u/bigsteve901

The sheer amount of telegram channels and tiktok lives dedicated to trading signals, especially XAUUSD, is insane.

When i first started doing it nearly 3 years ago, there were a few here and there with varied results, some you could rely on if that was your thing, and some that were pure garbage.

The reason why they were such garbage was tactical. They hand you a few winners here and there to get the numbers up in the groups, then start sending multiple signals a day that end up losing. The reason for this is, they get paid more by brokers when you lose.

They know you'll revenge trade and up the lot size, and the signal provider makes more money on the affiliate deal and i know first hand, its BIG money. (i was offered lots of deals some at 15k a month and more)

Following multiple channels can hurt your progress as a trader as you will confuse yourself in positions as one channel may say buy, another sell and with different technical analysis. You will constantly second guess yourself and eventually, blow out. Then FOMO comes and you reload the account, the cycle continues.

There is nothing wrong with taking signals, if thats your goal from the markets. Make some money on the side of your job, stop loss here TP there, but remember ..

what happens when the signal provider disappears and get burn out like i did? then what? .. next guy?

The best thing you can do for yourself is learn basic market analysis but DO NOT buy a course. Ever. Take it from me .. the educational side of this business is a mess.

Find a mentor you trust with a record and ask for a 1 on 1 from them, learn first hand. no chat rooms, just knowledge passed .. thats the best way to learn .. and KEEP IT SIMPLE

TLDR:
Cut out the noise of telegram signals
Realise its a business and you are the product
Learn market structure and basic support resistance
find a MENTOR not a course seller

i post my trades and thoughts daily on X .. search tommyxau

Im a retired XAUUSD scalper of 6 years who used to sit on the charts all day stressed and uncomfortable watching gold do its thing. I was successful for years and showed publicly my trades called before and after the fact. It was all going great!

until, boom. Burnout. It hit me so hard i did'nt see it coming. The constant stress and anxiety of performance was piling on me and it all came to a head last year when i just stopped.

This coupled with trump, gold became untradeable for me.

I spent nearly a year looking at other ways to trade the short time frames as i was, but i just couldnt get the passion back for it as i did. Thats when i got a DM randomly on X showing me a 4h strategy and to come away from XAUUSD.

It felt like giving up but in all honesty, i needed to change.

I now trade 20 pairs on the 4h time frame and life is a lot easier! .. im able to be present for my family and run my construction business as well as trade , for less than an hour a day all in

If you have any questions about scalping gold, ill do my best to answer.

I also post regularly on X .. tommyxau is the handle there

Ill leave you with this, don't be afraid to change something if its not working .. the "never give up" adage is for boomers .. always look to improve.

Tommy

who has the best communities on other apps or this one?

i want to join and share ideas with like minded people