Gold [M5]
Masterrmind..............
Masterrmind..............
Master your Mind then Master your Trades
- #361
- Jul 8, 2019 5:45am Jul 8, 2019 5:45am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
- #362
- Jul 8, 2019 5:52am Jul 8, 2019 5:52am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Gold [M5] {image} Masterrmind..............
Current bias is slightly bullish.
The bears have it at the moment, but I see it as a possible short term pullback and potentially a run up closer to the 1410 level.
Question is where is a good entry ?
Price could easily drift down towards the 1400 level from here or it could bounce off one of these minor support levels.
Masterrmind.............
Master your Mind then Master your Trades
- #363
- Jul 8, 2019 6:01am Jul 8, 2019 6:01am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Gold [M5] Current bias is slightly bullish. The bears have it at the moment, but I see it as a possible short term pullback and potentially a run up closer to the 1410 level. {image} Question is where is a good entry ? Price could easily drift down towards the 1400 level from here or it could bounce off one of these minor support levels. Masterrmind.............
So I'm not prepared to engage at this stage, certainly not at 1 Lot, smaller size followed by additional volume on favorable progress, now then that's a different story and certainly workable.
Masterrmind.............
Master your Mind then Master your Trades
- #364
- Jul 8, 2019 6:03am Jul 8, 2019 6:03am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} If I go long from current price and it drops down to the 1400 handle that's close enough to $400 in DD at 1 Lot. So I'm not prepared to engage at this stage, certainly not at 1 Lot, smaller size followed by additional volume on favorable progress, now then that's a different story and certainly workable. Masterrmind.............
The more I consider current PA the less inclined I am to enter, even with a building strategy starting at low volume.
Reason is I think price will drift down lower and I don't want to be in a longer term DD situation on a fresh account.
Masterrmind.............
Master your Mind then Master your Trades
- #365
- Jul 8, 2019 6:12am Jul 8, 2019 6:12am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
No trades from me today.
See you all tomorrow for hopefully some decent setups.
Masterrmind............
See you all tomorrow for hopefully some decent setups.
Masterrmind............
Master your Mind then Master your Trades
- #367
- Jul 8, 2019 7:32am Jul 8, 2019 7:32am
{quote} Nope ! The more I consider current PA the less inclined I am to enter, even with a building strategy starting at low volume. Reason is I think price will drift down lower and I don't want to be in a longer term DD situation on a fresh account. Masterrmind.............
?
- #368
- Jul 8, 2019 7:43am Jul 8, 2019 7:43am
- Joined Feb 2011 | Status: Trader | 6,018 Posts
{quote} Click on your username (once logged in) at top right. Click 'Settings'; Find your account and Click on 'Edit' Tab; Go to the 'Verification (optional)' section; You will need to copy the myfxbook 'investor password' provided and change your trading accounts 'investor password' to this one. Once completed, return to myfxbook verification page and Click on 'Update Password' Tab and enter the myfxbook password. Then Click on 'Connect' tab to the right which will then check the investor password entered matches the one provided. Give it a few...
- #372
- Jul 8, 2019 11:37am Jul 8, 2019 11:37am
- Joined Feb 2011 | Status: Trader | 6,018 Posts
{quote} Here is a screenshot of my account. Note at the lower section of the page there is the System URL. Yes you will probably have to verify your account and then you can make it 'Public'. After which the System URL will be made available for you to copy and paste here. {image} Do you know how to verify your account on myfxbook ? Masterrmind.............
http://www.myfxbook.com/members/thez...ccount/3398776
- #373
- Jul 8, 2019 9:24pm Jul 8, 2019 9:24pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Does it really make sense?? Gambling the real money???
Many different levels that refer to the thread title.
The idea though is to build up larger volume and take a calculated chance on the back of some buffer profit.
Masterrmind........
Master your Mind then Master your Trades
- #374
- Jul 8, 2019 10:02pm Jul 8, 2019 10:02pm
- Joined Sep 2013 | Status: Trader | 25,137 Posts
{quote} Precisely. Many different levels that refer to the thread title. The idea though is to build up larger volume and take a calculated chance on the back of some buffer profit. Masterrmind........
mate on usd/try the gap on monday is still large the sell swap is just great for traders , the liquidity people will not like this gap on Thursday at triple swaps i have a 5 lot sell swap is $360.oo per day so money to be made by traders just my thoughts
people leave, but this thread will go on for ever
- #376
- Jul 9, 2019 1:48am Jul 9, 2019 1:48am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} OK - success!!
I have added in your systems myfxbook link to Post 1.
Masterrmind............
Master your Mind then Master your Trades
- #377
- Jul 9, 2019 1:54am Jul 9, 2019 1:54am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} not gold related mate on usd/try the gap on monday is still large the sell swap is just great for traders , the liquidity people will not like this gap on Thursday at triple swaps i have a 5 lot sell swap is $360.oo per day so money to be made by traders just my thoughts
Very good information especially considering positive swap.
Unfortunately, not a pair I trade, in fact I don't recall ever having traded that pair.
Nevertheless I will analyze it and present a few charts.
USDTRY [M5]
Spread rather nasty and within a 5 minute recent period the swap ranged from 3.8 pips up to 13.2 pips.
A 5 Lot entry would need to be timed somewhat to reduce initial DD, ie when spread is relatively low.
Otherwise the moment I open the trade, say its 10 pips spread and then after entry it runs away from me another 5 pips, I'm already 15 pips in the hole.
Have to pass on it at this stage as it does not fit within my risk profile.
One of the reasons I trade the majors as the spread is quite good.
Nevertheless on a much larger funded account ie 25K-100K a 5 Lot short on this pair might pay very well indeed.
Masterrmind............
Master your Mind then Master your Trades
- #379
- Jul 9, 2019 2:51am Jul 9, 2019 2:51am
- Joined Feb 2011 | Status: Trader | 6,018 Posts
{quote} Nice work and yes its a bit of a chore getting it all done the first time, I remember it well. I have added in your systems myfxbook link to Post 1. Masterrmind............
Thanks so much. Will try to get going now over the next few and see if I can build up a nice balance!
