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I have been trading gold (on long side ) short or intermediate term for a number of years. Since this bug continues to climb higher, I rarely have had any losing trades (just closed another more than 20 points profit today). However, I have never traded for large amount because I don't have a system for it.
I am not sure how to setup the grid for this pair because it goes up so quickly. As said by the inventor of BWILC, if the trend is strong, then just follow it and there is no need to to play this method for retracement. On the other hand, this pair is quite volatile, and the retracement might be deep. Thus, in principle, we can follow the idea of BWILC by buying a small amount when the pair is trending and buying a lot more if there is a deep retracement.
Fundamentally, gold should continue to go up because China and other nations are buying in the wake of recent money printing. What do you guys think?
PS, Xaron likes this pair.
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