1. entry system:
RM4-88.6%level re-bounce-BUY
target 1R or PLUS,place 1 trades.
2. entry setup: entered @ 1630.8 ,sl 1622(maybe would extend to previous low 1615, it depends ), looking for 1.5R and more.
PS: trade live on all ideas.
RM4-88.6%level re-bounce-BUY
target 1R or PLUS,place 1 trades.
2. entry setup: entered @ 1630.8 ,sl 1622(maybe would extend to previous low 1615, it depends ), looking for 1.5R and more.
PS: trade live on all ideas.
Comment:
let it run, i am not planning to change this trade's sl, normally i do. reason: i feel it will last going up till next week?
Trade closed: stop reached:
gold stop loss was reached on friday.
i didnt re-enter this trade when price re-bounce strongly on friday night. since i have heavy position on sliver (see my previous post).
and the key point from this situation is that i cant simply focus single trade too much and forget my portfolio. which i learned lessons before. although every trade is independent, but you must see the total risk and put risk before gain (how much i would get pay if those trades are right). gold and sliver go up are the same logic, so i just use some potential gain to protect my whole equity safe. i think it is fair and considerable.
must treat trading as a long-term serious business , instead of short terms "what-the-hell-lets-do-this" gambling behaviors.
i didnt re-enter this trade when price re-bounce strongly on friday night. since i have heavy position on sliver (see my previous post).
and the key point from this situation is that i cant simply focus single trade too much and forget my portfolio. which i learned lessons before. although every trade is independent, but you must see the total risk and put risk before gain (how much i would get pay if those trades are right). gold and sliver go up are the same logic, so i just use some potential gain to protect my whole equity safe. i think it is fair and considerable.
must treat trading as a long-term serious business , instead of short terms "what-the-hell-lets-do-this" gambling behaviors.
