My Gold trading diary.

[VJAY]

Dear imfine,
How you switch positions on expiry?hold position upto last day of expiry?

 

[imfine]

Still in buy

 

[HigherHighs]

Hi,
Thank you for sharing your position trading strategy. I trade gold futures on COMEX and it's extremely hard to hold positions overnight with the way it swings and the margin being so high. This is why I trade intraday and it's working well so far. Have you done any back testing with hourly/120min/240 min charts etc for breakout from three consecutive highs/lows pattern? This could also reduce stop levels for position trading but also help swing traders.
I've strategies to get in on trend reversals including those for position trades. I wonder (if I follow this pattern on the daily chart), it would help me add on retracements after the breakout.

 

[VJAY]

Dear imfine,
How you switch positions on expiry?hold position upto last day of expiry?

Dear imfine,
You missed this post?!
its good to know how you switch to nxt series on expiry day....

 

[imfine]

Dear imfine,
You missed this post?!
its good to know how you switch to nxt series on expiry day....

View attachment 34627

I missed your first post. I usually try to switch to new series when difference is less. In apr series i switched today by selling at 25420 and buying may at 25500. Paying some premium is not a problem. Though i am still in loss in this trade.

Continuing my buy trade...

 

[kingkrunal]

today sell may trigger .... yesterday low 25214 ... am i correct ?

 

[imfine]

today sell may trigger .... yesterday low 25214 ... am i correct ?

sell not triggered as the candle of 3rd may is green.

 

[kingkrunal]

sell not triggered as the candle of 3rd may is green.

yes correct the low was not broken.. but my question is above setup ? isnt it valid with low of 25214 as trigger point?

 

[imfine]

View attachment 34722

yes correct the low was not broken.. but my question is above setup ? isnt it valid with low of 25214 as trigger point?

As we were in trade in april series which got expired on 30th april and the candle in your picture is of may series. So we can start only from candle of 1st may series only.

 

[VJAY]

As we were in trade in april series which got expired on 30th april and the candle in your picture is of may series. So we can start only from candle of 1st may series only.

Ok ...if here april series last 2day bars is red and may series 1st bar red(but may series last 2/1 bar not red) we take short trade?