Gold rising

G

Gonçalo Barros

Hi guys
Well I’m new in trading but I have been experimenting trading in a while and it’s going well.
Since I started which was like 1 month ago I have made near 2500€.
But recently I have sold in gold/USD which has rised in this days exponentially and I’m in an open trade of -2000 which is like losing all the money I made.
I really would like to know from you guys if gold price will go down again or it will keep rising?
 
Gonçalo Barros said:
Hi guys
Well I’m new in trading but I have been experimenting trading in a while and it’s going well.
Since I started which was like 1 month ago I have made near 2500€.
But recently I have sold in gold/USD which has rised in this days exponentially and I’m in an open trade of -2000 which is like losing all the money I made.
I really would like to know from you guys if gold price will go down again or it will keep rising?
More...


we are traders.
traders don't know what will happen next.

we are not fortune-tellers.
fortune-tellers know what will happen next.

Gold day chart is extremely messy, extremely chaotic,
extremely untidy.
Professional writers would probably be able to analyze it
and they'd say long term wise, the price would go up and up.
However professional traders and professional writers don't mix well.
 
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Gonçalo Barros said:
I really would like to know from you guys if gold price will go down again or it will keep rising?
More...
as you have found out it is not whether you make money or not it is whether you have any clue what is going on......

what is the meaning of 'down' or 'up'......it is different for different people

As Seykota said which is extremely relevant for everyone in trading :' if you cannot learn the basics and watch an experienced trader at work it is better to restrict your trading to the super market '

good advice

you are bloody lucky you are still 500 euro in profit overall...close your trade......take it and go to a casino.

i expect it to go up today i just opened a long but if i change my mind, which may happen at any time, i would reverse without a second thought.

'it is better to lose your opinion than your money'

however if do learn this business for 5-10 years it is highly beneficial....it is the only business that does not go into recession
 
Close position tomorrow.
Buy books about trading/investing with remaining €500.
You can find plenty on what to do next with forum's ,,search" option.
 
Nobert said:
Buy books about trading/investing with remaining €500.
More...

yes read everything you can....

if not how will you know to recognise the rubbish......

that is what the books will help hugely for

do not for one minute think you can read and mint.

not that the author is dishonest......but what worked for him may not work for you.....

you may not fit into the clothes he wears and it does not make any sense to expect that his trading method will it you
 
Since I already understood trading is more difficult than I thought and that I need learn and study it.
Would you advice some good books and courses that I could learn from?
 
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