CLOSED TRADE: XAUUSD (Gold) BUY@1117.90 Alt Bat -139 pips

FX:XAUUSD   Gold Spot / U.S. Dollar
1666 28 23
And just to show that trading isn't all chocolate and roses, here's a trade that I gave my members that did not turn out so well. Everyone loses trades. I lose them, too. But I'll learn from this trade and I'll be there to collect when I trade it again!

I ended up losing -139 pips on this trade. Now, normally, my stops are less than 100 pips. Most of the time, much less. But this is Gold             . And this market requires larger margins and larger risk to properly trade it. So therefore the reason for the larger loss on this trade. Not to make any excuses as I was just plain wrong on the BUY call.

My system did however predict that large drop but I also did not take that trade. :(

Anyway, the purpose of me posting this is to let anyone who follows me know that I am not infallible and don't expect that I will get everything right! And I don't want to project that image either.

Anyway, I'm watching and waiting on this pair and as soon as I get a proper signal for a trade, I'll be letting my members know about it.

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Would be interested to see an update on this. Seems like your major wave ii is pretty right.
I am sorry. update is only available to members of my service. But just a heads up, wave (ii) is testing the wave (i) starting point and if breaking below it, then count is wrong.
Appreciate the honesty EF. I completely blew a trade (a screaming sell) recently, on the basis of a foolish hunch that I could second guess the market. Lesson learnt - do the obvious.
Good Post Bro! I also stopped at 1102.
Here is my weekly thought.
So much for harmonic patterns. Does it work , mate?
So you see one harmonic pattern fail and you get to say it doesn't work? Tell me, what system do you use that works 100% of the time?
peterchung16 EverythingForex
Please ignore the newbies or novice trader. Novice tends to think there is a magic system, magic indicator and magic technique. Every technique, every system, every indicator have high drawdown period. Only money management and risk management are the truth.
BCMel peterchung16
Absolutely the best advice I've seen anywhere!
nice post but I think we might see Gold get to 1050
KayJay simfranz
1030 instead
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