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

  • #43,101
  • Edited 3:09pm Aug 25, 2017 2:57pm | Edited 3:09pm
Quoting Pfine
{quote} Great work! What indi are you using.?
The Eyes of Brain Indicator and Trade Control Tool.
Forex; the game of movements not the game of candles.
  • #43,102
  • Aug 25, 2017 4:02pm Aug 25, 2017 4:02pm
Quoting Sajid
{quote} A little hard work, a little luck, a little hedging, a little money management. A blend of all these tiny inclusions made this the best ever trading week for me. {image}
Wow...i like this picture...
Fundametal is the Trigger....
  • #43,103
  • Aug 25, 2017 6:31pm Aug 25, 2017 6:31pm
Quoting Sajid
{quote} A little hard work, a little luck, a little hedging, a little money management. A blend of all these tiny inclusions made this the best ever trading week for me. {image}
That is a decent amount of profitable trades there man. Nice work! What's your background?
  • #43,104
  • Aug 25, 2017 7:36pm Aug 25, 2017 7:36pm
Quoting Sajid
{quote} A little hard work, a little luck, a little hedging, a little money management. A blend of all these tiny inclusions made this the best ever trading week for me. {image}
Very good. If its not demo.
  • #43,105
  • Aug 25, 2017 9:04pm Aug 25, 2017 9:04pm
Quoting Sajid
{quote} The Eyes of Brain Indicator and Trade Control Tool.
I see exactly what your strategy is via that trade history. Not bad at all imo.
It's like a game of baseball. Most are striking out trying to hit home runs.
You're simply loading the bases and bringing them in, one by one.

Well done!
Trade with confidence, trade without fear.
  • #43,106
  • Aug 25, 2017 11:38pm Aug 25, 2017 11:38pm
Quoting SunTrader
{quote} Very good. If its not demo.
Nice one suntrader
Ngono yo ngono, neng ojo ngono - Unknown
  • #43,107
  • Aug 26, 2017 12:42am Aug 26, 2017 12:42am
North Korea fires three missiles into sea
http://www.bbc.com/news/world-asia-41058152
  • #43,108
  • Edited 7:28am Aug 26, 2017 7:12am | Edited 7:28am
Quoting LAgoldeuro
{quote} That is a decent amount of profitable trades there man. Nice work! What's your background?
Thanks. What you mean by background? I am an IT Engineer . Till yesterday, i was at this post but now resigned and will join my new job between 15 September to 20 September in my own country.
Forex; the game of movements not the game of candles.
  • #43,109
  • Aug 26, 2017 7:14am Aug 26, 2017 7:14am
Quoting SunTrader
{quote} Very good. If its not demo.
Brother Its not demo. Real money but i do trade it like demo money because I loose most of the time because of quick decisions and emotions but since Jan 2017, I started trading with this assumption and so far so good.
Forex; the game of movements not the game of candles.
  • #43,110
  • Aug 26, 2017 7:21am Aug 26, 2017 7:21am
Quoting Cryptosurf
{quote} I see exactly what your strategy is via that trade history. Not bad at all imo. It's like a game of baseball. Most are striking out trying to hit home runs. You're simply loading the bases and bringing them in, one by one. Well done!
Brother, You can see the trades of 130 pips, 200 pips and so on. Do you think its hit home run policy? Rest you are correct. I don't afraid buying bottoms and selling TOPS , buying TOPs and Selling Bottom provided (i) fundamentals are in my favor (ii) I am landing my foot in market on correct time (iii) Participating momentum if volume is holding and there are reasons in market that the volume will hold.
You can see all my trades in one particular direction. All against USD. BUY Gold, GBPUSD and NZDUSD, Sell USDJPY,USDCAD . That's it.
Forex; the game of movements not the game of candles.
  • #43,111
  • Aug 26, 2017 8:22am Aug 26, 2017 8:22am
Quoting Sajid
{quote} Brother, You can see the trades of 130 pips, 200 pips and so on. Do you think its hit home run policy? Rest you are correct. I don't afraid buying bottoms and selling TOPS , buying TOPs and Selling Bottom provided (i) fundamentals are in my favor (ii) I am landing my foot in market on correct time (iii) Participating momentum if volume is holding and there are reasons in market that the volume will hold. You can see all my trades in one particular direction. All against USD. BUY Gold, GBPUSD and NZDUSD, Sell USDJPY,USDCAD . That's it.
What I meant was: most other traders are striking out trying to hit home runs versus what you were doing. Your strategy appears more methodical.

I did not word it correctly.
Trade with confidence, trade without fear.
  • #43,112
  • Aug 26, 2017 9:42am Aug 26, 2017 9:42am
Quoting Cryptosurf
{quote} What I meant was: most other traders are striking out trying to hit home runs versus what you were doing. Your strategy appears more methodical. I did not word it correctly.
I add to trades unless i believe I am not correct and SRs are not turning against me.
Forex; the game of movements not the game of candles.
  • #43,113
  • Aug 26, 2017 10:11am Aug 26, 2017 10:11am
Quoting Sajid
{quote} I add to trades unless i believe I am not correct and SRs are not turning against me.
Ok nice, what TF's are you looking at mostly?
Trade with confidence, trade without fear.
  • #43,114
  • Edited 11:42am Aug 26, 2017 10:14am | Edited 11:42am
Quoting Sajid
{quote} A little hard work, a little luck, a little hedging, a little money management. A blend of all these tiny inclusions made this the best ever trading week for me. {image}
hi,sajid. what are your money management and style trader ? i see you have not setting stoploss.
  • #43,115
  • Edited 3:05pm Aug 26, 2017 2:26pm | Edited 3:05pm
Quoting Cryptosurf
{quote} Ok nice, what TF's are you looking at mostly?
Dear Brother , No particular TF. Normally Daily, H4 and fundamentals (most recent) for direction, M15 to spot entry prices and upcoming Fundamentals releases to optimize trades output.
While trading, I keep following assumptions in mind. Weather these assumptions are true or not needs a long debate but till now I am getting full profits of it.

(i) Tokyo session traders are trend setter traders. The daily trend they set for AUD and JPY pairs will continue till NY close with slight retracements in London and Longer retracements in NY. I strictly follow this assumption unless until there is major fundamentals release during London and NY sessions for these currencies pairs.

(ii) London session bring scary traders into market. They normally don't participate in breakouts. They mostly respect major support and resistance levels. Provided that there is no major fundamental release during London.

(iii) NY Session bring greedy and more powerful traders into market who can influence the market. Mostly the movements generated in first two hours of NY session are fake especially for non-USD pairs. At the end of the day, the movements will have to correct its direction to direction followed earlier in Tokyo and London sessions.

(iv) If GBP got weaker in London then NY session will make it more and more weak after generating retracements in earlier hours of NY session. And next day, this trend will continue unless until there is no fundamental release during these.

(v) Point 4 stands true also for USD if USD got weaker in NY session against AUD and JPY, Next day in Tokyo session/London, the same trend will continue with slight retracements.

(vi) Give your trades longer life. Keep your profits running.

This is my trading paradigm. Some may agree to it and some may disagree to it. But whatever, Its providing its worth to me.
Forex; the game of movements not the game of candles.
  • #43,116
  • Edited 3:15pm Aug 26, 2017 3:02pm | Edited 3:15pm
Quoting 20pip
{quote} hi,sajid. what are your money management and style trader ? i see you have not setting stoploss.
Use of SL depends upon time I am activating the trade. But most of the times, I do not book any hard coded SL with broker. I keep my SL in my hands. I based the acceptance of Loss on Closures and volume of H4 /Daily Candles against support resistance levels. Some people may argue here on this but out of 100 times , 99 times this approach give me more profits and better loss recovery opportunities rather letting the market to kick me out of market while I love to remain in market as much as i can mentally accommodate. If there is some major release like rate decisions, NFP etc then I try to avoid /minimize my exposure.

Regarding Profits, I am using an Excel sheet to remind me my goals every day. I have a goal to reach 6000000 USD with 1000 USD starting balance. In initial planning, i was requiring 440 days with 2% growth daily to reach the target figure. Then changed to 5% weekly and according to this plan, i was supposed to reach my goal within 179 weeks. But as time goes on , I realized that setting your daily or weekly (whatever , smaller or larger) is not realistic. With a fixed percentage in mind, sometimes you will be wrongly fighting with market to achieve the target and sometimes, you may be lowering the opportunities offered by the market. Now i changed my plan to growth per strike on market rather daily or weekly growth. 2% growth per strike. This way, i will need 440 successful strikes on market to reach my destination. I don't base the trades closure on achievement of 2% growth per strike on market necessarily. This way, I am not bound to follow a time routine and feeling more free and relax. A strike can complete in a day or a week. But a day or a week can also give me more strikes. When i make profits/losses, I just open the Excel and check how many strikes i have completed. Till now, I have completed 121 successful strikes on market. So i am more than 25% done and it took me 4 months.

I don't know , I will be able to handle this mentally or not as the equity grows but this is my current plan. The moment i feel that i can't handle mentally , i will restart the journey.
For you interest, i am attaching the sheet. You can replace the word "day" with strike.
Attached File(s)
File Type: xlsx DailyTarget.xlsx   122 KB | 676 downloads
Forex; the game of movements not the game of candles.
  • #43,117
  • Aug 26, 2017 8:51pm Aug 26, 2017 8:51pm
Thanks Sajid for your responses. They were very insightful.
Trade with confidence, trade without fear.
  • #43,118
  • Aug 27, 2017 12:41am Aug 27, 2017 12:41am
Quoting Sajid
{quote} Use of SL depends upon time I am activating the trade. But most of the times, I do not book any hard coded SL with broker. I keep my SL in my hands. I based the acceptance of Loss on Closures and volume of H4 /Daily Candles against support resistance levels. Some people may argue here on this but out of 100 times , 99 times this approach give me more profits and better loss recovery opportunities rather letting the market to kick me out of market while I love to remain in market as much as i can mentally accommodate. If there is some major...
i have no idea. Anyway, thank you for sharing
  • #43,119
  • Aug 27, 2017 3:44am Aug 27, 2017 3:44am
Quoting Sajid
{quote} Use of SL depends upon time I am activating the trade. But most of the times, I do not book any hard coded SL with broker. I keep my SL in my hands. I based the acceptance of Loss on Closures and volume of H4 /Daily Candles against support resistance levels. Some people may argue here on this but out of 100 times , 99 times this approach give me more profits and better loss recovery opportunities rather letting the market to kick me out of market while I love to remain in market as much as i can mentally accommodate. If there is some major...
Thanks for your post. I have many of the same ideas for one of my accounts.

I trade 0.01 lots per 500 US balance (500:1 account). So if I have 1000 US I have an expert advisor that will open trades with 0.02 lots. I have a fixed TP of a 1$ move. That's 2 US per trade with 1000 US account, and my daily goal is 10 winners a day. It doesn't sounds so much of a profit but it grows exponentially over time (because of the 0.01 lot per 500 US in account).

The history you shared from last week shows that you can do it, but if I could give you some advice it would be to figure out how to reduce risk as your account grows. I mean, in two years time, do you really need to make 120.000 US a day?
Charts: XAUUSD/UJ/EU. Tools: stoch/daily pivots/fibo/channels. Scalper.
  • #43,120
  • Aug 27, 2017 5:39am Aug 27, 2017 5:39am
Quoting jorgen.fx
{quote} Thanks for your post. I have many of the same ideas for one of my accounts. I trade 0.01 lots per 500 US balance (500:1 account). So if I have 1000 US I have an expert advisor that will open trades with 0.02 lots. I have a fixed TP of a 1$ move. That's 2 US per trade with 1000 US account, and my daily goal is 10 winners a day. It doesn't sounds so much of a profit but it grows exponentially over time (because of the 0.01 lot per 500 US in account). The history you shared from last week shows that you can do it, but if I could give you some...
Welcome brother. Waiting for your suggestion.
Forex; the game of movements not the game of candles.
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