# Gold Digger



## Triple B (19 November 2018)

So as I stated in the 45 entries thread , the time has come to test out my gold trading..
Why Gold.?
I have recently made 170 odd fx and gold forward tests. intra day mostly with a few overnight holds.
The stats came back as gold being my most profitable and consitent pair.

27 Trades 
8xBE
9 x win 47%
10xloss 53%
Excluding BE trades 
Pay off ratio aprox 3.5:1
Expectancy 8

So I think these numbers are worth an expanded sample of 100.
I will be taking no more than 5 trades per night. 3 intra day and 2 attempted entries for overnight holds.

The trading is discretionary with trades mainly Break-out and break downs
Reversal trading inside trading range. 
Price action , only indicators are 200ma for several timeframes represented on 15minchart
Tick volume
5 min will also be used mainly for reversals in trading range
Will also show longer timeframe charts to see overall picture

2 Types of stop losses ,wide and tight 
Targets are min 2:1 and no trade is closed at less than 2:1 . BE is the exception
Starting with $500
R is 2% and reduced or increased at $50 account intervals. ie at $450 r is $9
Expected drawdown at 50% win rate is 20% with a run of 10 losses in a row a 2% chance.
we'll see about that!
Trades will be described as Break Out below Resistance= BOBR = a potential break out buy under R
BO above R = BOAR break out buy above R
Break down above support    BDAS    A potential breakdown sold above support
Break down below Support    BDBS    A breakdown sold below support
Reversal at Resistance           RAR  
Reversal at  Support              RAS

Support and resistance are either horizontal lines or parallel trend-lines
entries will mostly be by stop or limit orders however market orders will also be used

Will show charts as I put orders on or soon as market orders are in.
Also filling out trading log , expect these 100 trades to take 5-6 weeks 
Will show log at the end of each week.
Stop in and comment . Makes things a little less Boring!
See you tomorrow afternoon about 4:45PM


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## willoneau (19 November 2018)

Looking forward to following your gold digging triple.
a winning % of 47 and RR of 3.5 is impressive IMO.


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## ducati916 (19 November 2018)

I'll probably join you in trading some gold. I won't be daytrading it, I'm looking for the swing and trend.

I'll be going long when I open the position US time, [GLD ETF].

jog on
duc


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## Triple B (19 November 2018)

Welcome fellow gold digger . 
Look forward to seeing how the longer term players trade. Might help me confirm where the orders are!?


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## Triple B (19 November 2018)

While I wait for London to open (5pm Sydney) I will post some charts and short comments .
The way I mark my charts might look a bit messy but some quick explanations will help .
Prep.
First thing is to look at forex factory calendar . I have it set up for my timezone and i check for any Red news events for USD. No USD news for tonight or tomorrow before NY close.
Main news is NFP on first friday of the month. I dont trade through these.

Next i have a quick look at the DXY USD index. currently at 96.5 and hitting a trading range resistance in 15min chart  after sell off on friday night sat morning .Trading view chart. might even break out shortly. This helps to id "possilble" direction XAU
Might be short tonight on XAU but will decide using the charts.

Next i have a quick look at SP 500 DJIA 30 and FTSE 100  ASX 200    To see if there has been any panic selling .
Gold thrives on fear in the stock market , and seeing a big correction in the Stock markets can provide the catalyst needed for Gold to break out of a consolidation. Check out the gold charts against the correction a few weeks ago. This process takes less than 5 min .
All lookin pretty civilised now on the 4hr charts making higher lows
Longer term xau  charts are already marked and then I have a look at them to remind me of where the market is.
Will keep charts small so not to chew up too much of Joe blows server Limit.


	

		
			
		

		
	
  Red Ma is weekly 200ma Orange is Daily 200ma and purple is monthly 200ma
We can see POG(price of Gold) is bouncing between the support and resistance of 1180-1360
Recently making a double bottom and now a higher low.



	

		
			
		

		
	
 now we zoom into the daily and see an uptrend channel .POG has just jumped back into most recent trading range and may be returning to support. Possible bounce off support reversal trade tonight? Red ma is daily 200ma  Blue is weekly 200ma  orange is 4h 200ma



	

		
			
		

		
	
4 Hr. Red ma is 4hr 200ma purple is 1hr 200ma yellow 15min 200ma and blue up top is daily 200ma
you can see the price action now and the clear jump back into the trading range defined by the blue horizontal lines. i mainly use the 4hr for looking at the bigger picture as you can zoom the chart out and look back a year quickly . also focus on 4hr at price action and S&R  to ID possible trade scenarios on the 15min chart.

Will post 15min chart next post


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## Triple B (19 November 2018)

Now a broad view of the 15min possible reversal trade if price turns back up over hz R green line with the help of up trend line or short down to  200ma bunch if green line broken . better RR long 3 or 4: 1
and only about 1:1 short  or real tight stop for 2:1. so long trade is preferred


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## Triple B (19 November 2018)

now watching 5min for price action and possible double bottom. price must break out above recent high on 5min and back above trend line for long with stop under green line Risk is $1.50 long .USD so $2.10 AUD per micro lot (0.01 lot)  R is $10AUD so 0.05lots aprox.
just went short and lost $5 =1% 
Buy stop now on at 0.05 1219.60 sl at 1218.10 for R of $10.26
Slow monday london open .Going to get a coffee while the support gets sorted out


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## Triple B (19 November 2018)

looking at market order for better rr


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## Triple B (19 November 2018)

bought 0.06at 1219.40 stop at 1218.09 for R $10.75 might be tight but moving up nicely
target 1223.15 for 3:1
stop will be moved to be if hz support of trading range is jumped


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## Triple B (19 November 2018)

Im off to clean the stinkin leaves out of the pool. MT4 phone app will let me know if trade gets stopped out.


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## Triple B (19 November 2018)

Turns out the mrs already did it !
Andy Mac must be fully focused tonight . 
Need full focus for shorter term stuff . Can be draining . especially if he filling his log out like a good trader


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## Triple B (19 November 2018)

Putting a buy stop at 1220.50 and sl 1218.60 for 0.04 overnight trade to bo trading range! Target $1229.50 for 5XR
if filled first order goes to BE


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## willoneau (19 November 2018)

Looking at XAUUSD


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## Triple B (19 November 2018)

DXY has broken support  and down strong


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## Triple B (19 November 2018)

Who invited the sellers! boooooo
2nd trade closed @BE


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## Triple B (19 November 2018)

1 Intra day left and overnight still on.


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## Triple B (19 November 2018)

closed overnight for -$5 1%
got 2 more entries left .
looking at entering long again on green line support,preffered or blue support with tightish stops


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## Triple B (19 November 2018)

Buy limit    0.05    @  1218.78  sl 1217.40  TP 1223.17    for 3:1
Looking at entry on double bottom intra day
still looks like support is present and would like to see a higher low


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## Triple B (19 November 2018)

Got filled now time to fill the log. might be last trade tonight. might need NY volume to get things moving. if this stop is hit then a lower low will be made and long is probably wrong!


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## Triple B (19 November 2018)

Stop now BE need to break last high and new downtrend line!


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## Triple B (19 November 2018)

Price is  nearing target so stop will be moved to 2:1 profit and move target to highest R for extra $$?


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## Triple B (19 November 2018)

Trailed stop to 2:1profit. closed at 2:1 Profit .  price reached 1223.07 10c from original target!


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## andymac (19 November 2018)

nice work !! love the commentary.


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## Triple B (19 November 2018)

Lookin to buy Below resistance for a bo. bottom of current Trading range to top of larger range for 3:1+
overnigh trade .waiting for a second touch of support to confirm Hz support. Then entry just above support with limit order will trail stop onight and wort case finish night BE
Need to break through 2 resistances to get to fresh air. But stop will be at be by the time first one is touched (hopefully)


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## Triple B (19 November 2018)

limit order just above support and sl just below uptrend line TP at 1228.50 for 7.5x R  Overnight surprise!? or BE for the night


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## Triple B (19 November 2018)

last order filled 0.08 @1221.52 sl 1220.67 tp1228.55 for about 7.5xR overnight Breakout from current trading range. will look to get stop to BE just after midnight before bed if possible.
R is $9.76
and just got stopped out! so a few $ under BE tonight.
Price went back to TR support  stop too tight should have been under the TR support.
now I will have to watch sitting on my hands filling log
Didnt make it to NY open


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## willoneau (19 November 2018)

Good to see you had the discipline to sit tight and follow your plan ,
especially if sitting on your hands is part of your plan.


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## willoneau (19 November 2018)

Do you only make 5 trades a night or do you stop after so many losses?


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## Triple B (19 November 2018)

5 trades max per night. 3 intra day trades and 2 entries to try for an overnight hold. just the one win tonight  2xR      2x 1/2 R loss( about $5 each) and a full R loss $10 puts me at -$2 for the night.
so no damage


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## ducati916 (20 November 2018)

Well I have just joined you. Long GLD @ $115.62. 

jog on
duc


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## Triple B (20 November 2018)

Gday guys . Got home just after 5 and there was a breakout happening as I turned on the pc
l=went long  @ 0.6  1223.82 sl @ 1222.68 and no target as yet as this is possibly a hold for overnight.
a BOUR Break out buy under resistance trade. I want to see price hit R above and a small bounce then stay under R till NY opens , So hopefully just the 1 Trade tonight.
I am allowd to take a trade with less than 2:1 RR to next resistance in a buy under R bo trade as the target is above the Longer timeframe Resistance., in effect I am buying a break out on a smaller timeframe  Under R
and using that as momentum to help bust through the longer timeframe (15min )
resistance. Look at the chart and that might help 


My 2:1 trades are generally inside the Trading range using S&R of Trading range and also previous S&R inside the trading range at targets and breakouts.

I should add that if the BO does happen I can take another entry when 1st entry is at BE. 
I can take 3 entries in the one BO like this if I have that many left for the nights trading.


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## willoneau (20 November 2018)

A squeeze with probable break to the up side
I'm looking for a pull back  to enter long.


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## Triple B (20 November 2018)

Gday Will
1st order now BE
2nd order above R now filled at 1225.93. sl 1224.51


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## Triple B (20 November 2018)

Should add DXY looking weak but held up by previous R now acting as support . has also broken below up trend line. no Red USD news tonight


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## andymac (20 November 2018)

good evening gents. about half hour behind you triple but same sat down and opened computer and gold jumped , thats nice. 
long1225.62  isl 1224.28 and yes good suggestion will have chopped back  risk by nearly half till i feel a bit more comfortable
did you get a payout for your overnighter triple, went the right way for yours bit choppy tho


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## Triple B (20 November 2018)

2nd order stopped out 1xR.
3 entries left .


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## willoneau (20 November 2018)

Hi andy , if we stop thinking about the money and concentrate on process money should take care of it self


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## willoneau (20 November 2018)

Waiting for two leg pull back not sure at moment though might be only one.
Put stop entry in above high if breaks , if not will move it down to lower entry signal when it happens.


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## Triple B (20 November 2018)

no the chop kept stopping me out. Finished close to BE for the night. looks like a tend line now well developed.


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## Triple B (20 November 2018)

some selling if first  order stopped out BE then look to re enter on bottom trend line for reversal long


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## andymac (20 November 2018)

i am out
yu still in your gbp one will that starting to look good?


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## willoneau (20 November 2018)

Though i would post my XAUUSD here with you triple leave my GBP thread for that and start posting US500 over with andy what you guy's think ?


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## andymac (20 November 2018)

kinda makes sense is a bit confusing chasing from thread to thread


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## Triple B (20 November 2018)

All Good, Im watching both of yours but wont fill em with xau trades. just inane comments and questions
inane
/ɪˈneɪn/
_adjective_

lacking sense or meaning; silly.


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## willoneau (20 November 2018)

andymac said:


> i am out
> yu still in your gbp one will that starting to look good?



Touched my target then bounced so waiting


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## willoneau (20 November 2018)

Yes wondered if chatting about the three was better in one thread or not your thoughts?


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## Triple B (20 November 2018)

Maybe just start a FX night traders thread , all pairs welcome  FX CHAOS
Thats what Wills thread was turning into but maybe the Title GBP USD might have stopped those trading other pairs from joining. Can still post trade night entries in your own or pair specific threads ie xau trades here or whatever.  Can maybe get some real chaos happening there .??


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## andymac (20 November 2018)

yep i like that idea. is fun and easy having one place to chat. but i like , now that i have started, one place to keep a log of what actually trying to achieve.
new listing required - triple i like your name too - so whenever your ready kick it off i say


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## willoneau (20 November 2018)

I like that too


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## Triple B (20 November 2018)

OK that way we can keep our pair specific threads,,,,,,,,,pair specific!
couple mins
!


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## willoneau (20 November 2018)

Triple B said:


> OK that way we can keep our pair specific threads,,,,,,,,,pair specific!
> couple mins
> !



I'm trading three now ?


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## Triple B (20 November 2018)

Thats ok Will FX Chaos now ready on forex section. I will keep track of my gold trades in more detail here and just a quick comment on FX Chaos. you can do as you please there , its CHAOS


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## Triple B (21 November 2018)

So Last nights trading was a debacle. Late home from work and didnt check 4 hr chart /Was like I was  trading blind. Had 5 losses and a BE. for -10% down to $450!
Was trading like a first year apprentice!!.......wait I am a first year apprentice trader!
So now Risk per trade is $9.
Prep today was much better even though I started a bit late again.
half the battle for me is to have my charts organised. i would think this is second nature for seasoned trader. something they dont even think about any more.
I now have a clean 4hr ready to go in MT4 templates and also a 4hr Already marked up with current S&R lines and trend lines for 4hr. This is my current "trading boundary "
Should only have to change these lines maybe once a week . Then I use the marked 4hr chart  and change it to 15 min. Mark the thing up . and trade the 15min . cand then change that to 5 min and do the same again.
Much better
Also going to make a minor rule change . Instead if 5 trades max goin to make it max 5 win or loss trades . BE dont count. I want to have 100 win or loss trades to get stats from not 70 or so . BE counts as Zero result to me.


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## Triple B (21 November 2018)

Currently long gold at BE BO above R inside 15min Trading range and target is the top of the range for 2:1 win


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## Triple B (21 November 2018)

Target hit win 2xR 
Now waiting for Trading range R to be hit .then enter long again on pullback. with tight stop


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## andymac (21 November 2018)

don't be too quick to discount the BE trades i think triple, will get my s@#t together and elaborate in a bit


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## willoneau (21 November 2018)

Hi triple


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## willoneau (21 November 2018)

I agree andy BE is still part of plan


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## Triple B (22 November 2018)

no , not discounting BE , Just want 100 win and loss trades . not 100trades with say 30BE and 70 results. BE trades for me are the ones that reached 1:1 R but did not make it to 2:1 target 
I move stop to BE at 1:1 very useful info for determining  potential for higher win reate etc. 
Late home from work today and so far 2 BE Trades .


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## willoneau (22 November 2018)

Hi triple
not moving much


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## willoneau (22 November 2018)

Not sure i follow as BE is usually no profit ,no loss?


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## Triple B (22 November 2018)

Was also thinking at work today about the 30 gold trades in the 170 fx tests . That was 30 Gold trades in 3 weeks or 15 trading days. So two trades a day on average. I was only taking the best set up because I had other  pairs to keep me out of the gold.  
I did notice then there is  usually 1-3 decent tradeable moves a night in gold. really going to try to take only the best . 
When looking at the one pair I start lookin for trades that simply dont make sense. This is where the self restraint will be required . I have traded before just 3 trades per night,no stats but,


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## willoneau (22 November 2018)

That is interesting as gold (XAU) was good to me last night , were GBP was hard going.


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## Triple B (22 November 2018)

Gday Will . No its dead tonight USA close early tonight I believe .
Yes BE is no loss no profit. For ME a BE trade is also a trade that moved to 1:1 and did not reach 2:1 (or better)target . In other words I move my stop to BE when price reaches 1:1 profit .
If the target is 2:1 .
I dont take 1:1 profit trades  hats not to say I wont later but testing for now
If target is say 4:1 Then Stop is managed the same . However once near 3:1 move stop to lock in 2:1 profit. So if it turns around I still get 2:1 profit .
Real hard to do sometimes but thats why Im testing things out


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## willoneau (22 November 2018)

I found last night my scaling out not working , when price went just under my 2R target then retraced taking me out at BE.


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## willoneau (22 November 2018)

Big spike in GBP?


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## Triple B (22 November 2018)

Last night was a mess for a while. I finished - 1xR 
Good move just as I was going to bed but I didnt get on that . Just sat there and watched. as By the time I realised It met all my set up list it had moved and I was just too late


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## Triple B (22 November 2018)

I will have a look in a second. Im long gold  now with some vol coming


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## Triple B (22 November 2018)

Holy crap thats a big un


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## willoneau (22 November 2018)

yep


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## Triple B (22 November 2018)

Leaked Brexit decleration!


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## Triple B (22 November 2018)

Didnt read it all but obvious ly Good For UK  .


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## willoneau (22 November 2018)

Thought it might have something to do with Brexit.


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## Triple B (25 November 2018)

So . I was reading Ducs post about COT data. (commitment of traders)
This is futures trading data , in this case Gold contract (GC)
It show the long and short positions of the different categories of traders on the futures exchanges.
I had considered looking into this a while ago , but totally forgot about it.
I trade (try to trade ) spot gold (XAU/USD)
The COT give valuable info on where the big money is positioned.
It is published on Friday afternoon at 3:30 according to The USCFTC (commodities trading mob)
Anyway the data shows positions of producers .......here it is copy and pasted


Producer/Merchant/Processor/User A “producer/merchant/processor/user” is an entity that predominantly engages in the production, processing, packing or handling of a physical commodity and uses the futures markets to manage or hedge risks associated with those activities. Swap Dealer A “swap dealer” is an entity that deals primarily in swaps for a commodity and uses the futures markets to manage or hedge the risk associated with those swaps transactions. The swap dealer’s counterparties may be speculative traders, like hedge funds, or traditional commercial clients that are managing risk arising from their dealings in the physical commodity.
Money Manager A “money manager,” for the purpose of this report, is a registered commodity trading advisor (CTA); a registered commodity pool operator (CPO); or an unregistered fund identified by CFTC.7 These traders are engaged in managing and conducting organized futures trading on behalf of clients. Other Reportables Every other reportable trader that is not placed into one of the other three categories is placed into the “other reportables” category. Spreading The Disaggregated COT sets out open interest by long, short, and spreading for the three categories of traders—“swap dealers,” “managed money,” and “other reportable.” For the “producer/merchant/processor/user” category, open interest is reported only by long or short positions. “Spreading” is a computed amount equal to offsetting long and short positions held by a trader. The computed amount of spreading is calculated as the amount of offsetting futures in different calendar months or offsetting futures and options in the same or different calendar months. Any residual long or short position is reported in the long or short column. Inter-market spreads are not considered.

Anyways ,the data Im interested in is the Money Managers , Other reportable , Non Reportable,
in other words the Speculators.
The chart below shows the CMX futures data on a chart for the last 10weeks.
Blue arrows show the close candle of the date the data was collected ,a Tuesday.
Yellow arrow show the close candle of the Friday that the data is published,at 3:30 NY time

the + or - signs show if the Trader group positions were net short=-  or net Long +
MM = Money Manager   OR = Other reportable  NR = Non Reportable ( the little guys)
SN = Speculator Net . This is the total of all the Long positions -Short positions a + means net long a - means net short x number of contracts at close Tuesday

Intersting to see the Money managers were net short -109454 on 9/10/18 and ran for the hills when the Stock markets corrected , next tuesday 16/10/18  they were net short  -49382 short  60000 contracts less! No wonder there was a massive bull stampede as they closed there short positions.
data for last  Tuesday is not available till monday Due to holidays.
Chart is a little cluttered but Legible.Small chart is a wide view of the 4hr report days marked with arrows


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## Triple B (26 November 2018)

So Last weeks effort . Low win % and drawdown.11%  No panic(yet)
Here is the stats.
Just going to keep grinding and see what happens!


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## peter2 (27 November 2018)

Certainly there's no need to panic, but you should be concerned by the low W%. Your determination to keep grinding it out isn't going to be enough. Like another you seem determined to do a set number of trades each day/week. What if there's only one perfect setup each day? Are you going to trade crap to ensure you trade your daily quota? 

IMHO you should be focusing on one aspect of your trading and trying to improve it. Identify your most common mistake and work on eliminating this from your trading. 

If you're trading perfectly and these are your results then I'd say you're setups/entries aren't good enough. Trading setups should indicate when there's a higher probability (>50%) of price moving in your direction. They don't guarantee a winning trade but they should allow you to skew the results favourably.


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## aus_trader (27 November 2018)

Triple B said:


> So Last weeks effort . Low win % and drawdown.11%  No panic(yet)
> Here is the stats.
> Just going to keep grinding and see what happens!
> 
> ...



Keep going mate and take what Peter2 said above into consideration like not overtrading.


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## andymac (27 November 2018)

_*Are you going to trade crap to ensure you trade your daily quota?*_
hi triple , so P2 has a couple of valid points above, i think, but it was this comment that stuck with me along with the "identify your most common mistake."
for my bit i have been chewing on this gold thing for most of the day. i said to you last week it could be a bitch and sometimes i consider flicking it all together, but other times it works. my thoughts for a while have been around trying to find a filter to stick on it to try and avoid the really bad bits.
if you have a look at the chart attached, i think i really should not have been bothering with gold at all since about the 16/11. it has been solidly sideways in a fairly tight range. to make matters worse the average range of the bars has been increasing for the last few days, meaning the bouncing up and down within each bar is getting larger , too large to be trying to trade this on small timeframes with tight stops. a fair amount of those bars range $2 or more each.
looking at last night on a 15m chart it was whipsaw city.
i am not sure how to filter this, love to hear comments. i am thinking about instituting a simple rule for gold that says something like don't trade it once macd starts to make lower highs on a 4 hr chart in an uptrend, opposite for down.
really it is the same simple story we want to be trading trends not sideways markets, but i think gold is worse than most when not trending.
just to be clear i understand that in your trading plan as with mine there are valid entries in this market, i am proposing an over arching blanket rule(filter) that just turns off my trading for gold under certain market conditions.


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## Triple B (27 November 2018)

peter2 said:


> Are you going to trade crap to ensure you trade your daily quota?




OK No Quota , Should really be no More than aprox 4 trades per night in XAU

Last night had 10 . not happy.

Most common mistake is random/poor  entries, Im feeling like doing nothing is un -productive,and needing to do something ,anything  . My previous decent results in gold were when I was trading other pairs as well.
So felt like I was busy, able to wait for setups because I was always moving stops or filling log or something.
Might practice scalping EUR USD  in Demo . while I wait for XAU set ups
Thanks for the advice


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## Triple B (27 November 2018)

Also just took a trade outside XAU to give account a boost .  The set up was too good to pass up. 
now Im profiting from it and feel guilty.


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## andymac (27 November 2018)

yep gets you whichever way you turn


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## Triple B (27 November 2018)

Really not working for me at the moment .Might play around on demo for a bit .Have a couple Ideas I might try out .
As you say Andy when XAU goes sideways its danger time. Im goin to try similar setups on shorter timframes other pairs in demo for a while .


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## andymac (27 November 2018)

yep good idea, it can very quickly turn into bad trades via frustration, i am close to that point myself, so stepping back, getting comfortable again on the demo, or just taking a break ,,, all good ideas


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## Triple B (27 November 2018)

Of course when I go to demo Gold starts a nice reversal off support. So I went long live!
also set up long wti . all at BE with tight stops multi RR


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## andymac (27 November 2018)

jus had a look at xti  that trend down since start of october, that what i want to trade ALLL the time


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## Triple B (27 November 2018)

Yes , just put short on at top and open pockets


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## aus_trader (28 November 2018)

As andymac said, it's pretty hard to trade when gold is going sideways. If another bull market starts in gold I'll be looking to trade it. I may even put on a long position for the long term once the trend is confirmed.


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## Triple B (28 November 2018)

Yes , a trend would be nice,although I did get a nice couple trades from the bounce off support then the short back down last night. My best trading seems to be when I am watching multiple pairs. getting a "feel " for the market. 
Also trading aggressively in short bursts seems to work for me. 
That kind of like my personality , dont do much the,,bam ,a frenzy of activity!


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## Triple B (29 November 2018)

Well folks . Looks like this wannabe Trader is relegated to demo for a few months!
Not enough win% have to start all over again. managed to halve my account!
So $100000 demo .  No more $ to the fx chaos machine for a while. 
Have been taking trades that dont even resemble what Im supposed to do!
Looks like the whiteboard will get a workout.


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## Triple B (3 December 2018)

So . XAU is climbing strong, looks about to break a resistence 1228 up to 1235
Backtested eur usd breakouts london open 5min over 3 years and came up with a loser about 10% over the 3 years. So will keep backtesting other pairs  . Going to look at trend trading daily ,. less time trading per day.
Also went long wti this morning and long xau now


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## aus_trader (3 December 2018)

Triple B said:


> So . XAU is climbing strong, looks about to break a resistence 1228 up to 1235
> Backtested eur usd breakouts london open 5min over 3 years and came up with a loser about 10% over the 3 years. So will keep backtesting other pairs  . Going to look at trend trading daily ,. less time trading per day.
> Also went long wti this morning and long xau now



Hi Triple B, 3 years of back-testing on the 5min chart can take ages if done manually. Are you using some automated tool for doing this to get results faster?


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## andymac (3 December 2018)

evening triple. so will get to posting some results in a bit , but summary- i had a crap week last week, but strangely it doesn't seem to be bothering me too much , maybe this is a problem possibly it is because i felt i learnt something, or more to the point had something hammered home to me. so last week was about minus 10r, i sat and watched 3 particular trades go from a total value of plus 11.5 to close them at combined plus 2, something else that normally aggravates but again feeling quite calm about it all. so long and short for this week is , like you might be, longer timeframes but most importantly - trending markets - !!!!!!!
long xau, long aud,  lets see if i can hang on to something this time


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## Triple B (3 December 2018)

aus_trader said:


> Hi Triple B, 3 years of back-testing on the 5min chart can take ages if done manually. Are you using some automated tool for doing this to get results faster?




Gday Aus .about 6 hours work over the weekend.Manual about 90trades ,trade must have been opened in first 2 hours of London. However Im using soft 4 fx Backtesting software . It has a sessions window which allows me to fast forward to the next days london open .
Using whats called visual mode trade are placed at market then fast forward to target . each trade takes about 3min to do . once in the flow, Results are recorded using MT4 account history . Also a click of button to get trade to BE. only 0 to 2 setups per night between london open and 2 hours later. Went a lot quicker than I thought. Cost was $140 AUD . so much faster and easier than MT4 alone.
First 10 or so took the longest , but once I worked out the method Really went fast!


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## Triple B (3 December 2018)

Good evening Andy mac. Im looking to trend trade longer timeframes as sitting for hours watching the colourful candles Is just not good for me . I want to spend maybe 30mins per night on trading . With the backtesting software I have now I can start to work on testing strategies on longer TF,


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## Triple B (3 December 2018)

Also AUS if crunching numbers . Many times there was only 1 or 2 trades per week, often 0.I only wanted
to take Break out trades with 2:1 and wide stop (outside trading range ) that could be opened during first 2 hours as thats when I would be in front of the screen. at market entries no limit or stop orders. but trade could run through NY and into next day . Some trades lasted 3 days!! before usually getting stopped for a loss.
My only complaint with the software is that you have to have different charts for different timeframes. So you cant mark up a chart on say 1hr and then switch that chart to 5min. Which is how I like to mark em up . So would have 1hr marked next to 5min then zoom out 5min and match trendlines. This took the most time of the process. the actual test trade takes about 20-30 seconds to complete once enough practice is done.
Has a very handy % of account Risk feature which automatically calculates lot sizes so just have to move the sl and tp after entry .
Only in USD or EUR account . also calculates commission. Took me a couple hours playing with the demo to convince me to spend the$.
Another couple hours actual backtesting to be moving along quickly as i worked out  all the features.
If you guys would like to have a look a demo is available , only 5 trades I think.
Then start again another 5 trades . If you get stuck I can try to help you here.
Im no expert but it can be a bit tricky to use at first . Of course read the instructions and watch the vids first


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## Triple B (4 December 2018)

Looks like xau is nearing the top of its recent range . This thing has been consolidating for months.
If it breaks out we might be looking at the start of a trend! Whats different about this push towards R is the strenght off support . kept getting sold into then broke through mid range and asian session pushed it higher . Might need NY volume tonight to get through last of the sellers stops above range.Then see ya!?  maybe Im already long and have a buy stop above. Looking to scale in if it goes with whats left of account after fx experiment . XAU may save the day again
Could get to $1250 tonight


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## andymac (4 December 2018)

evening , yes sitting looking at the same picture

expecting USDX to fall on its face anytime soon which may just set it all off AUD looks like XAU


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## Triple B (4 December 2018)

think of all the juicy short sellers stops ( buy orders)up there andy ,,mmmmm stops.
The bears will defend to the death . just a coupl pesky 4hr  pin top to get through over on the left.


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## Triple B (4 December 2018)

And back in long wti after stop was hit for BE last night
Bears have hold of USD JPY Go Bears


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## andymac (4 December 2018)

full house!
long xau, aud, xti, now lets see if we can manage stops  to BE and let them run


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## noirua (9 December 2018)




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## noirua (20 February 2019)

This guy talks a lot of sense and worth listening to. If you like gold that is:


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## noirua (20 February 2019)




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