Gold | Page 2384 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD

Attachments: Gold
Exit Attachments

Gold

  • #47,661
  • Oct 20, 2024 1:46am Oct 20, 2024 1:46am
Quoting Whale
{quote} i started with 1 cent without leverage and now i own a country and a plane
He a funny kid, we should have some fun keeping him around this thread.
  • #47,662
  • Oct 20, 2024 2:07am Oct 20, 2024 2:07am
Quoting IndianFX
{quote} I started with 10 cents and now own an Island and a yacht.
More realistic than being crippled for a lifetime and owning war manufacturer's stocks (and being happy it sells to murder more people)
The market hides a perfect geometry.
  • #47,663
  • Oct 20, 2024 2:17am Oct 20, 2024 2:17am
Quoting FulMargnAlch
{quote} Who say's we "must" trade with the trend? What is trend anyway? Who is considered a contrarian trader? Who assigns them? What is the criteria? If you follow those criteria, will you be millionaire?
Who say's we "must" trade with the trend?

I do, but only if you want to make a profit - the trend of price that is, go against price and you will lose.

The rest is well known, general knowledge of the trading world.

It takes a lot for me to IGNORE you, but you can try.
  • #47,664
  • Oct 20, 2024 2:29am Oct 20, 2024 2:29am
Quoting Erebus
{quote} Who say's we "must" trade with the trend? I do, but only if you want to make a profit - the trend of price that is, go against price and you will lose. The rest is well known, general knowledge of the trading world.
So because you follow the trend you will make profit?

Are you aware of the countless trend following system, indicators, and EAs here in this site alone?

How come 95% still lose if they follow the trend?

What makes you think you are unique and everyone else is dumb?

What is your definition of trend?
The market hides a perfect geometry.
  • #47,665
  • Oct 20, 2024 2:36am Oct 20, 2024 2:36am
Quoting Erebus
{quote} Who say's we "must" trade with the trend? I do, but only if you want to make a profit - the trend of price that is, go against price and you will lose. The rest is well known, general knowledge of the trading world.
Erebus, thank you for taking the newbies to school but looks like they wanna learn the hard way

They will get what you mean when they sell a strong pair/buy a weak one and wonder why the price keeps moving against them.
You have to have an IQ higher than 90 to interact with this user.
  • #47,666
  • Oct 20, 2024 2:43am Oct 20, 2024 2:43am
Hi FulMargnAlch,

You make a good point, following the trend certainly does not guarantee a profit, there is a lot more to profitable trading than just that. And, of course, you can be consistently profitable not trading with the trend if you trade a non-trend following method well.

That said, Erebus also has a valid point, I think. Trading with the trend - assuming we can correctly identify that - is an edge in your favour. A defined trend means the directional probability of the next price move is not random, it is more likely to be with the trend than against it. An edge. But that is all it is, a tilted probability of some magnitude. That in itself guarantees nothing but many would try to trade with the prevailing flow rather than against it for choice, just to get the perceived probability tilt in their favour.
  • #47,667
  • Oct 20, 2024 2:47am Oct 20, 2024 2:47am
Quoting Nordling
{quote} Erebus, thank you for taking the newbies to school but looks like they wanna learn the hard way They will get what you mean when they sell a strong pair/buy a weak one and wonder why the price keeps moving against them.
This is common knowledge.

Buy strong, sell weak, recycled stuff over and over again.

Literally, everybody knows this yet price just pumps and dumps out of nowhere.

After the move/fact, ANALysts will come in and rationalize it.

NOBODY KNOWS WHERE PRICE IS GOING YET PEOPLE JUST FOLLOW THE TREND = BECAUSE IT'S TRENDING
The market hides a perfect geometry.
  • #47,668
  • Oct 20, 2024 2:50am Oct 20, 2024 2:50am
Quoting Oldtraderman
Hi FulMargnAlch, You make a good point, following the trend certainly does not guarantee a profit, there is a lot more to profitable trading than just that. And, of course, you can be consistently profitable not trading with the trend if you trade a non-trend following method well. That said, Erebus also has a valid point, I think. Trading with the trend - assuming we can correctly identify that - is an edge in your favour. A defined trend means the directional probability of the next price move is not random, it is more likely to be with the trend...
Hi,

Thanks for your input.

Basically, trend is like faith. Just trust it. Because nobody can correctly identify it like God, same with reversal.
The market hides a perfect geometry.
  • #47,669
  • Oct 20, 2024 2:56am Oct 20, 2024 2:56am
Quoting FulMargnAlch
{quote} This is common knowledge. Buy strong, sell weak, recycled stuff over and over again. Literally, everybody knows this yet price just pumps and dumps out of nowhere. After the move/fact, ANALysts will come in and rationalize it. NOBODY KNOWS WHERE PRICE IS GOING YET PEOPLE JUST FOLLOW THE TREND = BECAUSE IT'S TRENDING
Why so angry mate? Chill.

You can guess a move before the fact, and some people do it with high accuracy (not 100% of course). They are not on youtube or reddit though and they don't sell courses. That's why we don't see them. But saying that they don't exist is like saying "i don't see UV rays so they don't exist".

Trading is all about stacking the odds in your favour. Trading with the trend won’t guarantee results, but even if it increases your chances of winning by 5% is a very good improvement.
You have to have an IQ higher than 90 to interact with this user.
  • #47,670
  • Oct 20, 2024 3:01am Oct 20, 2024 3:01am
Quoting Nordling
{quote} Why so angry mate? Chill. You can guess a move before the fact, and some people do it with high accuracy (not 100% of course). They are not on youtube or reddit though and they don't sell courses. That's why we don't see them. But saying that they don't exist is like saying "i don't see UV rays so they don't exist".
I'm chilling here bro. Actually, I am waiting for a person to comment here to share his benevolent wisdom for us.
The market hides a perfect geometry.
  • #47,671
  • Oct 20, 2024 3:09am Oct 20, 2024 3:09am
Quoting Nordling
{quote} Why so angry mate? Chill. You can guess a move before the fact, and some people do it with high accuracy (not 100% of course). They are not on youtube or reddit though and they don't sell courses. That's why we don't see them. But saying that they don't exist is like saying "i don't see UV rays so they don't exist". Trading is all about stacking the odds in your favour. Trading with the trend won’t guarantee results, but even if it increases your chances of winning by 5% is a very good improvement.
Yes I understand all of these "stacking the odds" thing. We all do this.

Some add more indicators to increase chances of winning.

Some tweak indicators nonstop if something goes wrong.

more of something = more profits

less of something = less profits

or could it be true? hmmm
The market hides a perfect geometry.
  • #47,672
  • Oct 20, 2024 3:11am Oct 20, 2024 3:11am
Quoting FulMargnAlch
{quote} I'm chilling here bro. Actually, I am waiting for a person to comment here to share his benevolent wisdom for us.
He just did sprinkle some of that wisdom. But i doubt anyone will lay out their whole edge in public.
You have to have an IQ higher than 90 to interact with this user.
  • #47,673
  • Oct 20, 2024 3:15am Oct 20, 2024 3:15am
Quoting FulMargnAlch
{quote} Yes I understand all of these "stacking the odds" thing. We all do this. Some add more indicators to increase chances of winning. Some tweak indicators nonstop if something goes wrong. more of something = more profits less of something = less profits or could it be true? hmmm
Indicators are just tools. They make your job easy, if they are used right but they won't generate consistent profits on their own. I use oscillators to gauge the momentum and strength of the pairs i am trading. In order to avoid buying the weak ones and selling strong ones like XAUUSD right now. But that's only like 20% of the things that i am doing.

So, more indicators doesn't mean more profits.
You have to have an IQ higher than 90 to interact with this user.
  • #47,674
  • Oct 20, 2024 3:22am Oct 20, 2024 3:22am
Quoting Nordling
{quote} Indicators are just tools. They make your job easy, if they are used right but they won't generate consistent profits on their own. I use oscillators to gauge the momentum and strength of the pairs i am trading. In order to avoid buying the weak ones and selling strong ones like XAUUSD. But that's only like 20% of the things that i am doing. So, more indicators doesn't mean more profits.
So you are using oscillators to gauge the strength of an asset? Overbought/oversold thingy?
The market hides a perfect geometry.
  • #47,675
  • Oct 20, 2024 3:25am Oct 20, 2024 3:25am
Quoting FulMargnAlch
{quote} So you are using oscillators to gauge the strength of an asset? Overbought/oversold thingy?
Nope. There's no such thing as overbought and oversold. I don't sell when the RSI hits 70. It actually says "don't sell, bulls are in control".
You have to have an IQ higher than 90 to interact with this user.
  • #47,676
  • Oct 20, 2024 3:34am Oct 20, 2024 3:34am
Quoting Nordling
{quote} Nope. There's no such thing as overbought and oversold. I don't sell when the RSI hits 70. It actually says "don't sell, bulls are in control".
Please help me here.

Using this basic and most used oscillators + we have "bearish trend" here, we should also sell because bears are in control
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 30 KB
The market hides a perfect geometry.
  • #47,677
  • Oct 20, 2024 3:43am Oct 20, 2024 3:43am
Quoting FulMargnAlch
{quote} Please help me here. Using this basic and most used oscillators + we have "bearish trend" here, we should also sell because bears are in control {image}
No need to answer.

The point is, there is always rationalization after the fact because nobody knows and the alternative is stacking the odds, who made or popularize these odds anyways.
The market hides a perfect geometry.
  • #47,678
  • Oct 20, 2024 3:56am Oct 20, 2024 3:56am
Quoting FulMargnAlch
{quote} Please help me here. Using this basic and most used oscillators + we have "bearish trend" here, we should also sell because bears are in control {image}
Bears were in control between 17 July and 25 July. And i need a fundamental reason to go short. Which i finally got in 25 July with US GDP

Attached Image (click to enlarge)
Click to Enlarge Name: Adsız.png Size: 40 KB


Attached Image (click to enlarge)
Click to Enlarge Name: xau.png Size: 37 KB


Now there is a nice 20 point Gold sell trade. from 2373 to 2353. Just in a few hours. Free money.

Like i said, blindly following the oscillator or any other indicator won't make you profitable. Because it's just a tool. Can you expect a hammer to put a nail in the wall on it's own? No. Indicators are no different. You have to figure out what's happening in the markets first. Then use indicators to just enhance the odds.
You have to have an IQ higher than 90 to interact with this user.
  • #47,679
  • Oct 20, 2024 4:04am Oct 20, 2024 4:04am
Quoting Nordling
{quote} Bears were in control between 17 July and 25 July. And i need a fundamental reason to go short. Which i finally got in 25 July with US GDP {image} {image} Now there is a nice 20 point Gold sell trade. from 2373 to 2353. Just in a few hours. Free money. Like i said, blindly following the oscillator or any other indicator won't make you profitable. Because it's just a tool. Can you expect a hammer to put a nail in the wall on it's own? No. Indicators are no different. You have to figure out what's happening in the markets first. Then use indicators...
If you gonna ask why should we go short after seeing the GDP report, i would be laying my whole edge so i won't

And as you can see i have 2 indis there, but i don't advise to listen to them all the time. They are just gauges like the one's in our cars. Gas pedal is under my control. I just look at them whenever i decide to press the pedals
You have to have an IQ higher than 90 to interact with this user.
  • #47,680
  • Oct 20, 2024 4:23am Oct 20, 2024 4:23am
Quoting Nordling
{quote} If you gonna ask why should we go short after seeing the GDP report, i would be laying my whole edge so i won't And as you can see i have 2 indis there, but i don't advise to listen to them all the time. They are just gauges like the one's in our cars. Gas pedal is under my control. I just look at them whenever i decide to press the pedals
So you if GDP indicator and oscillator indicator conflict, which will you follow?
The market hides a perfect geometry.
113 traders viewing now