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Make More Money - Eliminate DRAMA 11 replies

Just posting my trades, everyone is welcome but no drama 2 replies

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Gold with No Drama

  • #63,061
  • Jul 13, 12:07pm (8 hr ago) Jul 13, 12:07pm (8 hr ago)
Quoting Mau2609
{quote} Thanks for taking the time to explain all that. I really appreciate it. I'm still learning, so it's very helpful to hear different perspectives on risk management. In my case, I do use a stop loss, but I place it based on the market structure and then adjust my position size accordingly. Your explanation gave me a lot to think about. By the way, are there any books on trading or risk management that you would recommend? I've already read Trading in the Zone, I'm currently reading Day Trading For Dummies, and I've also ordered the CMT Level...
A member of this forum, T721, has uploaded almost a 1,000 free PDFs about trading.
You can find those at his profile page https://www.forexfactory.com/t721 (look at the "Files"-section of the Forum Attachments).
In other news: the earth is flat. Aliens built the pyramids. And god exists
  • #63,062
  • Jul 13, 12:09pm (8 hr ago) Jul 13, 12:09pm (8 hr ago)
Quoting Mau2609
{quote} Thanks for taking the time to explain all that. I really appreciate it. I'm still learning, so it's very helpful to hear different perspectives on risk management. In my case, I do use a stop loss, but I place it based on the market structure and then adjust my position size accordingly. Your explanation gave me a lot to think about. By the way, are there any books on trading or risk management that you would recommend? I've already read Trading in the Zone, I'm currently reading Day Trading For Dummies, and I've also ordered the CMT Level...
look at my profile if you want some reading material. iv'e dropped hundreds of pdfs and books
  • #63,063
  • Jul 13, 12:10pm (8 hr ago) Jul 13, 12:10pm (8 hr ago)
Quoting Lloyd628
{quote} A member of this forum, T721, has uploaded almost a 1,000 free PDFs about trading. You can find those at his profile page https://www.forexfactory.com/t721 (look at the "Files"-section of the Forum Attachments).
Lmao.... you beat me to it
  • #63,064
  • Jul 13, 12:14pm (8 hr ago) Jul 13, 12:14pm (8 hr ago)
Quoting Huzaifa88
{quote} stay away from gold my brotherly advice it makes u rich quick no doubt but it makes u poor more rapidly and these days its the most intense work to trade gold its ripping out all better stay 1:1 on currencies or 1:2 higher time frames otherwise u will lose your mind rest is ur choice
Thanks for the advice really appreciate it!
Why do you say to stay away from Gold?
Yeah I was having a good winning streak on currencies and the technicals were well to
the time I got into Gold I lost back to back
But I feel like its the same as forex currencies markets just a bit aggressively
Yeah fundamentals matter most but they mostly go around technicals as from my pov
  • #63,065
  • Jul 13, 12:16pm (8 hr ago) Jul 13, 12:16pm (8 hr ago)
The Hourly closed bearish but the bulls are still in this
  • #63,066
  • Jul 13, 12:16pm (8 hr ago) Jul 13, 12:16pm (8 hr ago)
The best book its your xperience and failure. Thesebooks good but they comes from their knowlodge. you and we should collect data for our setup.
  • #63,067
  • Jul 13, 12:16pm (8 hr ago) Jul 13, 12:16pm (8 hr ago)
Quoting thebigshot
{quote} best money management book is {image} not that easy to understand it, took me 6 months to fully break the book down understand it, and apply it of different modals while testing it live on a small account. But totally worth it. My core money management is based on this book. Trade management book {image} learn from the best.
Thank you very much I appreciate it.

Quote
look at my profile if you want some reading material. iv'e dropped hundreds of pdfs and books

I just saw your profile, pure gold!

Thanks for all your replies. I really appreciate people who take the time to share their knowledge and add value.
  • #63,068
  • Jul 13, 12:17pm (8 hr ago) Jul 13, 12:17pm (8 hr ago)
Quoting Isitha
{quote} Thanks for the advice really appreciate it! Why do you say to stay away from Gold? Yeah I was having a good winning streak on currencies and the technicals were well to the time I got into Gold I lost back to back But I feel like its the same as forex currencies markets just a bit aggressively Yeah fundamentals matter most but they mostly go around technicals as from my pov
because its Gold
Asymmetric home run trades only!
  • #63,069
  • Jul 13, 12:21pm (8 hr ago) Jul 13, 12:21pm (8 hr ago)
Quoting Mau2609
{quote} Thank you very much I appreciate it. {quote} I just saw your profile, pure gold! Thanks for all your replies. I really appreciate people who take the time to share their knowledge and add value.
i rarely come to metals mine.
But whenever i do come, i always try to leave a mark behind.
Today its you

Wish you all the best with the mathematics of money management

Terry sir is the heart of forex factory. Gave everything for free.
Asymmetric home run trades only!
  • #63,070
  • Jul 13, 12:24pm (8 hr ago) Jul 13, 12:24pm (8 hr ago)
Quoting thebigshot
{quote} because its Gold
bruh
  • #63,071
  • Jul 13, 12:25pm (8 hr ago) Jul 13, 12:25pm (8 hr ago)
Quoting Isitha
{quote} Thanks for the advice really appreciate it! Why do you say to stay away from Gold? Yeah I was having a good winning streak on currencies and the technicals were well to the time I got into Gold I lost back to back But I feel like its the same as forex currencies markets just a bit aggressively Yeah fundamentals matter most but they mostly go around technicals as from my pov
Gold will do that to you. I feel like if you can go through with trading gold, you can trade anything. It's very unforgiving
  • #63,072
  • Jul 13, 12:25pm (8 hr ago) Jul 13, 12:25pm (8 hr ago)
Quoting T721
{quote} look at my profile if you want some reading material. iv'e dropped hundreds of pdfs and books
Thank you very much I decided to buy trade in the zone I found in your profile very helpfull
  • #63,073
  • Jul 13, 12:26pm (8 hr ago) Jul 13, 12:26pm (8 hr ago)
Quoting isitha
{quote} thanks for the advice really appreciate it! Why do you say to stay away from gold? Yeah i was having a good winning streak on currencies and the technicals were well to the time i got into gold i lost back to back but i feel like its the same as forex currencies markets just a bit aggressively yeah fundamentals matter most but they mostly go around technicals as from my pov
its my personal expericience
i dont know about others
but the roadmap which i followed was first trading currencies over 2 years yet i was just forward testing gold
as i wanted to become a gold trader
trading currencies first will give u patience and build ur mindset
having winning streaks doesnt mean u have unlocked the market
i myslef have achieved many
infcat here in live trades in past
but market has always humbled me no matter what
today i shared two trades
1st tp
2nd just reversed from some pips

these days its awful to trade gold and not piece of cake and when i share live trades i know how big responsibility like feeling i face yet it gives me confidence to take trade myself too
many here know how weird price action is behaving just because of geopolitical tensions
if u want to trade u can your will
but use small lots
i know its human nature u will get over confident just like i was in the beginning and got badly humbled
actual thing is to survive lifetime

some tips i want to tell u which i still do i hate myself for this
trading on bank holdiays unknowingly while i get indulged in trade already (u will get mentally sick if u do this on gold )
second not booking profits and holding ( now here comes two regrets it depends on ur styel and risk plan
there are two regrets u get to choose which u can afford
1st closing 1:1 or slight more not holding much and risking more than 1% of ur account now here risk is double and but u wind up trade quickly and at same time if market continues further in ur direction u feel regret why i closed i could have made more and then u trdae more and loose all here u have to stick to high risk taking small risk to reward trades
second regret is risking 1% or less or and holding trades not booking(this is what i do and i suffer from this regret these days much because of market conditions my problem is not entry no bias mostly but when to exit when to book when to breakeven
in past before joining this thread multiple times it happend i dont breakeven and was in good profits massively yet ended in peanuts why i thought it will reach my target as i expect it also does but obviosuly not always but iam happy with style as my risk appetie is acceptable with this

so you choose ur uncertainity in gold
hold further
or book and close
this piece of advice u will witness much when trading gold
  • #63,074
  • Jul 13, 12:31pm (8 hr ago) Jul 13, 12:31pm (8 hr ago)
Very reasonable discount. Buying spot Gold eliminates the margin call risk, and you can hedge with a short / buy Put options / sell Call options.

There's a case for 3500, specially with the cluster of green days at those levels that were never retested, also weekly RSI will *at some point* fall below 30.

But in my opinion this is a very attractive price to begin buying spot and hedge short.
  • #63,075
  • Jul 13, 12:33pm (8 hr ago) Jul 13, 12:33pm (8 hr ago)
Quoting Max-EsMx
Looking for 3990, sl 4020, sell at 4010 Start of week

I was literally the last one liquidated and after 80 minutes TP is played. This is trading, the important thing is not to get excited and come back tomorrow


Stay learning, stay cool and stay patient
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  • #63,076
  • Jul 13, 12:41pm (8 hr ago) Jul 13, 12:41pm (8 hr ago)
Quoting Huzaifa88
{quote} its my personal expericience i dont know about others but the roadmap which i followed was first trading currencies over 2 years yet i was just forward testing gold as i wanted to become a gold trader trading currencies first will give u patience and build ur mindset having winning streaks doesnt mean u have unlocked the market i myslef have achieved many infcat here in live trades in past but market has always humbled me no matter what today i shared two trades 1st tp 2nd just reversed from some pips these days its awful to trade gold and...
Really Valuable advice Sir! Thanks so much for taking time for this! I will look forward for this. For the beginning times this feels gold.
  • #63,077
  • Jul 13, 12:41pm (8 hr ago) Jul 13, 12:41pm (8 hr ago)
trade in gold in these days is not a cup of tea
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mannnnan
  • #63,078
  • Jul 13, 12:45pm (8 hr ago) Jul 13, 12:45pm (8 hr ago)
Crazy volume are we gonna see a free fall in gold tomorrow if CPI comes sticky.
  • #63,079
  • Jul 13, 12:55pm (7 hr ago) Jul 13, 12:55pm (7 hr ago)
I always wondered if any of you guys use percentage of range to pinpoint your entries. Anyone use it?
Matryoschka
  • #63,080
  • Jul 13, 1:01pm (7 hr ago) Jul 13, 1:01pm (7 hr ago)
Quoting Rednose
I always wondered if any of you guys use size of her sandals to pinpoint your emotions. Anyone use it?
no
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