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Gold/USD pair එකේ trading signals

garfieldzz

garfieldzz

Well-known member
  • May 28, 2014
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    ජෝන්ගෙ ගෙදර
    DON999RU said:
    Thanks for the Rep+

    Please refer to the post given bellow;

    http://www.elakiri.com/forum/showpost.php?p=23284963&postcount=162
    Click to expand...

    I didn't mean that kind of strategy bro. i know it's hard to tell. i just want an example for correct my mistakes. because very hard to find a trader like you for get an advice.

    Example strategy :

    1. Checking the forex calander (forexfactory.com) for identify high infact news times that i should ignore

    2. Mark strong support and resistance zones with 1hour chart

    3. Mark trend lines

    4. Waiting for a Breakout or Fakeout

    5. Start a trade with SL:TP ratio 1:1.5 or 1:2

    If this is a unsuccessful strategy, what i need to study for make it successful?
     
    DON999RU

    DON999RU

    Active member
  • Feb 1, 2014
    125
    28
    28
    Colombo
    garfieldzz said:
    I didn't mean that kind of strategy bro. i know it's hard to tell. i just want an example for correct my mistakes. because very hard to find a trader like you for get an advice.

    Example strategy :

    1. Checking the forex calander (forexfactory.com) for identify high infact news times that i should ignore

    2. Mark strong support and resistance zones with 1hour chart

    3. Mark trend lines

    4. Waiting for a Breakout or Fakeout

    5. Start a trade with SL:TP ratio 1:1.5 or 1:2

    If this is a unsuccessful strategy, what i need to study for make it successful?
    Click to expand...

    Ok, now your request makes sense to me … :yes:

    First of all I’d like to draw your attention to one of the most undermined factors in trading industry.

    To understand that we must ask this question... ” What makes Trading different from gambling? “ :confused:

    According to me .., Gambling always got win or lose out comes …,When we apply these outcomes mathematically or percentagewise 50%/50% isn’t it?

    So then we consider Trading…is it also a 50/50 chance?? NO!!! (at least it shouldn't be..right?)

    If you consider all the aspects of Fundamental, Technical & Sentimental analysis, we got to understand that it’s not a 50/50 chance. According to my view..We are having more than 75% chance (If u have done all the analysis correctly) to succeed with a given trade,..

    Wait a second….but most of the traders get stopped-out, due to unexpected market movements, before it rallies according to your “near perfect” analysis.

    Think about it…how many times this has happened to u??...and you still wonder what went wrong….isn’t it?

    The problem is … not with the markets.(markets have been & will always remain unpredictable).., it is that you have been constantly misinformed , advised ,taught, brainwashed, misguided(I can use another 50 words to describe this illusion) ..to be at the safe side, “U Must Use SL & TP “ isn't it so? End of the day you become so predictable for those big market players.

    So, practically what you do is, by masking your trade with “safety first”, even without knowing you’ve been tricked to take a 50/50 chance with your trade..Which is nothing more than gambling!!

    # There are people who use SL and still very successful…,either it’s their luck or great analysis combined with a strong strategy. :yes:

    My Strategy consists of Either I win or Wait (better than being stopped out isn’t it?) ,with proper money management.No stop losses. If the trade goes really wrong I always keep enough margin to countertrade and at least to break-even the losing trade.

    Secondly…about News trading:

    With all due respect to the traders who are involved in this approach…please consider these statements as ‘my own opinion’ and got nothing against you people.
    (By the way I like this "LKF" Elakiri members posts ) :love:

    So, as I see …the News trading (80% of the times) is another way of squeezing out retail traders money by those big market players. All those big institutions got their own analytic groups, insider informants…which give them near perfect data beforehand, sometimes even few days to weeks before actual data releases. So…those institutions keep spreading their market orders according to those “Info” and make the best out of it(or cash out with profit) once data has been released(where market liquidity & volatility becomes a bitch :oo: ) and leave small traders in tatters.

    Instead of making this reply too long and boring…let me stop here for now.

    I’m not going to tell u that..this is what you should do or shouldn’t…,instead of that think and try to adjust your trading strategy for the maximum benefit.


    Always keep in mind that we are few of those very brave (or very stupid):P people who try to swim against a Tsunami. A good strategy is a tall coconut tree :rofl: where we can hang in to during those tremendous tides…and still survive without getting drowned or being killed by floating debris! ;)

    Good Luck! :love:
    Dr.Don
     
    Last edited:
    DON999RU

    DON999RU

    Active member
  • Feb 1, 2014
    125
    28
    28
    Colombo
    Vandetta said:
    shame i didn't take it, i was bit scared:sorry:
    anyway keep it up:cool::love:
    Click to expand...

    :rolleyes: "Hesitancy" is a natural reaction of our minds...when we go against the obvious/mass trend...,no matter what...always stick with your natural instincts.. ;)

    1212.png
     
    DON999RU

    DON999RU

    Active member
  • Feb 1, 2014
    125
    28
    28
    Colombo
    Gold has been ranging in a narrow tunnel for too long now.Got this feeling that a violent break-out is already grooming :eek: .It could still go either way:confused:...,in my sentiment it's a more bullish setup considering
    all the presenting factors. ;)

    Pick your trades wisely ! :love:
     

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