Received a lot of messages from followers that liked the tactics and fast recovery from bad situation
with proper analysis and plan making on time.
This Idea:
But remember that there are millions of situations. This time it was easier because of current market conditions. Next time it may not be that easy because there can be more difficult market conditions and you need different tactics.
I want to make more complex situation and try to solve it afterwards again.
Hopefully that can bring some value in your trading experience.
1st rule - always keep trading even if in bad situation. Most people stop because of fear and emotions.
We will now create complex situation on account.
with proper analysis and plan making on time.
This Idea:
But remember that there are millions of situations. This time it was easier because of current market conditions. Next time it may not be that easy because there can be more difficult market conditions and you need different tactics.
I want to make more complex situation and try to solve it afterwards again.
Hopefully that can bring some value in your trading experience.
1st rule - always keep trading even if in bad situation. Most people stop because of fear and emotions.
We will now create complex situation on account.
Trade active:
Knowing that gold pops up ( Posted a target.
I created complex situation with selling.
postimg.org/image/5e7a74pxv/
Let's say we made the mistake and we don't want to face the loss.
Now we need to do analysis and think about proper plan!
Will update!
I created complex situation with selling.
postimg.org/image/5e7a74pxv/
Let's say we made the mistake and we don't want to face the loss.
Now we need to do analysis and think about proper plan!
Will update!
Comment:
Gold make signal to sell from 1240.
This is what we will be doing.
At this point being in bad situation most of you would not do it. Because of emotions and fear. You are already in bad sell, and you would not go for more. But you have to. This is the only way out, by risking reasonably. We know that if gold breaks 1240 then it goes 1260. But if it doesn't then it may go deep down and we can be safe. So risk reasonably.
If gold break 1240 close the sell and hedge again.
This is what we will be doing.
At this point being in bad situation most of you would not do it. Because of emotions and fear. You are already in bad sell, and you would not go for more. But you have to. This is the only way out, by risking reasonably. We know that if gold breaks 1240 then it goes 1260. But if it doesn't then it may go deep down and we can be safe. So risk reasonably.
If gold break 1240 close the sell and hedge again.
Comment:
Update.
I was in sell from that 1240 but had to close it. Did it too early because forgat that 1242 is xo90 level that needs 3$ break for confirmation.
So reopened short again in hopes to make situation little bit better.
postimg.org/image/v5ngh7rs7/
On the other hand as more complex situation we get here in this experiment as better. Would be too easy if gold now just drops giving us a chance to close all in Profit.
I was in sell from that 1240 but had to close it. Did it too early because forgat that 1242 is xo90 level that needs 3$ break for confirmation.
So reopened short again in hopes to make situation little bit better.
postimg.org/image/v5ngh7rs7/
On the other hand as more complex situation we get here in this experiment as better. Would be too easy if gold now just drops giving us a chance to close all in Profit.
Comment:
Seems that we will not be able to mess up things here ( make complex situation ) because gold should be visiting 1233 is where we have our bad sell position so that means we get out no hustle. Will try to mess up account later.
Comment:
Well the situation got solved like I said before in previous update that gold is on 1233, so we did not get complex situation that would be interesting to see. Acc is saved and all is okay.
Closing this idea. If I am not busy I will try to make more complex situation later on.
Good Luck.
Always remember, you cannot change your start, but you can start again and change the finish. Emotions is your biggest enemy and if you study your trading journal try to find in how many cases you messed it up just because you got emotional. And that is the key answer to your success, no matter in what state you are with your account. Good Luck and all the best.
Closing this idea. If I am not busy I will try to make more complex situation later on.
Good Luck.
Always remember, you cannot change your start, but you can start again and change the finish. Emotions is your biggest enemy and if you study your trading journal try to find in how many cases you messed it up just because you got emotional. And that is the key answer to your success, no matter in what state you are with your account. Good Luck and all the best.
Account leverage is 1:500.