@Dguaman, how tight was your stop loss? I usually go 2-1 or 3-1 ratio. I’ll risk $50 to make $100. So in this case, my trade worked out perfectly fine. Can’t set a $10 stop wishing for a $100 profit
jacmic
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@NuggLife, as per his instructions the SL for Inside Bar's Rule has to be just outside of the latest inside bar before the breakout (in case of multiple inside bars), therefore in this case just below 1922.
SL was hit, period.
Then, the price can also go to 20,000,000 usd in a straight line ok, but, if one is able to catch it, it is surely not thanks to this specific trade as it died during the following bearish engulfing candle.
I can not understand what is the point about claiming 600 pips "all targets hit" if the trade was clearly stopped out.
May I ask what is your view about it?
Cheers
Lucasgs5
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Ugly bearish candle. Gold at the moment is too erratic and risky to trade. Lower lot size to avoid margin calls
DylanWikki
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@Lucasgs5, Volatility is a good sign. Previous bull markets in precious metals had quick and aggressive sell offs
Lucasgs5
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@DylanWikki, yes buddy, didn't mean it as something bad, but some people take signals blindly and if they are overleveraged they suffer
DylanWikki
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@Lucasgs5, Oh fair point. I read it as you weren't liking the volatility haha ma bad. Gee long term outlook for precious metals is nice and BTC ;p
Lucasgs5
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@DylanWikki, as soon as shorts are liquidated, Gold will be back up haha but we should beware of coronavirus developments. A stable and distributed vaccine worldwide (and it seems we are just months away from that) will take gold down again, but I think that's the prospect for 2021.
Great call again @tntsunrise