Volatility gold scalping strategy reddit

Volatility gold scalping strategy reddit. Scalping is much more about the cost of the trade, money management, trade management, the number of ticks in relation to volatility and controlling your own greed. My goal is to set a take-profit target of 5% - 30% to scalp profit from the volatility. The strategy utilizes the Relative Strength Index (RSI) indicator along with its moving average to identify potential trade setups based on divergences between price action and RSI movements. ### 1. I am a couple weeks in using this strategy and becoming increasingly profitable. Capitalizing on moments when gold prices break through key resistance or support levels can yield significant gains, especially during periods of high market volatility. ## Key Components. 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. Jun 25, 2024 · This Pine Script implements an advanced scalping strategy for gold (XAUUSD) trading, primarily designed for the 1-minute timeframe. And you're doing breakout scalping, which is great. I was pleasantly surprised to find that this scalping strategy helps identify the tops/bottoms of a ranging market as well. I prefer gold because of the volume it offers, as it has an excellent amount of volatility. My current plan is: Trade on paper account for a few months to get comfortable and learn good fundamentals. Maybe looking for a strategy is the problem. This is a 1min scalping strategy I've been developing exclusively for XAU/USD. But The Truth is Only You Know The In And Out Of Your Strategies. There is always gonna be variance and random distribution of results, even with a successfully tested edge. This means that its price can quickly and frequently change in response to market events and news. Mar 24, 2023 · Why is Gold good for scalping? Gold is a liquid and volatile asset. I Have Made Over 300K Scalping On TOS Since May 2020 (Little More On My Other Broker). Most people should be able anticipate where the market goes for the next 1-3 candles to some degree. I've been trading for over thirty years and if you find a successful way to scalp gold, you may want to write a book, play the lottery and start throwing darts at random penny stock symbols because those are more likely to be successful. I’m looking for feedback on how to optimize this strategy and better understand the risks involved. Gold’s volatility offers traders opportunities for quick, short-term profits. Here's the Strategy: Welcome to FXGears. For those who prefer quick, short-term trades, scalping can be effective during times of high liquidity and market movement. A Lot Of People Keep Questioning / Putting Down My Strategies Since My First Thread. The results are getting better as Im getting more used to the strategy and isolating specific stocks which Im more familiar with. One thing I would say is a 60% win rate isn't always gonna be a 60% win rate. IMHO, NQ is a great scalping instrument while ES can be traded using good TA. Gold moves with the market open and high liquidity. Depending on the day, I scalp ES, but everyone’s opinion on scalping is different. Just these two instruments alone, should help you generate 6-7 figures in net gains yearly. Gold is a popular asset for scalping as it’s a highly liquid and volatile asset in the short term. When optimizing your gold scalping strategy, several trading tips can improve both the effectiveness and profitability of your operations. 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. Leveraging News and That is just one example, where I've had the best results. I am scalping gold on 1min and 5min using no indicators. Welcome to FXGears. 1. 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. Gold is a commodity it prices are heavily influenced by basic demand and supply even more so than forex pairs. You can scalp this pair all day long. Read this article to find out what a gold scalping strategy consists of, with practical tips on creating a custom gold scalping strategy. Trade crypto until I have an account worth $25K Start trading stocks. Scalpers may be high-frequency traders who enter and exit several 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. A few days ago gold skyrocketed 400 pips in one minute. A choppy day for gold means its stuck in a 100 pip range. com, a trading forum run by professional traders. You should pay special attention instead to retracement and expansion. Keep Refine It And You Will Find Your Edge In The Market. 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. . I know most people focus on scalping the high volatility times like the opening range and also the close but possibly consider the midday where moves are slower and give you an opportunity to properly analyze without being rushed. Scalping. 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. Breakout Strategies. Gold Scalping Strategy Trading Tips. Apr 10, 2024 · Scalping is a short-term trading strategy that seeks to profit from small price movements in stocks throughout the day. I love how volatile it is because it leads me to believe that it would be a good pair to trade daily. 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. Personally, I have a few other instruments in my list that trade to offset some of the volatility that index futures otherwise are capable of delivering. Ill definitely check back in, in 3months regardless of obvious sarcasm. I'm also looking for it; do you use any indicators for it? Jun 10, 2023 · With more than 10 years of experience in trading, I have found the best gold scalping strategy. It can see volatile a random pair to trade. 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. Staying updated with macroeconomic factors impacting gold prices can also enhance your scalping strategy’s effectiveness. But i do agree gold can sometimes move 500-1000 pips a day. 1:1 might work with a strategy with a high trade volume but my strategy isn't one of those. Well, classic scalping is mainly using moving averages with chart patterns. ufrnue uvui ilhp gkzee ahanywfen lozwfm yjq rqoti vwy ftbef