Donsheddy:
Sell gold


Entry 2336
Sl 2342
Tp 2330


Rre 1:1

Sl picked... Mess up

Donsheddy:
Sell gold


Entry 2336
Sl 2342
Tp 2330


Rre 1:1

Sl licked... Was so close to tp

F1re:
Gold bears are riding...

False move.. welcome to the wild west😂😂

US30 260 pips done and dusted

Today's trading is tough man, still collected though

gold bull run likely continue.
I dont trust that gold

Please traders, are there other ways to avoid this.

Ps, I wasn't in the trade. I observed this while backtesting. But, is there a way someone can avoid this cos it would be mad painful watching trading view and smiling that your trade is moving well only to open mt5 and be met with a shock

Nass 100 i am selling at the current price

Good afternoon guys, how's trading been? I had to go on that long sabbatical to discover myself and it was one hell of a journey.

Good to be back.

News trading has mostly been more of a guess trading than actual trading. News mostly f.cks Technical Analysis up and you see stupid spike here and there. Isn't it just better to wait it out instead?

Making same mistakes like someone that started trading just few weeks ago won't do us good. It will just stall the progress instead.

Cashhy11:
News trading has mostly been more of a guess trading than actual trading. News mostly f.cks Technical Analysis up and you see stupid spike here and there. Isn't it just better to wait it out instead?

Making same mistakes like someone that started trading just few weeks ago won't do us good. It will just stall the progress instead.

I beg to disagree....
News only fuels the market to do what it wanted to do but this time it does it quickly....
After news release calmly look at the chart you will see what was missing....

Realone, Kozmicity et. al. Thanks for checking up on me. I was always here as guest reading the posts, just not commenting. How has trading been treating you guys? I saw Kozmicity pulling stunt, it was so good to see that.

Donsheddy:


I beg to disagree....
News only fuels the market to do what it wanted to do but this time it does it quickly....
After news release calmly look at the chart you will see what was missing....

We are saying the same thing, but just in a different way. Waiting it out in my post meant, not being in a trade before news, or immediately after news. Waiting it out to me means waiting for maybe few 1hr candles closures.

And about news fuelling it to do what it wants to do is fallacy my brother. News can change direction to anywhere even though technicals is screaming the opposite. If News is fuelling market to do what it wants to do, why are majority losing then? Why are swing traders having lesser win %?

If news fuels the market to do what it wants to do based on Technical Analysis, swing traders should be winning all their trades.

Nass100, 114 pips done and dusted

Cashhy11:
We are saying the same thing, but just in a different way. Waiting it out in my post meant, not being in a trade before news, or immediately after news. Waiting it out to me means waiting for maybe few 1hr candles closures.

And about news fuelling it to do what it wants to do is fallacy my brother. News can change direction to anywhere even though technicals is screaming the opposite. If News is fuelling market to do what it wants to do, why are majority losing then? Why are swing traders having lesser win %?

If news fuels the market to do what it wants to do based on Technical Analysis, swing traders should be winning all their trades.

How do you know the direction the market went insist the direction it intended to go and maybeyou're looking at the technicals wrongly...
Market can never be wrong....
I
Only traders can....

Look at cpi for example yesterday...
Alot of people was screaming gu buy buy buy..
Gold was also looking like it want to buy before the news...
But it was clear that the overall trend of the market was bear...
And cpi sold massively...

Looking at the market after the drop you will see why it sold but if you looked at the chart before the news you might have skipped it

G30fx:
Nass100, 114 pips done and dusted

Always put tp or sl

Donsheddy:


How do you know the direction the market went insist the direction it intended to go and maybeyou're looking at the technicals wrongly...
Market can never be wrong....
I
Only traders can....

Look at cpi for example yesterday...
Alot of people was screaming gu buy buy buy..
Gold was also looking like it want to buy before the news...
But it was clear that the overall trend of the market was bear...
And cpi sold massively...

Looking at the market after the drop you will see why it sold but if you looked at the chart before the news you might have skipped it

I think one should try to study the chart well because if you get acquainted with the chart i don't think you need any news to trade FX all you need is to train yourself to be comfortable with staying idle waiting for the right charts formation. My personal opinion though

G30fx:
I think one should try to study the chart well because if you get acquainted with the chart i don't think you need any news to trade FX all you need is to train yourself to be comfortable with staying idle waiting for the right charts formation. My personal opinion though

Exactly...
News isnt something we should fear...

Donsheddy:


How do you know the direction the market went insist the direction it intended to go and maybeyou're looking at the technicals wrongly...
Market can never be wrong....
I
Only traders can....

[b]Look at cpi for example yesterday...
Alot of people was screaming gu buy buy buy..
Gold was also looking like it want to buy before the new[/b]s...
But it was clear that the overall trend of the market was bear...
And cpi sold massively...

Looking at the market after the drop you will see why it sold but if you looked at the chart before the news you might have skipped it

Donsheddy my man, Wherever market goes, there will always be reason why it happened. Just imagine the example you used yourself, you said majority were screaming buy, but market sold based on CPI whatever that came out.

Now, let's assume CPI came out opposite, and market bought instead, you can see there would have been reason that happened also. The only reason why trading is so hard is because no one knows for sure market direction at a particular point in time.

Cashhy11:
We are saying the same thing, but just in a different way. Waiting it out in my post meant, not being in a trade before news, or immediately after news. Waiting it out to me means waiting for maybe few 1hr candles closures.

And about news fuelling it to do what it wants to do is fallacy my brother. News can change direction to anywhere even though technicals is screaming the opposite. If News is fuelling market to do what it wants to do, why are majority losing then? Why are swing traders having lesser win %?

If news fuels the market to do what it wants to do based on Technical Analysis, swing traders should be winning all their trades.

Donsheddy is right. News only brings in volatility.

News can change direction to anywhere even though technicals is screaming the opposite.

Lol no. With few exceptions (nobody owns the market after all), any trade where the market goes the opposite direction to your bias was probably a less informed decision. Again, as Donsheddy said, go back to the charts and study the moves. The big spikes in both directions seldomly happen.

If News is fuelling market to do what it wants to do, why are majority losing then?

They are less informed, it’s that simple. A common SMC mantra is if you can’t spot the liquidity then you’re the liquidity. That’s why we get spikes to take out the early birds (also known as inducement)

Factors that cause majority to lose are mostly the trader’s fault. Common examples are forcing trade setups, not checking the HTF to get the bigger picture, overleveraging, running after price after the impulse move and not putting their SLs at invalidation areas.

I was almost a victim of the last factor today - FUD would have made me execute a 1:5 RR (image 1) that should have been a sweet 1:3 RR (image 2). I stayed out altogether though since I didn’t want to get slipped by the broker.

This brings me to reason beyond the trader’s control - slippage from the broker causing SLs to be hit by spread or orders to be executed at the wrong price.

G30fx:
I think one should try to study the chart well because if you get acquainted with the chart i don't think you need any news to trade FX all you need is to train yourself to be comfortable with staying idle waiting for the right charts formation. My personal opinion though

To successfully do what you just said is why I said it's better to avoid trading around news periods. News makes trading technical analysis alone harder in a way. I trade 99.9% technical analysis, but I'm aware that the 0.01% left is that one news that might rubbish whatever it is I might have planned based on my TA.

Donsheddy:


How do you know the direction the market went insist the direction it intended to go and maybeyou're looking at the technicals wrongly...
Market can never be wrong....
I
Only traders can....

Look at cpi for example yesterday...
Alot of people was screaming gu buy buy buy..
Gold was also looking like it want to buy before the news...
But it was clear that the overall trend of the market was bear...
And cpi sold massively...

Looking at the market after the drop you will see why it sold but if you looked at the chart before the news you might have skipped it

Spot on. Others confluences to the sell of EU and GU were market at premium zone, Asian highs being taken out so the lows were next and DXY looking for buy side liquidity.

randomShek:
Donsheddy is right. News only brings in volatility.



Lol no. With few exceptions (nobody owns the market after all), any trade where the market goes the opposite direction to your bias was probably a less informed decision. Again, as Donsheddy said, go back to the charts and study the moves. The big spikes in both directions seldomly happen.



They are less informed, it’s that simple. A common SMC mantra is if you can’t spot the liquidity then you’re the liquidity. That’s why we get spikes to take out the early birds (also known as inducement)

Factors that cause majority to lose are mostly the trader’s fault. Common examples are forcing trade setups, not checking the HTF to get the bigger picture, overleveraging, running after price after the impulse move and not putting their SLs at invalidation areas.

I was almost a victim of the last factor today - FUD would have made me execute a 1:5 RR (image 1) that should have been a sweet 1:3 RR (image 2). I stayed out altogether though since I didn’t want to get slipped by the broker.

This brings me to reason beyond the trader’s control - slippage from the broker causing SLs to be hit by spread or orders to be executed at the wrong price.

Exactly i was also a victim to gu today...
I woke up saw the gap that needed to be filled before selling...

Now i noticed the false drop, i jumped in...
News came i. Pushed the market upward and filled the gap and now its dropping....

So who do i blame, myself or the news...

Definitely myself because at the end of the day the market did what it had to do

Looking at that h4 the trendline was the gap that needed to be fiiled but i quickly jumped in during the first drop at h1 thinking that was the move....

News came in push the market upward and dropped now

Cashhy11:
Donsheddy my man, Wherever market goes, there will always be reason why it happened. Just imagine the example you used yourself, you said majority were screaming buy, but market sold based on CPI whatever that came out.

Now, let's assume CPI came out opposite, and market bought instead, you can see there would have been reason that happened also. The only reason why trading is so hard is because no one knows for sure market direction at a particular point in time.

They call it the probability game for a reason.

The goal is to make money, not be right.

A person that fails 7 trades out of 10 would still be up +2% at the end of the trading month on a strict 1:3RR. That’s still a decent sum monthly on a $10k account.

Again, trade management, risk management and optimal trading system. The probabilities would stack up in your favour over time with good capital.

Donsheddy:
Looking at that h4 the trendline was the gap that needed to be fiiled but i quickly jumped in during the first drop at h1 thinking that was the move....

News came in push the market upward and dropped now

Do you factor in currency strength during your analysis

kellybently:


Do you factor in currencies strength during your analysis

Nop

randomShek:
Donsheddy is right. News only brings in volatility.



Lol no. With few exceptions (nobody owns the market after all), any trade where the market goes the opposite direction to your bias was probably a less informed decision. Again, as Donsheddy said, go back to the charts and study the moves. The big spikes in both directions seldomly happen.



They are less informed, it’s that simple. A common SMC mantra is if you can’t spot the liquidity then you’re the liquidity. That’s why we get spikes to take out the early birds (also known as inducement)

Factors that cause majority to lose are mostly the trader’s fault. Common examples are forcing trade setups, not checking the HTF to get the bigger picture, overleveraging, running after price after the impulse move and not putting their SLs at invalidation areas.

I was almost a victim of the last factor today - FUD would have made me execute a 1:5 RR (image 1) that should have been a sweet 1:3 RR (image 2). I stayed out altogether though since I didn’t want to get slipped by the broker.

This brings me to reason beyond the trader’s control - slippage from the broker causing SLs to be hit by spread or orders to be executed at the wrong price.

All of these happens whenever there are strong red folder news. Is it not better to just stay out rather than go through all these you mentioned?

If swing traders are even saying what you just said, I might have agreed. But a day trader that doesn't know one news is enough to send the market against you by -100pips before continue its original movement is something else entirely. What I've learned so far is whatever it is you do that works for you, just stick with it.

As for me and my household, if I can't spot a trade before a major news, or few hours after. Tomorrow is another day.
I currently trade a 1:1rr strategy, so you should understand why I focus more on efficiency.

It's easier for you with 1:5rr you tried to catch, if it fails four times before winning one, you are still in profit. I don't have that luxury.

randomShek:
They call it the probability game for a reason.

The goal is to make money, not be right.

A person that fails 7 trades out of 10 would still be up +2% at the end of the trading month on a strict 1:3RR. That’s still a decent sum monthly on a $10k account.

Again, trade management, risk management and optimal trading system. The probabilities would stack up in your favour over time with good capital.

So if you trade a 1:3rr, you are comfortable risking 1% per trade on a prop account? And beneath your post, you were preaching about risk management? That's ironic!

Anyone with a 1:3rr will definitely have a lower win rate compared to if the person was running 1:1. Risking 1% of your account on a low winning rate strategy is a bad money management skill.

My own goal is to be right, with that I'm sure money will follow. And that's why I strive for efficiency instead of higher RR.

Cashhy11:
Good afternoon guys, how's trading been? I had to go on that long sabbatical to discover myself and it was one hell of a journey.

Good to be back.

What have you discovered about yourself?

Did you make more money? Travel? Or date a hot chick? I'm curious

F1re:


What have you discovered about yourself?

Did you make more money? Travel? Or date a hot chick? I'm curious

All those things you mentioned, I've done them before, nothing special about it. This is a forex trading group, so discovery in this context will only mean about my trading style, edge etc. We are adults, we should all act like one.

Cashhy11:
All those things you mentioned, I've done them before, nothing special about it. This is a forex trading group, so discovery in this context will only mean about my trading style, edge etc. We are adults, we should all act like one.

It sounds clichè and most people that say that are just spinning their wheels hence my question above.