closed gold short for a profit of 4 usd approx....need to take some rest and then pick up my wife from work
trading aud and gold [xauusd]
- Thread starter padutrader
- Start date
yeah
i have a lot of experience in the 1000 different ways to lose.
but i have been looking for a really simple way of trading which i have located and testing here.
i think you are fairly new here because of your question on ema and entry close to it
this is basically a trend following method........so i just try to wait for a pull back and enter...sounds simple ....in reality something else.
if you have 2-3years experience in trading i can help you a bit....
but i am 64 years so my energy level is not high and i need all of that for my trading...but week end holidays i love to pass my time chatting about technicals
i chat with two traders very regularly for a year now , maybe more, because..... hey whose counting ..right?
i have done all that...and more
i traded elliot wave for 5 years in 2004 using as soft ware called advanced get.
but my life's work has been to find something that a 12 years old can understand and which can be descried in 15- 20 min.
i have finally found something.
it took me along time because i was looking for how markets behave.....and not for way to manage the market.......i was not looking for an 'edge' but more to know how the market moves...this many people would find ridiculous because markets seem to make no sense....
it took me decades to figure it out.
even after figuring that out you need a trading plan to make money.
it is still a work in progress and perhaps always will be
yes it is tricky...
even the most trendy has periods of apparent nonsensical movements. and trendy periods are few .....so you need to watch many instruments
this is the way of markets......drive both bulls and bears mad by doing nothing for much longer periods....
trading is just plain tough, frustrating maddening .......until one day it is the most easiest thing in the world.........
gold is tricky as hell.......but rewards those who can fathom it's quirkiness
stocks may be a lot more trendy.....
it been 13 years since i position traded stock futures
sold gold 1873.86 stop 1875.77
You must be rather brave.
The chart looks rather chaotic/messy/directionless.
If I see such a chart, I'd stay far far away.
unlikely gold will be trendy today.
yesterday movement was huge (52 points range).
gold was very trendy during yesterday's European session.
so today gold might want to take a rest unless there is
some powerful presidential tweet or equivalent.
commodities that are moving today are
copper, oil, rubber, heating oil, Natural gas etc (except gold !!) .
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stopped out