Gold

The bulls keep winning?

From my pov i will look for sell from 3350 to 3321

How to insure that you never lose money in trading :-)

There is one thing you can do, irrespective of your Entry methodology that can ensure that in the long run (100+ trades) you don't lose money. It is valid for all short term trading, short would be day trading/days trading. Its a simple idea but if you follow it, it can make sure you don't blow up your account ever.

Rules to follow is :
1.Never increase your initial SL ever.
2.Systematically decrease your initial SL whenever your trade moves in profit.

No matter what your entry criteria is : Fundamental, News, Technical, Mathematical, Random, Emotional... if you just follow the above two rules, you will magically find that after a some number of trades (30-40) you will always be not in loss... (and in good profit if your entry criteria has some edge)

Rule 1 is fairly obvious, as far as Rule 2 goes, the key word is Systematically... that is have a system (a mechanical process, set of rules) of doing it. Its not a good idea to analyse the market after your are in the trade, for most of us this will never be consistent. You can analyse as much as you want till you take the trade/entry, but once you are in the trade, the very fact that you have stake in it, changes your brain/perception capabilities. So decide before hand a system which you will use to close in SL, as the market goes in your favour (which is mechanical).

In the trades I put here, I am following a very simple way:
For illustration. Say you enter long at 100 and initial SL is 97, if the price moves to 102 (2 points) you move the SL to 98 (1 point), next if the price moves to 103, you move the SL to 99, if price moves to 104, you break even and then you can stop (or continue). You can have any other logic, step size, it doesn't matter as long as you do it every time and without analysis.

After break even, you can follow any way of exiting you want. With a fix TP or trailing SL or time exit (end of the day/session etc.).

Just try and follow this simple rule in whatever methodology you are following and see for yourself in a months time (whenever you have taken 30-40 trades with that methodology) see how it will always keep you on the positive side of trading

For people interested in knowing the theory/philosophy behind it, you can read some of Prospect Theory (Dan Kahneman, got Nobel Prize for it). Basically you have to be Risk-Averse in Loss and Risk-Seeker in Profit instead of default human setting of Risk-Averse in Profit (Cutting/Booking your profit) and Risk-Seeking in Loss (hoping it will come back)

Those who flood social media with daily or weekly “profit” screenshots are often drowning in deep red behind the scenes. Flashing a few green numbers means nothing if your overall equity is bleeding. Real traders know that consistent profitability isn’t proven in cherry picked snapshots, it’s proven in transparency. If you’re truly profitable, stop hiding behind selective posts and put your Trade Explorer or verified statement out there for everyone to see. That’s the only proof that matters. This isn’t a playground for ego stroking, it’s a business where maturity, discipline, and truth separate the real from the fake. Stop playing dress up as a market wizard when you’re barely holding your account together. We don’t need fairy tales, we need facts. Either show the full picture or admit you’re selling illusions. Grow up, act like a professional, and let your track record speak louder than your screenshots.

Well said, great methodology

Long from 3336.40... Key resistance 3349–3355, then 3360. Watching USD news today before Alaska meeting could decide whether gold breaks higher or stalls.

where is your SL?

i closed it plus few $ 5 min ago
i will focus GU for now that im holding since yesterday.

Dxy chart

Where is the market heading today?
The market itself doesn't know. It depends on the number of incoming and outgoing orders, and therefore how much the market maker will make. That's the truth.
Today is Friday, and many are betting on reaching 3380... but I see a chance of reaching 3300 or even lower, perhaps until Monday...
Anyway... be prepared for any scenario... that is all.
Today is Trump-Putin meeting... let's see
Trade safe guys...

Interesting Phase again not letting people exactly what is the actual direction hahahhaha but i am on the buy side from yester low 3332 targeting 3365 at least

I have a feeling based on the weeks range that we could struggle to convert 3360 unless there is some kind of geopolitical news. Normal data seems to limit any moves.

How do we know what happened at the meeting? Trump will have some press conference afterwards or what?

isn’t the meeting later on today

That's my question also!!

Closed

Look forward to seeing your 1st chart post and what you have to offer, now that you have used only your second post to disparage anothers efforts.
Your sign off "all praise to God...." is it one of the hundreds of well known god's or maybe a forex god? Something new?
Anyway look forward to your charts, which im sure will have a god given edge we can all learn from.

12 hours from now, then a lunch then a press conferenece. will be after market closes

Though each trader has their own style but an important way folks to limit SL hunts is by not setting a SL, not a fixed one.
Many complain from time to time that their broker or market hunted their SL. No SL No hunt.
Many execute trades according to a timeframe but set SL before that timeframe ends and a new one starts, or trade based on high timeframes but set SL as if trading lower timeframes.
Another main problem is setting SL at supports and resistances, well that's a fatal amateurs error.

For example: If Gold resistance on daily is lets say today 3347 and possibly 3356, first you can't set SL like at 3348 and not even 3356, you have to wait for the daily candle to close then manually close your order only if price settles above and retracement is somehow not seen possible to your entry price.
Imagine you have set SL in all recent daily candles of Gold, you could have always lost while Gold ended the day candle at low.
Same if trading at weekly resistance or support, you wait for the weekly candle to close, ofcourse still monitoring price action to see if there's a clear pattern moving against you or not.

So try to think differently by setting a manual SL to limit being always hit hard while market price goes back to your entry price and even in profits...

***This might sound so difficult or confusing to apply, but the market is a killer, you have to think of even more than that..like a 100 of options/ideas/probabilities or else you'll get hit hard almost every single time***

latest gold open interest and volume showing lack of participation with ptz.gold ssr sdz nd test eg ndns day and 4h ptz.please share your view too.thanks.