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Gold with thedaytrader

  • #101
  • Aug 20, 2025 5:03am Aug 20, 2025 5:03am
Quoting notabdullah1
{quote} can you explain it shortly??
basic macd
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  • #102
  • Aug 20, 2025 5:26am Aug 20, 2025 5:26am
Quoting thedaytrader
{quote} Yes, 1hr and 4hr fractals... Always short from the top (low fractal) and long from the bottom (up fractal)...
Hey there!
I see your entry and SL logic, nice as for me. + You move SL to BE as I can see. And what is your TPs calculating logic?
Thanks in advance
Just an opinion. Based on research
  • #103
  • Aug 20, 2025 5:59am Aug 20, 2025 5:59am
Quoting thedaytrader
Here are three levels I am trading today, 2 Sell Levels and 1 Buy Level: Short : 3341.32, 3344.80 Long : 3315.17 All with initial SL of 1.5 points. When the trade hits and goes in favour, will squeeze that... will get back with trade management when they get executed.
May I please ask one more detail?
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Vertical line - is the moment in the beginning of the day when you wrote.
3 blue V-marks are 3 fractals for the current day bounce levels (if I found them right).
How do you select fractals to trade the current day?
Just an opinion. Based on research
  • #104
  • Aug 20, 2025 10:01am Aug 20, 2025 10:01am
Attachment g
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  • #105
  • Aug 20, 2025 10:34am Aug 20, 2025 10:34am
Quoting notabdullah1
5026154 {image}
breakeven with some profits
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  • #106
  • Aug 20, 2025 12:33pm Aug 20, 2025 12:33pm
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  • #107
  • Edited 9:10pm Aug 20, 2025 5:48pm | Edited 9:10pm
Quoting thedaytrader
{quote} I am done for the day... Leaving three limit orders, one sell and 2 buy with the EA... will update the results tmrw... have a nice rest of the day
Good Morning Everybody :-)

Yesterday one more SL on a short was hit in the eveneing, it was a strong run... so 3 trades total, with -1.0, -1.5, -1.0

Tally so far:

Day Date Trades Net
----- ---------- ------ -----
Day 0-20 Jul_Aug-2025 47 +23

Day 21 18-Aug-2025 3 +5.5
Day 22 19-Aug-2025 3 +2.0
Day 23 20-Aug-2025 3 -3.5

Total trades since 18-July-2025 : 56
Total profit since 18-July-2025 : 27 points

Will be back with todays trades in sometime...
Trade Like a Casino, Not a Gambler
  • #108
  • Aug 20, 2025 5:58pm Aug 20, 2025 5:58pm
Today I am trading these 5 bounce points, 2 Short and 3 Long:

Short Side : 3358.26, 3366.50
Long Side : 3334.32, 3327.84, 3315.17

All with initial 1.5 point SL, to be tightened as soon as possible :-)
Trade Like a Casino, Not a Gambler
  • #109
  • Aug 20, 2025 8:37pm Aug 20, 2025 8:37pm
Quoting since80808
{quote} Hey there! I see your entry and SL logic, nice as for me. + You move SL to BE as I can see. And what is your TPs calculating logic? Thanks in advance
There is a SL moving logic to BreakEven and then Trailing logic after that. TP is fixed. They are all time of the day dependent.

Example of set-trade-management:
1. B/E Logic: Initial is -1.5 points, if it survives this (I am buying low and selling high always), then if it goes 1 point in favour, SL moves to -1 pts, if it goes 2 points in favour then SL moves to -0.5 points, when it goes 3 points in favour, SL is break even.
2. TP : 8 points (flat)
3. Trail: Once B/E is reached, there is a SL Trail triggered, which I do with tailing it with a higher/lower of the last two fractals back on a 1-min time period.

The parameters (1,2,3,8) change a bit sometimes... but logic will remains the same... (this is a winning trade-management for ANY short term trading).
Trade Like a Casino, Not a Gambler
  • #110
  • Aug 20, 2025 8:47pm Aug 20, 2025 8:47pm
Quoting since80808
{quote} May I please ask one more detail? {image} Vertical line - is the moment in the beginning of the day when you wrote. 3 blue V-marks are 3 fractals for the current day bounce levels (if I found them right). How do you select fractals to trade the current day?
I only trade contrarian, so when the price is moving up I am looking for short, and when it is going down I am looking for long. I am not predicting where it will go, it is if it goes there then what is the likely point where it will bounce (not reverse on H1/H4, but just bounce a bit).

So when you see the chart, check on the left and see the next down and up fractal(s) from the current price position. [Up fractals when looking for Buy Bounce Points and Low Fractals when looking for Sell Bounce Points].

First I do it on H4, then go further and check H1 (most are common but sometimes additional on H1). If u see for today... there are 4 H4 points and 1 H1... (Give my points a bit rounding as when I place the trade, I give spread accommodations)...
Trade Like a Casino, Not a Gambler
  • #111
  • Aug 20, 2025 9:35pm Aug 20, 2025 9:35pm
Quoting thedaytrader
Today I am trading these 5 bounce points, 2 Short and 3 Long: Short Side : 3358.26, 3366.50 Long Side : 3334.32, 3327.84, 3315.17 All with initial 1.5 point SL, to be tightened as soon as possible :-)
Here is the 4-Hr chart with all 5 Bounce Points for today, Red Lines are Sell and Green Lines are Buy...
(One long point is a 1-Hr point, so the fractal is visible on 1-hr chart, rest are all 4-hr ones)
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Trade Like a Casino, Not a Gambler
  • #112
  • Aug 20, 2025 9:59pm Aug 20, 2025 9:59pm
timeframe, macd up or down, macd value relative to zero level, rsi value

suggest expected trade
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  • #113
  • Aug 20, 2025 10:19pm Aug 20, 2025 10:19pm
Quoting PatienceFx
timeframe, macd up or down, macd value relative to zero level, rsi value suggest expected trade {image}
remember what i said in my own thread

rsi value above 50 is bullish, below is bearish

so on which time frame do you see rsi below 50, that is the clue for reading the table
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  • #114
  • Aug 20, 2025 10:24pm Aug 20, 2025 10:24pm
on daily the general trend is
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  • #115
  • Aug 20, 2025 11:12pm Aug 20, 2025 11:12pm
Quoting thedaytrader
hello everybody :-) i am starting this thread for interactive discussion on gold trading and give my trading levels and management of trading gold. I day trade the gold with my ea takes care of getting out of the trades. The daily levels (i call them bounce points) of 1hr and 4hr fractals are decided and limit (both sell and buy) orders with an initial sl are placed at the start of the day and the sl/tp exit is managed by the ea. I was giving all the trades and levels on the gold in "interactive forums", before i was "ignored" by chiforex, the owner...
i am expecting bearish till 3310 what do you think ?
  • #116
  • Aug 20, 2025 11:31pm Aug 20, 2025 11:31pm
Quoting thedaytrader
{quote} I only trade contrarian, so when the price is moving up I am looking for short, and when it is going down I am looking for long. I am not predicting where it will go, it is if it goes there then what is the likely point where it will bounce (not reverse on H1/H4, but just bounce a bit). So when you see the chart, check on the left and see the next down and up fractal(s) from the current price position. [Up fractals when looking for Buy Bounce Points and Low Fractals when looking for Sell Bounce Points]. First I do it on H4, then go further...
So this help you identify reversal points better and faster than others. I need to learn this
  • #117
  • Aug 20, 2025 11:32pm Aug 20, 2025 11:32pm
Like this reversal
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  • #118
  • Aug 20, 2025 11:35pm Aug 20, 2025 11:35pm
So while I am looking at an indicator you have already captured a reversal and pocket it
  • #119
  • Aug 20, 2025 11:59pm Aug 20, 2025 11:59pm
Quoting PatienceFx
{quote} So this help you identify reversal points better and faster than others. I need to learn this
Well, if you are expecting/predicting a reversal soon (as you do, since I remember you were mentioning some financial news based things earlier)... these points would be good to have before hand... and if you are going without a SL in mind, then there is nothing like buying low and selling high... hahaha...

I place my trades in the morning and just watch them play out (or not) in the day (which my EA does), its a fun activity
Trade Like a Casino, Not a Gambler
  • #120
  • Aug 21, 2025 12:02am Aug 21, 2025 12:02am
Quoting PatienceFx
So while I am looking at an indicator you have already captured a reversal and pocket it
I would like to believe that I am part of the group which made it reversed... If enough people resist, the price reverses (thats how it works)... sometimes it gets rolled over you if there are not enough there or the other side is really bulky...
Trade Like a Casino, Not a Gambler
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