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Only Gold!

  • #24,061
  • Feb 27, 2015 10:23am Feb 27, 2015 10:23am
think this trend can keep going til mid week ahead of us.
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  • #24,062
  • Feb 27, 2015 10:25am Feb 27, 2015 10:25am
Quoting jasakreatif
{quote} i ever made more than 10 times sl hit , but can cover only by 1 or 2 tp hit , because all tp is wide and sl is tight , easly to recover
Don't think so.

To trade Gold you'd need a minimum of 3 dollars, usually its 5/6 (unless you scalp m1). So your TP at least 30 dollars up to 60 dollars with one single trade?

Very rare situation

Its better to wait for good entries instead of getting stopped out 10 times in a row
COT: The precious data ignored
  • #24,063
  • Feb 27, 2015 10:43am Feb 27, 2015 10:43am
Quoting Martozo
{quote} Just curious, what is good win rate?
If the risk/reward ratio is like 1:2, in such case even a win rate of 5/10 would make you a rich man..
Hello World!
  • #24,064
  • Feb 27, 2015 10:43am Feb 27, 2015 10:43am
Quoting limteckchai
I dun quite understand what is happening, why is EURUSD going down, USDYEN going up, AUSUSD going down but GOLD not going down as much? Somehow it gold doesnt seem to be affected as much by the increase of USD strength (around 30 mins ago)
End of the month, probably has something to do with book balancing, regarding equities.
COT: The precious data ignored
  • #24,065
  • Feb 27, 2015 10:47am Feb 27, 2015 10:47am
This peakout is not huge, but, since its occurring @ 12pm NY.. it makes sense..

IF 5pm NY falls on similar lines too.. i.e. no bottom-out around then.. but only sideways or peak like thing.. this would make enormous sense..

Its a weekend ahead.. I would not give any call on the basis of it.. as my observation is limited..

moreover 1-2 good calls a week is all I would like to share here..

Have a nice weekend you all!

PS: Trade light & safe with all of your senses on.
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Hello World!
  • #24,066
  • Feb 27, 2015 10:52am Feb 27, 2015 10:52am
How high a win ratio is not what matters.

Keeping risk in check is.
  • #24,067
  • Feb 27, 2015 11:00am Feb 27, 2015 11:00am
Quoting SunTrader
How high a win ratio is not what matters. Keeping risk in check is.
I'm thinking of working on a demo account, where I would not use SL at all.. however, if absolute drawdown goes above 10%, I would consider that effort FAIL..
How does it sound?

With real accounts, I'm working on putting funds not more than drawdown allowed. How does that sound?

Its simple & like this, I put 10% of the capital in an account, now I'm supposed to earn 10% per month of the capital. (even 5% would be fine)

In other words, I'll have to double the actual capital there in the account in order to justify trades. Plz opine..
Hello World!
  • #24,068
  • Feb 27, 2015 11:04am Feb 27, 2015 11:04am
Quoting ClockTrader
{quote} I'm thinking of working on a demo account, where I would not use SL at all.. however, if absolute drawdown goes above 10%, I would consider that effort FAIL.. How does it sound? With real accounts, I'm working on putting funds not more than drawdown allowed. How does that sound? Its simple & like this, I put 10% of the capital in an account, now I'm supposed to earn 10% per month of the capital. (even 5% would be fine) In other words, I'll have to double the actual capital there in the account in order to justify trades. Plz opine..
My comment on anything demo !#$*$_)((#$@!^$)*+


Seriously just my opinion if real money is not at risk - nothing (money or knowledge) is gained.
  • #24,069
  • Feb 27, 2015 11:05am Feb 27, 2015 11:05am
Quoting SunTrader
How high a win ratio is not what matters. Keeping risk in check is.
Have you ever come across a trader who would double the capital with abs. drawdown 0% in no time?

The paradigm.. Its a huge problem here..

This is why I keep saying that I'm looking for traders with good win rate..

Hard to find here.. but they can be found in loads on many other places..
Hello World!
  • #24,070
  • Feb 27, 2015 11:07am Feb 27, 2015 11:07am
Quoting SunTrader
{quote} My comment on anything demo !#$*$_)((#$@!^$)*+ Seriously just my opinion if real money is not at risk - nothing (money or knowledge) is gained.
Go ahead.. show us what you got?

Show me something? any effort you have made to make this place a better place?

Only blah blha blah????

Any TE with real a/c?

Show me anything..

PS: Rest assured.. I'm working on real accounts to share here.. I've been here for quite some time.. I'll share here.. sooner or later..
Hello World!
  • #24,071
  • Feb 27, 2015 11:14am Feb 27, 2015 11:14am
Quoting ClockTrader
{quote} Have you ever come across a trader who would double the capital with abs. drawdown 0% in no time? The paradigm.. Its a huge problem here.. This is why I keep saying that I'm looking for traders with good win rate.. Hard to find here.. but they can be found in loads on many other places..
In no time with no risk ? You can't. You have to take big risks to do that.

But why you really want to find such people ? Why not focusing on your trading ?

These guys won't learn you anything
COT: The precious data ignored
  • #24,072
  • Feb 27, 2015 11:21am Feb 27, 2015 11:21am
Short at 1216.
TP at 1205.2
No SL
  • #24,073
  • Feb 27, 2015 11:22am Feb 27, 2015 11:22am
Quoting kuroro001
{quote} In no time with no risk ? You can't. You have to take big risks to do that. But why you really want to find such people ? Why not focusing on your trading ? These guys won't learn you anything
Like I said paradigm is a big problem here.. I know 90% of members here are noob types and I hate to say paradigm of seniors is confined too..

> In no time with no risk ? You can't. You have to take big risks to do that.

---->

 

  1. First week - warm-up round.. max risk 0.5 - 1% -- earnings like 5 - 10%
  2. Second week -- earnings can reach 50% by risking the previous earnings
  3. Third week -- money can be doubled or trebled..

I know how hard it sounds.. but, guess what? I'm here to prove what I say.. this is not gonna happen today or tomorrow.. but it will happen here & I'll prove it..

Hello World!
  • #24,074
  • Feb 27, 2015 11:30am Feb 27, 2015 11:30am
Quoting ClockTrader
{quote} Like I said paradigm is a big problem here.. I know 90% of members here are noob types and I hate to say paradigm of seniors is confined too.. > In no time with no risk ? You can't. You have to take big risks to do that. ----> First week - warm-up round.. max risk 0.5 - 1% -- earnings like 5 - 10% Second week -- earnings can reach 50% by risking the previous earnings Third week -- money can be doubled or trebled.. I know how hard it sounds.. but, guess what? I'm here to prove what I say.. this is not gonna happen today or tomorrow.. but...
Have you check the Rags2Riches thread here?

Trying to double your account x times, starting from 50 dollars.

If you're good with Gold trading, you can bet 5 dollars to make 10 dollars (and you can see Gold is moving 10 dollars one way or another everyday (or almost).

Its risky trading, but any scenario worth a shot.
COT: The precious data ignored
  • #24,075
  • Feb 27, 2015 11:34am Feb 27, 2015 11:34am
I know most people here don't like demo accounts, but this is what I was given in the contest.. Total 1900 participants..

On other note.. I would like to see demo accounts with consistent earnings.. Can they be found on internet or anywhere?

I would like to see real too..

Anyone? Only handful on this forum.. my guess..

How many on this thread? plz come fwd.. I would love to appreciate you..
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Hello World!
  • #24,076
  • Feb 27, 2015 12:31pm Feb 27, 2015 12:31pm
CT, instead working on price action and good entry points and different nuances of GOLD movement will be beneficial..

contests and demo can be exciting but we cannot learn from each other.

Just my opinion ...

Quoting ClockTrader
I know most people here don't like demo accounts, but this is what I was given in the contest.. Total 1900 participants.. On other note.. I would like to see demo accounts with consistent earnings.. Can they be found on internet or anywhere? I would like to see real too.. Anyone? Only handful on this forum.. my guess.. How many on this thread? plz come fwd.. I would love to appreciate you.. {image}
  • #24,077
  • Feb 27, 2015 12:44pm Feb 27, 2015 12:44pm
Quoting connect_ananth
CT, instead working on price action and good entry points and different nuances of GOLD movement will be beneficial.. contests and demo can be exciting but we cannot learn from each other. Just my opinion ... {quote}
I'm trying to stretch the paradigm of fellas about the possible losses & profits which seem not practical.

Apparently, you have missed many previous posts of mine, I'm not here to teach how my analysis works.. I have justified that before.. plz read old posts..
Hello World!
  • #24,078
  • Feb 27, 2015 3:06pm Feb 27, 2015 3:06pm
Quoting connect_ananth
CT, instead working on price action and good entry points and different nuances of GOLD movement will be beneficial.. contests and demo can be exciting but we cannot learn from each other. Just my opinion ... {quote}
Actually all depend on how individual look at things. You learn a thing or 2 from contest, and also train you to be better.

In a highly competitive contest, win rate is nothing. To move your place and remain on the top, you need to be quick to grab any possible opportunity and make more than your opponents. You need to be quick in decision making. You need to be right on entry and exit most of the time to increase your profits. You need to take risks for 100% capital exposure in order to make more than your opponents. Lot of factors to make you to the top. And concentration is very important. 1 bad and unrecoverable trade, not only destroy your account, it also demoralise you thru out the contest.

Eg the below charts, if a trader trade it normally from left to right, the profits are only $X, if you catch all the top and bottom and kept increasing your lot size using your netted profit, you make $X * Y.
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The only winner is the one who survive the longest...
  • #24,079
  • Feb 27, 2015 4:25pm Feb 27, 2015 4:25pm
It is ego stroking - nothing more.
  • #24,080
  • Feb 27, 2015 10:53pm Feb 27, 2015 10:53pm
Here are a few things that I learnt while competing in this contest

 

  1. There are 10 times better traders than me. I can deeply see & feel the stats/numbers of the toppers.
  2. Not only the toppers are precise like space scientists, but, they are daring too. (like you explained)
  3. Merely good skills + being daring won't help.. They are super-confident too.. they know what they are doing.
  4. I feel more liberal now while sharing calls. I feel more confident. Its all coz of the contest.
  5. It has improved my psychological understanding of trading.

You are right, under pressure & in order to outperform others one could easily blow his/her account. I've handled this pressure by far in a subtle manner.

Lately, my objective has been to maintain what I have achieved by far i.e. to remain in top 100

IF I look only at Gold traders, I think I have a nice & humble ranking on global level. Of course its theoretical & by far through demo/contest account only, real life challenge would be different.


Quoting kinspk
{quote} Actually all depend on how individual look at things. You learn a thing or 2 from contest, and also train you to be better. In a highly competitive contest, win rate is nothing. To move your place and remain on the top, you need to be quick to grab any possible opportunity and make more than your opponents. You need to be quick in decision making. You need to be right on entry and exit most of the time to increase your profits. You need to take risks for 100% capital exposure in order to make more than your opponents. Lot of factors to make...
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