Vince's Gold Day Trades | Forex Factory

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Vince's Gold Day Trades

  • #1
  • First Post: Jul 20, 2019 2:13am Jul 20, 2019 2:13am
This is my own findings on Gold's behaviour during the day and will try to check if I can be profitable consistently on the long run.

All trades are opened during NY session and will be closed by EOD.

**more to come**
We're not here to be right, we're here to Profit Consistently!
  • #2
  • Jul 22, 2019 11:04pm Jul 22, 2019 11:04pm
Gold Sell Order Got triggered today:

Let's see what will it do...
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 1H.png Size: 23 KB
We're not here to be right, we're here to Profit Consistently!
  • #3
  • Jul 23, 2019 2:35am Jul 23, 2019 2:35am
Is this manual or automated I see a lot of orders but I didn't get the pattern I tried to connect the dots but.............. Still can't figure it out
Do you mind putting more light to what you are doing on gold and how you are doing it?
  • #4
  • Edited 3:57am Jul 23, 2019 3:41am | Edited 3:57am
Quoting sepramfx
Is this manual or automated I see a lot of orders but I didn't get the pattern I tried to connect the dots but.............. Still can't figure it out Do you mind putting more light to what you are doing on gold and how you are doing it?
Hi Sepram,

This is how I set it manually if Gold goes up, here's how I set up the Buy Stop, with 3 orders, but not all of them will be open at the same time. I only have Order 1 open first on 0.01 then set the target on TP1 then once TP1 gets hit, the 2nd order with 0.02 lot will be opened having a target of TP2, once the TP2 gets hit, the Order 3 will be opened and hit the TP3.

So, for this example. here are the possible scenarios if I lose:
1. Order 1 got triggered with 0.01 lot and hit SL = I lose $8 only
2. Order 1 got triggered with 0.01 lot and hit TP1 = I win $8. Then order 2 got triggered with 0.02 lot and hit my SL on the entry of the Order 1 = I lose $16 but will just become $8 of total loss since Order 1 won $8.
3. Order 1 got triggered with 0.01 lot and hit TP1 = I win $8. Then order 2 got triggered with 0.02 lot and hit my TP2 = I win $16. Then order 3 got triggered with 0.04 lot but hit my SL on the entry of the Order 2 = I lose $32 but total loss will become $8 only because I won $8(order 1) and $16(order 2) which makes $24 win - $32 loss. Still the total loss is the initial loss of $8 only...
4. BUT if order 1, 2 and 3 got all triggered and went to all TP = Total win will be $8 + $16 + $32 = $56 with a possible loss of $8

A whooping Risk-Reward Ratio of 1:7

Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2019-07-23 at 4.35.48 PM.png Size: 25 KB
Click to Enlarge Name: Screen Shot 2019-07-23 at 4.37.10 PM.png Size: 66 KB
We're not here to be right, we're here to Profit Consistently!
  • #5
  • Jul 23, 2019 4:46am Jul 23, 2019 4:46am
Wowwwwww! I can't help but to say a job well done. Powerful simple approach this is kind of moving with the BIG DOGS irrespective of the direction they chose to follow with a very minimal SL. The dots have been properly connected now. Thank you very much my friend
  • #6
  • Jul 23, 2019 5:21am Jul 23, 2019 5:21am
Closed manually on small profit since this trade is just supposed to be a day trade only from Monday yesterday..

Will wait for another opportunity on NY open later
Attached Image (click to enlarge)
Click to Enlarge Name: gold close.png Size: 49 KB
We're not here to be right, we're here to Profit Consistently!
  • #7
  • Jul 23, 2019 5:22am Jul 23, 2019 5:22am
Quoting sepramfx
Wowwwwww! I can't help but to say a job well done. Powerful simple approach this is kind of moving with the BIG DOGS irrespective of the direction they chose to follow with a very minimal SL. The dots have been properly connected now. Thank you very much my friend
You're very much welcome...

Glad you found it useful...
We're not here to be right, we're here to Profit Consistently!
  • #8
  • Jul 24, 2019 4:39am Jul 24, 2019 4:39am
Closed a losing trade from yesterday's long position on Gold..

Attached Image (click to enlarge)
Click to Enlarge Name: jul 24 gold.png Size: 41 KB


Just to find today that it went back up to where I entered last time on NY session.

But I stick to my own rules of closing the trade at the end of the day everyday regardless if it's a losing or winning position, coz another day is another opportunity..

Will check again later for another opportunity on this pair...
We're not here to be right, we're here to Profit Consistently!
  • #9
  • Jul 24, 2019 4:44am Jul 24, 2019 4:44am
Good day my friend, going by your rule, do you think I am doing the right thing this way? Check and comment please...........hummmmm I have another question but I will PM you the question.
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD.png Size: 24 KB
  • #10
  • Jul 24, 2019 6:26am Jul 24, 2019 6:26am
Quoting sepramfx
Good day my friend, going by your rule, do you think I am doing the right thing this way? Check and comment please...........hummmmm I have another question but I will PM you the question.{image}
Sorry but I believe Gold this time has more upside possibility... And does not fit yet on Andre's approach. Also if you will look at the structure of Gold overall, it is more of a ranging rather than trending.. Just look at the moving averages, it is more of a flat rather than trendy or there's no exhaustion on the upside for it to go down.
We're not here to be right, we're here to Profit Consistently!
  • #11
  • Jul 24, 2019 7:15am Jul 24, 2019 7:15am
Quoting ranilo.vince
{quote} Sorry but I believe Gold this time has more upside possibility... And does not fit yet on Andre's approach. Also if you will look at the structure of Gold overall, it is more of a ranging rather than trending.. Just look at the moving averages, it is more of a flat rather than trendy or there's no exhaustion on the upside for it to go down.
Having checked properly I see that I am not doing anything right on that setup, but I will keep watching what you are doing closely.
Therefore trade cancelled . Thank you
  • #12
  • Jul 24, 2019 10:45am Jul 24, 2019 10:45am
Got triggered on Long at 1429 but found out it's just rejected and saw this structure with multiple rejection on 1430 area.

So,got out at 1424 and switched my bias to Short...
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDM30 short.png Size: 51 KB
We're not here to be right, we're here to Profit Consistently!
  • #13
  • Last Post: Jul 26, 2019 12:11am Jul 26, 2019 12:11am
Gold did not move yesterday as I expected..

Yesterday was a different move, it moved up first before news then went all the way down.

Was able to catch it, but using a different approach and got out early (from 1431 to 1424 only).

Not the range breakout that I was anticipating.

Hopefully, we get a good range breakout later on.. Coz that's more rewarding...
Attached Image (click to enlarge)
Click to Enlarge Name: july 25 XAUUSDM15.png Size: 17 KB
We're not here to be right, we're here to Profit Consistently!
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