Best gold scalping strategy reddit
| Best gold scalping strategy reddit. Sizing those up and executing these perfectly is the main focus. Look at he market structures. They have some of the best daytime margins $$400/ES and $1000/NQ, and they have really cheap commissions. We also encourage members to post news, rumors, and updates related to the game. The secret of scalping in general is what I call explicit trading, i. What indicators you may need for gold scalping. A choppy day for gold means its stuck in a 100 pip range. But first, let’s understand the concept behind scalping. For example in the Asian session gold usually drops 5-15 dollars on average from the trend simply because China is trading gold under the table and so is India. Apr 10, 2024 · Scalping strategies work best when strongly trending or strongly range-bound action controls the intraday tape; they don't work so well during periods of conflict or confusion. How to use a gold scalping system and strategies. Trading the right Stock is 50% of the strategy. Forex trading Robots and various Expert Advisors! What if i told you that there is a live streamer who publicly bought the weekly highs twice and sold the weekly bottom on gold. The secret sauce for me has been the timeframe/lookback interplay. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /r/Forex is the official subreddit of FXGears. The fun part starts when he you get to know he runs a paid group and has nearly 80k subs on youtube. I mainly scalp ES, but I think NQ is better for scalping. This is a 1min scalping strategy I've been developing exclusively for XAU/USD. This system is based on custom technical indicators for Metatrader 4, so unfortunately it can only be used on this Hey I’d say scalping involves a certain amount of intuition. Understanding Scalping in Gold Scalping Strategies You make profits by scalping gold, selling it as soon as its price rises slightly after your purchase. There is an absolute "No Troll" policy - this is a place where traders can learn and help each other. I love how volatile it is because it leads me to believe that it would be a good pair to trade daily. I’ve tried trailing , but it seems that it gets stopped out more often than not from small pullbacks. He is my best sentiment indicator and counter trading him has yielded almost a 100% win rate. My current plan is: Trade on paper account for a few months to get comfortable and learn good fundamentals. Welcome to FXGears. Aug 28, 2024 · Gold is very volatile, making it an excellent asset to scalp, and most traders scalp gold using the XAU/USD CFD, available in most trading platforms, including MT4, MT5, and cTrader. Gold moves with the market open and high liquidity. On this community our goal is to share most latest forex trading manual and automated strategies. A few days ago gold skyrocketed 400 pips in one minute. I've worked myself up to a $10k position on each trade. Trade crypto until I have an account worth $25K Start trading stocks. Various market generated metrics I watch continuously: I’ve been doing quite a lot of digging around looking for ways to trade gold, I have been mucking around with forex for about 4-5 months now and i’m really trying to buckle down and find a profitable strategy for trading gold. Gold makes specific market structures and the structures do react. Scalping requires large size, small moves and quick profits. You should not be relying on indicators alone to develop this sense. . com, a trading forum run by professional traders. I've been trading on and off for the last few years, mostly just messing around and I've always have gravitated towards the scalping strategy. It can see volatile a random pair to trade. Edit: id like to add that a 50% win rate is quite low for a scalping strategy… it should be up around 70-90%, at least in small cap nasdaqs, i dont know about futures. Scalping system to trade spot Gold (XAU/USD) In this article we are going to introduce a scalping trading system designed for trading spot gold (XAU/USD), which can be quite profitable if the trader follows the rules carefully. best book that includes guide to implementing algo trading software or best platform that I can use to implement scalping strategy without wasting 100+ hours on python script? if there were a prescriptive solution then it wouldn't work as the markets are a zero sum game. Had a profitable scalp earlier where I used both. knowing the technical levels the big guys use for gauging/mediating price strength and then trading directly on their back. if you don't have your own ideas for gaining an edge in various market r/scalping: The home for discussion of stock and futures scalping. The one which you make yourself with a lot of trial and error method and a lot of back testing. You can scalp this pair all day long. The best scalping strategy for gold varies based on market conditions and individual preferences. No one in their right mind will teach you this though. At least 2 times a day there will be a broad squeeze available for scalping timeframe players to participate in (intense move with strong deltas and without pullbacks). Gotta learn price action too. You learn to recognize certain patterns and act on them. Mar 24, 2023 · So whether you’re a novice trader or a seasoned pro, get ready to discover how scalping gold can help you scoop real wealth. Read this article to find out what a gold scalping strategy consists of, with practical tips on creating a custom gold scalping strategy. In your opinion what is the best stop loss strategy for scalping really low time frames like the 1-5 minute. I would suggest using AMP Futures for your broker, and selecting Rithmic for your data feed. No set strategy for futures scalping. You can be profitable adhering to any proven strategy. Scalping doesn't mean take a huge position that will eat your account alive. But i do agree gold can sometimes move 500-1000 pips a day. The best way to scalp is to use the higher time frame for analysis, take position sizes that will not cripple your account, following your strategy and stop loss and take profit placement. Being profitable with something like a PATs strategy scalping one point requires a much higher win rate than swing trading supply and demand zones, especially if you trade low amounts of contracts. I was pleasantly surprised to find that this scalping strategy helps identify the tops/bottoms of a ranging market as well. 50c and I set my stop at that level that way I lock in my daily goal. One of the most crucial things to being successful as well is to take quality You gotta find a method that suits your personality, it sounds like you’re more of a longer hold type of trader so use those strategies for yourself instead. Gold is a commodity it prices are heavily influenced by basic demand and supply even more so than forex pairs. e. Join us to explore the game's challenges, mechanic's, lore and environments and share our love for this thrilling game. All I need is $. For about a year now I have been trying to find a scalping strategy (1 minute or 5 minute) that has a high win rate and at the same time also provides at least 2-3 trading opportunities in a forex major pair every day. Share your strategies, tips, and favorite moments with fellow fans. I prefer gold because of the volume it offers, as it has an excellent amount of volatility. You should pay special attention instead to retracement and expansion. A community to discuss Affiliate marketing (AM,) paid traffic, SEO, email marketing, and more - has now been disabled indefinitely in solidarity with the current Reddit blackout to protest the new rules and regulations by Reddit CEO /spez. What I m trying now on gold (maybe it ll help) is a strategy based on three indicators (the supertrend indicator and a simple EMA + the AO) and it’s been yielding some nice results with proper risk management in place. You can eventually combine them to get the best of both worlds. This community is devoted to the teaching of strategies and resources to help traders become consistently profitable. Opening range breakout or high of day break is what I usually play. Major approaches and trading methodologies described in detail. Jun 10, 2023 · With more than 10 years of experience in trading, I have found the best gold scalping strategy. weuh rhgeyf zunm bxlmhru btzy qilon scayoh hlkjvw jis javkl |