Provided that the market turns around and closes bullish please be aware that 1358 may be the highest for the day so it is your call to either book profits aorund 1357/58 or leave the position open. My positions are intraday positions and that is why sometimes I leave them open however it does not guarantee any follow through, I say TP @1374 because I expect a gap on Sunday but it may not happen. On intraday positions sometimes I need to close breakeven after 2 days if the trend either up or down is not strong enoguh.
Friday, September 8, 2017
28 comments:
Disclaimer: This site is not intended to provide professional advice nor to lead users to either copy or follow the trades herein posted, it is essentially conceived to share thoughts and ideas for non-professional traders and become a non-official knowledge base for individuals interested in testing and improving their own skills in the spot Gold market.
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I close my 1353 buy ?
ReplyDeletedo you think it can go lower than 1343 before it closes?
ReplyDeleteIt always can, who knows. Be on the look out for the 4H candle close and then make a decision.
ReplyDeleteIf it gets to 1342.7 I will be losing all (34 dlls) lol.
ReplyDeleteI mean, if you are going to work real time with USD 30 dollars in your account you will be just practicing, not making money.
ReplyDeleteSir Cesar I have loss 75 dollars for the buy of gold I keep it or close it ?
DeleteI can´t give you advice since I´m not a financial advisor. In my own position a have a SL order @1335, that is all I can tell you.
DeleteDid you know that brokers hunt for accounts low in margin? Well they do, when there is low margin in one account they notice the alert and trade against those accounts, that is the truth.
ReplyDeleteCesar but how will that work ? I mean the market moves all together and there are many brokers around the world how can one target a specific account ?
DeleteDid not know that.
DeleteI think that a big Server(s) and computer(s) Work recieving all information from all around the world and decide what is best for the big guys. It is what I believe.
DeleteWell is not that they move the market big time in order to liquidate your account, but brokers big enough (there are a lot of big ones) can move the market by cents and you will notice that accounts low in margin get liquidated by 1 or pips and then the market turns around. In those cases where liquidating an account by few cents is feasible brokers trade the few cents needed. Remember that their trades are measured in millions not hundreds.
DeleteThe information for an account, as well as positions and margin alerts, are stored in the server associated with your broker, they know when you are close enough to a margin call. But anyway that is not a topic for this forum, the solution is to always have enough margin and appropriate SL orders (min 10 pips) to avoid this.
Deletei notice that too sir cesato, that's why the noise was there to wipe low margin account before resuming the trend. you can see it happen now waiting for the hunt.
DeleteMoney maker, have you ever heard of stop hunting? well that is pretty much the same. Not all markets work against you but one big enough can move the market a little bit.
Deletethats quite interesting thanks for the insight Cesar need to keep these things in mind while trading !
DeleteIt Happen to me sometimes When I place an stop loss.
Deleteyes I saw on forums about stop hunting but honestly I did not researched if its actually true to its name in this way...
Deletei never used stop loss in my trades since i started last year and made huge gains but one wrong trade sucked all my equity
DeleteI guess you can now value the benefits of having SL order, if we don´t learn to lose small and gain big sooner or later the market will take care of us, the market can move 100 pips in one week, it happen last year for example and we already have like 80 pips in the last 2 weeks. Learning to lose is more difficult than learning to profit.
Deletehappened last year
DeleteCesar, that's what I do now, I only use stop loss when I am getting profits.
DeleteAnd I am Learning with small amount, and when I entered to this position (1349) I said myself, if I loose all, I don't care, I will learn something.
so true Cesar and thats probably the reason I am here, learning
Deletemoney maker- i learn it the hard way 2 years ago, i spotted that move while nobody believes me that time, thanks sir cesato for confirming that.
Deletefigure out "who and what moves the market",keep it for yourself if you did find the answer. good luck!
Delete@Ultraman invaluable lessons!!
DeleteYes, I am learning, watching how it moves up and down, how news affect.
ReplyDeletePips means ?
Delete