Confused about gold

Discussion in 'Commodity Futures' started by Alexis_0, Jan 13, 2024.

  1. Alexis_0

    Alexis_0

    Whenever I trade, the market breaks the trend and whenever I don’t trade, the market follows the trend. Why does it happen?
     
  2. maxinger

    maxinger

    Have an inverter on your computer.

    When you press BUY, it will change to SELL.
    When you press SELL, it will change to BUY.
     
    wxytrader likes this.
  3. Overnight

    Overnight

    It is because you are noticing only when you lose, not when you win.
     
  4. Tokenz

    Tokenz

    Because you have a lot to learn
     
  5. mikeriley

    mikeriley

    Higher time frames are your friend.
     
  6. alistera

    alistera

    Psychology and physiology, it means you are destined to have a job, when you become 'unemployable' as someone I know eloquently put it, it means you have the ability to trade the markets as a career.

    Now some bright spark will make the comment that people make profits in the markets and have day jobs, they do, however there are many nuances specific to them often one having low returns expectations.

    Lower timeframes are your friend as it shortens the learning cycle up to 10x, once you perfect that you will be able to master higher timeframes, MN240 and DY1 are good choices across multiple instruments.

    It's these small fractional details that allows you to see who are career traders (virtually none), those who are hobby traders (a few), and those who are neither helping fund the markets (most).
     
  7. TrAndy2022

    TrAndy2022

    You should know when to trade. Breakouts are better when NY opens. You can expect some trendy moves at NY session start.
     
  8. maxinger

    maxinger

    Your chart time frame is probably too big/long.

    By the time you enter a trade, it is too late.

    Use a short time frame.
    Gold futures is excellent for day trading
     
    Big AAPL likes this.
  9. CannonTrading_Ilan

    CannonTrading_Ilan Sponsor

    Try range bars...

    The bars will complete slower when market is dead and complete faster when market is active.

    Here is a chart I use for day trading gold as well as a video on range bars and volume charts

    Range bars

    upload_2024-1-16_9-5-3.png
     
  10. schizo

    schizo

    Consider this as the Darvas Box. If it were me, I would be more positioned to short this thing once it moves out of the box.

    upload_2024-1-16_10-57-45.png
     
    #10     Jan 16, 2024
    CannonTrading_Ilan likes this.