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Gold Mining - Using Each Trading Day's Trend

  • #421
  • Mar 12, 2020 1:23pm Mar 12, 2020 1:23pm
Quoting BiteFX
{quote} How many pips did you get?
I caught about $15 of the drop, so is that 150 pips for gold? Wanted to get in again, but it never pulled back enough. Ive got a bit of a messed up trading strategy that I need to change, I have the stop loss of a swing trader and a take profit of a scalper.
  • #422
  • Mar 12, 2020 1:25pm Mar 12, 2020 1:25pm
Quoting Sluggazn
{quote} I caught about $15 of the drop, so is that 150 pips for gold? Wanted to get in again, but it never pulled back enough. Ive got a bit of a messed up trading strategy that I need to change, I have the stop loss of a swing trader and a take profit of a scalper.
Yes, you're correct 150pips.
Learn... Work Hard... Trade Alone
  • #423
  • Mar 12, 2020 1:27pm Mar 12, 2020 1:27pm
Quoting Sluggazn
{quote} I caught about $15 of the drop, so is that 150 pips for gold? Wanted to get in again, but it never pulled back enough. Ive got a bit of a messed up trading strategy that I need to change, I have the stop loss of a swing trader and a take profit of a scalper.
This was one of the reasons I began to study to find a strategy that can help me stay longer in trades...With at least 1R=1R, or 1R=2R trades.
I think I have found it.
And will keep on sharing these thoughts with you guys.
Learn... Work Hard... Trade Alone
  • #424
  • Mar 12, 2020 1:29pm Mar 12, 2020 1:29pm
Quoting Sluggazn
{quote} I caught about $15 of the drop, so is that 150 pips for gold? Wanted to get in again, but it never pulled back enough. Ive got a bit of a messed up trading strategy that I need to change, I have the stop loss of a swing trader and a take profit of a scalper.
You did a great job brother. 150pips is not bad for a scalp.
Learn... Work Hard... Trade Alone
  • #425
  • Mar 12, 2020 1:30pm Mar 12, 2020 1:30pm
Quoting BiteFX
{quote} This was one of the reasons I began to study to find a strategy that can help me stay longer in trades...With at least 1R=1R, or 1R=2R trades. I think I have found it. And will keep on sharing these thoughts with you guys.
I use camarilla, and I find that has helped me a lot for entry, but I still want to work on my exit
  • #426
  • Mar 12, 2020 1:31pm Mar 12, 2020 1:31pm
Quoting BiteFX
{quote} This was one of the reasons I began to study to find a strategy that can help me stay longer in trades...With at least 1R=1R, or 1R=2R trades. I think I have found it. And will keep on sharing these thoughts with you guys.
But, I know I am always wrong until the market price says am right.
Learn... Work Hard... Trade Alone
  • #427
  • Mar 12, 2020 1:35pm Mar 12, 2020 1:35pm
Quoting Sluggazn
{quote} I use camarilla, and I find that has helped me a lot for entry, but I still want to work on my exit
I only want to suggest that you download my Gold Mine template from 1st post, 1st page.
I will always post the set up every trading day when my broker opens the market...those levels can serve as your exit strategy if you please...You may use it as a side window on your PC.
Learn... Work Hard... Trade Alone
  • #428
  • Mar 12, 2020 1:39pm Mar 12, 2020 1:39pm
Quoting BiteFX
{quote} I only want to suggest that you download my Gold Mine template from 1st post, 1st page. I will always post the set up every trading day when my broker opens the market...those levels can serve as your exit strategy if you please...You may use it as a side window on your PC.
We are all here to mine gold together.
Learn... Work Hard... Trade Alone
  • #429
  • Mar 12, 2020 1:42pm Mar 12, 2020 1:42pm
Quoting BiteFX
{quote} But, I know I am always wrong until the market price says am right.
That's where i battle with your strategy, the wide sl is daunting, and I have a small account, so a big loss hurts me a lot. Ive always been a tight sl trader, but I'm developing more faith in your strategy, and with that comes more comfort in bigger draw down
  • #430
  • Mar 12, 2020 1:48pm Mar 12, 2020 1:48pm
Quoting BiteFX
{quote} I only want to suggest that you download my Gold Mine template from 1st post, 1st page. I will always post the set up every trading day when my broker opens the market...those levels can serve as your exit strategy if you please...You may use it as a side window on your PC.
I'm on the road most of the day, so im 90% a mobile trader. But I will be drawing your levels in on my chart. Most of the time your levels are close to mine, but you have less, and I think that's crucial to your strategy. Im using daily, weekly, amd monthly cam points, and I lack the experience of which point to cash out at.
  • #431
  • Mar 12, 2020 1:51pm Mar 12, 2020 1:51pm
Quoting Sluggazn
{quote} That's where i battle with your strategy, the wide sl is daunting, and I have a small account, so a big loss hurts me a lot. Ive always been a tight sl trader, but I'm developing more faith in your strategy, and with that comes more comfort in bigger draw down
I worked on something earlier today, about risk management. I will share it on Saturday when we have no trades running. You will love it.
Learn... Work Hard... Trade Alone
  • #432
  • Mar 12, 2020 1:51pm Mar 12, 2020 1:51pm
Quoting Sluggazn
{quote} I'm on the road most of the day, so im 90% a mobile trader. But I will be drawing your levels in on my chart. Most of the time your levels are close to mine, but you have less, and I think that's crucial to your strategy. Im using daily, weekly, amd monthly cam points, and I lack the experience of which point to cash out at.
Don't know if I attached the image correctly. See how messy this is. But see how it reacted to those levels.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture+_2020-03-12-20-49-55.png Size: 483 KB
  • #433
  • Mar 12, 2020 2:00pm Mar 12, 2020 2:00pm
Quoting Sluggazn
{quote} I'm on the road most of the day, so im 90% a mobile trader. But I will be drawing your levels in on my chart. Most of the time your levels are close to mine, but you have less, and I think that's crucial to your strategy. Im using daily, weekly, amd monthly cam points, and I lack the experience of which point to cash out at.
Ouk...Let me show you how to put my template on your phone. Most times if you observe, I upload phone images...They are the same with my PC's. Because , I do movements too.
.
*On your PC, ctrl B opens object list.
*On your phone MT4, go to add objects, add 3 different Fibonacci Retracements.
*Then use the configuration in that my template on your PC to set them up.
Learn... Work Hard... Trade Alone
  • #434
  • Mar 12, 2020 2:09pm Mar 12, 2020 2:09pm
Quoting BiteFX
{quote} Ouk...Let me show you how to put my template on your phone. Most times if you observe, I upload phone images...They are the same with my PC's. Because , I do movements too. . *On your PC, ctrl B opens object list. *On your phone MT4, go to add objects, add 3 different Fibonacci Retracements. *Then use the configuration in that my template on your PC to set them up.
Ah ok, shot. Will try that out tomorrow
  • #435
  • Mar 12, 2020 5:38pm Mar 12, 2020 5:38pm
Friday March 13, 2020.
Yesterday stubborn bulls were eaten for lunch and dinner.
Having said that,

Today is a very wide day. And HIGHLY DECEPTIVE.
Green trendlines pointing downwards sharply, and Red trend lines pointing downwards in a broadening formation. This has a Bearish implication.
But, I am also thinking that the Bulls may want to have a fight back.

As a note, after a very strong trend day, market may choose to range the next day...


So, seeing market price in a midway between P and S according to my chart analysis,
Trade Idea... Looking to sell P-1604.97 with stop loss at R-1663.30. OR Buy S-1546.64 with stop loss at B-1474.54. (Limit Orders).

Which ever is activated first, I will close the other without being activated.

I Stay Alive for the last trading day of the week.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200312_231616_009.jpg Size: 79 KB
Learn... Work Hard... Trade Alone
  • #436
  • Mar 12, 2020 5:46pm Mar 12, 2020 5:46pm
Quoting BiteFX
Friday March 13, 2020. Yesterday stubborn bulls were eaten for lunch and dinner. Having said that, Today is a very wide day. And HIGHLY DECEPTIVE. Green trendlines pointing downwards sharply, and Red trend lines pointing downwards in a broadening formation. This has a Bearish implication. But, I am also thinking that the Bulls may want to have a fight back. As a note, after a very strong trend day, market may choose to range the next day... So, seeing market price in a midway between P and S according to my chart analysis, Trade Idea... Looking...
Back Testing of my trading system has shown me that, in some days, Orders will not be filled, not, may not be filled through out the trading day.
This may be one of those trading days.

Quoting BiteFX
{quote} Back Testing of my trading system has shown me that, in some days, Orders will not be filled, not, may not be filled through out the trading day. This may be one of those trading days.
Please, today should be one of those days ooo...
This stop loss is really really wide and killing o.

I Want To Stay Alive.
Learn... Work Hard... Trade Alone
  • #437
  • Mar 12, 2020 5:52pm Mar 12, 2020 5:52pm
Fibonacci Parameters.
BEARISH FIBO-1663.295, 1545.635
BULLISH FIBO-1546.635, 1663.295
PIVOT-1604.97

Download template from 1st page, 1st post.
Learn... Work Hard... Trade Alone
  • #438
  • Mar 12, 2020 6:22pm Mar 12, 2020 6:22pm
My weekly cam levels line up pretty well to your levels. But today is not the day I follow your exact strategy, I cant handle 600 to 700 pips loss if the market proves you are wrong. I think today will be a scalping day, I wish to stay alive
Attached Image (click to enlarge)
Click to Enlarge Name: Capture+_2020-03-13-01-11-27.png Size: 414 KB
  • #439
  • Mar 12, 2020 6:25pm Mar 12, 2020 6:25pm
Quoting Sluggazn
My weekly cam levels line up pretty well to your levels. But today is not the day I follow your exact strategy, I cant handle 600 to 700 pips loss if the market proves you are wrong. I think today will be a scalping day, I wish to stay alive {image}
Sorry, combination of weekly and monthly
Attached Image (click to enlarge)
Click to Enlarge Name: Capture+_2020-03-13-01-24-30.png Size: 465 KB
  • #440
  • Mar 12, 2020 10:57pm Mar 12, 2020 10:57pm
Quoting Sluggazn
My weekly cam levels line up pretty well to your levels. But today is not the day I follow your exact strategy, I cant handle 600 to 700 pips loss if the market proves you are wrong. I think today will be a scalping day, I wish to stay alive {image}
Lol...
From Back Testing, I have seen that, if such trades are not activated, that day becomes a key signal set up day fof a finner move the next day.
Learn... Work Hard... Trade Alone
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