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Trading in Gold futures with help from a technical analysis
11 Nov 2021 (324 views)  

I made a profit of $8,850 USD on my trading in Gold today.

I was guided by this technical analysis sent to me by email every day by Philips Futures, the operator of the Nova platform. I trade on this platform.

At the start of today's trading session, Gold was at $1,848. The analysis recommended a long position in Gold above $1,837 with a target of $1,861 and extended to $1,869.

The price was on a downtrend, so I waited for it to reverse.

I bought 5 contracts at an average of $1,852.5 and sold them several hours later at an average of $1,865. This gave me a profit of $6,250.

When the price dropped, I re-entered the market. I bought 4 contract at an average of $1,861 and sold them at an average of $1,867.5. This gave me a profit of $2,600.

My total profit was $8,850 USD. 

I attribute my gain to luck (50%) and the guidance from this technical analysis (30%) and my trading experience (20%). 

I had practiced this approach on several occasions and learned from the mistakes and successes. Still, luck plays an important part.

Tan Kin Lian

 


Trading in Gold futures with help from a technical analysis
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I made a profit of $8,850 USD on my trading in Gold today.

I was guided by this technical analysis sent to me by email every day by Philips Futures, the operator of the Nova platform. I trade on this platform.

At the start of today's trading session, Gold was at $1,848. The analysis recommended a long position in Gold above $1,837 with a target of $1,861 and extended to $1,869.

The price was on a downtrend, so I waited for it to reverse.

I bought 5 contracts at an average of $1,852.5 and sold them several hours later at an average of $1,865. This gave me a profit of $6,250.

When the price dropped, I re-entered the market. I bought 4 contract at an average of $1,861 and sold them at an average of $1,867.5. This gave me a profit of $2,600.

My total profit was $8,850 USD. 

I attribute my gain to luck (50%) and the guidance from this technical analysis (30%) and my trading experience (20%). 

I had practiced this approach on several occasions and learned from the mistakes and successes. Still, luck plays an important part.

Tan Kin Lian