021 10:47am Jan 12, 2021 10:47am
Quoting OwaisJam
{quote} what i think is gold behaviour is diff from currencies other currencies do work in m1 but for me gold m1 doesnot work u should give a look and compare both i did and my way of trading doesnot suits m1 moreover currencies are way much slower than gold u need to wait too long for good ammount.
yeah mate , i never use M1 , i always use M5-m15 for entry and h-1 for knowing trend , but sometimes and almost every time i do scalp always forget when to stop it , now i got that lesson , and i wont forget put the SL every time i OP
  • #80
  • Jan 12, 2021 12:46pm Jan 12, 2021 12:46pm
Quoting ugank106
{quote} yeah mate , i never use M1 , i always use M5-m15 for entry and h-1 for knowing trend , but sometimes and almost every time i do scalp always forget when to stop it , now i got that lesson , and i wont forget put the SL every time i OP
btw how much do u sacrifice for sl
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