I was one of those lucky ones who was able to attend Future Obitz’ training during his stay here in the Philippines.
For those who don’t know Obitz, he is an international Forex trader from Denmark who is providing signals in Gold and indices such as NAS100 and US100.
From the training, he said that one of the mindsets that every trader should have is to do “partial closure” on their trades. He said that he has some trades from partial closures which he still hold for a couple of years. According to him, if you practice this strategy, it would give you a fortune.
Just today, I was able to see opportunity in GOLD to do partial closure. We all know that the normal performance of gold is bullish as can be seen in the month’s, week’s and day’s trend. This week however, we’ve seen that gold was on a bearish performance, which is an indication that us currency is getting stronger vs Gold.
Just around 6:40PM today (May 30, 2024), I saw an opportunity to buy the dips on Gold. Coming from downtrend, there was a consolidation and from Technical Analysis of some experts and confluences with the indicators, Gold is ready to fly high to the Moon :).
I got the chance to apply the learnings from Obitz, i.e. to do partial closure, and hold the remaining for years or until “forever”. I clicked the BUY button 4 times at around ~2332 @0.05 lot each. Then, when it hit the marks where I’m happy with the profits, I closed 0.04 lots and retained 0.01 on those 4 trades. I was unsure as to where the market is going since there are lots of news, including high impact news: 5 News @8:30 PM, and four more news from 10:00 PM up to 12:05AM. But I’m hopeful that Gold will fly high to the moon. True enough, at around 8:30PM, gold started to go up until it reached its peak of 2351 mark at around 10:30PM.
As another strategy learned from Obitz, I placed the SL of my trades to just above the entry price to ensure that I would still be profitable should there be a reversal in the market. Hopefully, I can keep these 4 trades for years. Just need to protect my account and be patient.
