ScottBogatin
Education

CHOCLATE CANDY

TVC:GOLD   CFDs on Gold (US$ / OZ)
5.25.20 GOLD 60 min chart. A lot of people are going to like this chart/video, but you have to be very careful with this. The one thing I didn't get to on this video is the risk:reward...which is not as good as with longer time frame thinking. This is one thing that I did mention: the need to recognize a market when it is contraction. Price action...the way I use it makes this king of trading more uncomfortable. I am showing what I think are set-ups for traders who trade differently than I do. In my opinion, when you are trading 60 min time frames like this...you can't be too far away from the computer...but you might be able to knock out a trade or two...and call it quits for the day. I think this kind of trading looks easy...but it is not easy for me...and when/if I get tempted from time to time...even if I make a few bucks...I really don't like it....Yet there are traders who have a different chemistry from me...and if they know when to stop and are good at knowing how to walk away from marginal trades...this might appeal to them. Paper trade it first. You won't have optimal stops frequently...and you may have more losing trades...but if you don't control the losses on the losing trades...this is the kind of trading that can make you a nice return for a couple of weeks...and then you lose it in a couple days of trading. Becareful. Don't over trade. Be wary of contracting markets.

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