Here we have a rare trade in Gold. specifically the XAU/USD pair.
There was a Sell Limit order which was filled (short position).
When we look at the 5 minute chart, price was rallying higher after the initial move that brought the trade into profit.
It didn’t look like it would continue lower so it was decided to close the trade manually. +9 Points
Here is another trade on this pair. We booked +25 PIPS and now have a stop loss which provides us a risk-free trade.
*Very Important Post*
This trade yielded about 770 PIPS. There were a few other gains and losses in this pair, and the position was stopped out this morning. It had been higher earlier in the week, and was up over 900 PIPS.
This wasn’t based on a system or signal service, it was a simple chart. It was a smaller sized position. However, here are a few simple points.
This trade lasted about 15 weeks. One standard Lot would equate to about $7,700. So even if you are not able to commit substantial time to actively trading, a part time – but serious- trader could have earned this in their side business.
It currently takes about $2,100 to open a standard lot of this pair. That is with 50:1 leverage as an example.
This is a Live Account. If you do not understand how to use leverage and choose a sensible position size, generally speaking you will not be able to hold a position like this.
Charts101 Trading 