Gold Mining - Using Each Trading Day's Trend | Page 179 | Metals Mine

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Gold Mining - Using Each Trading Day's Trend

  • #3,561
  • Oct 2, 2020 6:23am Oct 2, 2020 6:23am
Good morning all. I am watching 1909. if we get a nice close above will buy 1909 with tp for runners at 1924, and scalpers at 1912. sl will be 1904.

if price gets a nice close below 1904 then I will short this area down to 1900/1898. sl will be 1907
  • #3,562
  • Oct 3, 2020 4:08pm Oct 3, 2020 4:08pm
Observation and Conclusion
Upon close observation of my ATF, I have come to the conclusion of the following...
It has two kinds of losses,
i. Hits stop loss and reverses in the original direction of the order.(Happens twice a week at most)
ii. Hits stop loss and continues in the opposite direction of the order.(Happens ones a week)
Action for next week.
I will cut loss by placing two limit orders each for short and long-this deals with loss i. Then only loss ii will be effective - this is a run away market.
*Rules on page 1, first post still stands, if one order is filled, the other one is cancelled.

A pro trader once said... cut loss, cut loss, cut loss
We Stay Alive
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  • #3,563
  • Oct 3, 2020 4:14pm Oct 3, 2020 4:14pm
Observation
My ATF has intraday levels that comes up every six hours.
Traded it on my live on Friday. Looked good.
Looking foward to it next week.
When it's concluded, it will be out for you guys as always.

BiteFX
Learn... Work Hard... Trade Alone
  • #3,564
  • Oct 4, 2020 7:00pm Oct 4, 2020 7:00pm
Trade Idea - ATF
As on the trade explorer.
Two limit orders each. Same rules apply.
*Some market retracement are deeper than others in terms of buying. While others are higher than others in terms of selling.
We stay Alive
Happy New Week
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  • #3,565
  • Oct 4, 2020 7:05pm Oct 4, 2020 7:05pm
Quoting BiteFX
Trade Idea - ATF As on the trade explorer. Two limit orders each. Same rules apply. *Some market retracement are deeper than others in terms of buying. While others are higher than others in terms of selling. We stay Alive Happy New Week
This is a more aggressive way of trading my ATF.
Learn... Work Hard... Trade Alone
  • #3,566
  • Oct 4, 2020 7:18pm Oct 4, 2020 7:18pm
Quoting BiteFX
Observation and Conclusion Upon close observation of my ATF, I have come to the conclusion of the following... It has two kinds of losses, i. Hits stop loss and reverses in the original direction of the order.(Happens twice a week at most) ii. Hits stop loss and continues in the opposite direction of the order.(Happens ones a week) Action for next week. I will cut loss by placing two limit orders each for short and long-this deals with loss i. Then only loss ii will be effective - this is a run away market....
We have taken care of stop loss i using this approach this week.
And even if stop loss ii shows up three times, we'll still close this week with a profit.*the only loss we'll have is if it shows up four or five times-this is also a probability* But it's as difficult as finding a 7 in a cast of a single die.
Learn... Work Hard... Trade Alone
  • #3,567
  • Oct 4, 2020 7:24pm Oct 4, 2020 7:24pm
*Don't forget* there is a probability distribution of no trade day(s) too in a week. So, we are not trigger-happy.
We just Let the market do it's thing...
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  • #3,568
  • Oct 4, 2020 8:42pm Oct 4, 2020 8:42pm
Happy new week all. so im watching 1903 and 1898

Nice close below 1898 will open us up to 1890 first potentially 1876 if 1890 fails to act as support. sl will be 1904 for this trade.
Nice close above 1903 will open us up to 1915 area 1st and potentially 1932 if 1915 fails to act as resistance. sl for this trade would be 1897.
  • #3,569
  • Oct 4, 2020 11:06pm Oct 4, 2020 11:06pm
Quoting BiteFX
{quote} We have taken care of stop loss i using this approach this week. And even if stop loss ii shows up three times, we'll still close this week with a profit.*the only loss we'll have is if it shows up four or five times-this is also a probability* But it's as difficult as finding a 7 in a cast of a single die.
Let's see if today is one of those days. Or we're coming out alive.
No emotions attached, just trading based on my ATF probability distribution to make some profits.
Learn... Work Hard... Trade Alone
  • #3,570
  • Oct 4, 2020 11:09pm Oct 4, 2020 11:09pm
Quoting BiteFX
{quote} Let's see if today is one of those days. Or we're coming out alive. No emotions attached, just trading based on my ATF probability distribution to make some profits.
All trades are random events and have random outcomes.~Mark Douglas.
Learn... Work Hard... Trade Alone
  • #3,571
  • Oct 4, 2020 11:33pm Oct 4, 2020 11:33pm
Alright, do the maths.
*We lose 3 of these trades in a week=9% on equity.
*We win 2 of these trades in a week=14.16% on equity.
*We close with profit=5.16% on equity.
Simple!
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  • #3,572
  • Oct 5, 2020 2:17am Oct 5, 2020 2:17am
Alright,
2 Stop losses hit today.
We await tomorrow's parameters.
Today is that stop loss ii I talked about last week.
We Stay Alive
Learn... Work Hard... Trade Alone
  • #3,573
  • Oct 5, 2020 3:12am Oct 5, 2020 3:12am
Good morning to all.

I am watching 1891.12
If price finds it as a support then buy there (price is currently above it and I expect price to retest it).
First resistance is at 1899.77 from where I expect slight pullback down to 1895.55 and buy up to 1910.83

If price can't hold 1891.12 then sell down to 1882.74 where I will watch PA.
Always expect unexpected.
  • #3,574
  • Oct 5, 2020 11:27am Oct 5, 2020 11:27am
Quoting Skoljkica
Good morning to all. I am watching 1891.12 If price finds it as a support then buy there (price is currently above it and I expect price to retest it). First resistance is at 1899.77 from where I expect slight pullback down to 1895.55 and buy up to 1910.83 If price can't hold 1891.12 then sell down to 1882.74 where I will watch PA.
great analysis brother
  • #3,575
  • Oct 5, 2020 6:28pm Oct 5, 2020 6:28pm
Trade Idea - ATF
Limit orders as on the explorer.
Same simple rules as on first post on page1 of this thread.
We Stay Alive
Learn... Work Hard... Trade Alone
  • #3,576
  • Oct 5, 2020 10:07pm Oct 5, 2020 10:07pm
Observation
Market has moved from limit orders to stop orders.
My ATF intraday levels are playing nicely.
Will add it up soonest as a confluence for entries.
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  • #3,577
  • Oct 6, 2020 2:40am Oct 6, 2020 2:40am
Good morning to all.

I am expecting pullback on gold down to 1905.06 where I will place buy order.
First target 1916.42
Second target 1921.31

Possible pullback from 1921.42 down to 1916.42
If buy continues my next target will be 1927.49
Always expect unexpected.
  • #3,578
  • Oct 6, 2020 7:34am Oct 6, 2020 7:34am
Gold eyeing 1935.72
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  • #3,579
  • Oct 6, 2020 11:02am Oct 6, 2020 11:02am
Whaaaaaaaat!!!
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  • #3,580
  • Oct 6, 2020 11:35am Oct 6, 2020 11:35am
Quoting BiteFX
Whaaaaaaaat!!!
Not yet, it had a good bounce from the 1900
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