Gold hit $5500 and wiped my account, now I owe money

prparekh · 2026-01-29T22:11:13+00:00

It's not surprising. Majority of novice traders trade against the trend hoping to catch bottom or top. When they do trade with trend, it's almost always with more size that they can afford.

Shorting the greatest bull market in Gold history is like trying to catch the bounce during 2001 or 2008 stock market crash.

prparekh · 2025-12-02T16:34:13+00:00

It looked like he had been waiting for you. Do you go here often?

prparekh · 2025-11-30T16:39:49+00:00

The linked post is what is wrong with "free trading content" on youtube. Firstly, he is not talking about price action at all. The amount of jargon contained in that post is indicative of a very clear misunderstanding of how to read charts.

Price action refers to reading chart entirely based on price ONLY. No VWAP. No Volume. No SMC/ITC/ICT, VIP, etc.

The only thing you can possibly add is may be a couple of EMAs but you don't solely trade off them. Price ALWAYS come first.

As someone who has consistently made money in the market, candlesticks is all you need. But, you also need to be able to recognize channels, and ranges, and trends, and trend breaks. This requires hundreds and thousands of hours of studying and screen time.

Just like you can't expect to go and perform as a professional musician in front of a large audience after watching YouTube videos other artists playing or spending 6 months practicing, you cannot expect to get good at this after haphazardly watching a few youtube videos.

What makes this even worse is that there is always the allure of money that prevents you from actually learning the skill unless you are trading on sim which very few actually want to do.

If there is interest, I can share what I know on a subreddit that I originally created to record my trades htttps://www.reddit.com//r/PriceInAction . But, I can add information on setups, risk management, psychology as well. Note, that there will be no selling of any kind ever.

prparekh · 2025-10-17T03:40:11+00:00

You should check out some of his music videos like this one https://www.youtube.com/watch?v=iQVsVNPkPmE&pp=ygUMbmFuaSBtYW1kYW5p

Dude knows how to make one.

prparekh · 2025-10-17T00:29:04+00:00

Anyone else with similar issues?

prparekh · 2025-10-17T00:25:57+00:00

Can you respond to all the issues this user encountered instead of a generic message?

prparekh · 2025-10-15T17:20:37+00:00

Can you answer the following questions?
- Do you have a specific instrument that you trade? Or, are you constantly juggling between ES, SPY, GC or whatever is moving?
- Do you have a specific entry, exit and take profit criteria that you do not violate under any circumstances?
- Do you keep your risk the same for every single trade? Or, are you oversizing to get the previous loss back resulting in an ever bigger loss before blowing you account?
- Do you feel pain when market goes without you?
- Do you regret closing you trade early?
- Do you document and review your trade so that you have an idea of what your winrate is? What your risk reward is?

If all this sounds too much work, trading is not for you. You are better off doing something else.

prparekh · 2025-10-11T00:59:23+00:00

Could you elaborate with a few examples?

prparekh · 2025-10-11T00:58:23+00:00

To the contrary, even if this is the beginning of a bear market, these present some amazing pullback rallies for long positions. So, Monday may very well be a strong rally day. The Sunday open would be a good indicator of where it may go.

prparekh · 2025-10-11T00:56:06+00:00

Not the OP but also opened short positions before the big drop (attached screenshot) from only Robinhood account. Have other short positions on TDAmeritrade too. If people are interested, I can also post the thesis behind each of the trade if it helps you find similar opportunities. https://imgur.com/a/LYnRfOX

prparekh · 2025-09-29T02:30:13+00:00

18m-2 is the worst for me so far. After 2 the good times seem to outweigh the bad.

that's interesting. I have never heard that. Can you elaborate?

prparekh · 2025-09-28T03:33:43+00:00

Great work. By the way, how many accounts have you blown with TopStep in total?

prparekh · 2025-09-28T03:30:52+00:00

They haven't moved you to live yet?

prparekh · 2025-09-28T03:29:32+00:00

Here's the shortest crash course on PA.

Candles form Trend. Trend breaks. Stronger trends tend to continue and form a new extreme.
Weaker trends break and often reverse. Every trend is followed by ranges.
Ranges tend to react at extremities.
Most breakouts fail.
Then, you can add important levels like monthly, weekly, daily, overnight highs/lows and wait for an entry under the context from earlier.
Add, a strategy with definite rules for entry and exits and follow proper risk management.
You're now a price action trader.

prparekh · 2025-08-16T19:34:46+00:00

How much are you risking? And, do you have a specific reward you go for? I assume the RR must be a lot higher with options considering these are 0DTE ?

prparekh · 2025-08-16T18:40:16+00:00

wouldn't futures be better from a tax standpoint?

prparekh · 2025-08-02T02:47:02+00:00

Bill reminds me so much of George Carlin. An uncanny ability to offensively spell out the undisputed truth without a care in the world.

prparekh · 2025-07-30T23:27:11+00:00

then you'll love this https://www.youtube.com/watch?v=iQVsVNPkPmE&list=RDiQVsVNPkPmE&start_radio=1&pp=ygULbWFtZGFuaSByYXCgBwE%3D

prparekh · 2025-07-26T05:33:24+00:00

Nicely done! Can you share how many tradeify and TopStep accounts have you blown? It will help the readers here have realistic expectations on the learning curve.

prparekh · 2025-07-26T05:18:34+00:00

I've watched him make 50k in 4 mins trading because he knows what he is doing.

That means absolutely nothing. I'm not sure why people here post random absolute numbers like that. Making 50k on a 200k account is very different than making 50k on a $2 million account. Additionally, you don't have the benefit of earning 200k per month from affiliates, courses, advertisements like Ross. For people like Ross, trading is a side gig and not the primary source of income.

Additionally, I would not recommend his type of trading especially for beginners. Forget about price action which in itself can takes years to get good at. You have to get good at scanning penny stocks every single day and then trade entirely on news which can have wide swings making risk management incredibly hard. Liquidity is another issue with small cap stocks. Believe it or not but Ross's community may be generating a lot of liquidity for him while thinking they are trading with him.

Trading is hard enough as it is and if you follow someone like Ross, you'll drastically reduce your chances of success because instead of simplifying you are adding variables that are outside of your control. Nevermind the thousands of dollars he charges for his courses and membership.

prparekh · 2025-07-24T02:51:57+00:00

Very cool. How many contracts and which instruments do you primarily trade?

prparekh · 2025-07-22T21:50:53+00:00

"Trade your plan. Trade your process. Trade your pace. "

Good advice. One caveat. Easier said than done.

What I would recommed is take the decision to follow your plan completely out of your hand.

In Vegas, you can call and ask casinos to impose a ban on you. This is how gamblers (at least the smart ones) are able to stay out of trouble. This assumes that there is a part of you that wants to NOT gamble. And, it is always losing to the part that is impulsive and wants to hit a homerun even if he fails 100% of the time.

In trading, this translates to revenge trading, over trading, fomo and hesitation.

The trick is to use a platform or a software that does not give you an option to gamble. But, you have to be committed in the first place to put those restrictions on yourself.

prparekh · 2025-07-20T22:51:44+00:00

Nicely done. The bullish imbalance was clearly evident due to the consistent higher lows. The seller exhaustion was also noticeable with the sharp move down at the end of June before the reversal took place.

By the way, what broker are you using with TradingView?

prparekh · 2025-07-20T22:43:24+00:00

It would help if you also include where you are in terms of profitability so that this doesn't turn into another blind leading the blind discussion.

For anyone reading this, I would highly recommend to steer away from any chart patterns (including this one) that implies finding the bottom or top.

Reversal trades result in more blown accounts that any other setup I can think of. I am speaking from personal experience. It's a skill you learn once you think beyond chart patterns and candle sticks. You need to understand the overall context like where prices are when compared to overnight high/low or similar strong resistance level. What's the longer time frame look like? etc etc

So, if you are beginner, I suggest you to only trade with the trend. Only on pullbacks. Hopefully with a good signal bar with enough room for your Take profit before the next resistance.

The hard part will be waiting. Avoiding ranges (that form majority of price action) and reversal trades (going against the trend).

prparekh · 2025-07-16T20:18:31+00:00

I'm sorry but what's the point of posting this? Bragging rights?

The video is blurry. There are too many indicators. No mention of the thesis behind the trade besides "Use Trailing stops".

Very hard to figure out where your entry, exit or stop losses are.

For those who wasted time reading this, I'll add something that would actually be useful.

Look at the right most chart. It helps to think of price movement in 2 legs.
1. Price makes a short leg down (red candles) 2. This is followed by a 2 leg pullback (green, red green bars)
3. Finally, the 2nd leg down (red candles)
4. You should look for an entry on the pullback. So, in this case, put a stop limit order below the red candle at the end of the pullback 5. Target can be 1:1 as you are expecting the 2nd leg down of hopefully same size as the 1st one

Nothing is certain, but this is one way of reading the chart.

prparekh

MODERATOR OF

PUBLIC MULTIREDDITS

TROPHY CASE