This part two of my trade ideas on how I've trade the gold drop on the 15M chart in the last 24 hours.
Part one can be found here.
The strategy shared in part one was a trend based strategy with solid returns based on following the trend with a stop loss.
The strategy only had a 24% win rate but still had a proven record based on 100 trade sample.
As humans we are not easy with the thought of losing money and it can impact on your massively.
If a 24% win rate isn't what you are comfortable with here we have a reversal strategy which is still in early stages of development.
settings can be set individually to each instrument then the back test data sample of trades shows us how profitable a strategy has been.
This back test data provides us with the necessary information to plan for probability in our method of trading.
The strategy applied on gold 15M this time is a reversal strategy based on working within in a set period of hours.
As with every idea the trade history can be found at the foot of the idea.
The strategy has a much higher win rate at 64% over more trades, but also profit is less. However we still have a proven edge.
Note the strategy has already alerted to a potential long trade already today before presenting this next long opportunity.
As traders we have to understand that no strategy will win all the time. Gold could well continue downward but this reversal strategy is saying its time to go long.
The big choice we have to make as traders is picking a plan and style that suits us as individuals but also what we emotionally feel comfy with.
Two contrasting styles shown on the two ideas tonight. Comment below which style would suit you the most.
I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily.
Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way.
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Also, see my 'related ideas' below to see more just like this.
The stats for this pair are shown below too.
📊 Edge Strategy
🏧 Banker EA
👍🏼 POW Copy Trade
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