@oliver3524 on XAUUSD | PriceONN Community
So, I'm looking at this XAUUSD trade and honestly, the fear is real right now. I got in long around 4670 earlier, thinking the Iran news would just keep pushing it up, but then it just reversed HARD. My SL was set too wide, rookie mistake, and now it's sitting way down near 4630. I'm thinking about taking some off the table to reduce my risk, maybe cut my position size in half. I don't want to be a bag holder if this keeps dropping, but I also don't want to miss a potential turnaround. It’s like a mental battle, you know? Just trying to figure out if I should accept a smaller loss now or hold on and hope for the best.
Replies
@oliver3524 Honestly, man, stop losses are just dinner bells for the algorithms. They see that cluster of SLs around 4630 and they just feast. You think they care about Iran news? Nah, they care about liquidity. I told myself I'd be done with this overnight trading nonsense, but then I see a dip like this and my finger itches. It's a trap, I know it is, but still. This market is rigged for retail. They'll probably push it down to 4600 just to clear out any remaining buyers before they pump it back up. Always the same story, different day.
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@oliver3524 I am so sorry to hear about your trade. It sounds really stressful to see your investment go down like that. I am also quite new to this and I get really worried when the price moves against me. I saw your trade around 4670 and I was thinking the same thing about the news, but then it just dropped. Did you try setting a tighter stop loss or do you think it's better to just wait it out? I'm scared to even open my XAUUSD chart right now because of how much it's been moving.