GOLD TRADING SYSTEM 90 WIN ~ forex trading tax advice
I have become disillusioned by automatic trading systems and sought to find a viable manual trading system or at least piece one together, test it, and become proficient in it enough to make steady money with it - this is what I have done with this system.
It is used on a 1hr spot gold chart and takes time into consideration for opening a successful order to take advantage of cyclical price acceleration at the given time. In the this case, during my observation and manual testing (with real money) for the past 6 months, this time is 30 minutes before the new york open at 9am EST (1400 GMT). At that time price has sufficient buying or selling power behind it to make great profit quickly and with minimal risk, given the conditions below are followed. This has worked unbelievably well for me and I would like to share it with all of you because this community has helped me throughout these years of my forex journey.
I will try to post trades I take with some frequency and answer any questions. Enjoy.
From Today: By the way Spot Gold does not calculate in pips and the volitility is much greater than that of the usual forex pair. So if you took this trade today like I did at 1 mini-lot (.1 - one dollar) and got out at the blue pivot line you would have made an easy $109 with very low risk
Conditions for opening Trade:
For Buy
1. price above buy zone fib, blue rsi chart bar
2. Williams percent range indicator gold line entering or inside blue area
above -25.00
3. RSIOMA clearly crossed up
For Sell
1. Price below sell zone fib, red rsi chart bar
2. Williams Percent Range Indicator gold line entering or inside red area
below -75.00
3. RSIOMA clerly crossed down
Exceptions for opening a Trade when above conditions are met:
1. When a bar within the last 4 hours before 9am EST (1400 GMT) is extended 1000 points or more in the same direction the conditions indicate. In this case it is my experience that there is a great pobablility that even with all the trade conditions met, by 9am EST (1400 GMT) the selling or buying would have been temporarily exhuasted because of this extended candle and this trading method is dependent upon this time.
Conditions for closing Trade:
Safest
1. When price hits next pivot point line in direction of trade.
Moderately Safe
1. When the RSIOMA blue line touches the purple line again attempting to cross in the opposite direction of trade or a red or blue dot shows on the RSIOMA indicator in the opposite direction of the trade - whichever comes first.
GOLD SYSTEM.zip
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