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No attacks just gold trades/analysis

  • #6,201
  • Jul 23, 11:55am (1 hr 51 min ago) Jul 23, 11:55am (1 hr 51 min ago)
Quoting Erufe
{quote} I borrowed money which I shouldn't have at the initial time. The money wasn't borrowed today though but last month. Today, took a buy and before you know it, gold is down and I am trading via mobile phone. That's how I lost my account. Where will I get the money to repay? Honestly no where . That's what I have been thinking since morning bro. Story of my life! Everybody should learn
bro I can feel your feeling.. i lost nearly all my savings this year.. All saving from last 7 years.. trading is brutal without discipline... I learnt in hard way.. don't give up.. take it as lesson.. don't try to recover all at once (which was reason how i lost 90% for recovering 10%).. try to build slowly..
  • #6,202
  • Jul 23, 12:00pm (1 hr 46 min ago) Jul 23, 12:00pm (1 hr 46 min ago)
Quoting canyouu
{quote} Trading is very addictive so be careful and don't ever trade with money someone gave it to you to keep it for him or borrowed money because this market is so dynamic and keeps changing direction at any moment it feels like and that's what makes this market very difficult or impossible to predict not that no one understand how the market moves or how it behaves, but the mystery lies in its ability to change direction any moment, though it mostly gives signals before the move begins, but the signals itself is difficult to decode and sometimes...
No matter how you advice people about trading they will hardly learn from mistakes of others until they learn the hard way
  • #6,203
  • Jul 23, 12:02pm (1 hr 43 min ago) Jul 23, 12:02pm (1 hr 43 min ago)
Quoting Jidedon
{quote} Sorry to hear that you lost your account, plz next time dont borrow money to trade forex except you very good in trading Gold, i had lost account couple of times too i pray you get back trading soon.
Thanks bro
  • #6,204
  • Jul 23, 12:03pm (1 hr 42 min ago) Jul 23, 12:03pm (1 hr 42 min ago)
Quoting Habeel.
{quote} save up some money bro,, repay the debt slowly while saving up for some which you’ll use to trade, and by doing that continue keeping an eye on the market and stay patient(dont rush to trade as the market will always be there) -just watch it to stay in line,,,, lastly if you have a good system that works, trading on phone isnt a problem. Just stay strong buddy, all the best
Thank you
  • #6,205
  • Jul 23, 12:05pm (1 hr 41 min ago) Jul 23, 12:05pm (1 hr 41 min ago)
Quoting NeverAgain
{quote} bro I can feel your feeling.. i lost nearly all my savings this year.. All saving from last 7 years.. trading is brutal without discipline... I learnt in hard way.. don't give up.. take it as lesson.. don't try to recover all at once (which was reason how i lost 90% for recovering 10%).. try to build slowly..
Thank you
  • #6,206
  • Jul 23, 12:05pm (1 hr 40 min ago) Jul 23, 12:05pm (1 hr 40 min ago)
Quoting sweetboiwale
{quote} Oh no, so sorry to hear that. We've all been there before
Thank you
  • #6,207
  • Jul 23, 12:07pm (1 hr 39 min ago) Jul 23, 12:07pm (1 hr 39 min ago)
Quoting Erufe
{quote} Thanks bro
hey bro, were you trading props or live account? Have you ever backtested your strategy or traded on demo to prove that you're actually profitable over a set amount of time?
  • #6,208
  • Jul 23, 12:13pm (1 hr 33 min ago) Jul 23, 12:13pm (1 hr 33 min ago)
Quoting Erufe
{quote} I borrowed money which I shouldn't have at the initial time. The money wasn't borrowed today though but last month. Today, took a buy and before you know it, gold is down and I am trading via mobile phone. That's how I lost my account. Where will I get the money to repay? Honestly no where . That's what I have been thinking since morning bro. Story of my life! Everybody should learn

Give your phone to someone and stop trading and if possible go offline and work and pay bit by bit but talk to your lenders to give you time, however it would depend on your character and your relationship with them and their character and their understanding about life in general but you will not find it easy at all but never think suicide is better no matter what happens.
  • #6,209
  • Jul 23, 12:19pm (1 hr 26 min ago) Jul 23, 12:19pm (1 hr 26 min ago)
Quoting canyouu
{quote} Give your phone to someone and stop trading and if possible go offline and work and pay bit by bit but talk to your lenders to give you time, however it would depend on your character and your relationship with them and their character and their understanding about life in general but you will not find it easy at all but never think suicide is better no matter what happens.


with your current condition/position if you look at the chart you will be tempted to borrow from somewhere else to trade or any money you will get you will use it to trade and you will lose it, don't trust your brain that much.
  • #6,210
  • Jul 23, 12:28pm (1 hr 17 min ago) Jul 23, 12:28pm (1 hr 17 min ago)
Quoting canyouu
{quote} Give your phone to someone and stop trading and if possible go offline and work and pay bit by bit but talk to your lenders to give you time, however it would depend on your character and your relationship with them and their character and their understanding about life in general but you will not find it easy at all but never think suicide is better no matter what happens.
Thank you brother. Suicide is not an option. No matter what happens. We shall survive the storm as a man
  • #6,211
  • Jul 23, 12:33pm (1 hr 12 min ago) Jul 23, 12:33pm (1 hr 12 min ago)
Quoting AK.47
{quote} hey bro, were you trading props or live account? Have you ever backtested your strategy or traded on demo to prove that you're actually profitable over a set amount of time?
Live account. My major problem is emotion. Going wild immediately after loosing a small amount of dollar. That is just my problem.
How can I control this? Though I'm staying off trading for now to reset my brain
  • #6,212
  • Jul 23, 12:38pm (1 hr 8 min ago) Jul 23, 12:38pm (1 hr 8 min ago)
Quoting Erufe
{quote} Live account. My major problem is emotion. Going wild immediately after loosing a small amount of dollar. That is just my problem. How can I control this? Though I'm staying off trading for now to reset my brain
You can control it by treating a demo account like a live one. Though one cannot 100% replicate it, try. Try your hardest to. Once, you start treating paper money like real money, find your edge. Keep trading until you're profitable over the course of a few months ( 3 at the very least tbh ). Obviously do NOT jump into a live account, I would still recommend prop firms since even if your mental psychology get's fucked, you're only losing a fraction of a money by revenge trading. Be sure to simulate propfirm accounts while backtesting / forwardtesting too to mend your system according to props.

You can also go the live route but if that switch flicks and you start revenge trading and lose 90% to make that 10% back, it's ALL over AGAIN.
  • #6,213
  • Jul 23, 12:39pm (1 hr 6 min ago) Jul 23, 12:39pm (1 hr 6 min ago)
Quoting Erufe
{quote} Live account. My major problem is emotion. Going wild immediately after loosing a small amount of dollar. That is just my problem. How can I control this? Though I'm staying off trading for now to reset my brain
Bro, i used to have this same issue before. I learnt the hard way. Emotion will always be against you when trading. U just have to learn how to control it.

Before you take any trade. Ask yourself a honest question. If this trade goes against me, would it affect me financially and emotionally. If its yes, Dont take the trade.

Never risk the money you are not willing to let go to trade
SBWale
SBWale Return This Month: 175.3%
  • #6,214
  • Edited 1:09pm Jul 23, 12:45pm (1 hr 1 min ago) | Edited 1:09pm
Quoting Erufe
{quote} Thank you brother. Suicide is not an option. No matter what happens. We shall survive the storm as a man
Ive blown my acc thrice, it took me 3 times to learn my mistake. Trading initial is like gambling and I feel in initial days we have the beginners luck. Seeing quick money were tempted to place higher lots and that’s when the blowout happens.
Take some time off, go for a run, hit the gym.
And about repaying debt, i recently found out that a cousin of mine trades too. He too had picked up huge debt from his colleagues promising good returns monthly( he was in his beginners luck ) He had borrowed overall 30k$ ( which is a huge amount for us in India ) he lost it all. Spoke to his colleagues, took them under confidence and promised them to return thier capital slowly. It’s been one year now and he has repaid 75% of the capital back.

So, don’t loose hope. We all make mistakes. It’s how we learn from it and overcome and move ahead and upwards in life.
God Bless, I’m sure you will succeed in life!
Edit - will share my biggest loss ( when I had no fucking clue what I was doing )
There it is!
that’s 2150$ gone in like an hour or two.
that day and today, my lots don’t go beyond 0.5 to 1 tops ( for my USD Cent acc )
Attached Image (click to enlarge)
Click to Enlarge Name: 36A34A66-DE13-4E15-B9BB-1BEBE4590AED.jpeg Size: 31 KB
  • #6,215
  • Jul 23, 1:00pm (45 min ago) Jul 23, 1:00pm (45 min ago)
BUY entry 4043 SL 4033 TP 4180
Checking institutional pattern of this week
  • #6,216
  • Jul 23, 1:15pm (30 min ago) Jul 23, 1:15pm (30 min ago)
Quoting SomeProfit
BUY entry 4043 SL 4033 TP 4180 Checking institutional pattern of this week
oils not stopping and dxy is ranging in highs. And price stuck here since 4-5 hours is worrisome. Could be bullish as it has held quite well since it has got to 4040 but the other metrics don’t seem in favour.
I could be completely wrong.
  • #6,217
  • Last Post: Jul 23, 1:19pm (26 min ago) Jul 23, 1:19pm (26 min ago)
Quoting Amrb77
{quote} oils not stopping and dxy is ranging in highs. And price stuck here since 4-5 hours is worrisome. Could be bullish as it has held quite well since it has got to 4040 but the other metrics don’t seem in favour. I could be completely wrong.
Yeah just cheking but theese guys like simple things also lets see
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