EverythingForex

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.
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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.
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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.
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Good Post Bro! I also stopped at 1102.
Here is my weekly thought.
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So much for harmonic patterns. Does it work , mate?
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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?
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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.
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BCMel peterchung16
Absolutely the best advice I've seen anywhere!
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nice post but I think we might see Gold get to 1050
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KayJay simfranz
1030 instead
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