Gold Digger
- Thread starter Triple B
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- gold trading gold
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 .
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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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.
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!
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!
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.
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.
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
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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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?
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
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
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 $140 AUD . so much faster and easier than MT4 alone.
First 10 or so took the longest , but once I worked out the method Really went fast!
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Good evening Andy mac. Im looking to trend trade longer timeframes as sitting for hours watching the colourful candles Is just not good for me . I want to spend maybe 30mins per night on trading . With the backtesting software I have now I can start to work on testing strategies on longer TF,
Also AUS if crunching numbers . Many times there was only 1 or 2 trades per week, often 0.I only wanted
to take Break out trades with 2:1 and wide stop (outside trading range ) that could be opened during first 2 hours as thats when I would be in front of the screen. at market entries no limit or stop orders. but trade could run through NY and into next day . Some trades lasted 3 days!! before usually getting stopped for a loss.
My only complaint with the software is that you have to have different charts for different timeframes. So you cant mark up a chart on say 1hr and then switch that chart to 5min. Which is how I like to mark em up . So would have 1hr marked next to 5min then zoom out 5min and match trendlines. This took the most time of the process. the actual test trade takes about 20-30 seconds to complete once enough practice is done.
Has a very handy % of account Risk feature which automatically calculates lot sizes so just have to move the sl and tp after entry .
Only in USD or EUR account . also calculates commission. Took me a couple hours playing with the demo to convince me to spend the$.
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
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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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
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 againCould get to $1250 tonight
