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cderfv wrote:
I tried using the Expert Advisor in gold but I did not have success, you use some expert or manual?
no man i used trade eas only on currencies not on metals
honestly its really unsafe using ea's on metals. 
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sgkrishn wrote:
IMHO buy small and sell huge. again hoping for a huge drop
Do it again
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sgkrishn wrote:
cderfv wrote:
I tried using the Expert Advisor in gold but I did not have success, you use some expert or manual? no man i used trade eas only on currencies not on metals
honestly its really unsafe using ea's on metals.
Hi sgkrishn,
Could you explain why you feel it's unsafe to use expert advisors on metals? I'm interested in gold in particular. Is it the widening of the spreads that's the concern? I've been looking into developing an ea to trade gold and would appreciate your insights.
Thanks,
drofwarc
Yup due to heavy spread and low leverage.so to minimize the risk i do concentrate using ea's on forex rather than metals. but i use to trade manually on metals.
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Thanks for the reply.
For the sake of this discussion, you should know that I trade on the hourly, H4 and daily timeframes.
I've done my backtesting with a 50 pip spead, so I think I'm pretty safe on that front as my broker's spread is usually in the 30-40 pip range. Also, my EA has a max spread setting to prevent trades opening when the spreads widen beyond a set level.
My main concern about spreads is that they could widen and close open trades at a loss. Of course, they could also close trades for a profit. The problem is the lack of control over the exits, which could lead to different results in live trading than I've been getting in backtests.
I'll soon begin live trading, so all will be revealed:)
If you have any comments on what I've written or additional thoughts to share on gold trading, I would appreciate it.
Kind regards,
drofwarc
ya which seems so good you are trading on large timeframes espcially in metals. very eager to know what type of ea you are using on metals.
thanks
fxdrofwarc wrote:
Thanks for the reply. For the sake of this discussion, you should know that I trade on the hourly, H4 and daily timeframes.
I've done my backtesting with a 50 pip spead, so I think I'm pretty safe on that front as my broker's spread is usually in the 30-40 pip range. Also, my EA has a max spread setting to prevent trades opening when the spreads widen beyond a set level.
My main concern about spreads is that they could widen and close open trades at a loss. Of course, they could also close trades for a profit. The problem is the lack of control over the exits, which could lead to different results in live trading than I've been getting in backtests.
I'll soon begin live trading, so all will be revealed:)
If you have any comments on what I've written or additional thoughts to share on gold trading, I would appreciate it.
Kind regards,
drofwarc
User's signature
http://www.myfxbook.com/members/FutureG … te/1086526
Take Risk Make A Mistake Learn Something New
If You Like my share kindly hit the THANKS button.
Gold: Will it break the range?
The metal could see a break below USD 1203.88 if Yellen talks up the US dollar, while ECB’s Draghi sounds upbeat on the Eurozone economy. So far today, weakness in the US Treasury yields has supported the yellow metal.
On the other hand, further dovish talk by Fed chief could push the US dollar well above USD 1211.16 levels. In the meantime, the markets are likely to ignore the New Home Sales data due for release later today in the US.
Gold Technical Levels
The immediate resistance is seen at 1213.48 (100-DMA), above which gains could be extended to 1219.6. On the flip side, a break below 1198.9 could see the pair drop to 1190.3 levels.
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