Live Intraday Price Action Gold Trade +1415pips Profit | Dec. 7th
I just wanted to post a live intraday price action trade I took on Gold today, buying the dip on the NFP reaction as I detected strong buying interest at my level based on short term price action. Chart below:
This trade was done using a rule-based system from my Price Action Course which occurs on a daily basis across multiple pairs and instruments.
Total profit on the trade was +1415pips. In terms of risk, it ended up working out to be a 4.75x reward to risk play, meaning if I risked 100pips, I returned 475pips.
Prior to making the trade, I had commented on it in real time on my 2ndSkiesForex Facebook page.
It should be said that I know some people talk about waiting for cherry A+ setups that only come by every once in a while or a few times a week. But this is simply not true as they come every day, multiple times a day. If you are waiting for days on end to find trades like this, you are wasting your time, money, and hurting your learning curve.
Remember, a 200pip winner with a 100pip stop is the same as a 80pip trade with a 40pip stop. They produce the same amount of profit when you risk the same % equity. There is no difference.
However, those 200pip trades are not coming as often as, say an 80pip trade, and there are plenty of quality (high probability) intraday price action setups occurring everyday – you just have to learn how to spot them.
I hope this helps and good trading to you all.
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