Gold | Page 2332 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD

Attachments: Gold
Exit Attachments

Gold

  • #46,621
  • Oct 11, 2024 2:27pm Oct 11, 2024 2:27pm
It's super easy to pick up bad habits in trading, and god forbid if you happen to make some cash early on, it can be really tough to shake those habits later. Even if you do manage to control them, which is no small feat, when stress hits or things go south in your personal or trading life, your brain tends to hijack your mind abd try to revert back to those old habits. It’s like being on autopilot, and before you know it, you’re heading straight for trouble. So, be mindful of how mistakes can turn into habits. I’ve got my fair share of them too.a lot of them for fact , for example I use to struggled with the habit of moving my stop-loss, and although i think get rid of it now I’ve noticed that when I’m stressed or if I have a few bad trades in a row, my mind just wants to go back to that habit of changing my stop-loss.
So be carefull guys
  • #46,622
  • Oct 11, 2024 2:31pm Oct 11, 2024 2:31pm
Quoting Catempire
{quote} I was your age when I traded bitcoin in ‘13. Sounds like you’re ahead of me brother fucking good luck to ya man
Thanks a lot man Well i don't think im ahead of anyone, whenever i think that, the markets humble me very fast I started back in 2018 when i was 18 years old. Man what a rollercoaster it has been, both financially and mentally. I am just thankful that i have got come this far in my journey. Made many sacrifices and mistakes along the way. I feel like i have aged 5x faster in this last 6 years

Greenest pips to you
You have to have an IQ higher than 90 to interact with this user.
  • #46,623
  • Oct 11, 2024 2:39pm Oct 11, 2024 2:39pm
Yesterday off because of the CPI
back today to finish the week

Have a nice weekend everyone! keep the hard work everyone, at sometime it will come !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_20241011-213434.png Size: 119 KB
Click to Enlarge Name: Screenshot_20241011-213520.png Size: 120 KB
https://t.me/biogoldscalper
  • #46,624
  • Oct 11, 2024 2:51pm Oct 11, 2024 2:51pm
Quoting Isabella_D
Plan your trades https://www.forexfactory.com/thread/...3#post15024313 47 hr ago 2572-2650 https://www.forexfactory.com/thread/...8#post15025778 13 hr ago 2619? + pendings short from ... (tooked 2shorts ), closed former longs) https://www.forexfactory.com/thread/...1#post15025791 13 hr ago pendings 2670,2661,2654 https://www.forexfactory.com/thread/...1#post15026161 7 hr ago TrendLines see you
thanks so much, lady! enjoy a great weekend.
  • #46,625
  • Oct 11, 2024 2:52pm Oct 11, 2024 2:52pm
Quoting Nordling
{quote} Thanks a lot man Well i don't think im ahead of anyone, whenever i think that, the markets humble me very fast I started back in 2018 when i was 18 years old. Man what a rollercoaster it has been, both financially and mentally. I am just thankful that i have got come this far in my journey. Made many sacrifices and mistakes along the way. I feel like i have aged 5x faster in this last 6 years Greenest pips to you
Que Sera
  • #46,626
  • Oct 11, 2024 3:48pm Oct 11, 2024 3:48pm
This thing we call trading can definitely be one of the most brutal things you ever get into.....

Since we're sharing stories, I worked a shitty warehouse job paying minimum wage whilst trading, then for 2 months, everything changed, grew my account from 1000gbp to 50000gbp, i was on top of the world, I WAS IN MY EARLY 20'S AND never seen this much money in bank account, I felt rich. I wanted to make 100k and "retire". or at least give my body a short break from working all these dead jobs.....and then disaster striked, I lost it all

I don't know how i made it out of that mess, but I did.....so hopefully you guys can too, it's tough but hang in there !
  • #46,627
  • Oct 11, 2024 3:59pm Oct 11, 2024 3:59pm
Quoting shay14
This thing we call trading can definitely be one of the most brutal things you ever get into..... Since we're sharing stories, I worked a shitty warehouse job paying minimum wage whilst trading, then for 2 months, everything changed, grew my account from 1000gbp to 50000gbp, i was on top of the world, I WAS IN MY EARLY 20'S AND never seen this much money in bank account, I felt rich. I wanted to make 100k and "retire". or at least give my body a short break from working all these dead jobs.....and then disaster striked, I lost it all I don't know...
Sorry to hear that. Are you still trading? If yes then how could you recover your trauma? How did you motivate to start again? Please share with us as we can learn from you...
  • #46,628
  • Oct 11, 2024 4:29pm Oct 11, 2024 4:29pm
Quoting shay14
This thing we call trading can definitely be one of the most brutal things you ever get into..... Since we're sharing stories, I worked a shitty warehouse job paying minimum wage whilst trading, then for 2 months, everything changed, grew my account from 1000gbp to 50000gbp, i was on top of the world, I WAS IN MY EARLY 20'S AND never seen this much money in bank account, I felt rich. I wanted to make 100k and "retire". or at least give my body a short break from working all these dead jobs.....and then disaster striked, I lost it all I don't know...
loosing 1000gbp is not a trauma or even bad time. People here had lost 100000gbp or more, some finds out and recover, some dont.
People don't plan to lose. They lose because they don't plan.
  • #46,629
  • Oct 11, 2024 6:06pm Oct 11, 2024 6:06pm
Quoting ScalaFX
{quote} loosing 1000gbp is not a trauma or even bad time. People here had lost 100000gbp or more, some finds out and recover, some dont.
but taking 1k to 50k to lose it all
  • #46,630
  • Oct 11, 2024 10:37pm Oct 11, 2024 10:37pm
Usdx apparent situation , good tanking possible !

https://www.forexfactory.com/thread/...9#post15026739
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #46,631
  • Oct 12, 2024 2:17am Oct 12, 2024 2:17am
Quoting Interesting0
{quote} but taking 1k to 50k to lose it all
still risk was 1000 not 50000, I know that can hurt but he dont loose 50000 but 1000 thats the diffrence
People don't plan to lose. They lose because they don't plan.
  • #46,632
  • Oct 12, 2024 2:53am Oct 12, 2024 2:53am
--------------------
Last week Status : (+452pip,-95pip,-4pip,+85pip,-198pip) , Total: +240pip
Last week Win Ratio : 27/54 or %50
some point for me to consider:
------------------
it's better result than last 2 week , I must try to repeat similar result for next week
-------------------
although I had 50% win, rate but i made profit, it is show important of win a little more and lose a little less concept
-------------------
I have 2 winning day and 3 losing day, it is much better for me to at least I reverse this ratio .
------------------
for next week except for Monday I will try, not to trade Euro market hours ,most of my loss happen during euro hours last week.
-------------------
Last week, a few of my winning positions flipped to losses. I need to figure out a plan this week—maybe I should move my stop loss to break even once a position is in the green, or I could work on method to control my greed
  • #46,633
  • Oct 12, 2024 4:21am Oct 12, 2024 4:21am
Quoting sadsoul
Please need help. I am in severe depression and trauma ... i know it's not for many but it was my life saving and i took even lots of loan to safe the amount but i am now destroyed.. Please suggest me seniors and brothers.. i have been watching this forum for last 2 years... but now registered and posted 1st time please suggest me what to do. I am ruined. my life is ruined. please don't bash or make fun of my situation. Just tell me the next step now {image}
I think you should have reversed strategy. You have bettted against gold, where you should have betted pro gold.
I think your strategy of no SL, small size (low risk) can WORK. However, you should go long on gold instead of short. Buy deep dips (like this week´s) with low risk sizes and sit on your hands.

Everyone here is so convinced that SLs are a must, I am not so convinced.
if you play big size, SLs are necessary. But in this case you need to be very good (and I MEAN VERY) bc timing is so so hard.
Alternative is lower risk, with no SLS. Price tricks you out to reverse and hit you target so many times. it is a matter of waiting patiently for price to hit your target (again smaller size, controlled risk). Your SLs will not erode your account, and most of your trades would be +, though lower profits. Requirements are discipline and patience.
"The market is a device for transferring money from the impatient to the patient!"
  • #46,634
  • Oct 12, 2024 4:41am Oct 12, 2024 4:41am
Quoting JobsPatience
{quote} I think you should have reversed strategy. You have bettted against gold, where you should have betted pro gold. I think your strategy of no SL, small size (low risk) can WORK. However, you should go long on gold instead of short. Buy deep dips (like this week´s) with low risk sizes and sit on your hands. Everyone here is so convinced that SLs are a must, I am not so convinced. if you play big size, SLs are necessary. But in this case you need to be very good (and I MEAN VERY) bc timing is so so hard. Alternative is lower risk, with no SLS....
He has a gambling mindset, that's the problem. Whether if he was long and made money, he was going to lose it one day anyways. It will only delay the inevitable.

**********

Trading is not meant for everyone, especially for people who thinks trading will solve their financial problems. People who struggle with money should invest it, not trade it. Because trading is a game of probabilities, just like poker or blackjack. Who can afford to play those games? Those who can afford taking losses. So it's not meant for financially disadvantaged people. Trading will only cost them more, adding up to their money shortages. It's not worth the stress. Nor does it create good habits.

Unfortunately these newbies are the victims of the so called gurus promoting lambos and yachts on youtube while they only make money selling courses.

As a trader who makes a living, i have no lambos, no yachts and i pretty much make what an average person makes by working at a 9-5 job. Its really not worth the stress. I do it for my passion for trading, not for the money.

Newbies who are reading this right now, i have a message to you: don't gamble your couple hundred or thousand bucks. Take your family to a dinner with that money, hug them, buy small gifts to them, appreciate the life you have, celebrate it before it's too late.

Make your wife/girlfriend smile, make your kids smile, make your parents smile. No amount of money can buy that happiness.
You have to have an IQ higher than 90 to interact with this user.
  • #46,635
  • Oct 12, 2024 2:09pm Oct 12, 2024 2:09pm
Quoting Nordling
{quote} He has a gambling mindset, that's the problem. Whether if he was long and made money, he was going to lose it one day anyways. It will only delay the inevitable. ********** Trading is not meant for everyone, especially for people who thinks trading will solve their financial problems. People who struggle with money should invest it, not trade it. Because trading is a game of probabilities, just like poker or blackjack. Who can afford to play those games? Those who can afford taking losses. So it's not meant for financially disadvantaged...
Possibly the best advice here so far!!! Really makes you think deep.
  • #46,636
  • Oct 12, 2024 7:36pm Oct 12, 2024 7:36pm
Quoting Nordling
{quote} He has a gambling mindset, that's the problem. Whether if he was long and made money, he was going to lose it one day anyways. It will only delay the inevitable. ********** Trading is not meant for everyone, especially for people who thinks trading will solve their financial problems. People who struggle with money should invest it, not trade it. Because trading is a game of probabilities, just like poker or blackjack. Who can afford to play those games? Those who can afford taking losses. So it's not meant for financially disadvantaged...
100 % True. I agree with you. If every new trader should read this, it will help to reduce to pain of losing
  • #46,637
  • Oct 12, 2024 8:27pm Oct 12, 2024 8:27pm
Q4/Y
Attached Image (click to enlarge)
Click to Enlarge Name: WolframNB_HzkRcQ6Hr9.png Size: 23 KB
Air force
  • #46,638
  • Oct 12, 2024 8:56pm Oct 12, 2024 8:56pm
In 2005 the price of gold was around 360
Today it is 2600

In these years what changed what made the price rise, that is the summary of gold trading. It is so stupid and so easy
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20241013-073341.png Size: 67 KB
  • #46,639
  • Oct 12, 2024 9:01pm Oct 12, 2024 9:01pm
The Fed is most likely cutting rates again, and there is a good chance that gold could hit $2700~$2800 by year’s end. Think about it - when was the last time you saw gold take a dip? It’s just keep pulling back before making another higher high.
  • #46,640
  • Oct 12, 2024 9:05pm Oct 12, 2024 9:05pm
Quoting Nordling
{quote} He has a gambling mindset, that's the problem. Whether if he was long and made money, he was going to lose it one day anyways. It will only delay the inevitable. ********** Trading is not meant for everyone, especially for people who thinks trading will solve their financial problems. People who struggle with money should invest it, not trade it. Because trading is a game of probabilities, just like poker or blackjack. Who can afford to play those games? Those who can afford taking losses. So it's not meant for financially disadvantaged...
It's not gambling....I think he was trying DCA or maybe swing trade. But the mistake he made was never closing trades and restarting. Even DCA isn’t meant to always be profitable.

I use DCA too, but if I hit DCA loss around 5-6 or may 10%, I close all the trade. If it’s not working, take a few days' rest and restart. The big mistake most people make is holding onto trades too long, letting their accounts blow up instead of cutting losses.
93 traders viewing now, 2 are registered:
Timothy098
,
ondiss