Originally posted by Zestfulmocha
Good points - it is my view, albeit a lot less educated than most here, that we will continue to see the slide (But this may just be my subconscious bias as I'm hoping it does go down). It's odd to me that DJI is somehow holding high, despite volatility and apparent uncertainty, yet XAO is back where it was during 2017. My ASX plays I'm almost all in on VEC right now, super high conviction for me, DRC Gold play I'm thinking stands a good chance at shaping up to Rangold's Kibali mine, and it has been holding incredibly well despite the last few months in broader market - and I think it's lining up for a great year in gold (so if the market falls around this I will have hedged perfectly and when it's time to move on from VEC I can be less defensive and go bargain hunting!). So I guess that explains my interest in gold if nothing else clear.png
My stops are trading too close I think.... main parcels shaken out for $210 profit then I tried to chase and got burned again down $30 - that'll do me for the day I think!I still reckon it'll head to 1240, but will just watch and see what it does before taking another stab at it.
Yeah it's tricky with where to put your stops. Mine are quite wide with my style of trading, even though I trade on the larger time frames - my stop can be anywhere from 30-120pips from my entry (sometimes more if it's trending nicely). It gives plenty of room to withstand fluctuations. This is why I refer to my style as "sloppy". I realized pretty early on I'm useless at entries but was good at picking the direction so now I enter at a price I feel is appropriate, put my stop nice and wide then move it tighter as the instrument moves in my intended direction.
On a 5min chart I'm not really sure what would be best. Perhaps Rick or some of the other guys on here could shed some light.
