DislikedGold played exactly to RSI and price action trend lines today. I'm maintaining $1,306 as support (show of hands for everyone that reloaded here) and if that holds I'm targeting a retest of the long-term descending trend line (red) which should be intersecting with resistance of the ascending channel (blue) between $1,342.50 and $1,345 around when the London market opens. {image}Ignored
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #27,747
- Nov 7, 2013 6:08pm Nov 7, 2013 6:08pm
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Money Makes Money
{quote} hi twinklestars, Sounds like a good plan. Maybe, later, one cafe can turn into two... good luck with that. To achieve this plan you will have to work at sharpening your trading skills (by reading, studying and practice) and you will also have to just do "screen time" by trading for a few years. Regarding money and funding your account: there really is no need to deposit $600 in an account all at once. The nature of learning trading and learning about ourselves in the market is that we will lose money until we have an illumination and find...
HugsssMy parents hate it when they know I try trading. And after I ended up with no profits, they ask me to stop playing
Well my dad has lost quite a lot in trading Xau with local futures, so he don't want me to repeat the same mistakes.
But I need to show them that there're people like u guys out there who can made lots of money than just working in the office, so I will keep learning and trading, even with 100usd! I'm changing broker right now. Do u guys think Instaforex is good? My ex broker always told me to deposit more money, and ask for 20% commission. I haven't gain that much and I kept saying I don't have money to trade at the moment, but they ask me like everyday, it began to annoys me
Sorry OOT guys, please be kind to me
- #27,755
- Nov 7, 2013 10:20pm Nov 7, 2013 10:20pm
- Joined Jul 2011 | Status: good | 4,295 Posts
{quote} I agree with you ,I even think it might goto 1320 and then drop, I am putting sell on 1315 and 1320 respectively, I expect this wave 3 of 1 reach 1252 or even 1238.
These are likely outcomes you and KiwiOz mention.
Can I kindly ask you to show your wavecount (as simple or basic as you like) - I want to see where you're coming from and discuss
cryptocurrency everytime
- #27,756
- Nov 7, 2013 10:23pm Nov 7, 2013 10:23pm
- Joined Jul 2011 | Status: good | 4,295 Posts
cryptocurrency everytime
- #27,757
- Edited Nov 8, 2013 1:51am Nov 7, 2013 10:32pm | Edited Nov 8, 2013 1:51am
- Joined Jul 2011 | Status: good | 4,295 Posts
{quote} Sometimes peoples that not near to you can be more encouraging that peoples near you
It's really useful that your father has some trading experience and I hope he passes some knowledge on to you. As always, parents are concerned about the well-being of their children and want the best for them. This often ends up with fears and warnings about "the worst case scenario" - you have to understand and "manage" your parents in a way!
However, for trading, fears and worries about mistakes is the wrong starting point for a positive, progressive, winning mindset. This is your responsibility and you must build this positive mind power over months and years. You can make a success of trading and make heaps of money from it. You can do it! Just know that it is a slow process and it will take as long as it takes - so don't feel anxious or rush things. Put small amounts of money in your account and seek to increase it slowly. When you can trade with confidence and consistent success, then you up the stakes and hit the market for big money! As I said you will know when that time arrives in a few years. Patience and persistence and mind power, OK?
And remember: you don't need a large starting amount to make big money - that is just a "one-day my ship will come" procrastination trick of the mind. You will learn to double amounts with relative ease - but you first need to get your skills sharpened: 1) technical analysis 2) trading method 3) money and risk management. When the first two are well developed enough, you change gear on the third (MM) and trade large - and with calm confidence. Time and study and practice are the teachers. That's why one always should use small amounts - the focus should be the trading and not the amount of money (and the pain of dealing with large losses). Once your trading technique is solid then turn your attention on the amount of money. You will know when that day arrives.
Yes, change broker - your current broker is being unreasonable. I don't know Instaforex, but can recommend Oanda - quick, easy and based in Singapore for us traders in Asia.
Good Luck today
cryptocurrency everytime
