Hello guys! I wan't to make this Idea and publish it right now. As you may know, I will be trading FOMC event with HF trading Machine again.
A lot of people in this community are in bad stage, with having Longs opened up there. A lot of people hedge too late, and their account is close to margin call, or margin call did happen, and now they cross the fingers for not getting a stopout.
Last time hope for these guys was NFP. I attached it in Related Ideas section. Even tho I said the right Direction, people got stoped out.
So here is way!
Because you closed your sell, too fast. You hear me saying LONG. You close it right away! WRONG.. PERIOD!! You have to be focused on your acc saving, not getting profit here.!! You will get it later with piece in mind! Now your mission is to SAVE your ACCOUNT from Stop out! The direction I am saying is to happen, once the News hit the public! But you forget one thing! SPIKE! That Spike just seconds before NFP.. 3....2.....1... BOOM, it got long! But in that 3.....2.....1.... you did a mistake!
So I give you an example, how you should react on Wednesday, if you consider my call before FOMC.
Let;s say You have BUY opened 1350. Let's say you started to hedge it 1328. Let's say it is minutes before FOMC and price is at around 1302. What you want to do is if I say it's long, you want to set Break Even on your SELL. YOU DON"T want to close it where it is! Stop being greedy! You wan't that sell money so bad, and then you want it to go up and close your long in profit so bad.. so you forget that this is about to save your account, not making money out of it. Set the Break even on sell. Because if you close it right away before event, you are exposed to Stop out right away... and huge Spike can do it in miliseconds... This is just one example, because that was common mistake 95% people did last time on FOMC. That spike did it...
Ask me in comment section below if you wan't me to say you some example of how to act. I am no STOP LOSS trader, I hedge a lot, and I have been doing it for 5 year. I have been in so deep " toilet " with some positions, and eventualy got out with Good return. Patience, strategy... 0 emotions is what you need. Right now there is a huge problem with TP PARADIGMA account, followers who follow it know I did it on purpose.. It is close to margin call, and stop out afterwards.. so you can monitor it, and see if we can get out and open a champagne. I would never let something like this to happen on my personal accounts. This is just a TP PARADIGMA project account, where I try to play out a lot of situations and see how we can fix that afterwards.
When you think you will be the time ? what level of purchases in your opinion ?
TheZabisyu
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I still wan't gold to go lower. 1305,03 and maybe even a quick dump under 1300.
Have to be patient. Patience and self control is the key here.
ArtFly
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Thank you for your answer. If FED rate hike we can expect the correction significantly lower 12....?
TheZabisyu
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I am not trying to guess here, where it will go where it will not.
I will trade FOMC with High Frequency robot as always.. and pick the dirrection based on it..
ayhanalb
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What do I have to do if I have a hedged position at 1343 long 1305 short just like in your TPParadigma account?
TheZabisyu
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Hello!.
Sorry for late reply.
In this given situation, we both want to close Sell. We don't wan't to keep them open, because 99% chance for Gold is to skyrocket.
But still I think it is not time to do it yet. Patience.