Wibie G - GOLD DAILY TRADING RESULTS (XAU/USD)

INTRODUCTION:
Hi, my name is Wibie G. I’m an individual, independent trader, specializes in Gold Trading. I create this thread for my live tradings and my live tradings alone. I consider it as my TRADING JOURNAL; nothing more.

The main content of this thread will be the Trading Results of my trading signals. That means in this thread I don’t publish trading signals before the trading starts .

My other thread has proofed that giving out free signals lead to poor results because a lot of people started using it, and in turn big banks started chasing our SLs before eventually hitting our TPs. Hence, the ironic reality in the end was no users of those signals had benefited financially from the well-intended effort.

I welcome comments, suggestions, counter opinions and appreciations. However, before you do, I highly suggest you (read and) make sure you strictly comply with the [B]Rules[/B] stated by the Administrator of Babypips.com.

INFORMATION:
[ol]
[li]Calculations are based on an OHLC Method; I won’t respond to queries regarding this subject, at all.
[/li][li]There is only one type of signal I will use: the High-probability Setup (HpS).
[/li][li]My Trading don’t happen in every trading day because HpS don’t always show up in every trading day.
[/li][/ol]

MY SCHEDULE TO RESPOND TO ANY QUERIES
If you post your query on the weekends or holidays, please accept the possibility that I won’t respond to it until next weekday. I like to keep my trade-life balance to be in good balance. Please help me in achieving that. By doing so, you also make yours in good balance too. If you post it during weekdays, I’ll try to respond to it as soon as possible.

FOR NON-BELIEVERS OF THE RESULTS
Because I will only display the results, there is a chance that some people would think I’m just making the numbers up to look like that I always make profits. Please be informed that my motives are only for recording my results and sharing my commentary of why and how the price moves technically and/or fundamentally.

Let me be perfectly clear here that I have NO intention to:
[ol]
[li]Impress anyone;
[/li][li]Sell my signals;
[/li][li]Sell my system; and/or
[/li][li]Sell my coaching service.
[/li][/ol]

In all honesty, I may however open a proprietary trading firm where I trade my signals using my own money and of my partners’. This will not contradict with the big-bank issue because I will trade the signals using only one or two accounts. Let me emphasize about the money: we’ll be using our own money. We will not be trying to scheme people to invest their money into our trading.

If that company established, my journaling here will soon end. So lets learn from the trades here while they last.

Cheers and enjoy… :):44:



SIGNAL DISPLAY EXAMPLE:

SIGNAL LEVELS
Today’s Signal ( 04/03/14 )

SELL STOP
OP @ $ 1350.31
TP @ $ 1338.25
SL @ $ 1362.36

GPpL @ $ 1206.00
GLpL @ $ 1205.00
RRR: 1 : 1.00

GLOSSARY:
[ul]
[li]OP: Open Position
[/li][li]TP: Take Profit
[/li][li]SL: Stop Loss
[/li][li]GPpL: Gross Profit per Lot
[/li][li]GLpL: Gross Loss per Lot
[/li][li]RRR: Risk Reward Ratio
[/li][/ul]

END RESULT & COMMENTARY (IF ANY)
TP has been hit.

The Fundamental Analysts stated that the Price fall was due to News that Russia has pulled back their troops from Ukraine. This makes people leaving the safe-haven asset back to risk assets again.

VISUAL RESULT


SIGNAL LEVELS
Today’s Signal ( 04/03/14 )

SELL STOP
OP @ $ 1350.31
TP @ $ 1338.25
SL @ $ 1362.36

GPpL @ $ 1206.00
GLpL @ $ 1205.00
RRR: 1 : 1.00

GLOSSARY:
[ul]
[li]OP: Open Position
[/li][li]TP: Take Profit
[/li][li]SL: Stop Loss
[/li][li]GPpL: Gross Profit per Lot
[/li][li]GLpL: Gross Loss per Lot
[/li][li]RRR: Risk Reward Ratio
[/li][/ul]

END RESULT & COMMENTARY (if any)
TP has been hit.

The Fundamental Analysts stated that the price fall was due to News that Russia has pulled back their troops from Ukraine. This made traders leaving the safe-haven asset back to risk assets again.

VISUAL RESULT


Fanastic, glad to see it is coming together some more for you Wibie

Good luck bud :slight_smile:

Cheers, Icequebe… :57:

Bloomberg Article
[B]Barrick CEO Says Gold May Rise Close to $2,000 in 2-3 Years[/B]

Barrick Gold Corp. (ABX), the world’s largest producer of the metal, said gold prices may retest previous highs and rise toward $2,000 an ounce within two or three years.

The metal has probably reached its lows and could exceed $1,500 an ounce in the next year, Barrick Chief Executive Officer Jamie Sokalsky said in an interview in Toronto today. Gold fell 28 percent last year, the biggest annual decline since 1981. It has recovered some ground in 2014, rising 11 percent in New York trading.

Continue reading here.

Sound too good to be true to you? :7::32:

Today’s Signal ( 06/03/14 )

BUY STOP
OP @ $ 1336.49
TP @ $ 1344.28
SL @ $ 1332.33

GPpL @ $ 779.00
GLpL @ $ 416.00
RRR: 1 : 1.87

GLOSSARY:
[ul]
[li]OP: Open Position.
[/li][li]TP: Take Profit.
[/li][li]SL: Stop Loss.
[/li][li]GPpL: Gross Profit per Lot.
[/li][li]GLpL: Gross Loss per Lot.
[/li][li]RRR: Risk Reward Ratio.
[/li][/ul]

END RESULT & COMMENTARY (if any)
TP has been hit.

Though SL was touched first, but because there was a reversal candle afterward, I decided to place my pending order. It’s not the first time that even after SL being hit, TP will eventually be hit too.

My OP was soon hit. Price then moved up and down below my OP level waiting for US Unemployment Claims. The data (i.e. Actual 323K vs. Forecast 336K) turned out giving bearish impact for Gold. I was very tempted to close my position, of course. But in my pre-trade review today, I saw in D1 that SMA 50 line is just crossing over above SMA 100 line. See 2nd picture below for the visualization. What the crossover means is that the technical push for Gold to go up was too powerful for the Bearish News. I decided to stay in the trade. And Alhamdulillah the decision was fruitful fairly quickly.

VISUAL RESULT

The usual H1 chart:


The D1 chart to see the SMA 50 & SMA 100 crossover:


WHAT THIS TRADE THOUGHT ME:
(in no particular order)
[ul]
[li]Always trust my system, and be very patient about it.
[/li][li]Pre-trade Review can give me confidence when Market gives me doubt.
[/li][li]A good example where Technical beats Fundamental. It gives me more confidence on my system which uses pure technical considerations.
[/li][/ul]

Good night from Indonesia dear viewers and cheers… :):44:

You go bud, liking to see how your system is doing its thing again.

Banks should watch out, soon Wibie will open his own branch :slight_smile:

Today’s Signal ( 07/03/14 )

SELL STOP
OP @ $ 1350.39
TP @ $ 1339.17
SL @ $ 1361.61

GPpL @ $ 1122.00
GLpL @ $ 1122.00
RRR: 1 : 1.00

GLOSSARY:
[ul]
[li]OP: Open Position
[/li][li]TP: Take Profit
[/li][li]SL: Stop Loss
[/li][li]GPpL: Gross Profit per Lot
[/li][li]GLpL: Gross Loss per Lot
[/li][li]RRR: Risk Reward Ratio
[/li][/ul]
END RESULT & COMMENTARY (if any)
TP has been hit.

Well, that was a quickie… :stuck_out_tongue:

My trigger level was hit about ten minutes prior to the US High Impact News. Then when the News been released, Price dropped fast and hitting my TP.

The thrill of waiting for the results has always been there. But after the TP got hit, never not be amazed with how the Price moves to the direction the Signals predicted. Particularly, when it happened so fast like this trade :o

VISUAL RESULT


Cheers, Dear Viewers… :):44:

You should be trying to learn why price is doing what it is doing, and use that with your xls file :wink:

So you can get better stop placement and sometimes better TP’s

Goldmoney.com Article

Gold in 2013: The Foundation For 2014

The chronological events of 2013 set the background for gold in 2014. It was a momentous year which should ensure a rise in the gold price in 2014.

Before 2013 demand for physical ETFs was high. At the same time Asian demand, from China, India, Turkey and elsewhere, was accelerating leaving Western bullion markets increasingly short of physical liquidity. Hong Kong and China between them in 2012 had absorbed on official figures 1,458 tonnes, and India a further 988 tonnes, ensuring 2013 kicked off with more global demand than available supply from mines and scrap.

The following is a list of subsequent important developments in 2013.

Continue read here.

Insightful read to anticipate on what’s coming :33:

We have a Double-Bottoms Situation in our chart, folks…
We’ll see where it will go…


Ooor, you could just google it yourself and find out where the market is expected to go after this… :wink:

Cheers… :44:

[B][U]CAUTION[/U][/B]

Currently, there’s a progressing tension between Russia and USA regarding Russian Army’s involvement in Ukraine Crisis. Any strong statements coming from both sides’ leaders could lead to [B]Gold’s Price Jump[/B].

Though the tendency is still bearish today, Sellers to please beware. Make sure you place your Stop Loss as per your money management policy.

Cheers… :slight_smile: :44:

I am not opening any orders this week as of yet, watching the markets and seeing how my support and resistance is going to hold up

Yes Icequebe, long-term traders need to just wait and see for time being…

Cheers… :44:

A good trading psychology article using Poker as analogy… :cool:

theforexguy.com article

What Poker Players and Forex Traders Need to Succeed

The stakes are as high as the tension in the room. Luck? Baby, it’s not about luck.

It’s all about controlling your emotions. It’s about managing risk. It’s about turning a profit.

Can you guess what I’m talking about based on the description: Forex trading or professional poker playing?

Actually, it’s an apt description of both professions.

Poker players and Forex traders need to share the same key elements in order to succeed.

So what qualities must a poker player and a Forex trader share to make them successful in each career? In this article we are going to cover the common grounds between the successes in two professions and discover why an accomplished Poker player would make a good Forex Trader, and vice versa.

Continue reading.

Today’s Signal ( 11/03/14 )

BUY STOP
OP @ $ 1339.35
TP @ $ 1350.75
SL @ $ 1329.00

GPpL @ $ 1140.00
GLpL @ $ 1035.00
RRR: 1 : 1.10

GLOSSARY:
[ul]
[li]OP: Open Position
[/li][li]TP: Take Profit
[/li][li]SL: Stop Loss
[/li][li]GPpL: Gross Profit per Lot
[/li][li]GLpL: Gross Loss per Lot
[/li][li]RRR: Risk Reward Ratio
[/li][/ul]

END RESULT & COMMENTARY (if any)
TP has been hit.

I didn’t take this Trade because the Price didn’t hit my Trigger Level.

My Trading Motto as a reminder to myself:

“Trade Your System, Never Trade the Market. No one can catch every Big Market Move.”

VISUAL RESULT


Till next time, Dear Viewers… :):44:

TP HIT again at 1258 ish… :35:

Well done, plasticbird :57:

Level $1375 seems to be a strong Resistance for Gold at the moment. There was a Reversal Daily Candle at that level on September 2013.

A Discussion about the Danger of Trader’s Overconfidence :28: on Her/His Winning Streaks…

@Pipsychology Article
[B][U]Stop Predicting Forex Price Action![/U][/B]

Enough experience in the Forex market can delude some traders into believing that they can fully predict price action. After all, if you have years of screen time under your belt and you’ve put in the 10,000 hours in developing your analytical skills, it can be tempting to assume that you know the markets inside out.

This kind of assumption is dangerous because it can eventually turn into what I’d like to call the “trader god complex”, wherein one has an unshakable belief in his or her infallibility in predicting future price movements. This is typically manifested when a trader is overconfident with his ideas that he refuses to acknowledge the possibility of error.

Continue reading here.