It is necessary to put a stop loss when opening a trade in gold.
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DislikedThis is in fact a scalping strategy that takes advantage of mean reversion. As you know price will retrace back to its average....My entries are so insanely accurate that my trades would work out 90% of time within a short span of time.Ignored
DislikedMy entries are so insanely accurate that my trades would work out 90% of time within a short span of time.Ignored
DislikedTook this trade this morning. It was too close to 200ema but since all conditions were met I took this trade to see and show you how it goes. As you can see after taking the trade price retraced to 200ema and bounced. This is why it's a good idea not to open order when 200ema is too close. However, position eventually worked out! encryptedehs {image}Ignored
Disliked{quote} No offense, but actually, price doesn't "retrace" to anything except to previous price levels. A moving average is just that... a mathematical calculation of the price range over a N period of previous bars. Current price retracing to an MA is nothing more than the current price (or current price range depending on the size of N) dropping/increasing sufficiently so that it converges with previous lower/higher price levels that dictates the value of the MA. Price can eventually converge with the MA, but as shown in Navid's back tests, the...Ignored
Disliked{quote} Were you tempted to get out at the circled area, when 200 EMA was hit multiple times? {image}Ignored
DislikedNice profitable trade on your short, when did you exited? My long Entry on Gold Futures. {image}Ignored
DislikedNice profitable trade on your short, when did you exited? My long Entry on Gold Futures. {image}Ignored
Disliked{quote} {image} First entry should be avoided. 2nd entry profit already taken. note: mid bb is not a rocket science. We can close in that area when we feel right. encryptedehsIgnored
Disliked{quote} Did you wait for 2nd entry to touch BB? I am just making sure I understand your 10 years journey with this technique. {image}Ignored
Disliked{quote} no. Closed both trades when price reached around my first entry level in agreement that I made a mistake and I must mend it before I regret. encryptedehsIgnored
Disliked{quote} Got you, so it is a discretional technique with identified building blocks, rather then play by "strict" rules, i.e. rinse and repeatIgnored
Disliked{quote} Strict Rules for everyone who doesn't have incredible amount of chart time in pocket. Once you have that you get to see things before they happen. Know that discretional techniques that work comes from years of practice of following Strict Rules. Follow the rules please! Most importantly use smallest lot size. encryptedehsIgnored
DislikedThankyou encryptedehs for this strategy! i was short Gold and TP in the center line of bollinger band. But i have an question. If the price has move to 50% takeprofit do you move the stoploss to entry? Thankyou so much! {image}Ignored