@vivekshah85 on XAUUSD | PriceONN Community
Sometimes I think my biggest trading strategy is hoping and praying. I see a dip, think 'buy the dip!', FOMO kicks in, and then it dips even more. Maybe I should just inverse my own trades, would probably be more profitable lol. Going to bed now, hope gold doesn't sweep the lows overnight...
Replies
Oh and I forgot to add, I saw a FVG on the 1H chart earlier, thought it was a sure thing. Guess not. NFA tho.
@vivekshah85 I feel you on the FOMO thing lol. It happens to the best of us! But seriously, maybe try backtesting some strategies before jumping in. FVGs can be tricky, especially on shorter timeframes. Look for confluence with other indicators, like maybe the 200 SMA or a pivot point. And yeah, gold can be brutal overnight. If you're holding positions while sleeping, always use a stop loss, even if it's just a small one. NFA, but hope this helps. Don't let one bad trade get you down!
S
@vivekshah85 Hey, I totally get the feeling! FOMO is a killer. Instead of just 'hoping and praying', maybe try waiting for a pullback to the 50 SMA on the H1 chart? It's around 5080-ish right now. That way, you're at least getting in at a better price if it bounces. FVGs are def not a sure thing, especially with all the fakeouts. Also, watch out for liquidity grabs below support. They love to sweep the lows before reversing. Don't give up tho, we all been there!