GOLD / Time, Patience, Mindset.

FX:XAUUSD   Gold Spot / U.S. Dollar
As in life the same in forex, sometimes we create a problem. And we always think that problem needs to be solved with our interaction, but in 99% of cases because of emotions we make the problem more complicated thus creating even bigger problems.

Sometimes just a pure time / patience can solve the problem without our interaction. All we have to do is think forward. Once you start to panic and let emotions to ride with you, you are done especially in forex.
Patience is not the ability to wait.
Patience is to be calm no matter what happens, constantly take action to turn it to positive growth opportunities,
and have faith to believe that it will all work out in the end while you are waiting.

I got the wrong entry. What do I do now. Should I close it? But if I close it can reverse. Okay I close the trade in loss. Oh now it reversed, I re-enter again. It goes up again, and there it goes.. the crazy emotion train.. off the rails.

Why I make this idea.. because last trade is a great example of how just a patience can pay off.
Yes sometimes you make mistakes.. but if you can think off a plan B and if you believe in what you have created ( method / system ) then sometimes just give it a time, is all what it needs.

I got both haters / wise guys aka Holly Grail's, and people in panic.
Holly Grail's too early to be happy about my bad trade entry / situation, and panic people too early to be in panic.
And now you see how a problem got solved with just a patience / time.

That being said.. it's all about mindset and patience!

I closed my short trade in plus and will re-enter higher!

Trade active: I have reset my account back to previous amount and re-entered short trade.
Again if 1212 does not work out for me, I have pending at 1216 as well and at 1219 as well, just in case.
Trade safe and do your due diligence!
How low do you think gold going to go? Do you think it's going to increase anytime soon?
great call,1180 level,again buying for 1383 level,thanks
nice idea
sir one day gold will go to 1183,i belive,i am holding.i have patience
Thanks TP, for that pearl of wisdom. Patience is more than a virtue in this business, it is a necessity. I lack it and have paid the price.
Any new thoughts for us still holding bad longs?
TheZabisyu granulas
@granulas, I am not holding any bad longs.

granulas TheZabisyu
@TPparadigma, thanks for your insights, very much appreciated!
Great going.. Short from 1219 yesterday's high. Holding for target 1185
+1 Reply
Tpp, great insights. I always calculate at any position whether my account safe when price move up or down 20 -30 points. It helps me to be calm. A lesson from being wipeout twice early this year as new comer. Just a bit nervous when equity spread thin and have to hedge heavily. So far okey, I am learning.
+1 Reply
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