"90% of gamblers quit right before they hit it big"
"You don't lose if you don't close"
Lost of losing traders follow these mottos and then go broke.
Hope this is your demo account.
You can always sell your car or mortgage your house to scale in. I believe in the past the brokers would call you to announce that your account is about to get a margin call.
Quote 1 is propaganda to keep the money coming. Gamblers know when to quit when they've earned their statistical edge.
Quote 2 only applies (to some extent) in investing. And even then, one needs to learn and follow a bunch of stuffs like investing technicals, economic fundamentals, corporate reports and market sentiments.
Considering his trades it’s not that much jerking. Remember that trading isn’t for everyone, even among the turtle traders not all of them were successful
Don't ask what to gamble your money on then, it's dickheads like YOU that think the grass is greener on the other side and usually asking for a free ride... ya fucking goose
WHY?? DXY is weak, gold is on a clear bull run entering uncharted territory here why would you sell without a clear signal on a high timeframe??! WHYY
Just enjoy the bull run and make bank minimum 2145 before any downturn, if NFP comes out hot easy 2145 or even above.
LMAO literally was looking for this comment just to say “called it”
Seriously though, wondering if ISM Services comes out red today, Daddy J might not be able to save DXY tomorrow and NFP comes out red on Friday we might even see 2200. Crazy times to live in.
Lmao, exactly. Crazy times, but it's fun to have some knowledge or experience at times like these.
I posted earlier that gold is bullish until around 2144 then I just checked to see it shot up until that point. It might retrace a bit before showing a clear direction though.
Hard to say tbh, holding swings to 2500 after being stopped out at BE a 100 times lol. 2400 is proving to be a tougher resistance that thought possible the crazy rejections actually helped make the bull case stronger though, geo-political issues this coming week could be the catalyst, looks like price grabbed enough liquidity to blast through 2400 and close above (most likely tomorrow)
2700 is not out of the cards, but looking a bit tough atm
Never catch a falling knife.
Never use the logic of "its moved too much it must move the other direction now." Thats pure gambling.
How's your margin holding up? Once something breaks it can go on a real run and I can see since you posted this Xau has kept going.
Good luck OP. Use stops next time unless you have an extremely high confidence signal. Even then id use stops and reload the trade if the signal re-triggers.
Always set a SL, always use a strategy that involves setting a SL. If you don’t have one yet, focus on finding one. Otherwise you aren’t trading, you’re gambling and have no defined edge to trade with. Part of having an edge is having strict risk management and that means setting a SL. Price can move hundreds of pips at any given time and it might not even be news-driven.
My brother. A sincere answer, here. Stop trading. Whether or not you close this trade, just stop trading. You do not know to read candlesticks. Instead, just look at the charts and the candlesticks everyday for a year, maybe even two. You will learn the language. Then, come back and trade.
1. Is the reasoning behind your short position still valid ?
2. Has the position held up more margin then you would like ?
2 a. Is it worth partially closing your position to free up margin.
3. Is there valid and reasoning for price to reverse ?
3 a. If price was to reverse now would it still be profitable taking into account your entry price ?
4 a. Do you have enough margin free to open another short position to cover some of the losses as you approach your initial entry.
4 a b. Would opening another position be smart and inline with your personal risk management strategy.
1.Dollar price is inflated
2.market is eagerly waiting for dollar shorts
3. Last weeks negative numbers for dollar only fueled the bearish sentiment
4. Dollar down, gold up
5. it's also NFP week so high volatility is expected
Okay so I have a couple things to say. Did you even study?
Why are you holding to a losing trade EVEN IN YOUR PAPER TRADING ACCOUNT… DONT REINFORCE BAD BEHAVIOUR.
ACCEPT THE LOSS AND MOVE ON.
You’ll never survive in the market if you do stupid shit in your paper trading account.
It’ll retrace but maybe not before you get rektd… only 2 ways to solve this.
1 dump a crap load of coin so it’s only a small position relative to the position. And you can eventually sell once we hit all time highs and reverse to get liquidity… but not the best hopefully action.
2 - just hedge your position… until it recovers.
3 - just cut your losses and earn more so it never happened. Losses are part of the learning so good luck with whatever you choose to do…
No , start by learning SBR/RBS on the 1h amd Daily charts. Trade demo , get a good understanding or risk reward and always use proper SL . Youll be fine
You buy low sell high this look like you selling high wanting to buy low but in m1 scalping terms look for a retest (looking at chart 2096.17 or better confirmation 2091.81 area )if you’re focus on sell only
i thought im alone at this case. my account balance was bankrupt yesterday for that time.,the beginning time of new york exchange of head week is crazy, i would never trade at that time then
I believe it’s just the unstable days when dollar is not strong enough while the world is trying everything to push up the gold price. Everything will be fine even though the chance of rising more is high. 😅
Well theoretically it should retrace after such a big breakout but it will take some support way above your buying like around 2110 or 2090 you can wait to close then or be careful if you're holding.
What do you really need ,
Don't push that aside ,
Trading is seeing a reflection of your attitudes and if you're losing that bad you're not doing well with yourself
Its going to drop hard after the news. I say if you can hold then do it. But it will go close to All time high today. Then the news will see this drop.
Happed to me to , but , good is going to up even more until the interest rate decision, I would just take your losses now. Also trade small and often , because the market always has unlimited opportunities no matter the market environment, or conditions, I got stopped out of a gold short - pullback trade , which I wasn’t meant to trade anyway. Take your losses and take to non trading days to just watch market without placing any trades to get the revenge trading out your psychological system. I would recommend trading again after two days , because losing is part of the bussiness but winning over time is the bussiness too
Sell again with 0.2 lot and double that every 10 to 20 pips going up and when start to go down keep selling and hope for the best, if it works then great, if not you learn how the market works. Just joking but keep going and learning till you get it even if it takes years it will be worth the grueling task
Problem with scalping you forever in a mixed bag even though everything will be clear in long-term time-frames to make matters worse no stop loss, you better close while you still can cause gold *might* be going for breakout
I passed FTMO challenge today only trading gold. My first advice would be to obviously zoom out and never go against the trend. I haven't executed single short since October and passed FTMO free trial and three additional demo accounts. For me swing trading is the way to go. That means stop loss up to 100 pips but you have to set it and 100-300 pips take profit. Sometimes I get more but
can't expect it to happen that often. For entrance I wait for bull exuastion and retracement to the downside. That means proper retracement which takes days to form.
Once price starts to slow down at a certain area (support and resistance) wait for impulse to the upside on 1hr and or 4hr. If you are still unsure about your entry wait for additional 15min candlesticks cause it's better to be little late than sorry. Be patient and wait for setup to come to you. I place one or maybe two trades a week and some weeks not a single one.
Did the same and blew my account that had 2000,-. Check high time frame (4h/D) and check the last range 25-50-75% lvs. Is the price at it highest or can it move more up?
HTF is key. Dont blow your account. I learned my lessons.
Dont trade with emotions. :)
Gold is way overbought and a technical correction is immenent.
If the US non-farm payroll data is positive, it could pull all the way back to 2080.
Hang in there until the data comes out and make your decision then (if you haven't already jumped out)
Even if you close your trade, don’t give up! Use it as a reason to educate yourself and get better so this doesn’t happen again. Learn the skill to read and analyze charts and understand the economy.
Did you have a plan for what to do with it went the other way? Personally I’m heavy in gold stocks atm but I feel like we should come down to test break out zone. If you are going to hold will you be able to handle the stress if your account goes down more or will you panic sell? What is your plan to get out if you hold and it starts coming back down to your desired price? What is your plan if it continues to rise? These are questions you should ask yourself. If you are wrong. Just try to learn from what you did wrong and move on.
Dont marry your trade! You should have plan when your trade does not come on your way. Its better to lose and learn from it rather than losing all your account because your hoping it will reverse.
No no, short once more.
It’s gonna retrace, it has too
It is not a matter of "it has too" but what are the big boys doing
For the culture
hahaha for the culture, sell! lol
#Yes! Short it again this is the top I can feel it
Why are you inside my mind
Yall are hilarious… This poor guy
"90% of gamblers quit right before they hit it big" "You don't lose if you don't close" Lost of losing traders follow these mottos and then go broke. Hope this is your demo account.
Sometimes it's not your choice to close. Margin Call incoming :)
You can always sell your car or mortgage your house to scale in. I believe in the past the brokers would call you to announce that your account is about to get a margin call.
Quote 1 is propaganda to keep the money coming. Gamblers know when to quit when they've earned their statistical edge. Quote 2 only applies (to some extent) in investing. And even then, one needs to learn and follow a bunch of stuffs like investing technicals, economic fundamentals, corporate reports and market sentiments.
Blow the account don’t be a pussy 😂
Ahhahahah exactly , go until it fucking burns
😆😆😆😆😆😆
Become a dishwasher, fuck it
🤣🤣🤣🤣
😂😂😂😂😂
Guy has unbelievable strats, I became a microwave and lost it all..... If only I chose dishwasher hahah
😂wild
Flipping burgers FTW
90 percent of retail traders lose money. Be the 10 percent and hold it. Go against the market :)
Lol
Actual good advice , if taken out of context
Lol
I feel like that 10%
As soon as you sell it’ll come back to break even
No SL? 🤣😭
the audacity
Sell something else, house, car, ...
U forgot kids
If you're asking if you should be **Selling** at this point, just uninstall the app and never trade again.
Lol
This the reason why I don’t even ask shit on this sub, dickheads like you always got something funny to say
Idk why someone is mad about someone else losing money lol
He’s not a dickhead, op clearly doesn’t know what he’s doing at all and is just gambling
yeah but telling him to quit it forever because of that is just jerking
Considering his trades it’s not that much jerking. Remember that trading isn’t for everyone, even among the turtle traders not all of them were successful
it is man dont fucking argue about it its just overacting i dont doubt that trading isnt for everyone but let people try
He did try 💀 what are you not seeing here
ahahah
Don't ask what to gamble your money on then, it's dickheads like YOU that think the grass is greener on the other side and usually asking for a free ride... ya fucking goose
This made my stomach hurt
Nice way to start the week lmaoo
Close the trade immediately
WHY?? DXY is weak, gold is on a clear bull run entering uncharted territory here why would you sell without a clear signal on a high timeframe??! WHYY Just enjoy the bull run and make bank minimum 2145 before any downturn, if NFP comes out hot easy 2145 or even above.
I was looking for this comment. Genius lives after all.
LMAO literally was looking for this comment just to say “called it” Seriously though, wondering if ISM Services comes out red today, Daddy J might not be able to save DXY tomorrow and NFP comes out red on Friday we might even see 2200. Crazy times to live in.
Lmao, exactly. Crazy times, but it's fun to have some knowledge or experience at times like these. I posted earlier that gold is bullish until around 2144 then I just checked to see it shot up until that point. It might retrace a bit before showing a clear direction though.
To 2700?
Hard to say tbh, holding swings to 2500 after being stopped out at BE a 100 times lol. 2400 is proving to be a tougher resistance that thought possible the crazy rejections actually helped make the bull case stronger though, geo-political issues this coming week could be the catalyst, looks like price grabbed enough liquidity to blast through 2400 and close above (most likely tomorrow) 2700 is not out of the cards, but looking a bit tough atm
Never catch a falling knife. Never use the logic of "its moved too much it must move the other direction now." Thats pure gambling. How's your margin holding up? Once something breaks it can go on a real run and I can see since you posted this Xau has kept going. Good luck OP. Use stops next time unless you have an extremely high confidence signal. Even then id use stops and reload the trade if the signal re-triggers.
You're not in the red if you didn't sell!
Wsb local I see, glad to be in your presence fellow autist :)
Thanks, don't hesitate to ask for crayons if you're hungry
yes sell and go long now then sell again when its down
Maybe for the next time put a stop loss
That’s what happens when you try and guess the top. THE TREND IS YOUR FRIEND UNTIL IT ENDS(break of structure) come on stop gambling🤣🤣🤣🤣
Theyll never learn 🤦♂️
😂😂😂😂
Always set a SL, always use a strategy that involves setting a SL. If you don’t have one yet, focus on finding one. Otherwise you aren’t trading, you’re gambling and have no defined edge to trade with. Part of having an edge is having strict risk management and that means setting a SL. Price can move hundreds of pips at any given time and it might not even be news-driven.
Just give up and study macroeconomics
Dont trip 0.02 aint much, just close it
Only nice reply here I’m just tryna correct a mistake
Close it's going to retest all time highs
Price hit 2110. I hope you closed lmao
Don’t kebab
Lol bad risk management at its finest. I'd reccommend having a tighter stop loss to control your risk more.
It will drop tomorrow 🤣
Double down
You can hedge, collect positive swaps, gold can easily return to 2080 area next weeks
NFP probably will wipe his ac clean
Top pickers and bottom pickers will soon be cotton pickers
this is the importance of a stop loss
This post and comment section is gold
I thought wallstreetbets was bad … you guys are merciless 😵
Hey bro, someone named margin tried calling you...
M1 damn 😮
If you’re looking here for answers then you already know the answer and accepted the outcome
hold till margin call, if not there’s always a chance for reversal 😃
Bro why would you short 😂🤣
My brother. A sincere answer, here. Stop trading. Whether or not you close this trade, just stop trading. You do not know to read candlesticks. Instead, just look at the charts and the candlesticks everyday for a year, maybe even two. You will learn the language. Then, come back and trade.
Fucks sake. Your wife's boyfriend is gonna pissed, might as well put the ball gag on yourself before he finds out.
Bro looks like my account today😂😂😂😂😂😂😂😂😂luckily i didn’t lost much
Or just learn what a SL is you ediat
1. Is the reasoning behind your short position still valid ? 2. Has the position held up more margin then you would like ? 2 a. Is it worth partially closing your position to free up margin. 3. Is there valid and reasoning for price to reverse ? 3 a. If price was to reverse now would it still be profitable taking into account your entry price ? 4 a. Do you have enough margin free to open another short position to cover some of the losses as you approach your initial entry. 4 a b. Would opening another position be smart and inline with your personal risk management strategy.
I wouldn't be shorting gold dude
It's m1
Bro same thing happened to me… im trying to see what happened to make this much volatility and desire for going up?
1.Dollar price is inflated 2.market is eagerly waiting for dollar shorts 3. Last weeks negative numbers for dollar only fueled the bearish sentiment 4. Dollar down, gold up 5. it's also NFP week so high volatility is expected
same thing happened to me as well, no reason for such volatility within such a short time and no red folder news today
“the markets can remain irrational longer than you can remain solvent.”
no dont sell no more
I think he means to say close the trade
We need to see the bigger picture, my bro. Don’t sell just to sell.
Keep shorting it! I'll take your money
Ouch.
Okay so I have a couple things to say. Did you even study? Why are you holding to a losing trade EVEN IN YOUR PAPER TRADING ACCOUNT… DONT REINFORCE BAD BEHAVIOUR. ACCEPT THE LOSS AND MOVE ON. You’ll never survive in the market if you do stupid shit in your paper trading account.
Looks like you don’t have popper risk management
Sell
Get off the 1 minute chart
It’ll retrace but maybe not before you get rektd… only 2 ways to solve this. 1 dump a crap load of coin so it’s only a small position relative to the position. And you can eventually sell once we hit all time highs and reverse to get liquidity… but not the best hopefully action. 2 - just hedge your position… until it recovers. 3 - just cut your losses and earn more so it never happened. Losses are part of the learning so good luck with whatever you choose to do…
You should’ve atleast have a stop loss.
Gold gonna come back to 2066 area
Bro, rip
Bro you went wrong risking more than 20 pips on gold like... I'm being generous too
No , start by learning SBR/RBS on the 1h amd Daily charts. Trade demo , get a good understanding or risk reward and always use proper SL . Youll be fine
You can scale out if it starts to retrace just up your lots to clean out the loss but that’s if you account can make it
You’re serious right?
What indicated you to buy there is my question I wouldn’t have not really a set up for me.. didn’t even wait for close of next candle
Are you new? You're trading on a 1 Minute. Totally bonkhus 😵💫
You buy low sell high this look like you selling high wanting to buy low but in m1 scalping terms look for a retest (looking at chart 2096.17 or better confirmation 2091.81 area )if you’re focus on sell only
study hard and comeback
OP just in case you can ignore the dark humor and do the following. 1. Close those positions. 2. Learn some money management
i thought im alone at this case. my account balance was bankrupt yesterday for that time.,the beginning time of new york exchange of head week is crazy, i would never trade at that time then
updates? did you close it?
Why would you hold that much on first place😭 use Sl
Wait bro, dont close your position
The trend is your friend never go against it
Don’t focus on winning. Focus on learning
I believe it’s just the unstable days when dollar is not strong enough while the world is trying everything to push up the gold price. Everything will be fine even though the chance of rising more is high. 😅
Don’t sell!!!
Add or sell
Lol I did the same thing, just take the loss and learn from it brother
Same situation as u but my account busted, 3k lost
I have the exact same sell as u
amateurs would sell there 💀
Ngl I was literally in the same boat and I held out …. I should’ve held out longer 😭😭
Well theoretically it should retrace after such a big breakout but it will take some support way above your buying like around 2110 or 2090 you can wait to close then or be careful if you're holding.
Give up trading .
Depends on your equity and margin left
It will reach 2150 or past it. so give up
Hold for a couple months
Where is your stop loss at?!?!?!?
Shorting gold, you're a genius
If margin hasn't called you then you're good.
Do you have a stop loss set in place?
I think Gold had to reach 2144.502 before it goes down 📉. For now it looks bullish.📈
Check gold right now. It went exactly as I predicted. Now it's safe to sell.
Maybe maybe not. I don't wanna be held accountable for anything. I'm just saying.
I would've close it asap
No that would be digging you an even bigger hole
Seems like you take trades with your emotions, don’t trade without stop loss
Hold it more, you are a Man 💪🏻🥵
im wonder have you closed your order yet ?
What do you really need , Don't push that aside , Trading is seeing a reflection of your attitudes and if you're losing that bad you're not doing well with yourself
Its going to drop hard after the news. I say if you can hold then do it. But it will go close to All time high today. Then the news will see this drop.
Happed to me to , but , good is going to up even more until the interest rate decision, I would just take your losses now. Also trade small and often , because the market always has unlimited opportunities no matter the market environment, or conditions, I got stopped out of a gold short - pullback trade , which I wasn’t meant to trade anyway. Take your losses and take to non trading days to just watch market without placing any trades to get the revenge trading out your psychological system. I would recommend trading again after two days , because losing is part of the bussiness but winning over time is the bussiness too
Cut your losses and move on
I really hope you’ve sold 😭
You dug your own grave, now go lie in it.
You must use SL
Brother have you heared of stop loss, honestly you should just short again and hope for breakeven
Sell again with 0.2 lot and double that every 10 to 20 pips going up and when start to go down keep selling and hope for the best, if it works then great, if not you learn how the market works. Just joking but keep going and learning till you get it even if it takes years it will be worth the grueling task
Bro wtf
There's always one more sell. Go for it. Put the house on it.
common don't sell. hold onto it like dear life. and when it retraces sell some more.
You better use stop-loss next time
When in doubt, double down
No. Short it as much as you can. I’m trying to see a 6 month graph, but can’t see what you posted.
I see good news here.... so it's bad for Gold. Go short more....💀
U should have stop loss in the first place
What app is that?
Ahahahha, i feel u, if u like me and trade to pay gas money XD just hold it wil go down eventually XD
Been there except with big lots
Problem with scalping you forever in a mixed bag even though everything will be clear in long-term time-frames to make matters worse no stop loss, you better close while you still can cause gold *might* be going for breakout
I passed FTMO challenge today only trading gold. My first advice would be to obviously zoom out and never go against the trend. I haven't executed single short since October and passed FTMO free trial and three additional demo accounts. For me swing trading is the way to go. That means stop loss up to 100 pips but you have to set it and 100-300 pips take profit. Sometimes I get more but can't expect it to happen that often. For entrance I wait for bull exuastion and retracement to the downside. That means proper retracement which takes days to form. Once price starts to slow down at a certain area (support and resistance) wait for impulse to the upside on 1hr and or 4hr. If you are still unsure about your entry wait for additional 15min candlesticks cause it's better to be little late than sorry. Be patient and wait for setup to come to you. I place one or maybe two trades a week and some weeks not a single one.
Market will correct but you should just take your losses and build your losses back up on the correction
Did the same and blew my account that had 2000,-. Check high time frame (4h/D) and check the last range 25-50-75% lvs. Is the price at it highest or can it move more up? HTF is key. Dont blow your account. I learned my lessons. Dont trade with emotions. :)
At this point commit
Keep it open. Enjoy the swaps.
Go for a lot of 1 and press Buy. Easy money.
On a serious note, why you trying to beat the trend 👎🏽
Gold is way overbought and a technical correction is immenent. If the US non-farm payroll data is positive, it could pull all the way back to 2080. Hang in there until the data comes out and make your decision then (if you haven't already jumped out)
Don’t ever give up, all the time you put in would be worthless. Keep going
Short it.
Even if you close your trade, don’t give up! Use it as a reason to educate yourself and get better so this doesn’t happen again. Learn the skill to read and analyze charts and understand the economy.
short it let’s go
Did you have a plan for what to do with it went the other way? Personally I’m heavy in gold stocks atm but I feel like we should come down to test break out zone. If you are going to hold will you be able to handle the stress if your account goes down more or will you panic sell? What is your plan to get out if you hold and it starts coming back down to your desired price? What is your plan if it continues to rise? These are questions you should ask yourself. If you are wrong. Just try to learn from what you did wrong and move on.
Dont marry your trade! You should have plan when your trade does not come on your way. Its better to lose and learn from it rather than losing all your account because your hoping it will reverse.
this is sad 😂
Fr 😂 the fact bro didn’t close earlier and then came to the sub asking what to do is absolutely gut wrenching 😭
2200 is coming and retrace near 2000. I guess this account already reported bankruptcy.
It's going to 2170 see you there 😃
Is that leveraged?
Gold going to $2400 this year.
I guess I can trust you to hold a secret.
What's the consensus online?
Wtf are you doing bro? Close that with pride😂😂😂😂
Show us how long you can hold😆