I use the successful strategy of short-term investment, I think the return is fast, stable
Thanks for posting the chart. I assume you entered a trade short at 1792.25. What indicator(s) did you use to decide to enter short at that level? did you set a stop loss? If so, at what level? Do you have a profit target in mind or written down as a plan?
Sorry for all the questions, but members will be keen to analyze any and all posts that have charts. It’s good practice.
Hello, I am very glad to discuss this problem with you, but I am not good at playing forums, can you teach me?
[Edited for a Forums Violation]
Hi, thanks for the reply. If we take the content offline, there will be thousands of other members that will not benefit from our conversation. I am a great believer in “the wisdom of the crowd” and have learned a great deal on Babypips by sticking to the public discourse. There may be many reasons why you do not wish to share learnings in public (embarrassment, fear of getting it wrong, tens of others I could think of).
Also, if I make a mistake in my writings, I am hopeful that other members would spot that mistake and correct me. How else am I to continue my own education if I go to private conversation?
Here is an anecdote that I hope will change your outlook on the benefit of public exposure. It is about our own perception of what others may think of us. I did this to my two sons when they were 16 and 10 years old.
We were on a visit to a very large shopping centre near Manchester UK called “The Trafford Centre”. I think we were looking for an X-Box at the time. Anyway, I asked them to just like down on the floor, cross their arms over their chest, and stare at the ceiling. They categorically refused to perform such an unusual act. I told them that all the shoppers would just ignore such an act, but if anyone were curious enough to ask what I was doing I would explain to them that this is an exercise in “Initiative”. Sometimes, just a willingness to do something that nobody else would consider “normal” is indicative of somebody who does not care if he fails, but only cares to get back up again and keep on trying. That is initiative.
So I laid down for more than a minute, and there must have been over 200 people walked past. My sons distanced themselves from me a few metres away. Absolutely nobody slowed down or stopped, They just continued to walk around me. I wondered what would have happened if I had had a heart attack?
You see - nobody cares if you appear to be the most stupid person on earth. They have their lives to live, and often do not see what is staring them in their face. Two youngsters nearly fell over me but continued walking glued to their mobile phones. No awareness of their surroundings. I consider that to have been one of my better moments. Try it some time - when you are out with a friend.
If any other member has read this far, you are more bored than I thought.
Try it, and reply to this post on your observations. You have to lie down for at least a minute but not too long as to cause any public order distress. In large shopping centres you don’t want to unnecessarily cause stress to the security guards. They have enough to cope with looking out for real trouble to protect the public and the store owners.
The chart is a 1min chart and it looks like Linyunchen has taken a quick scalp on a pullback ? Price action trader, I am sure she will correct me if I am wrong.
The challenge with gold is that it doesn’t move much. Some scalpers may like this though, as it is not so frantic.
Personally I scalp the DAX at 8am London open, OMG the Dax shifts a bit on the 1min - you have to be very quick or it skins you alive. Having said that I got more than 50 points in 6 minutes for 5 trades this morning on1min DAX
I suppose it’s up to individual choice - what suits one person doesn’t necessarily suit all.
I do hope Linyunchen gets the hang of forum posting - I haven’t even mastered the art of cut/paste.
Curious @linyunchen, which country are you from?
I’m from Asia, and you?
Thanks for this, I see that your entry was at 1792.25. Where was your stop-loss, and how did you decide it should be at that price?
Buy at the most appropriate time based on data analysis, you can put a stop loss, but I have never lost a trade, I control profit 10% to 20% close orders
I don’t mean only stop-loss orders - a stop-loss can be a mental price level where you would exit the trade manually.
So, if you entered short at 1792.25 but price had gone up instead of down, at what price would you have got out?
I trade XAUUSD, and it trades both ways, I post an order that goes down, and you can also create an order that goes up. It doesn’t trade the same way as a stock, but I think it’s easier to analyze
Fair enough, you are hedging your short trade with a buy order and I assume you would hedge a long trade with a sell order. I am doing this myself on GBP/USD opening range break-out trades.
Why did you select such a very short time-frame? I’m sure you’re profitable but how do you select the right entry time/price?
Hi, Over how many trades and how many months have you never lost a trade? Statistically, I believe this is an impossible statement for more than a few trades. Please elaborate.
The chart looks great and I can see that you made profit as well. So, how did you design your portfolio? Also, did you diversify it on your own or did you take help from your broker? Do share a detailed experience you had all the way so that we can get knowledge about it too.