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Friday 21 June 2013

Finally I am putting an end on this frustrating week. I tried something very difficult, wasn't totally a failure but just doesn't fit the parameters I put in. I am talking about working out a system to fade moves in gold with limit orders and very small stops. I can do ok with it using stops like 10 ticks, but it's hard to expect moves of 20-30 ticks regularly from these setups to justify this risk, also several consecutive losses are very probably. 

Instead I have decided today to focus on staying with the force of order flow, entering on failing pull backs with stop orders and small stops, using compressed price action and a trigger.

Here is few screenshots of my trials today. I plan to continue next week with this type of setups. I will write a formal plan here later on today.










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