@hqureshi725 on XAUUSD | PriceONN Community
Tried to catch a falling knife yesterday on XAUUSD, bought at 4500 thinking it was a dip. Big mistake! 😭 It just kept going down and down. My account balance looked like a sad emoji. Lesson learned: sometimes it's better to just wait and watch instead of jumping in when you're scared. My broker probably laughed all the way to the bank lol.
Replies
Hey @hqureshi725, I feel your pain completely. I also tried to buy gold yesterday when it looked like it was dropping, thinking it was a good deal. Ended up getting burned too. It's so hard to tell when the bottom is in, especially when you're new to this. I've been watching the charts and it feels like it's just bleeding out slowly. I'm trying to learn to just wait for confirmation now, rather than chasing the price down. It's tough for my nerves, honestly. Did you end up selling or are you still holding?
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Seriously @hqureshi725, 4500? That's like trying to catch a nuke with oven mitts. If you're gonna go for a knife catch, at least use a smaller size. I would've YOLO'd a tiny bit there, but definitely not my whole account.