Hey everyone. I just wanted to share my trade story XAU/USD which I took on 23rd September 2021.
I have been trading on demo account on and off for the longest time and decided to finally dive into a LIVE account with a capital of 109USD. I don’t know about you guys, but I had the fear to trade due to my limiting beliefs that I will lose money once I start to trade. I had this belief installed in me due to my surroundings cause they saw people lose money and they themselves had lost money. They had projected their fear which in turn became my truth.
Faithfully, on 23rd September, I decided to just pop my trading cherry and enter in a BUY trade XAU/USD. Earlier in the week, Mr Partiban had shared a trading idea which he went in XAU/USD somewhere around 1751. I went in 1766.70. It was quite nerve wrecking but for me, I had my first breakthrough.
Guess what happened next? The market decided to fulfill my wishes and starting going down. I was like “OH SHIT!!! OH SHIT!!!!” no no no….”
Then the revenge trading side of me came out. I thought I would be smart buying another couple extra 0.02 lots at 1752 to save myself from further losses. I had always read about traders mentioning revenge trading but experiencing it was a whole other different story.
Guess what happened after I enter that trade? The market went down even more till 1720.56. I was seeing a FLOATING LOSS OF -99USD on my account. My inner voice was saying to me “Gone la… Money you entered just burnt like that. See what everyone was telling was the truth right. You want to trade now you suffer the -99USD loss.”
My immediate reaction was to CLOSE the trade now and just CUT THE LOSS. I decided to pause for a moment. I remembered Mr Partiban mentioned to just leave the trade alone. It will go up. I took a breather and decided to do NOTHING. I closed and left the trade alone with the thought the worst that could happen is the fact that my account would burst.
The next day, to my amazement, I HAD A PROFIT OF 2 DOLLARS… I had never been happier to see 2 dollars in my life. It was profit. Overnight, a loss of -99 dollars became profit of 2 dollars. A SINGLE DIGIT PROFIT. I decided to keep my trade going. From 2 dollars it became 10 dollars… DOUBLE DIGITS PROFITS!!!
I decided to share my mini victory with Mr Partiban. Half hour later, he asked me check the trade again. My 10 dollar profit turned to 100 dollars due to the spike all the way up to 1792.84. He advised to close the 2 trades and let 1 trade run. Based on the attached chart above, I managed to capture 66.80USD.
During this time of spiked profit, attached XAU/USD M5 which Haarshan had shared, there was a sharp spike down on 13th October where ALL THE STOP LOSS WERE HUNTED from 1777.95 to 1757.70 then it shot all the way up to 1796.04. This just goes to show how important the sharing done by Mr Partiban and Haarshan are.
Just in one trade XAU/USD which I held from 23 September to 13th October had taught me so many emotions from sadness, regret, trying to get even, contemplation, pure happiness to joy that had got me dancing in circles. These were the emotions that I went through and learnt.