gold and US30 selling over 200 pips each from my entry, my God I have finished my self

JEROMMMMMEEEEE TI PAMI OOOOOO
after I had gave up on my bias and closed the trade the market dump
😭😭😭😭😭😭😭😭😭😭😭😭😭

oh God why am I a failure nawwwwww

I'm done for today, ender with a small loss on US30, only a scalper would have benefitted from price move earlier on, floating profit of about 100 pips evaporated b4 for my eyes luckily little to no damage incurred on my account, POWELL YOUR A MORAFORKERRRR, TALKING WITH BOTH SIDES OF YOUR MOUTH. peace out

Gold out at breakeven, us30 hit stoploss, Powell all of a sudden did a 360 and started sounding dovish, MORAFOCKER!!! DXY PLUMMETTING TOO HADES

nzechu:
Looks good to sell
Response at retracement to trendline, Pinbar showing bearish pressure 23% witchcraftfx fib level sell entry

Except it fails, that's why we are just observing

Hope say you don sell. 😁

Hoorayyy Powell delivery a hawkish remark, he confirmed the need to keep rates higher for longer, currently dollar bulls are roaring, I'm already short gold and US30 with a 100 pip stoploss each

Davigled:
Gold sell at 2050 stop at 2055

gold and US30 sell all closed,
gold plus 10pips and US30 plus 80 pips, am back to the sidelines until FOMC

Gold sell at 2050 stop at 2055

US30 sell at 38530 stoploss at 38580. takeprofit open

Davigled:
Morning folks, Gold sell limit at 2038, stoploss at 2043

SL taken, gold currently above 2050 level due to yields plummetting, US Treasury announced a lower refunding of its debt which came in line with market expectations causing all longer term yields to sink to hades, thereby handing the reins to gold bulls who have been supported all along on geopolitical tensions in the middle east. My mistake on this trade is that I tried to front run the US Treasury and should have waited b4 I made my decision. I feel with this development, the DXY bulls are in for a shocking FOMC surprise

Davigled:
Morning folks, Gold sell limit at 2038, stoploss at 2043

And we are live, operation account recovery from ICU unit in progress

Geovanni412:


Correct me if I am wrong...

I think fundamental analysis is better for long term traders

All this long grammar is too much for one day trade wey fit still cut like bet9ja ticket

Ogami, in all honesty you maybe right sir. I use to think like that, but the saying that says there are many ways to skin a cat is really true, I use to think that only position traders or maybe swing traders incorporate fundamentals analysis, but I have come across scalpers that trade based off fundamentals, and day traders too, one of my mentor on twitter whom I am learning fundamentals from is a scalper, and he scalped both sides of Gold yesterday based off the geopolitical tensions in the middle east which made him long gold and then later on short gold due to strong economic data (JOLTS and consumer confidence) which made gold spike down. i know that you know about floor traders which are mostly scalpers or day traders and they also trade off fundamentals too. this are things that I came across on my research which convinced me. but to be candid it's not the only profitable way, I am doing this because I've recently develop interest in economics especially macroeconomics and I plan on getting a certificate on economics in the future to add to my degree in engineering 😁

a big shout to galleryeasy, he was one of the folks who inspired me to study fundamentals too, pls newbies I am not trying to paint a glamorous picture on fundamentals because honestly it's more harder than technical analysis and I strongly will never recommend it to a total noob, make sure you have a strong technical before you even think of adding fundamentals too it.

Morning folks, Gold sell limit at 2038, stoploss at 2043

🔰 According to Sky News: US President Joe Biden will authorize military action in the Middle East tonight.

#Gold #USD #Oil🛢
@Forex_LvieStram

copied. if that happens oil and gold could gap up

Good evening folks, so tomorrow promises to be superbly interesting as there are market moving events that will definitely rock the market across all asset class.
The first event is something that you may have never heard off in the trading world, but it's quite popular in the investing world and interestingly, the Federal Reserve will also be paying attention to it. This is the US Treasury Quarterly Refunding Announcement by 2.30 pm GMT+1.

I will try my best not to write a long post but here's a summary of what you may wanna know about it;
The US Treasury department is responsible for managing the US government's finances, and it conducts a quarterly refunding process to raise money for government spending, manage existing government debts and indirectly influence interest rate decisions.
The US Treasury quarterly refunding announcement, a regular update by the Treasury Department, outlines the government's borrowing needs and debt issuance plans for the upcoming quarter, specifying details of Treasury securities auctions. This announcement impacts Treasury yields as it signals the government's borrowing intentions. An increase in issuance may raise yields due to higher supply, potentially lowering bond prices, while a decrease could have the opposite effect on yields.
Now investors are expecting the US Treasury to release a higher quarterly refunding announcement and in the event that it does that, this will definitely make bond yields to rise which will definitely spill over into the USD as rising yields tends to make the dollar stronger.

Now the second event of equal impact as the first is the much anticipated FOMC meeting tomorrow by 8 pm GMT+1. For folks that may have been tracking or paying attention to the US economic data will know that it's still in a pretty good shape compared to the other G7 economies. So in a nutshell, a stronger economy means no rate cut (for now). The markets expects a somewhat hawkish remark from Powell pushing back on an early rate cut reaffirming the higher for longer narrative. The US economy has already achieve a soft landing and due to that, the Federal reserve do not need to be in a rush to cut rates.

Here's my take; if we get a higher quarterly refunding announcement that beats market expectations from Janet Yellen and also a hawkish remark from Jerome Powell (#anicingonthecake), we could potentially see bond yields going through the roof with the dollar hitching a ride on their back, while all risk asset class plunge to hades.

Here are the levels I'm watching;
DXY: I expect price to breach the 104.3x which is the high of Dec and BSL is residing there. And also, price has been finding support in the BISI of Tue 16 Jan 24. But in the scenario that things eventually goes south (you know shit happens at times), we could see price crashing below SSL residing at 102.7x.
Gold: for the previous 2 weeks, I have been anticipating and I still do expect a crash to the 2001 level and subsequently to 1980 level. I feel that Gold may find resistance at the 2040 level due to the huge wick rejection of 7am EST Tue 30 Jan 24 on the 4h chart. Should it hold, I expect it to journey downsouth, but in the case that it breaches 2040, we may see it go far north to 2060ish zone.

Pls don't mind all my gibberish as you definitely don't need to know all this to be a profitable trader, this is a new hobby that I have found to make myself more productive. Cheers and pls trade safe tomorrow as it's going to be crazy violent tomorrow, only proper risk management will definitely be your saving grace...

Jameselias:
ICTcadet

SIR YES SIR

Davigled:


Stop moved to break even on this trade, as of the time that I checked the chart, price is about 50pips to my TP. hopefully it gets hit, as RR is 1:4

yeeeee boyyyyyyy, tp smashed, operation account recovery from ICU unit initiated, all losses incurred yesterday have been nullified

Davigled:
posted a call on US30 buy at 38300, but you can jump in at the current price with a 50 pips stoploss, target is at 38500

Stop moved to break even on this trade, as of the time that I checked the chart, price is about 50pips to my TP. hopefully it gets hit, as RR is 1:4

nzechu:
Omo this one enter

Baba no fear, Gold sell is still in play, just look at the daily and 4h chart, you see that wickedly looking wick...,

the ball remains in the court of the US Treasury and federal reserve. Yellen and Powell go unleash volatility tomorrow, I will write a little epistle about it later...

posted a call on US30 buy at 38300, but you can jump in at the current price with a 50 pips stoploss, target is at 38500

Ah dunno know warris forking wrong wit NL bot, moraforker, banned my account and even delete my post, ah don even know what my offense is 😠

nzechu:
bros mi, do make u arrange ur bags, make we enter bus when de go south south on Monday for gold o. Make sure say u get plenty space for drawdown of stoploss sha, no tight stops. After the move don start I go draw the map.

Trade with risk management though, make e no be say driver girlfriend break him heart him con change direction o, de go sokoto

Egbon, ah dey come follow you after ah don treat the malaria and typhoid wey market dash me today

I even gambled on gold today with the hopes of recovering some of my losses but as always, the market gave me a resounding smack... 😭

My Fundednext account

Before this week (1st pic)

After this week (2nd and 3rd pic)

My TFT account

Before this week (1st pic)

After this week (2nd and 3rd pic)

The current state of my accounts

Good evening fams, I really appreciate all the bosses here for their kind response and advice. Well it's the stupid indiscipline trader here reporting hisself. So I started the year well on a right footing, I joined TFT and Fundednext Jan competition which I am still on. plus a 5k 5%ers bootcamp account purchased on my behalf by the benevolent boss DXYY, I truly am still grateful sir for your generosity towards me. Honestly I must confess that trading has really been tough in January but nevertheless I still was able to make 11% on my TFT and almost 13% on my Fundednext account respectively, meanwhile my 5k 5%ers account has been in a knee jerk kind of situation where I was moving in and out of drawdown. I was thrilled with my performance all though not astounding but I was happy to see myself hitting 10% again for the third consecutive time since the situp challenge being the first an also I was impressed with myself for being able to stick to strick risk management on the competition accounts as I only traded 1 lot on gold, bitcoin and indices. My risk per trade was 0.5% i.e I was keeping all my risk at $500 per trade on a 100k account. I saw it as a huge progress in my journey to be able to hit 10% trading 1 lot on a 100k demo account. But unfortunately I gave it all back this week. I over traded and coupled with having a loosing streak, I ended up giving all that I toiled since the beginning of the month back to the market. More so, I was really annoyed to see my analysis playing out as I had anticipated while my stops kept being taken, I really was livid. Today i nearly lost my senses completely seeing my analysis playing out but getting stopped out before price moved in my direction, just when I was tempted to push the button again I stumbled into my trade history and saw all the losses I had incurred since the beginning of the week. I was devastated and I felt a very sharp twinge of pain in my heart and also in my brain. I had to forcefully call myself out here on the thread, because as I always say, I want to hold myself accountable so that I can find my consistency in trading. So I painfully closed all my positions that were left open for a small profit, as I want to reset and start afresh again from the drawing board. I must confess that I felt really overwhelmed with pain earlier on but I feel better now. While I was in pain, I questioned my abilities, am I a bad trader?, Was my performance so far a fluke?, Or was i just getting lucky with my trades all this while? This were the questions that were running through my head while I was grieving. Besides that , I also had some profitable trades which ended up in a loss as I didn't take profit due to my greed, this also added to my anguish. And so I sat myself down and write down all that I did wrong which led to my perilous ordeal. Here's what I observed;
• I traded in choppy market condition and forced trades due to fomo, I'm always on the charts and I have this urge to always need to have a trade going on.
• I over traded due to trading many pairs which confused me at some point, there were times I was feeling confused because I was tracking alot of things which made me over analyse
• My biggest problem so far is impulsiveness, fomo and the urge to trade everyday which stems from my addiction.

The only credit I will give my self was maintaining the discipline on my risk at 0.5% else I would have been disqualified in both competition and maybe blown my 5%ers account. It hurts me to see my analysis playing out while trades ends up in a loss. I am really pained that I ended up ruining all my hardwork from the start of the month so far in a space of one week due to overtrading. Today's ordeal was quite traumatic for me and I have resolved in all sincererity to cut down the pairs that I trade, I will strictly be trading gold and US30 henceforth. I am posting it here so that, in the case I backslided and start trading other pairs, pls do not hesitate to call me out, I am holding myself accountable and also responsible by doing this. And then also I will put myself on a daily drawdown of 2%. Once I incure a 2% loss of my account in a day, I will definitely be taking the rest of the day off the charts. I apologize for writing this long epistle. Pls all advice, criticism and scolding are welcome.

BTCUSD sell limit order deleted, I used a very tight stoploss on US30 and it got hit now price is rallying, I won't touch it too, so far only trade open is EU sell and I will comeback much later to see how it fared,

🤕 feeling sick right now

Davigled:


Got taken out on gold, I will be watching EU and I won't touch gold again, cos I don't want to revenge trade

Meanwhile us30 buy at current price stoploss 50 pips take profit at 38200

I'm calling it a day, my psychology is really forked right now, I am stupidly confused and I have had the worst week since the beginning of the year, my God I feel very hurt right now emotionally, because I have been on a Lossing streak since the start of the week and I keep asking myself, is it not the same market that I have been trading, my brain is hurting at the moment and I wonder if I can be going through this pain on a demo account I wonder what would happen to me in on a live account, abeg ooo make bp and heart attack no kill me...

Oh Jesus help me, pls help me

Davigled:
Gold and EU sell with 50 pips and 20 pips stoploss respectively

Got taken out on gold, I will be watching EU and I won't touch gold again, cos I don't want to revenge trade

Meanwhile us30 buy at current price stoploss 50 pips take profit at 38200

Gold and EU sell with 50 pips and 20 pips stoploss respectively