Hey Steemians, hope you guys are doing great...In this post i will share how to over leverage margin trade in Gold ( or any other market for that matter) and blow your account. Well i did make $114.70 in less than a minute only to blow it up 3x in the next 15 mts...AHH
I was bullish on Gold from 1280 range onwards and had few losses as i was long back then, well i had tight stop losses it didn't matter much.
- We had a weekly downward break out on Gold, Strong USD ...
Then i became overly bearish on Gold, was patient and managed risks/profits fine $1200 to $1170, since i was trading on smaller lots though i was right most of the times, the profits were relatively smaller.
Then i was like fk it, we are gonna go straight sub $1100 and i thought it would be foolish not to capitalize on the falling gold knife. Again went well..
Fantastic, its gonna go down, lets short it again...
So peeps next time dont do this...Dont over leverage, You may get easy money fast but a little if the price goes against your position, aint gonna end well.I'm still to learn this and work on my discipline ...
Most people only show their winning streak and if they only show you their wins, you now know what they may be hiding...It only take 1 big loss to take away all you winning and even blow your account up.
Well, though it looks like Gold is a buy as we are at an yearly low, it was early 2017 we had the similar prices on Gold, but i still think that bears are in control, so be cautious if you are long and its a good idea to have SL and TP set so that you dont have to fkn look at the chart 24*5 like me. Tbh the SL thing is still debatable as i have made most of money without keeping a SL as most of the times the price will just go hit my SL and continue the trend which i bet on and i guess thats exactly what will happen with Gold too...
Gold i guess may test $1100 level, then let's see what the chart says...
Well guys, hope this had made you aware of the risks of margin trading and the need to have proper risk management and always remember to TP and withdraw some money even if its $100 profit...You need to get a feel of it and enjoy it.
Hope this was helpful and informative peeps and do sign up to Binance or Huobi for trading/buying crypto & in IC markets to trade crypto/usd pairs in MT4. Also consider using BITMEX and try your luck at 100x :)
If you enjoyed it please do post your upvote, comment, resteem & follow.
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i think I will have heart attack when play this
Yeah haha...I had many lol, patience, discipline is the key and i still have a lot of work to do...
You are saying right Patience with discipline makes path better.
I better not try this....It so good to be true.
Too good to be true? Hope you saw the loses too haha
That's very good. But if you really want to impress me. Try to make that much with silver. Silver is a scary animal to trade.
Its the same mate, Gold and Silver goes in hand (almost)...Well, i hope you saw the money i lost aswell... I wasnt trying to impress haha...
Have made $1000's in less than half an hour trading Amazon, Google...but yea again i have to admit that have lost hell lot more in the next 10 mts after making the profit... :D
I truly appreciate your honesty. You are right. No one likes to show their losses.
thanks man for reading :)
Its very well written but not sure if i will be able to earn so much of money using what you have mentioned in your post.
I really appreciate your personality, especially your degree of honesty because, most investors will hide the bitter truth about trading and only present the juicy part to the public. Investment comes with its ups and downs so, only the strong-hearted who are ready to win survives. Thanks for the post!
Hey man thanks for writing this..Means a lot. People seldom tell the $ they lost and only show off the lambos...Trading is rather slow and steady game, discipline is the key. Was making pretty decent but the thing is you just need 1 wrong move and if you had overleveraged ,account certainly will blow up in no time...
You are welcome anytime! Keep the spirit of being a strong-hearted investor and as you do, the skies will only be your starting point of financial freedom. Cheers.
Good luck mate...
Thanks amreshchandra!
Interesting article, I think gold is always a good commodity to invest in.
Hey man thanks for dropping by, yeah almost same price as early 2017 but i feel we havent hit the bottom yet on gold and crypto for that matter...
SimonMercier, spotted some #BTCAMR similarities with #Wyck accumulation cycle. Join the discussion in the comments on
well, good that you are honest with the people here, that everyone can win, but as well loose a lot. thanks
Yea man, hard times..also look wt! is crypto upto...
It's like a dream to earn such money that you earned in less than a minute!
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Bro, look at the money i lost just after the win haha
i tried many trading sites but results was not positive, best of luck to you
Plan and execute well bro...Discipline and have a good strategy. I need to learn it myself before i preach haha .
impossible
what is impossible @razadkhan ?
Nice post.. Is that possible gold up from 1150 price?
Gold is still in a downtrend i guess Im looking at $1100+ levels...
Yes you are right.. Gold still downtrend.. Im waiting for 1140-1130 level .. Buy from there long term :)
Yeah...good luck man
Great chart analysis, @amreshchandra
Why aren’t more people called Steamers?
Lol...preference maybe?
Leverage trading comes with positives and negative , if done properly then good , other it will have adverse effect , all the best to you brother , u trade only good or any other commodity also ?????
trade everything also bro, stock forex and crytpo..
Gold really fluctuate well.You intelligently keep an eye on it and earned well. Are you invoved in currency & bitcoin trade also? @amreshchandra
Earned well, lost WELL... Haha yea currency, crypto and stocks :)
@tipu upvote this post ;)
I have been lost a lot on trading :(
I did too and over 6 fig down on crypto since ath...
okay, then gold proves to be a lucrative option for you. ;-)
erm...pls read the post full
super helpful! liked and resteemed :)
Cheers man...
thanks for best information!
thanks bro
Nice post but making money on regular basis in trading is not so simple.
Upvoted, followed and resteemed.
Exactly the way all the profits went down the drain the next minute after making $100+ in less than a minute haha
Forex trading is the job of highly skilled traders, common can only make losses not profit. losers are much more than winners.
Trading is more about discipline, appropriate lot size and having SL & TP levels set...It is possible to be profitable trader brother.
Earning money on steemit is not easy.
True. At this point for me it seems impossible.
I assure you it's possible to earn a few pennies for investing if you know what you're doing. And, that's the crux of the matter. Most people, self-included lack trading saavy. Steemit's really been a blessing for me in the year since I've joined. I've learned a lot, and still have much to learn.
If it helps, most start at square one, rank 25. I have organically grown my blog in the year without putting a penny of my own money in. That said, continuing to study how to 'maneuver' the ups and downs remains on my priority list. It's been a fun year overall; but, I assure you, it's not a 'get rich quick' formula. If you know how to trade you might find yourself with a good hobby for a tip jar.
Best regards.
Btw, here's a Welcome to Steemit tip!
Peace.
thanks for the tip!
✌
Hi @supersane! You have received 0.1 SBD tip from @spiritualmatters!
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True that bro..if not for the bots the payout wont even hit 5$ haha
Hi @amreshchandra good post but making money in trading is not so easy
Its easy to make money and even easier to loose money haha..
Exemplary function! It's differnet examining people own workout loud. I am unsure I might have the confidence.
Try a demo account mate...
good work simpal and easy is all game of information about market
Congratulations @amreshchandra!
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Thanks
This a great one,kudos to the author
Cheers bro...
Something complicated, but it is very useful to know. I think I need more trading classes to risk a transaction. Excellent post, greetings.
Try a demo account @aleestra..
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thanks man :)
That's absolutely true. I have used @smartsteem to promote this post and since its a bot it doesn't represent human curation.Agreed :)
Yeah, bid voting is a gamble with relatively less ROI for the amount you pay to promote, but the expectation and the idea behind using this is that your post will have a wider reach and if the content is good, you will gain more followers and gain real human votes and comments from other Steemians...
I would never have had these many comments and interaction here if i didnt use upvote bot service..Infact if not or the upvote service, you wouldn't have left a comment here let alone read my post or know who i'm...curious who's behind @honesteem...
Also I would appreciate it if @therealwolf would comment on this too with regard to the ROI part...Cant barely breakeven mate...Hope to hear from you soon...
That's the price of promotional service. In real life, you can't even expect partial refund, let alone ROI, when you pay an advertising firm. With falling Steem prices, it is even harder to expect a return.
To be frank, I think @honesteem's service is mostly useless because they cannot detect "paid advertisements" from off the chain, and I've been to enough Discord servers to know that they happen.
And the notion that human curation represents community appreciation is ludicrous. I guess they have never seen huge circlejerks before. But hey, that's none of my business.