Currently I experienced max draw down 25 dollars so far on Long gold trade which is actually not the worst drawdown seen considering that there are people with long entries above 1300
I have a bad entry and timing on this trade.
But I am a man that trust in my own strategy even if I lose.
It's already enough seeing copy trades all over the place when one TOP guy come out with Idea, then suddenly majority speaks in one voice, I am not doing it, nor I am following somebody, nor I ever will.
This is the situation where I leave this trade fully on JAFR calculations that suggest gold going to 1383 > 1430.
Either Gold stops my account out and gives me a lesson about being on wrong side, either gold starts the path upside.
This is just my trade and my situation, So here I give it a time and patience, and I will not fund account I leave it as it is and rely fully on my strategy.
Funny how some people came in my ideas when I was short and said don't wait for it gold will not break 1200.
And now when I am long, same people comment again don't wait for it gold will not go up.
I even don't know what to add here...
This is not an example you should take into your trading, that's just me, and a way how I test my mental durability when it comes to TRUST IN YOUR STRATEGY.
NFP direction for tomorrow updated here:
All main bullish levels are now below close price, seeing this picture makes me somehow calm, because finally I may have the bottom. This is first day after long weeks when close price gives such intraday picture.
That being said, 1166.00 - 1169.00 is levels that I count on intraday basis, if they hold. If I wouldn't have open positions I would go long with Stops below 1160 but since I am already long I have no ability to long here.
And update on current acc situation:
Waiting for NFP so see you then!
Trade with care and be careful!
Today finally I got all these levels below close price and knowing that I am targeting gold 1383 if these levels finally say it is bottom and gold is going up,I will improve so I know what I have to consider next time in similar situations. I will know that while one template is suggesting that gold is going up, while other template is still with a mixed signal I will not enter so rapidly but wait while the 2nd template is finally giving levels under close price so I can be more sure to enter. So this all is just a great " material " to consider and study to become better and improve strategy. So now I am keen to see what will happen when now both strategy templates and levels align.
Intraday levels that come below close price so far doing fine. Like I said I count on them, and I would love to see the same from today's close price.
Don't forget that this weekend we have volatile event with Italy and Gold can work as a safe heaven for investors to flow the money in.
I cannot tell what close price we need today in order to continue bullish sentiment Monday because today close price will be useless since gold will open with a gap on Monday so the open price will be taken as close price. Let's see what New week bring to us. Have a great weekend, and drink only quality alcohol if you do so! Cheers.