The EA starts trading with opening one long and one short position, and then further positions are added in the direction of the prevailing trend whenever a certain price movement occurs. Once the basket of all open positions has reached a predetermined profit, all positions will be closed, and a new trading cycle will be started.
The strategy is based on the assumption that the gold price is usually following a trend. In market situations when the gold price is moving within a slowly increasing range long and short positions will be spread almost evenly, thus preventing the basket from closing. It might take several weeks or even months until the formation of a new trend allows the basket to be finally closed.
Trend based and follow the Trend (It goes where Trend goes, it works either Long and Short, It Follows the Trend and “Trend is his Friend”)
