trading aud and gold [xauusd]

sorry mate i do not know how i missed your post

in forex most brokers do not charge commission ..it is only the spread

it is easier to screw you that way

because spreads will mysteriously widen to take out your stop

 

i am long in both gold and audusd....but audusd i may reverse if my stop gets hit

 

i have made a huge change to my trading philosophy from earlier.... which was to take big positions for short time.

i now keep a position open as long as it is in a short term trend .....
i could never understand trends and when to get in and out...but recently it suddenly occurred to me how to do it

i now keep a position open as long as it is in a short term trend .....

which often for aud usd may mean more than a day

while for gold it is considerably shorter because gold is volatile and seems to have a high beta

 

what this means is that it behaves just plain nutty

i am never comfortable with it....which may in fact be a good thing with any position....

it keeps you honest.

because a sure thing does not exist and if it does it can only mean you are losing money surely


as i said in my journal i have changed my method from scalping to entering in trends


i did not know till now how to identify a trend and more importantly when to enter and exit. this suddenly occurred to me like some Christmas gift

 

going long in gold was as obvious as can be.......

not so obvious was the long in aud usd......but that too was right i think.

it it breaks the highs around 7737.......it should gain a lot more

 

closed my gold position just after i took the screen shot......

i think i got around 1.5 times my risk...but it is not something i consider.......i just try to get out when i think the trend is slightly overextended.......

i must admit i do not trust gold at all...it can drop or spike up 20-50 points without any pattern or warning.....

 

closed audusd long too got twice my risk

but just wanted to clear my head and start afresh later.....usually markets wait for Europe opening...... in about an hour and half later

 

usdjpy long opened an exploratory position with a plan to add if i see fit

 

usdchf long and added quadrupled usdjpy earlier position not shown in the chart below.....too lazy to post another chart