Look how gold prices went out of chart pattern (from 1631.80 to 1624) and returned back in chart pattern after hitting so many stop losses and stopping several accounts. 70% of my trades were stopped due to this.
Attachment 462
Look how gold prices went out of chart pattern (from 1631.80 to 1624) and returned back in chart pattern after hitting so many stop losses and stopping several accounts. 70% of my trades were stopped due to this.
Attachment 462
i agree forex and especially gold is high volatile and some time it goes outside patters so be careful and use only lower leverage while trading in gold and you must tarde small lots only and should have good balance also
actually that is why most of the experts advice not to trade during impotent news .couse of very high volatility. if you have a stop-loose so dont have to worry ,you have to accept the loose and forget it and only back to the charts and rules again.you will it will be very easy to recover if you lost only %5 of your account but if %50 gone then it will be harder to recover. :)
The volatility of gold is very high and a gold trader should have a deep knowledge of market. A strong fundamental analysis is very important for gold as gold's prices are effected by many factors. That is the reason for which gold's chart breaks the pattrens many times. Gold trading seems very risky to me. But i will do trade in Gold in future after having a lot of experince and knowledge as these the very important requirements for gold trading.
yes always chart patterns wont give proper signals and even combination of signals wont get the trade into profit or in predicted way.
no one can give 100% true signals.Its not possible in forex and news release may take the price anywhere.
agree gold is highly volatile. and the movement of gold is uptrend only but during the last quarter of 2011 its movement has been downwards. And its moving to and fro hovering around the 1600 and 1700 mark for the past couple of months