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  • #13,181
  • Jul 21, 2023 5:58pm Jul 21, 2023 5:58pm
Quoting SkullCandy
{quote} Today 2 stops. -2 RR, This weeks total 5RR, more than happy . Will be back on Monday, till then , will wish everyone happy weekend and take some rest, brains must rest too . Trade safe
Happy weekend to you too boss..
Okechukwu Jacob.C.
  • #13,182
  • Jul 21, 2023 6:19pm Jul 21, 2023 6:19pm
I had 4% profit this week but I have huge DD which I was trying to close at BE or minimal loss at the price of 1950 but price failed to break support. But this is part of trading , let’s see what happen next week. Happy weekend to all of you .
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Love for all; Hatred for none.
  • #13,183
  • Jul 21, 2023 9:43pm Jul 21, 2023 9:43pm
Quoting Zebi
heres a fun fact chart i made and posted this to an irc chatroom couple years ago when biden became president to counter the idiotic rhetoric by some knuckleheads in the room that biden will kill the dollar LOL...we argued politics after the close of trading every day LOL... only one that killed it was reagan but he's their saint so they dont blame him LOL lets keep politics out of it but democrats are good for the dollahhhh if biden could get 3 terms somehow he could prolly get it back to 150 LOL {image}

i made a reference to this chart earlier today answering mrfanciful

heres the original screenshot with the date on the upper left LOL

i should go back to that irc chat and rubb their noses in it..i love doing that to conservatives but especially to republicans
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short trump and go long the deepstate
  • #13,184
  • Edited 11:00pm Jul 21, 2023 10:12pm | Edited 11:00pm
For years I have been scalping the EURUSD on the M1 and have been succesful.
Now a couple of weeks been trying to do the same on this XAUUSD, but for some weird reason it is so tough!

Any pointers from any of the esteemed traders in this forum on how to manage this better???

It feels price moves up and down on a farth somehow, hahahaha.

Or maybe go for very small TPs? Like 21 pts. or so.
  • #13,185
  • Jul 22, 2023 2:02am Jul 22, 2023 2:02am
Quoting d1zzy
My sentiment - price took out yesterday's low. We retrace now (london manipulation) and resume downwards in a few hours and end the day in 50's. My opinion, trade safe. {quote} NFP reaction was knee jerk at its finest.
I was off by $2
  • #13,186
  • Jul 22, 2023 3:06am Jul 22, 2023 3:06am
Quoting Zebi
{quote} i made a reference to this chart earlier today answering mrfanciful heres the original screenshot with the date on the upper left LOL i should go back to that irc chat and rubb their noses in it..i love doing that to conservatives but especially to republicans {image}
For me.. more down i see on your chart.. May be new lower low..
Everything, what's meant to be will find its way
  • #13,187
  • Jul 22, 2023 3:13am Jul 22, 2023 3:13am
Quoting Freddyfx
For years I have been scalping the EURUSD on the M1 and have been succesful. Now a couple of weeks been trying to do the same on this XAUUSD, but for some weird reason it is so tough! Any pointers from any of the esteemed traders in this forum on how to manage this better??? It feels price moves up and down on a farth somehow, hahahaha. Or maybe go for very small TPs? Like 21 pts. or so.
What is your scalping strategy. Explain simply. Will tell you why it's not working on gold
Everything, what's meant to be will find its way
  • #13,188
  • Jul 22, 2023 3:39am Jul 22, 2023 3:39am
Quoting Zebi
{quote} i made a reference to this chart earlier today answering mrfanciful heres the original screenshot with the date on the upper left LOL i should go back to that irc chat and rubb their noses in it..i love doing that to conservatives but especially to republicans {image}
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Everything, what's meant to be will find its way
  • #13,189
  • Jul 22, 2023 4:54am Jul 22, 2023 4:54am
Quoting Freddyfx
For years I have been scalping the EURUSD on the M1 and have been succesful. Now a couple of weeks been trying to do the same on this XAUUSD, but for some weird reason it is so tough! Any pointers from any of the esteemed traders in this forum on how to manage this better??? It feels price moves up and down on a farth somehow, hahahaha. Or maybe go for very small TPs? Like 21 pts. or so.
It's the high volatility in the market. Gold is more news/event driven than any other pair out there. It's basically a traders market it's not regulated by governments or central banks, it's more like a free for all market. Anyone can move it. Since it's considered a safe haven asset, it's very much driven by news/global events and such hence the high volatility. TA is more often than not thrown out the window, it's mostly traded on bias/risk sentiments.

You would have noticed on Friday how so many bulls were freaking out, many were going long and getting stopped out? Market was bullish up until that day but it changed on a sessions notice when JPY news broke out, lot of traders missed it (DXY direction did point to bearish gold up until that moment though) many traders were hoping for upwards momentum to resume but the market simply took a u turn and stopped everyone out, such is the volatility of gold.

Personally I doubt anyone can tell you how much you should risk how much your profit targets should be. I suggest you stick to the lower timeframes 1M/5M/15M for the moment, find liquidity levels on maybe 5M chart for you TP's until you get the hang of gold's volatility. Good luck!
  • #13,190
  • Jul 22, 2023 6:50am Jul 22, 2023 6:50am
Quoting Tuyettinhcoc
Daily: Pivot line still Up {image}
Hit Pivot line and reversal
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  • #13,191
  • Jul 22, 2023 7:42am Jul 22, 2023 7:42am
Is this reliable? Anyone give me clarification pls.
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  • #13,192
  • Jul 22, 2023 11:26am Jul 22, 2023 11:26am
Quoting saisadhan
Hi, can I use the (MA) of 200, 50, and 9 for swing trading? Please advise; I am new and struggling to understand charts patterns

if youre so green you dont know enough about ma's you should definitely stop trading and do some learning youre guaranteed to blow up youe first account thats just the way it is however youll be able to hang in longer before you do so if you educate yourself first.

dont follow some goofball on a website or youtube or even people in here unless they post their trades to back up their analysis and then dont try piggybacking them without reverse engineering what it is they do if they dont want to tell you when you ask them

theres tens of thousands of good analysts even on this site but just a handfull of good traders LOL

and if youre in this much hurry you must be buying challenges at prop firms which means you'll probably lose even more money

you picked a profession thats the hardest way to make easy money

learn a trade or become a lawyer/docter cause chances are youll never make it trading cause youre so impatient you havent even learned the basics
short trump and go long the deepstate
  • #13,193
  • Edited 11:49am Jul 22, 2023 11:32am | Edited 11:49am
Quoting saisadhan
Is this reliable? Anyone give me clarification pls. {image}

why dont you try to tell us if hes reliable...if what he says makes sense
promise we wont laugh

nobodies gona help you if we dont see you trying to help yourself
short trump and go long the deepstate
  • #13,194
  • Jul 22, 2023 12:20pm Jul 22, 2023 12:20pm
Quoting saisadhan
Is this reliable? Anyone give me clarification pls. {image}
looks all levels are perfect as wess saw them playing . 1956 good support , but not better than 1948 if Head and shoulder in intension and lower towards 138 . though expecting correction up or new high but after a top failure more correction possible this leg down direct or next time .
any way it was a good analysis ! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #13,195
  • Jul 22, 2023 12:49pm Jul 22, 2023 12:49pm
Quoting Zebi
{quote} if youre so green you dont know enough about ma's you should definitely stop trading and do some learning youre guaranteed to blow up youe first account thats just the way it is however youll be able to hang in longer before you do so if you educate yourself first. dont follow some goofball on a website or youtube or even people in here unless they post their trades to back up their analysis and then dont try piggybacking them without reverse engineering what it is they do if they dont want to tell you when you ask them theres...
Thanks for the advice, brother. I am an engineer and my job pays me well. Recently, I made the decision to buy a home using my hard-earned money of $120,000. However, I later realized it was a foolish decision to exhaust all my savings on a single property. Now, at 27 years old, I want to invest a portion of my income from my profession. Trading has always intrigued me, and I'm giving it a try for the first time. I started with $200 and managed to make a $208 profit despite a $40 loss. Encouraged by this, I invested an additional $700 and took a sell position at 1956 in the gold market. As you can see, I'm still learning about trading. Although $1,100 isn't a huge amount for me, I'm taking it seriously. I tried paper trading, but it didn't provide me with the knowledge or seriousness I needed.

I will take your advice seriously and make an effort to learn.
  • #13,196
  • Jul 22, 2023 1:02pm Jul 22, 2023 1:02pm
Quoting Zebi
{quote} why dont you try to tell us if hes reliable...if what he says makes sense promise we wont laugh nobodies gona help you if we dont see you trying to help yourself
Hey there, I'm all about learning and getting better at this trading stuff. I don't fall for scams I dont know whom your mentioning? but its came from my trading platform Technical analysis something, I just started my trading account on June 17th, and I'm really digging into it. Reading books, watching other traders, studying those patterns, and trying to be learn about risk management.
I even posted a screenshot from my trading platform, and I gotta say, I'm curious what you experienced traders make of it. Seriously, don't hold back! I can take it, even if you laugh at my newbie moves. I'm here to learn and grow, so any advice on what I might be doing wrong is totally welcome
  • #13,197
  • Jul 22, 2023 1:11pm Jul 22, 2023 1:11pm
Quoting fontu
{quote} looks all levels are perfect as wess saw them playing . 1956 good support , but not better than 1948 if Head and shoulder in intension and lower towards 138 . though expecting correction up or new high but after a top failure more correction possible this leg down direct or next time . any way it was a good analysis! take care {image}
It's not mine or any person I know of. it's autogenerated from my trading platform I think.. just need advice from guys like you so i know am going on the right path. thank for you your suggestion.
  • #13,198
  • Jul 22, 2023 3:41pm Jul 22, 2023 3:41pm
Quoting d1zzy
{quote} It's the high volatility in the market. Gold is more news/event driven than any other pair out there. It's basically a traders market it's not regulated by governments or central banks, it's more like a free for all market. Anyone can move it. Since it's considered a safe haven asset, it's very much driven by news/global events and such hence the high volatility. TA is more often than not thrown out the window, it's mostly traded on bias/risk sentiments. You would have noticed on Friday how so many bulls were freaking out, many were going...
THANK YOU VERY MUCH for your explanation !!
Will find a way to tame this beast, it is that sudden change of direction I need to catch better.
  • #13,199
  • Jul 22, 2023 4:32pm Jul 22, 2023 4:32pm
You guys ready for the Crypto and Gold collapse? Should be fun to watch!
Trade at your own risk.
  • #13,200
  • Jul 22, 2023 11:35pm Jul 22, 2023 11:35pm
Hi guys,
here are my thoughts on Gold on daily the chart.

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