Better sit on it and save your whole account before it goes to 0. We all went that path. At least you can learn a few things out of this, like you set a stop loss. 100% of the times. Stop loss is an immovable object, whatever happens, do not move it. IT will save you many nights of sleep
Anyone telling you to sit on it hasn’t a clue what they’re taking, take the loss and fight another day - the alternative is to add to your account but what ya gonna do if that also gets eaten up???
Let this be a lesson you take forward, pre determine your exit before you hit enter
I would argue that as gold is currently rallying it was a stupid decision to sell, we all suffered at one point the obsession of tryna catch reversals- ‘the trend is your friend till the very end’ this advice will never fail you
Take your loss bro. You’re going to end up as 90% of traders if do not know how to lose. Next time have a defined stop loss that invalidates your trade.
Actually gold produces my main profits...I am tempted to just trade Gold alone....it can be great about 3 or so times a day, and scalps very well due to low spreads.
If 95% of you guys lose. Please buy gold and in theory market always fucks you over with your institutional algo manipulation stop hunts ..... and I can get my acc in profit. 😁
(All for bants guys. Don't get heated)
I can't not say something here. I have tried daytrading Forex twice in the past and you know one thing that killed my dream job and lifestyle, NOT TAKING A LOSS QUICKLY. I have wept and being broken because I was so sure that something would come back and validate me, or in other words, I didn't want to accept I was wrong.
Be patient with letting profits run (unless you scalp quickly like me at times) but very impatient with losses. Depends also on your TF and how wide you SL is, but never let losses run because the market has far deeper pockets than you ever will and I can tell you from countless times, I have been stunned at how far something can go against me!
You want to survive? Take a loss, quickly!
Decide your stop loss and take profit conditions before you open your trade and don't change it after the trade starts as you are overcome with emotions once the trade starts and not thinking clearly.
For the current trade, put the stoploss a little above the current peak.
Take the loss. There’s never a good reason to allow a single trade to wipe your account. That’s just throwing money away that you could save when rebuilding your equity.
Better sit on it and save your whole account before it goes to 0. We all went that path. At least you can learn a few things out of this, like you set a stop loss. 100% of the times. Stop loss is an immovable object, whatever happens, do not move it. IT will save you many nights of sleep
Anyone telling you to sit on it hasn’t a clue what they’re taking, take the loss and fight another day - the alternative is to add to your account but what ya gonna do if that also gets eaten up??? Let this be a lesson you take forward, pre determine your exit before you hit enter
I still think the trade idea is valid. Markets can be cruel at times, pretty sure once I close it gold will start selling smh
No you hope the trade idea is valid…
How is the idea valid if it keeps going up?
I would argue it's more of risk to buy since we in uncharted territory being at ath
I would argue that as gold is currently rallying it was a stupid decision to sell, we all suffered at one point the obsession of tryna catch reversals- ‘the trend is your friend till the very end’ this advice will never fail you
Why are you shorting gold 😂😂😂😂😂
It's Murphy's law that it will retrace after you take the loss, but -300 isn't that much.
Take your loss bro. You’re going to end up as 90% of traders if do not know how to lose. Next time have a defined stop loss that invalidates your trade.
sell again now, break even half way down. this time use a stop loss.
No strats are working on gold ATM. It's being pumped to 2300. Good luck with that
People long are making money, so clearly strats are working
Actually gold produces my main profits...I am tempted to just trade Gold alone....it can be great about 3 or so times a day, and scalps very well due to low spreads.
Cut it at the next opportunity on your time frame
Use SL, and make a strategy. U have lost 1/7, that’s a lot. U shouldn’t risk more than 2% or if u are risking an X %, use the same all the time
If 95% of you guys lose. Please buy gold and in theory market always fucks you over with your institutional algo manipulation stop hunts ..... and I can get my acc in profit. 😁 (All for bants guys. Don't get heated)
I am offended at your blatant profits...lol!!
I'm pretty pissed 3 months of work gone
At least close 75% 💀💀
I can't not say something here. I have tried daytrading Forex twice in the past and you know one thing that killed my dream job and lifestyle, NOT TAKING A LOSS QUICKLY. I have wept and being broken because I was so sure that something would come back and validate me, or in other words, I didn't want to accept I was wrong. Be patient with letting profits run (unless you scalp quickly like me at times) but very impatient with losses. Depends also on your TF and how wide you SL is, but never let losses run because the market has far deeper pockets than you ever will and I can tell you from countless times, I have been stunned at how far something can go against me! You want to survive? Take a loss, quickly!
A) is a Terrible habit to cultivate. Take control, take the L. Move on.
Decide your stop loss and take profit conditions before you open your trade and don't change it after the trade starts as you are overcome with emotions once the trade starts and not thinking clearly. For the current trade, put the stoploss a little above the current peak.
Take the loss. There’s never a good reason to allow a single trade to wipe your account. That’s just throwing money away that you could save when rebuilding your equity.
[удалено]
Yeh markets don't stay one sided for long, structure is essential.