Open trading account 
The Gold Trade that I had posted about previously is coming along really nicely. If you have not seen the previous posts, please click on the links below
Anticipating Breakout In Gold - May 22
Gold Charts & Analysis - May 23
The trade setup that I discuss, is a triangle, I had a bigger position before the breakout, and have been adding to my position as the trade is panning out. My original trade stopped out, I made a big mistake by moving the stop too soon and too close, but I re opened at a lower price after getting stopped and taking the loss, because the setup was still valid.
I have attached a screen shot of my open positions and how I've added. The first position is the bigger position. Essentially, once 1 position is in the green, I add another smaller position and so forth. It has allowed me to maintain my 1:10 risk to reward ratio and at the same time increase profit potential.
As you can see I have been selling all week, even though I've heard many traders looking for places to buy. I've been able to sell with confidence as I trust my system and know this setup was high probability, especially after breaking out of the triangle.
I"m expecting a bit lower to take partial profits before a significant pullback , and will be looking to add as price goes higher.
If you like my style of trading, and would like to learn more, Please attend my daily Dukascopy Webinars, where I go through trade setups as they develop, and progress, looking for good places to enter and exit live.
Anticipating Breakout In Gold - May 22
Gold Charts & Analysis - May 23
The trade setup that I discuss, is a triangle, I had a bigger position before the breakout, and have been adding to my position as the trade is panning out. My original trade stopped out, I made a big mistake by moving the stop too soon and too close, but I re opened at a lower price after getting stopped and taking the loss, because the setup was still valid.
I have attached a screen shot of my open positions and how I've added. The first position is the bigger position. Essentially, once 1 position is in the green, I add another smaller position and so forth. It has allowed me to maintain my 1:10 risk to reward ratio and at the same time increase profit potential.
As you can see I have been selling all week, even though I've heard many traders looking for places to buy. I've been able to sell with confidence as I trust my system and know this setup was high probability, especially after breaking out of the triangle.
I"m expecting a bit lower to take partial profits before a significant pullback , and will be looking to add as price goes higher.
If you like my style of trading, and would like to learn more, Please attend my daily Dukascopy Webinars, where I go through trade setups as they develop, and progress, looking for good places to enter and exit live.
