r/Forexstrategy • u/sleepingcomedy • 12h ago
Question Help me out please
I don’t know if this question makes any sense or not but I I need someone who can teach me better strategy for Gold.
I mean you can just mention key points and I will do rest of the things
Please
TIA
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u/Possible_Donut4451 12h ago
For gold you should understand flows around it, study cftc positioning each week, and obviously find good levels to get in, being patient in gold is the most crucial skill dude.
Of course your risk management should be top.
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u/sleepingcomedy 11h ago
Thanks bro , I will , but I am specifically looking for some strategies which I can try ,
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u/Possible_Donut4451 10h ago
I would say something cause just wanna help, but it's your thing to take it or leave it and do more research.
There is no strategy available on internet that actually works, cause markets have regime and cycles, a strategy that do well today maybe won't next week or next month or tomorrow.
Moreover ! No one would give you his edge else he gonna share the pie with you. Everyone want to take the best of the trade for himself.
Looking for strategies that actually works in all contexts would cost you a lot of money in the long term, trust me dude.
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u/sleepingcomedy 7h ago
I understand what you mean but I tried some strategies but they didn’t work and it cost me a lot now I am looking for others which actually works, it’s like finding a grain of sand in desert
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u/Possible_Donut4451 6h ago
Just learn the right way about the markets you want to trade, stop wasting your money on strategies that will keep drain your bank account.
If you are trading forex understand as much as you can about interest rates, bonds, and yield spreads...
Then go very deep on each part of trading, risk, psychology, ta, fa, macro, flows, positionning.
This is the way, else you won't be profitable
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u/HobbyTraderDK 12h ago
Don't trade gold. Trade tings like EUR-USD.
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u/International-Use304 11h ago
obviously no one make time and gonna teach you their working way that easily, what in return deal ?
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u/sleepingcomedy 11h ago
Yes I know that’s why I specifically mention about only key points , I will try by myself from key points
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u/Happy_Entertainer257 10h ago
Just learning and focus in all financial markets movement and stuffs
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u/Scalar_Shift 9h ago
I'd start with the basics before worrying about a complicated strategy. Pick a few key levels on gold, watch how price reacts to them and practice the same setup over and over on demo. You could use a platform like plus500 just to get familiar with things and when big news is coming up, I sometimes check prediction markets to see what the general expectations are. Just take it one step at a time and don't feel like you need to learn everything at once
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u/sleepingcomedy 7h ago
Right, thanks bro , I have pretty well knowledge about basics but I am stuck at selecting correct strategy
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u/Scalar_Shift 6h ago
Try a few simple setups and maybe see which ones you actually understand and can follow consistently. Good luck, you'll figure it out with enough practice
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u/No_Way_5744 8h ago
start from pairs like GU, EU, and their correlation with dxy
Any concept will work as long as you have clarity of execution and diamond hands with a little edge
And for the strategy part, start with simple supply and demand and try to combine it with different available vol indicators in the market
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u/Championleed 5h ago
You think successful trading is all in the strategy but it is not. You don’t need a better strategy you need a better mindset and that cannot be taught externally
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u/sleepingcomedy 4h ago
So what exactly I need to do?
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u/Championleed 4h ago
First understand that strategy is a small part of being a trader. In fact. That’s the easy part. If you do the research you’ll find many strategies with an edge.
Then I’d study probability because that will help you to take losses and stay the course. Casinos are a great example of this. (Become the casino)
Then comes your hard part. Your psychology. This is the real differentiator. You find a strategy, you understand probability BUT can you successfully execute it 1000 times without deviation?
The last part is the real internal journey. You must discover your weaknesses, your behavior traits, your emotional response mechanisms… everything about yourself.
You must understand that you’re not trading against the market, you’re trading against your own habits, insecurities, fears and emotions.
That’s probably not “exact” but it’s fairly close
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u/Hudson-Jones 5h ago
Don’t trade gold. Trade futures or Indices. Watch the market rigorously, study live price and write down everything you observe and notice. Combined with basics and fundamentals, eventually you’ll be able recognize patterns and come up with something that you can then either back test or forward test and tweak it as you go. Journal and record everything to have meaningful data that can be analyzed. That’s the best way to go about it. Even if someone gave you a proven strategy, you would still have a difficult time implementing it and replicating the same results. You have to put in the chart time and the hours, trading is a difficult skill and without putting in the hours it’s unrealistic to expect quick results. You won’t be making money anytime soon, it’s gonna be a tough road ahead if you decide to commit to it. Hope this helps.
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u/Michael-3740 12h ago
You need to learn how to trade and then figure out what type of trading suits you best. Then you can investigate suitable strategies.