Forwarded from Knights of Gold (Gold/FOREX Analysis/Trade ideas)
Makes a lot of sense when you relate it to trading. Even if you're trading rogue, entering anywhere on a chart, there was still a plan behind that trade. What did you want to target, what are you going to do if it goes wrong? Most of the time, thoughts are how much am I going to make, that excitement if it goes your way and how that one trade is going to make a difference to your life. The truth is, one trade is not going to change your life, in fact, you should looking at that one trade and thinking, is that all! Knowing, What you won't see is, with the right mindset and money management, that one trade will become two, three, four and so on. Small risk, sensible lots and knowing when to cut your losers will built your account no doubt.
The markets are designed to make you fail, that is their primary objective. Every day, you need to enter these markets knowing there are large institutions and powers that be out there, and all they want is your money. If it's a game to you that's fine, play it with what you can afford to lose. If you want to play the game seriously, you need to make plans, you need to learn, you need to practice and you need to observe more than you trade!
The markets are designed to make you fail, that is their primary objective. Every day, you need to enter these markets knowing there are large institutions and powers that be out there, and all they want is your money. If it's a game to you that's fine, play it with what you can afford to lose. If you want to play the game seriously, you need to make plans, you need to learn, you need to practice and you need to observe more than you trade!
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Up here it needs to be quick scalps. It's looking like it could be a stage where they will want as many of you as possible long up here before swooping liquidity again! If you are trading with no SL or huge SLs, like many traders do, please make sure to control your greed.
It's when you think there is no way this will go down and start buying aggressively that they will turn it!
It's when you think there is no way this will go down and start buying aggressively that they will turn it!
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Knights of Gold (Gold/FOREX Analysis/Trade ideas)
https://www.tradingview.com/chart/XAUUSD/rLhc1Hu1-THE-KOG-REPORT-Update/
This was completed and smashed through.
Camelot Friday today so I won't be posting much in Telegram.
Support at key level 4330 with extension level 4310 that will need to break to go down. Otherwise, resistance 4354 breaks for more upside.
Camelot Friday today so I won't be posting much in Telegram.
Support at key level 4330 with extension level 4310 that will need to break to go down. Otherwise, resistance 4354 breaks for more upside.
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That's us done for the day and week. Wishing you all a great weekend ahead and we'll see you on Sunday with the KOG Report and our view for the week ahead.
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π Looking for a reliable prop firm: Hantec Trader
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We trade level to level. Follow at your own risk. Always use a sensible stop loss. Strictly for educational purposes, not trading advice. We are showing you what we analyse and how we trade the markets.
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Part of the morning review:
That's what you get in Camelot! BOOM!!!
That's what you get in Camelot! BOOM!!!
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