Golden Boy - a strategy for trading gold
Good day. In the comments on reviews of trading systems, you often ask to talk about a strategy for working with gold (XAUUSD). Of course, there are many universal tactics that allow you to work with any instruments, including the yellow metal, but there are also strategies tailored only to gold (Gold). This is exactly the kind of system we will talk about today.
Characteristics of the Golden Boy Trading System
Platform: Metatrader 4
Tradable symbol: XAUUSD (gold)
Timeframe: not important
Trading time: European and American sessions
Recommended brokers: Alpari, Roboforex
Installation
Indicators are installed into the trading terminal according to the standard instructions. The process of obtaining Renko charts is described in the video lesson.
Entry Rules
1. Wait for the crossing of the blue and red MACD lines (from bottom to top for buys / from top to bottom for sells).
2. Wait for confirmation in the form of a fresh color change of the Slope Direction Line.
3. Always wait for the candle on which the signal appeared to close.
Stop Loss and Take Profit
Take profit is fixed and equals 20 points. Set the stop loss below / above the nearest local minimum / maximum.
Exit the position if the take profit was not reached and the MACD lines crossed again against our position.
Summing Up
The rules of the Golden Boy strategy are extremely simple, but nevertheless they give a good result. In essence, the entire system is based on the crossing of moving averages. And if on ordinary currency pairs such an approach would lead to losses, in combination with Renko charts and the sharp nature of gold movements, we have a stable tool for making intraday profit.
Be sure to watch the video at the beginning of the post, since the process of installing Renko charts and the analysis of trade examples are not presented in the text.
P.S. How to Count Points on Gold
Judging by the comments, many people do not fully understand what old points on XAUUSD are. Therefore, I recorded a bonus video about the specifics of calculating the points of gold price movement.
Download the Golden Boy Strategy Files
Respectfully, Pavel Vlasov TradeLikeaPro.ru
Good day. In the comments on reviews of trading systems, you often ask to talk about a strategy for working with gold (XAUUSD).