GOLD, Gold and XAUUSD - page 134

[Ryan L Johnson]

Still scalping away...

[Ghenadie Tumco]

Ryan L Johnson #:

Still scalping away...

Time Frame?

[Vitaly Muzichenko]

tumcog #:
What time is it?

2.05 am UTC+3

[Ryan L Johnson]

tumcog #:
Time Frame?

The screenshot is of an M1 chart where trade history shows.

My trade analysis is performed on a "lesser" proprietary custom chart without access to trade history.

@Vitaly Muzichenko, it looks like you received a mistranslation.

[Satan Claws]

https://www.mql5.com/ru/blogs/post/773793

[Xanachay Phintha]

Gold has been giving scalpers plenty to work with lately, the swings between London and NY open keep creating fresh liquidity grabs. Curious what stop distance people are running on M1 scalps right now given how wide the spread gets during news windows, feels like the usual tight stops get clipped more than normal this month.

[mvf358]

Stop-losses were invented by cowards. What do you reckon is a normal profit-to-stop ratio when scalping gold?

[Ryan L Johnson]

Xanachay Phintha #:
Curious what stop distance people are running on M1 scalps right now given how wide the spread gets during news windows...

My EA uses a 10 big point dynamic "chasing" exit based on the current level of the bid price, with a 25 big point fixed "backup stop" that has never actually executed.

Again, the M1 chart is merely a data source for my timeless custom chart wherein the current bar is constructed from ticks.

[Martin Stibor]

Ryan L Johnson #:

I was staying flat when I was using a swing trading EA, and I still would be staying flat if I were still using it.

As I since developed a scalping EA (I formerly didn't believe in scalping whatsoever), I really don't care what the range nor direction is anymore. Basically, I got sick and tired of hearing about high intraday volatility in the markets on Bloomberg while my swing trading EA sat idle.

In my estimation, the current market phase is the new normal for the next 2 1/2 years or so.

Fair point, and I think that's the real split — a scalper monetizes the intraday noise a breakout approach deliberately sits through. I stay flat on purpose during the compression and only commit when a level actually gives way, so I trade less but every entry carries the same fixed risk. The tradeoff is I miss the chop you're harvesting; the upside is I'm never guessing inside the range.

And funnily enough, the resolution I was waiting for did show up — the 4080 break cleared the range and gold's run since has been the cleanest move in weeks. That's exactly the kind of tape this approach waits around for.

Your "new normal for the next 2.5 years" call is the part I keep chewing on, though. If we really are in a structurally choppy, high-intraday-vol regime, the slower breakout guys get fewer but bigger openings while scalpers eat steadily in between. What's putting a number like 2.5 years on it for you — the rate path, or something in gold's own behaviour lately?

[Ryan L Johnson]

Martin Stibor #:
What's putting a number like 2.5 years on it for you — the rate path, or something in gold's own behaviour lately?

Oh man, oh man... I better try to control my language here.

The @#$%ing president of my home country and the expiration of his last term in office.

Martin Stibor #:
The tradeoff is I miss the chop you're harvesting; the upside is I'm never guessing inside the range.

More accurately, no range is analyzed for my scalping purposes nor at my chart resolution. Having swung, and having scalped, I really can't even begin to compare those two trading frequencies.