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  • #35,061
  • Jun 27, 2024 7:56am Jun 27, 2024 7:56am
Quoting Mak0001
peeps, recommend a good broker please?
exness or fbs
GREATEST WISDOM AND POSITIVE ENABLEMENT COMES FROM ALMIGHTY GOD
  • #35,062
  • Jun 27, 2024 7:59am Jun 27, 2024 7:59am
[quote=NextElliott;14913944]
Quoting Zebi
{quote} {image}
next Elliot, I think I saw your long term view you talk about 26.6.. yesterday. Very bearish.
  • #35,063
  • Jun 27, 2024 8:10am Jun 27, 2024 8:10am
[quote=Whale;14914235]
Quoting NextElliott
{quote} next Elliot, I think I saw your long term view you talk about 26.6.. yesterday. Very bearish.
By around 6th July, 2375 or 2340.. from around 6th July to 11th July expecting strong bearish drop..
I'm not always right.. I'm not always wrong neither
  • #35,064
  • Jun 27, 2024 8:13am Jun 27, 2024 8:13am
Hi guys, go to traders, do you think gold will go down to 2280 or not it will reach 2351?
  • #35,065
  • Jun 27, 2024 8:29am Jun 27, 2024 8:29am
@nextElliot , the quote is messed up.

good luck, I’m not gann or Elliot waves traders but i was, until I got it is not for me.
I use price action, and price action trader do not know to time the market. I admire if you think you do and it work for you.

4h is down structure and this is the right time to risk short with low risk.
  • #35,066
  • Jun 27, 2024 8:32am Jun 27, 2024 8:32am
Short added @ 2330
  • #35,067
  • Jun 27, 2024 8:48am Jun 27, 2024 8:48am
Quoting breaks
{quote} This was a good bet, tho your strategy is long-term; Buying from 2300 was a win
thank you,
we don't bet we trade the Odds,
its all about risk VS reward ratio which most traders don't even consider,
but if they learn just them money management and risk assessment most of them will be bale to actually make profit,
according to one research i read a long term ago,
anyways it worked out well for us this time,
maybe next time i might be wrong,
but its ok
because we see the profit at the end of the month,
even in middle of the month if we have made a decent profit lets say 20% then we risk a little more even if we loose we will still have 15% locked,
traders need ot learn money management,
trust me some day you will remember my post maybe after years and will realize i was right,
Don't compare your Trades with Others
  • #35,068
  • Jun 27, 2024 8:55am Jun 27, 2024 8:55am
Quoting DubaiFX
{quote} thank you, we don't bet we trade the Odds, its all about risk VS reward ratio which most traders don't even consider, but if they learn just them money management and risk assessment most of them will be bale to actually make profit, according to one research i read a long term ago, anyways it worked out well for us this time, maybe next time i might be wrong, but its ok because we see the profit at the end of the month, even in middle of the month if we have made a decent profit lets say 20% then we risk a little more even if we loose we...
Agree.

been there..
We all burned account after account until we realized
money management wins every technical strategy
  • #35,069
  • Jun 27, 2024 9:18am Jun 27, 2024 9:18am
Quoting Whale
@nextElliot , the quote is messed up. good luck, I’m not gann or Elliot waves traders but i was, until I got it is not for me. I use price action, and price action trader do not know to time the market. I admire if you think you do and it work for you. 4h is down structure and this is the right time to risk short with low risk.
My quote always messed up.. Since beginning.. Anyway, gold sell limit 2337.. 2345 for me
I'm not always right.. I'm not always wrong neither
  • #35,070
  • Jun 27, 2024 9:23am Jun 27, 2024 9:23am
Quoting Whale
{quote} Agree. been there.. We all burned account after account until we realized money management wins every technical strategy
i still remember 2007-2209 11 accounts burned then finally i admitted to my self that is the biggest problem,
admiting your mistakes,
it took me 2 years to come out of Denial and then fianlly start learning about money management,

i have seen a lot of accounts got burned even 500K in 2016 i think it was,
6 trillion$ market and people are stubborn and wants quick profit from 1k to 10 in few months,
you can never beat the market,
that is the harsh reality of trading,
traders always try to beat the market,

and Brokers love that, they give you bonus etc, to lure you in so you can loose,
i have posted an article about how brokers make money after 17 years and dealing with 34 brokers learned a lot how they make millions,

and in long term it took me almost 4 years to make my account big enough to become full time trader,
i was lucky to be honest to found few people who are willing to trade with me,
and most of what i learned was by observing why and how they trade,
and as Bruce lee said *you can learn a lot by Watching*
what i learned in forex was its not about what you do, its the other way around,
want to be successful in trading learn what not to do,
Emotions greed etc.
are human nature it, you cannot change and become a robot, that is not possible
but with time and practice it can be controlled,
Good luck guys,
we are done for today hopefully it will drop us to get good entry tomorrow,
PCE is tricky this time, bad CPI good NFP,
Don't compare your Trades with Others
  • #35,071
  • Jun 27, 2024 9:51am Jun 27, 2024 9:51am
Whoever, this will apply.

Today you will make money. Tomorrow you will loose..

Trading with small account. Your trades are very good. When you try bigger. You will wipe anyhow. How¿?

Money always come to you. When you start think it's nothing. Means, your character will not change. Trust me. Love your family. Help to everyone. First start share your knowledge.

Knowledge will increase by sharing. Even if you share your strategy secrets. No 1 will care because of understanding capability.

Very important is. Please don't trade with others money. Whatever it comes to you no one can stop. If you trade with others money. You will get nothing.
SURFER
  • #35,072
  • Edited 2:16pm Jun 27, 2024 9:56am | Edited 2:16pm
Quoting DubaiFX
{quote} i still remember 2007-2209 11 accounts burned then finally i admitted to my self that is the biggest problem, admiting your mistakes, it took me 2 years to come out of Denial and then fianlly start learning about money management, i have seen a lot of accounts got burned even 500K in 2016 i think it was, 6 trillion$ market and people are stubborn and wants quick profit from 1k to 10 in few months, you can never beat the market, that is the harsh reality of trading, traders always try to beat the market, and Brokers love that, they give you...
One must not see how much money one's make or lose when trading. The focus must be consistency in one's trading. And quoting Bruce Lee again, “It is like a finger pointing away to the moon. Don't concentrate on the finger, or you will miss all that heavenly glory.”

The heavenly glory can be likened to your analysis, trade set up and consistently gaining and adding positive pips to your account as the result. Although still important, the finger is the money. Ultimately this is our innermost and absolute goal and to succeed greatly in this field.

In addition and another quoted reference to this, as explained in the Bollywood film, “3 idiots” the actor says,“Don't chase after success, but always chase after excellence”. Success in one's trading automatically follows afterwards. Therefore, let's all be excellent.

Don't look at the money, look at your trading set up and analysis. I have traded live once in 2008 and blown one account. Ever since then, practising the skill of trading on demo account. So far it has improved somewhat better with consistency, but I must continue to improve.

This morning before heading to work on Asia market close and London open, a Buy Stop and Sell stop were placed with One Cancel the Other orders about 300 pip from the last Asia closed/opened candle. It went positive: so I have to try this again and see where price leads to again. Volume with buyers and sellers fluctuates constantly, and then suddenly we see it is either a Bull run or a Bear run.

Although it is something that we are all passionate to become consistent in our trading as a community and may God blesses us with good fortune.

However, I can express that with my work in the care sector and shift work, feeling of tiredness coming home, truthfully there are many times that I don't check the demo account chart. Oh!, how I would love to trade full-time and on live account.

Please see a demo account statement breakdown of trades done in a couple of months and XAU USD 1 hour chart.

May we all traders find the light to greatness in trading.
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  • #35,073
  • Jun 27, 2024 10:12am Jun 27, 2024 10:12am
Quoting NextElliott
{quote} My quote always messed up.. Since beginning.. Anyway, gold sell limit 2337.. 2345 for me
important 4h for bears..
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  • #35,074
  • Edited 10:46am Jun 27, 2024 10:35am | Edited 10:46am
Quoting Whale
{quote} important 4h for bears.. {image}
On Asia market open, which is in some few hours now, liquidity mostly seems stagnant and not to move very much. Asia open it is noted that price also move but not often. If it moves, then great, either on the uptrend or the downtrend.

Let's see what Asia opens does next. Will it be the bulls taking over once more with their volumes of orders, or it's going to be the bears turns now to move XAUUSD price down.

Still be watchful of Asia Market Open liquidity and price movement: see attached chart. Scalping looks to work best when Asia is active due to minute price movement caused by low liquidity with placed orders.
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  • #35,075
  • Jun 27, 2024 11:02am Jun 27, 2024 11:02am
Why this kind of respect for this line in gold 5m?
Anyone knows?
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This is something new and interesting i have ever seen in gold.
  • #35,076
  • Jun 27, 2024 11:11am Jun 27, 2024 11:11am
Quoting NolanFelix
Why this kind of respect for this line in gold 5m? Anyone knows?{image} This is something new and interesting i have ever seen in gold.
Could it be a previously tested support line on the 5-min chart and also near to the Fibonacci 61.8% Golden ratio? See on the chart.

Now you are asking the right question? Ah! Ha!

I would like to know, too.
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  • #35,077
  • Jun 27, 2024 11:14am Jun 27, 2024 11:14am
Quoting krishn
{quote} On Asia market open, which is in some few hours now, liquidity mostly seems stagnant and not to move very much. Asia open it is noted that price also move but not often. If it moves, then great, either on the uptrend or the downtrend. Let's see what Asia opens does next. Will it be the bulls taking over once more with their volumes of orders, or it's going to be the bears turns now to move XAUUSD price down. Still be watchful of Asia Market Open liquidity and price movement: see attached chart. Scalping looks to work best when Asia is active...
Hey @krishn
Could you please send me that indicator that is showing seasons.
send me .ex4 file or mql source file
Thank you
  • #35,078
  • Jun 27, 2024 11:19am Jun 27, 2024 11:19am
Quoting krishn
{quote} One must not see how much money one's make or lose when trading. The focus must be consistency in one's trading. And quoting Bruce Lee again, “It is like a finger pointing away to the moon. Don't concentrate on the finger, or you will miss all that heavenly glory.” The heavenly glory can be likened to your analysis and trade set up. Although still important the finger is the money. Don't look at the money, look at your trading set up and analysis. I have traded live once in 2008 and blown one account. Ever since then, practising the skill...
Hi @krishn,
I can see your result, how you did this?
600% return that is great, what method/magic you are doing?
  • #35,079
  • Jun 27, 2024 11:23am Jun 27, 2024 11:23am
Quoting NolanFelix
{quote} Hey @krishn Could you please send me that indicator that is showing seasons. send me .ex4 file or mql source file Thank you
The market sessions indicators are all here:
https://www.forexfactory.com/thread/...r-tools?page=4. I am not sure of the mql file though, as not my creation.Good luck to you.
  • #35,080
  • Edited 12:08pm Jun 27, 2024 11:30am | Edited 12:08pm
Quoting NolanFelix
{quote} Hi @krishn, I can see your result, how you did this? 600% return that is great, what method/magic you are doing?

Thank you for your observation. However, like I said, I am not at my pc/laptop and trading full-time. I have a job to go to in the care sector that is shifts work, so some days you are feeling tired. Whenever I have a day off, I will analyse the FX market a bit and to place a few trades.

Possibly if I was doing this full-time, then God knows I would have excelled at it. I am not there yet, however with God's grace I am still aiming for consistently being on the positive and optimistic with the process.

I believe it's analysis, know about the session time of the markets, when there is low and when there is massive amount of participants and liquidity to move these prices up and down. Like London or New York sessions. And very important is Price Action and each candle opened and closed and the size of the candle.

Then we also must check candlesticks patterns, market structure, support, and resistance confirmed and previously tested areas etc. It's quite a lot of analysis. However, so very worthwhile in the long term.

And the most IMPORTANT thing ever when putting your hard-earned money that you have saved as an investment figure in your trading journey and this is in capital letters “ALWAYS PUT YOUR STOP LOSS ORDER”, or “STOP LOSS”, or “TRAILING STOP”. I learnt my lesson with my only live account a long time ago as a beginner trader.

Good luck to all of you here.
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