Gold | Page 3080 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD

Attachments: Gold
Exit Attachments

Gold

  • #61,581
  • Jan 24, 2025 9:52am Jan 24, 2025 9:52am
Hey fellow traders, I am a pretty new trader with only a couple months of experience. I seem to have come at an impasse, for some reason when I trade I make good profits but then I take losses that can be greater than the previous profit, leaving me at constant breakeven. Perhaps it's my strategy? or my mentality. I'm not sure and I am struggling with this as it seems to have halted my progress :/
  • #61,582
  • Jan 24, 2025 9:54am Jan 24, 2025 9:54am
Quoting ScalaFX
{quote} add 2755 Buddy, you are demo zero, all people know that
2780 last one, hard stop for all positions 2830, first TP 2600, next 2500
People don't plan to lose. They lose because they don't plan.
  • #61,583
  • Jan 24, 2025 9:58am Jan 24, 2025 9:58am
Quoting Whale
{quote} But the bulls suddenly came out of nowhere everytime. Lets hope our dream come true and falling knife will apear
Lol we might be lucky. Where's your TP? I am set for 2770. Sorry, I meant 2765 is TP.
"Who Dares Wins"
  • #61,584
  • Jan 24, 2025 10:04am Jan 24, 2025 10:04am
Quoting rudolphxau
{quote} No, I am asking why will it retrace so drastically, unless there's a big global event?
and I will add going down
The warrior of good
  • #61,585
  • Jan 24, 2025 10:05am Jan 24, 2025 10:05am
Quoting Ravenfeeder
{quote} Lol we might be lucky. Where's your TP? I am set for 2770. Sorry, I meant 2765 is TP.
im trading 30m to weekly.

so first 2712
and the real one is 2530

ambitions, i know.
  • #61,586
  • Jan 24, 2025 10:10am Jan 24, 2025 10:10am
Quoting BEN9
{quote} That's far too low man. Im not trying to persuade you or anything, but your position is far too risky . You and me both know - "When gold moves it doesn't stop, and when it's ranging it'll test your patience to the fcking extreme" So i suggest you just follow your conviction. Don't regret your decisions later. Peace
The strategy turned out to be a bit of a mistake on my part. But it's all about staying focused, it's nothing that hasn't happened before, now it's about working the capital well and maintaining good management.

Price alerts on 2765.00 & 2760.00
DAC
  • #61,587
  • Jan 24, 2025 10:10am Jan 24, 2025 10:10am
Based on hourly, my tp is 2762, give or take a few pips. Either way, I am closing my trade before the day end or my broker will take my house in swaps.
  • #61,588
  • Jan 24, 2025 10:12am Jan 24, 2025 10:12am
Much as i would like to see gold fall i don't think its possible before it somewhat clears the old ATH
  • #61,589
  • Jan 24, 2025 10:29am Jan 24, 2025 10:29am
Quoting Cadiz1
Hey fellow traders, I am a pretty new trader with only a couple months of experience. I seem to have come at an impasse, for some reason when I trade I make good profits but then I take losses that can be greater than the previous profit, leaving me at constant breakeven. Perhaps it's my strategy? or my mentality. I'm not sure and I am struggling with this as it seems to have halted my progress :/
as a new trader how many trades you take ?
Candlesticks dont move markets, Volume does
  • #61,590
  • Jan 24, 2025 10:37am Jan 24, 2025 10:37am
Quoting dac.farrokh
{quote} The strategy turned out to be a bit of a mistake on my part. But it's all about staying focused, it's nothing that hasn't happened before, now it's about working the capital well and maintaining good management. Price alerts on 2765.00 & 2760.00
what would be wrong to cut your trade in loss and switch directions to ride the move? ill tell you what the problem is. the minute you cut your trade, your emotions kick in .. thinking of the money you lost. As long as you don't detach yourself from idea of money to PIPS.., you maybe doing extremely well and in a couple of weeks end up giving all that you gained back to the market. such type of trades are called being married to a trade. stop doing that and start to practice switching directions, this way you will be far more successful..
Candlesticks dont move markets, Volume does
  • #61,591
  • Jan 24, 2025 10:39am Jan 24, 2025 10:39am
I’ve been in this field for exactly two years now. My focus is on using key levels along with daily and weekly templates. So far, so good—I’ve been taking 30% profit a day.
I don’t follow the crowd — I follow my system. The rest is just noise.
  • #61,592
  • Jan 24, 2025 10:45am Jan 24, 2025 10:45am
Quoting Praetorion
{quote} what would be wrong to cut your trade in loss and switch directions to ride the move? ill tell you what the problem is. the minute you cut your trade, your emotions kick in .. thinking of the money you lost. As long as you don't detach yourself from idea of money to PIPS.., you maybe doing extremely well and in a couple of weeks end up giving all that you gained back to the market. such type of trades are called being married to a trade. stop doing that and start to practice switching directions, this way you will be far more successful.....
Most people have that issue, myself included sometimes.
well said man .
  • #61,593
  • Jan 24, 2025 10:53am Jan 24, 2025 10:53am
Quoting pipHunter2
{quote} ____________ UPDATE = TP1 @2885


Attached Image (click to enlarge)
Click to Enlarge Name: corr.png Size: 16 KB

Attached Image (click to enlarge)
Click to Enlarge Name: corr1.png Size: 50 KB
Stay Under my dealer's RADAR
  • #61,594
  • Jan 24, 2025 10:54am Jan 24, 2025 10:54am
Market didn't give us new ATH at critical levels. So in short-term, I switch to bears side and ~2682 is my target for this move.

P/S: we have FOMC next week, this imo would support USD strength a lot. Trump said he will talk with FED to solve and cut rates faster. But as many times before, Powell likely come out and say 'they have their own plans and doesn't need to comply with the president anyway' (specially Trump). That would slap markets hard
  • #61,595
  • Jan 24, 2025 10:59am Jan 24, 2025 10:59am
Price locking
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20250124-175729.png Size: 40 KB
The warrior of good
  • #61,596
  • Jan 24, 2025 11:00am Jan 24, 2025 11:00am
added short 2772.. on the support.
now or never.

2777 is the sl for both orders
  • #61,597
  • Jan 24, 2025 11:04am Jan 24, 2025 11:04am
Quoting PushnPull
Рынок не дал нам нового ATH на критических уровнях. Поэтому в краткосрочной перспективе я перехожу...
Early. support 2770 TP 2792 We'll get there today.
  • #61,598
  • Jan 24, 2025 11:06am Jan 24, 2025 11:06am
Quoting Praetorion
{quote} what would be wrong to cut your trade in loss and switch directions to ride the move? ill tell you what the problem is. the minute you cut your trade, your emotions kick in .. thinking of the money you lost. As long as you don't detach yourself from idea of money to PIPS.., you maybe doing extremely well and in a couple of weeks end up giving all that you gained back to the market. such type of trades are called being married to a trade. stop doing that and start to practice switching directions, this way you will be far more successful.....
This week I've made 251 pips so far and I'm losing about 120 pips on this trade(s), so it's all good.

My trades usually takes around 1h09m, this one was really different, I ended up holding on for longer than I should have, and as I said yesterday it was positive and it was my mistake that I didn't close it, it's all about staying focused.

And to be honest, I'm only here to share a little of my journey, and I have zero interest in following other people's opinions/signals etc, my opinion is the only one that matters when I open or close a trade. I've been profitable for 6 years, it's not my main source of income now but it used to be.

Cheers,
DAC
  • #61,599
  • Jan 24, 2025 11:06am Jan 24, 2025 11:06am
Quoting BeeGold
{quote} Early. support 2770 TP 2792 We'll get there today.
I hope so, but I won't bet on this
  • #61,600
  • Jan 24, 2025 11:23am Jan 24, 2025 11:23am
Quoting satheesh
{quote} Give me the reason behind your numbers. I have fib extension of 161.8 aligns with 2792
I wanted this level to playout and reject so I could explain it better, as it would help you and others understand both the actions and the reasoning behind them. When you examine those levels on a 4-hour chart, you'll notice a tightly compressed bullish candle followed by a significant bearish candle to the downside. This candle indicates the presence of resting orders, imbalances, or an FVG (Fair Value Gap) — call it what you will. This was also confirmed by the data on my market delta feed, which is why I mentioned there would likely be some resistance at that point. Most traders here rely on 30-minute, 1-minute, 5-minute, or 15-minute charts, where such details are often not visible and usually such aggressive moves are only played on a 4hr or daily.

Second, consider that it’s a Friday, and we’re trading above the Range Weekly High as well as the Range Daily high, therefore exceeding the Average Daily Range (ADR) limits for gold. While markets can exceed these limits, they often revert within them by the close of Friday trading.

Third, we are also above the daily open, which has not been revisited. This suggests there’s room for a potential upward move. Over the three trading sessions, the price hasn’t returned to test this level, signaling an aggressive move to the upside.

Fourth, take note of the volume profile. Where do you see the highest activity during a session? This indicates whether you’re operating in a premium zone or a discount zone, which calls for caution.

Using a simple Fibonacci retracement from high to low can provide probabilities, not precision. your 161.8 can be my 178.60 or 61.8, that tells me nothing.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 68 KB
Click to Enlarge Name: screenshot.png Size: 66 KB
Click to Enlarge Name: screenshot.png Size: 64 KB
Candlesticks dont move markets, Volume does
145 traders viewing now