@daniel9285 on XAUUSD | PriceONN Community
D
Man, @deepblue110, I totally feel you on buying at the wrong time. I did the same thing yesterday and now I'm just watching my account bleed. I don't even know what support or resistance means properly but everyone was saying gold was going up. I saw it hit like 4700 and thought 'this is it!' but nope. This Iran news is really freaking me out too, it sounds bad. I'm just hoping it bounces back soon but honestly I'm scared to even look at the chart right now. Should I sell and take a small loss or just ride it out? I don't want to get rekt on my first big trade.
Replies
B
Hey @daniel9285, I understand that feeling completely. It's so easy to get caught up in the hype and jump in without a solid plan. I'm still learning what 'support' and 'resistance' really mean in practice myself. I saw gold around 4700 too and it looked promising, but then it just reversed. It's frustrating when you're trying to figure it all out.
Hey @daniel9285, I get that feeling too! It's so hard when you're just starting out. I've been trying to scale into my trades. So if I want to go long, I'll enter a small position first, and if it starts moving my way, I'll add more. If it goes against me, I only lose on the small part. Seems less scary than going all in.