This is a copy of the blog post and video that members of our Forex Mentor Pro group received on Monday of this week.

Mentor & “Gold Guy” Omar Eltoukhy explained why he felt there was a BIG move brewing on gold and how he was looking to profit from it.

36 hours later many of our members made 100’s of pips, including “Crosby” who made almost 600 pips from a pre planned move!

Here is what Crosby had to say in the members only forum

“ALMOST 600 PIPS IN GOLD: Good morning everybody. I am just out of bed and behind my computer. My trades in Gold made me almost 600 pips. I had 4 trades in play. The first one was actually before the break of the triangle at 1287.97. My first thought was a small move with a spike to the R/S at 1285.

BUT THERE IT WAS. THE BIG MOVE. My trade closed outside the triangle and from there I added every break and close of a R/S to my position. Before I went to bed I set the take profit at 1263 (61,8%) and a traling stop of 40 pips.

The best day of my short career, which is almost a year now. I have to thank OMAR for this result in Gold and Marc and Pierre for the knowledge I have build over the last year. Without you guys I would not be where I am today.

It’s not just the move today. I have been profitable now for more then 6 months, with the Sunday analyses from Marc and Omar as basis for the bigger picture and the E&S approach from Pierre as my method for trading.

Let’s forget the move from yesterday and attack today with a fresh mind. I will stick to my discipline. Have a great trading week.”

Here is a copy of Omar’s Trading Gold Post and Video:

Hello Gold Traders!! Last week, our “golden opportunity” showed a glint of hope, and then quickly receded into the halls of frustration. The breakout we had been planning for, hoping for and were dying to get on to, simply evaporated by the time the candle closed. Hopes dashed, dreams destroyed (well….not really, but it’s fun to say as long as everyone realizes I’m not being serious here), we retreated back into “watching and waiting” mode before the liquidity continued to dry up and send us into a holiday weekend.

A few of us profited from a breakout of a minor trendline and horizontal s/r that occurred 2 hours before the dramatic rise above 1300 and the trendline, but I certainly left pips on the table from that order in anticipation of what was supposed to be THE breakout we had been hoping for.

This then became an example of why following the rules to the letter is so darn important though and I’m happy it at least provided a crystal clear example of why it’s “cool to follow the rules”. To recap, the hourly candle after NY open started the familiar process of breakout. We slammed through the trendline and 1300, and took off on what seemed like a very powerful move. The mental alarm bells for “all hands on deck” went off and the forum comments of “here it comes” started to appear.

I personally was excited that after a few weeks of sideways action, we might finally see a bigger move, the kind we trade gold for. But, alas it was not to be. As we approached the end of the hour, price action started to slide against the move higher. We re-broke through 1302, then 1301, and finally finished the hour just under the trendline and just 47 cents above the area of 1300. This dive at the end of the hour negated our much-anticipated breakout entry and we had to go back to sitting on our hands.

All that work for nothing! Or was it?? I must argue that we made more money NOT taking the trade!! If we had entered long at the end of the candle, we would have NEVER had a chance to make ANY money and no matter the stop (unless it was very large, then you’d just be sitting now in some -80 pips or so), it would have lost. Yup, $$$ down the drain and a smaller account balance. So if you had to take the choice in hindsight, wouldn’t it be obvious simply NOT to take the long? Wouldn’t you have more money if you didn’t enter? So, clearly more money to be made by doing nothing. I’m EXTREMELY proud to say that most of you DIDN’T take the trade, and therefore have higher account balances to show for it than if you had. Bravo, well done!!

It is a great example of how following the rules is really the difference in trading much of the time. Sure, it seemed like the market was wanting to push higher. But the rules in our system didn’t confirm that. That’s why they’re there!! I spent a lot of time working on them simply so I wouldn’t have to try and figure out things based on feelings or what I thought the market was doing. And that’s why rules are so important. We aren’t seeking “conformity” or going with the “herd” but we need rules to take the emotions out of trading that comes with a live market. By giving us objective rules, we are able to make our trading more reliable, testable and manageable. I hope that last week gives everyone another reason to harden their resolve in following the rules.

Trading Gold:

“Week Ahead In Gold:

Boy, oh boy!! Simple analysis here my friends. We NEED a breakout on the triangle. And at this point in time, that equals a break above 1300 or a break below the fib at 1287.27. We continue to head into the point of the triangle which is going to make those “intermediary” trades we have been taking intra-day so much harder. It’s now time to find your “calm” place in trading, and be patient. I believe there is a whole lot of “stuffins” in the next move, but we need the market to show us a REAL breakout, and not fake us out. All explained in the video. Also, great job to everyone who is participating in the forum. We have had special visitors from all over FXMP family and it’s become a great place to talk gold. If you haven’t joined us there yet, come on by!! Lots of great questions and analysis from the whole community. Best wishes and hopefully the next blog post will be discussing a big move that we profited from in a big way!!

If you would like to try our 5* rated Forex Mentor Program which has 4 different trading systems, daily market analysis, private members forum and email support for just $1 then CLICK HERE

Trading Gold Outlook and Weekly Review Video:

Omar Eltoukhy

GOLDTRADEMASTER.COM

Member Makes 600 Pips Profit Trading Gold