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Maximise Your Trading Success 3 Essential Tips for Setting AlertSetting alerts in trading is crucial for effective risk management and maximising opportunities. Here are three key reasons why you should set alerts: 1. Timely Response to Market Movements: Proactive Trading: Alerts enable traders to respond promptly to significant market movements, ensuring they don't miss critical entry or exit points. This is particularly important in the highly volatile markets, where prices can change rapidly. Automation: Automated alerts reduce the need for constant monitoring, allowing traders to focus on analysis and strategy while being notified of important market events. 2. Risk Management: Stop-Loss and Take-Profit Alerts: Alerts can help enforce disciplined trading by reminding traders to execute their stop-loss or take-profit orders, thus limiting potential losses and securing profits. Risk Mitigation: By setting alerts for specific price levels or economic events, traders can better manage risk and avoid significant losses due to unforeseen market changes. 3. Enhanced Trading Efficiency: Focus on Strategy: Alerts allow traders to concentrate on their trading strategy without being glued to their screens all day. This can lead to more thoughtful decision-making and reduced emotional trading. Opportunities Identification: Alerts can be set for various technical indicators or chart patterns, helping traders to identify and act on potential trading opportunities more efficiently. Setting alerts in forex trading enhances your ability to respond to market changes quickly, manage risk effectively, and improve overall trading efficiency.
Education
by Costy13
2
How i trade using engulfing candles Good afternoon gold gang! I thought i would jump on here with an educational piece on how i trade using engulfing candles along with my algo levels Whenever you get a big push in the markets, this may be a news item or simply a market open, we normally see a candle being "engulfed" .. now this means that the candle closed bigger than the previous .. imagine it over shadowing. When this happens, price likes to come back to collect orders from this level at some point in the future. Check the levels marked on my charts with a white box. The best englufing levels for me, occur at my algo levels. Observe the chart and see what i mean. Very powerful. I simply mark the level and await price to come back before making the decision to long or short it (based on the lower time frame confirmation) My algo levels are very powerful and are a constant draw on price as you can see .. they are not random and are always the same distance apart .. just look at the respect they get. Your homework is to go back on to the chart and mark all the engulfing candles you find on the 1 hour and above timeframe. See for your self how many times price comes back catch you this evening for the outlook!! follow along for more educational posts tommy
OANDA:XAUUSDEducation
by tommyXAU
2
XAUUSD How to enter on the retest (tutorial)Whats up gold gang! hope you have enjoyed your weekend .. its nearly market open .. so lets get ready. This weeks educational post is talking about the retest .. so what is a retest. When price breaks a banking level .. i normally enter on the break out .. but if i miss that .. you can wait for the retest. This is where price comes back to the level to collect more orders before shooting off in the direction of the current trend. Wait for a wick rejection at the banking level and a bullish candle to follow .. on the hour or 30m is the best .. then you can enter on the break of the previous bullish. Make sure this is at volume time around the opens. As anything .. it sounds simple .. but tricky to get right .. and is a lower probability set up compared to the standard breakout. Hope this was helpful guys .. please leave a like if you did. Ill be back tonight for the open and asian outlook going into tomorrow tommyXAU
OANDA:XAUUSDEducation
by tommyXAU
GOLD | Interesting facts about GoldOANDA:XAUUSD 1.Gold is a 'noble' metal, meaning that it does not rust or lose its shine. Other noble metals include ruthenium, rhodium, palladium, silver, osmium, iridium, platinum, mercury, rhenium and copper. 2.Gold is the only yellow metal. All other metals darken or turn a yellowish colour after they have oxidised or reacted with other chemicals. 3.Gold is one of the heaviest and densest of all metals in the Periodic Chart; a cubic foot would weigh more than half a ton. 4.Pure gold will melt at 1064.43° and boils at 2856.1°. Even at normal temperatures gold is extremely soft. One gram of gold can be flattened down to a square meter sheet, which is so thin that light passes through, and because of this it has been used as a protective film on visors in space suits 5.Odourless and tasteless, gold is not toxic - and flakes may be eaten in foods or drinks. 6.Gold is far rarer than diamonds but is only the 58th rarest earth element. 7.It is estimated about 160,000 tons of gold have been mined throughout history. 8.In 2018, China was the world leader in gold mining production. Second was Australia, Russia third, US fourth and Canada fifth. 9.The largest gold nugget is the 'Welcome Stranger' mined in Australia in 1869, weighing in at a colossal 173 pounds (that is nearly 78.5 kilos). 10.The first gold coins were produced in Lydia between 700 - 650 BC. They were made from electrum, which is a naturally occurring alloy of gold. 11.The Swiss Franc was the last remaining country to peg its currency to a value in gold. It became a fiat currency in 1999. 12.The Perth Mint in Western Australia cast the largest ever coin - weighing one tonne and measuring 80 centimetres (31.4 inches) in diameter. 13.New York’s US Federal Reserve Bank is reported to hold 25% of the world's gold reserves. 14.Gold is frequently used as a safe haven asset in times of economic turmoil or geopolitical uncertainty. 15.Gold has historically had a weak correlation to movements in the financial markets and is frequently used as a hedge against inflation.
OANDA:XAUUSDEducation
by INVESTRONE
tommyXAU simple entry model. Good morning gold gang! I thought id hop on here and post my super simple entry method for you to see. Its no SMC or ICT model that turns your brain in knots trying to figure out .. its simple, as trading should be. I look at some strategies on here and think to myself .. wow, that would turn me into an emotional wreck with my finger on the button. Ask yourself this .. do professional traders in banks use trading view and mark up charts? Its all time and price. Here i am looking for strong breaks of my banking levels in high volume times with a strong closure (30m/1h) preferably. Then an entry on the break of that candles wick. Target is always the next banking level but be very savvy with your risk management. Other areas play a factor too you cant just blindly jump in here .. but this is the exact model i use to execute. Hope this helps guys, drop a like if it did. See you tonight for market open tommyXAU
OANDA:XAUUSDEducation
by tommyXAU
4
When I take my trades Good evening gold gang, I hope you’re having a good weekend. I thought I’d hop on to share with you the times of day i like to be at the charts. I like to make sure I’m sat down around the most volume, which is normally an hour before opens and the actual opens. I use the sessions indicator to help identify the sessions for backtesting .. just search its name. I’m back Monday for some more gold action .. hope to see you then. Hit the like and follow along! Tommy
OANDA:XAUUSDEducation
by tommyXAU
1
This is my ideal entry model for XAUUSDGood afternoon gold gang! hope you're having a good weekend. I thought id share with you my favourite entry set up for gold which is proven to be over 80 percent accurate according to my data. Im looking for a strong close outside a major level .. by strong i meant 30 pips there abouts .. then the candle to close .. the next candle to wick down to retest the level .. then enter on the break of the previous candles high. Its as simple as that! .. there are other things involved but ill go through them with you in time, so make sure to follow along!! Ill be back this evening with an outlook for tonights asian and tomorrows london and ny sessions Tommy
OANDA:XAUUSDEducation
by tommyXAU
3
GoldViewFX - THE ART OF RANGE MANAGEMENT Hey Everyone, Here at GVFX, we are currently buying dips. What that means is that we buy on the dips and therefore only concentrate on long positions/buys with the odd sells for fun. As mentioned before, having both sell and buy positions open in your account will affect your psychology and in turn, your trading decisions. Now a question that typically arises here is why would it still be advisable to buy when the market is pushing down? Firstly, let me assure you that the same algorithms, experience and strategies that we use to achieve a 97% hit rate with our bullish directional bias also gives us the heads up, or down if you will, on when the market is going down. Don't think for a moment that we only know how to analyse a bull market or up trends. We share targets/signals for both buys and sells but choose not to hedge out of choice. Our published results remain consistently profitable month in month out!! In my experience, in the current market conditions, it is much safer to get out of a stuck buy position than a stuck sell position. That's not to mention the clean PSYCHOLOGICAL PROFILE that is achieved when trading in just one direction. And although hedging can in theory work, it requires years of experience and in the end, is simply not worth the effort. I am more than capable of hedging effectively but the fact that I do not should tell you something. Let us look at an example to further answer the question highlighted above. When you have short-term bearish momentum down, we take buys from key supports or MAs which act as dips. Remember that the market does not go up or down in a straight line (with the rare exception of short-lived parabolic moves). So, when the market is going down and hits one of our key levels, a buy from that point will go back up for 20 to 30 or 30 to 40 pips (this number of pips has been calibrated based on back testing) before resuming back down. You can think of it like this. The market moves in a zigzag manner. The zig is that part of the leg which is going down to create lower lows (if the downward trend is continuing). The zag is that part of the leg which takes a breather and pushes back up with momentum for our entry and quick pip-take range to create a lower high (if the downward trend is continuing) before heading back down again. We catch the right and safest waves (buys) in and out and surf to success. When price hits a key structural support or stops creating lower lows and lower highs, we then reassess for entries with a wider range of pip capture. Hope this post helps our followers to understand how we keep our psychology strong!! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
18
BASIC MONEY MANAGEMENT - LOT SIZE VS REVERSAL AND ACCOUNT SIZEHey Everyone, We see too many new traders trade with random lot sizes with no understanding on the impact it has on account sizes, which result in not only losses but BLOWN accounts. This post is by no means a risk or money management strategy but more so just basics on the movement of reversals and how the lot sizes impact the value of your account during this reversal. Trading with the right lot sizes allows a trader to manage their account/money when the trade goes against them. The right size allows a trader to move a range without blowing their account and without seeing their account reverse to the point of no equity. This type of trading gives traders anxiety and in return this anxiety impacts trading psychology . This then has a ripple effect and impacts your trading decisions and analysis. The example we show on the chart is an entry of SELL that reverses by 380 PIPs. This movement happened in literally 2 candles (1hour candles) , so in two hours the price from entry reversed by 380 pips. This example then shows what this equates to in monetary value dependent on lot sizes. The example shows that anyone with a £500 account trading this movement with a lot size of 0.20 would have blown their account. Lot size usage should be based on the size of your account for example; £500 size account - we will only use 0.01 size lot sizes with maximum deployed total no more than 0.02. This will allow an account to survive volatile movements. £1000 size account - we will use 0.02 lot sizes with maximum deployed total no more then 0.05 any given time. £2000 size account - we will use 0.03 lot sizes with maximum deployed total no more then 0.10 any given time. £5000 size account - we will use 0.5 sizes with maximum deployed total no more then 0.20 any given time. Basically staying below 0.05 for every £1000, as the total deployed usage allows us enough flexibility of movement on the chart for Gold and then using stop losses on top of this, gives us further control of our money management. Many traders who cannot control their greed and do not bother understanding risk/money management will bung on a 0.50 lot size on a 2K GBP account, as an example, and then when it reverses, even if it's within the swing range, you know what will happen next. ACCOUNT BLOWN! MIND BLOWN! You will have mastered the art of risk/money management when your entry reverses and you a) expected that reversal within the range before it resumes to hit the TP and b) you look at that red figure during reversal without it worrying you in the least. We hope this quick basic insight helps some of our newbies better understand how to manage their risk with range. Please like, comment and follow to support our work, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
27
BUYING DIPS/SELLING TOPS - KEEPING A CLEAN PSYCHOLOGICAL PROFILEHey Everyone, Here at GVFX, we are currently buying dips. What that means is that we buy on the dips and therefore only concentrate on long positions/buys with the odd sells for fun. As mentioned before, having both sell and buy positions open in your account will affect your psychology and in turn, your trading decisions. Now a question that typically arises here is why would it still be advisable to buy when the market is pushing down? Firstly, let me assure you that the same algorithms, experience and strategies that we use to achieve a 97% hit rate with our bullish directional bias also gives us the heads up, or down if you will, on when the market is going down. Don't think for a moment that we only know how to analyse a bull market or up trends. We share targets/signals for both buys and sells but choose not to hedge out of choice. Our published results remain consistently profitable month in month out!! In my experience, in the current market conditions, it is much safer to get out of a stuck buy position than a stuck sell position. That's not to mention the clean PSYCHOLOGICAL PROFILE that is achieved when trading in just one direction. And although hedging can in theory work, it requires years of experience and in the end, is simply not worth the effort. I am more than capable of hedging effectively but the fact that I do not should tell you something. Let us look at an example to further answer the question highlighted above. When you have short-term bearish momentum down, we take buys from key supports or MAs which act as dips. Remember that the market does not go up or down in a straight line (with the rare exception of short-lived parabolic moves). So, when the market is going down and hits one of our key levels, a buy from that point will go back up for 20 to 30 or 30 to 40 pips (this number of pips has been calibrated based on back testing) before resuming back down. You can think of it like this. The market moves in a zigzag manner. The zig is that part of the leg which is going down to create lower lows (if the downward trend is continuing). The zag is that part of the leg which takes a breather and pushes back up with momentum for our entry and quick pip-take range to create a lower high (if the downward trend is continuing) before heading back down again. We catch the right and safest waves (buys) in and out and surf to success. When price hits a key structural support or stops creating lower lows and lower highs, we then reassess for entries with a wider range of pip capture. Hope this post helps our followers to understand how we keep our psychology strong!! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
26
GoldViewFX - RANGE-BOXING STRATEGYHey All, We had some great feedback from our back to BENCHMARK strategy (see related post below) and wanted to share another simple strategy that I have been developing and using for many years that I call, Range Boxing. A term I thought was the perfect cliche of two words for this strategy. RANGE BOXING creates what we call a RANGE VIEW, A clear view for price action within pre-determined zones. This then allows us to trade a ranging market and get out before a RANGE BREAKER or gear up to ride the RANGEBREAKER by identifying the RANGE SHIFT. I will define each term below and then walk you through the strategy. RANGE SHIFT This is the early signs of a range breaker or a merger of a range and allows us to start identifying when the price is about to break out of a range or MERGE (more likely). RANGE BREAKER The breakout of the range into another range confirmed with EMA5 break and candle body close above or below the RANGE BOX RANGE BOX Boxes created around a side-by-side price range, defining the top and bottom of the box with EMA5 Goldturns (See all my previous posts on Goldturns) It's the way we draw SUPPORT and RESISTANCE. They create levels with less noise and more suited to trade Gold. RANGE VIEW This is created by using historical range boxes in the same range and bringing over the boxes to the current price range. This now gives you the view of the projected range. HOW TO USE THE STRATEGY Strategy can be used on higher time frames for longer term direction; however, I find it more effective to trade with on the 1 HOUR and or 4 HOUR chart. I zoom out of the chart and look for the last time price was in this range and identify the 3 ranges. One range above (RANGE1), the middle range (RANGE 2) and the bottom range (RANGE 3). I then created boxes around those ranges 1,2 and 3 using the highs and lows of the Goldturn levels. Once this is done, I now bring those boxes and stretch the boxes across to the current price range. This now gives us the RANGE VIEW. I always put a half line across the range of a RANGE VIEW. It allows me to break down the zone to identify the RANGE SHIFT. I can now trade the current range using these levels, bouncing up and down the range. Identifying each level break and rejection using Goldturns and EMA5 breaks. If a box is broken with EMA5 and a candle body close, it's a range breaker and it opens target to the entrance of the next RANGE BOX. To enter the RANGE BOX, we again look for EMA5 to break inside with a candle body close, which then confirms movement to the half line and then same again for the target to the top of the RANGE BOX. A rejection by resistance, will then have the price come back down to find support, until we see another breakout. We can start to identify early breakouts by identifying a RANGE SHIFT and a fake BREAKOUT by Goldturn rejection. Please see the example of the chart, RANGE 3 into RANGE 2. When the half line is broken up from range 3, price started to find support on the half line from resistance to support. This allowed us to identify the structure for a RANGE SHIFT. RANGE SHIFTs are easier to catch then a RANGE BREAKER, as a RANGE SHIFT is a merger approach into a new range. I can now also apply the Back to BENCHMARK strategy, as an overlay on each range to support a BREAKOUT or RANGE SHIFT. I hope you all find this setup useful, and it adds as an additional tool to support your trading analysis. Please don't forget to like, comment and follow, it really helps us to bring more quality content to you all. GoldViewFX XAUUSD TOP AUTHOR
FX:XAUUSDEducation
by Goldviewfx
8
GoldViewFX - GVFX GOLDTURN RANGE BREAKER SETUP Hey Everyone, This is a basic yet a strong Goldturn Trading Setup in step-by-step stages. Our personal signals in VIP use an algo generated weighted Goldturn setup for more pinpoint accuracy, which is the more advanced version of this and for obvious reason we can't share this here. 1 - Draw a Goldturn on the previous days Highest point for Resistance 2 - Draw a Goldturn on the previous days Lowest point for Support 3 - Wait to now see current day price action and look to see, which level EMA5 breaks - Support or Resistance? 4 - In this example previous days Goldturn low is broken with EMA5 5 - Once EMA5 breaks level by crossing over, we now wait for a 1H candle close after the cross. This is the confirmation lock candle. 6 - Next candle is entry candle - we can see a 450-pip movement from entry. We advise to take profit at 50 pips or next Goldturn, which is a likely target or move SL and trail the movement to catch the entire breakout. Please don't forget to like the post, it helps us bring more quality content to you all. GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
6
ma5 breakout trading setup - Earlier last week we posted some basic MA5 setup action and how effective it is in gold setups. Today we show you how a simple trading setup that you can use to draw strong levels and how to trade with them. Support and resistance can be drawn in many ways and often traders find what works for them and use that method. This is a method we use to create strong levels of support and resistance lines that get respected well in trading gold. We draw a line where the MA5 average creates a turn angle. We then wait to see how this level is challenged and broken. When the ma5 average line breaks this level, we wait for a 1H candle to close after, as confirmation of the challenge being broken. We can then place an entry on the next candle opening or from a reversal and target a capture of 200 pips or some of our experienced traders will target exit at the next level. If this is over 1000 pips then we use strong money management techniques to baby sit the trade. As the weeks go by we will start to build on these trading setups. Please support my team here to provide more knowledge on this platform. We have a strong reputation in the trading world but new to sharing on this platform. support us with follows and likes so we can build on sharing our setups with you.
OANDA:XAUUSDEducation
by Goldviewfx
3
Gold Vs 10 Year Treasury Bond Interest Rates In this video, I explain in detail the relationship between the price of Gold and the interest rate on 10-Year Government Treasury Bonds. You will understand why Gold is used as a hedge against inflation when investors cannot protect the purchasing power of their wealth through the purchase of government treasury bonds. Gold has risen in value by 231% since 2007 from $545 an ounce to $1,809 an ounce. As central banks must keep interest rates low coming out of the Covid-19 pandemic to help governments borrow huge amounts to inject stimulus into the economy, gold remains alongside stocks the only way investors can hedge the risk of inflation from eroding the value of their wealth. We also look at Gold priced in Euro's, Pounds and Australian dollars as interest rates in Europe, Australia and the UK have hit record lows over the past few years. You are going to love this educational video!!!
OANDA:XAUUSDEducation
by KayansMarkets