In other news: the earth is flat. Aliens built the pyramids. And god exists
- Joined Jun 2011 | Status: Trader | 4,906 Posts
A final remark and then I'm off; MT5 shows the support level was hit and is turning back. If it will last is anybody's guess.
{quote} SL hit yesterday late in NY session. Giving another try with sell here with SL 2945. Correction is still on chart unless it breaks out 2943. Breaking 2943 and day close above will get me again towards bulls or will get the bulls again from bottom after correction.
{quote} too bad you missed it, i have been waiting for this from past 2 days to hit 2920-30 so i can sell. anyways drop because it was Extremely oversold, and Weekend also, remember one thing you cannot pay in business in gold you have to use money, its hedge again uncertain times geopolitical but it pays nothing while in today inflationary world Saving is losing to be honest, video is in progress once i have 10 video's completed i will start, dont get much time to create video specially adobe after effects i use to make animations to explain how...
yes, I remember that you anticipated this drop for several days ago.
Gold had been in an oversold condition since early February, so I wasn’t in a hurry for the decline anymore ^^
I'm glad I was busy elsewhere; I think I would have gotten caught otherwise. I still have a lot to learn.
I take note that Fridays have particular dynamics and require special attention.
I suppose many traders close their positions on that day to avoid keeping them open over the weekend, facing uncertainty, or simply starting fresh for a new week.
I completely agree with you on the importance of investing rather than letting money sit idly in a savings account. With inflation, cash loses its value, while a well-diversified portfolio can offer much better returns. Financial education is a real issue, and it’s a shame it’s not taught in schools !
I'm not here to gather entry or exit signals. I don’t like blindly following others
;I prefer to understand, think for myself, and most importantly,
I’d rather lose money from my own mistakes than from those of others.
I came here to enhance my self-taught education in trading.
BiteFX and Elliottway have already introduced us to new concepts (for me) and resources that I’ve been exploring for the past month.
If you have any books or other resources that have helped you in your trading journey,
I’d love to hear your recommendations!
I focus on my own reasoning and tools, but timing and mindset are clearly what I need to improve :
- learning to manage patience
, - and not feel compelled to take a position due to FOMO
. (I believe others struggle with this too; I’ve seen questions on this topic.)
I still have a long way to go, and you, experienced traders, are a valuable source of insight.
It’s true that too much information can overload our decision-making process.
One might think that the more informed we are, the better our decisions, but that’s not necessarily the case.
We could simplify the idea by applying the Pareto principle: 20% of the information is truly useful for decision-making.
That’s why I focus on economic data from this site and my daily news monitoring.
There are always conflicting signals, external influences (like here on the forum), or even cognitive biases.
It’s easy to doubt one's strategy and deviate from it due to emotions.
Failure and mistakes are part of the process, and in my work, we leverage them extensively.
I don’t know if you're familiar with Lean Management in business development or elsewhere, but building resilience in the face of mistakes is key.
Strengthening one’s learning process through iteration and continuous improvement is crucial.
Yes, to make money, you have to survive.
And to survive, do you need a trading plan ?
by the way, you're working on educational videos ? That sounds interesting !
Feel free to share once you’ve finished editing or let us know where you publish your content 
(YouTube or elsewhere).
I’d love to see how you explain these concepts.
until next time,
have a great weekend ! 
- Joined Jan 2025 | Status: A Waltz in the Shadows | 241 Posts
{quote} too bad you missed it, i have been waiting for this from past 2 days to hit 2920-30 so i can sell. anyways drop because it was Extremely oversold, and Weekend also, remember one thing you cannot pay in business in gold you have to use money, its hedge again uncertain times geopolitical but it pays nothing while in today inflationary world Saving is losing to be honest, video is in progress once i have 10 video's completed i will start, dont get much time to create video specially adobe after effects i use to make animations to explain how...
Soros Truth—Survive.
Avoiding loss—that’s the edge.
Money rots daily.
Mindset or Regret.
Your mistakes are my wisdom.
Adapt or Bleed.
Saving is Losing.
Survive first, moon last.
The only thing that works
excited to watch it...
Dancing with Ghosts: Whispers of the VoidPool
Hi, good morning 
Actually, from the start yesterday, I decided to go for a sell or bearish position. Initially, I took a sell position and closed it with profit before entering a buy position when the Asia Killzone ended at 12:00 PM Shanghai time. I took profit on some of the buy positions and set the rest to breakeven. All of the breakevens got hit last night during the New York session as the price dropped.
These are the price levels I would have used for take profit if I had sold yesterday, but I didn’t enter after the New York session began.
As shown in the chart below, these are the take profit levels I’ve marked for a sell position.
2911.94
2900.95
2889.96
2878.97
2867.98
And 4 of those take profit levels were hit. Happy backtesting, and have a great weekend!
Actually, from the start yesterday, I decided to go for a sell or bearish position. Initially, I took a sell position and closed it with profit before entering a buy position when the Asia Killzone ended at 12:00 PM Shanghai time. I took profit on some of the buy positions and set the rest to breakeven. All of the breakevens got hit last night during the New York session as the price dropped.
These are the price levels I would have used for take profit if I had sold yesterday, but I didn’t enter after the New York session began.
As shown in the chart below, these are the take profit levels I’ve marked for a sell position.
2911.94
2900.95
2889.96
2878.97
2867.98
And 4 of those take profit levels were hit. Happy backtesting, and have a great weekend!
NO system selling, only learning, GOLD trading, earning.
- Joined Jan 2025 | Status: A Waltz in the Shadows | 241 Posts
Dancing with Ghosts: Whispers of the VoidPool
Hi, good morning