Daily Trade Gold

Daily Trade Gold is an exclusive EA for XAUUSD designed to trade with profit in mind.

1. Money Management

a. Risk Per Trade

b. Stop-Loss Calculation

• Use the Average True Range (ATR) indicator to determine the stop-loss distance. ATR measures market volatility and helps set a logical stop-loss level.

c. Lot Size Calculation

• Use the following formula to calculate lot size:

  Lot Size = Risk Amount Stop-Loss in Pips × Pip Value Lot Size=Stop-Loss in Pips×Pip ValueRisk Amount​

2. Entry Strategy

Use one or a combination of the following indicators to identify entry points:

a. Fibonacci Retracement

• Identify the recent swing high and swing low on the 1-hour or 4-hour chart.

• Look for price to retrace to key Fibonacci levels (38.2%, 50%, 61.8%) and show reversal signals (e.g., candlestick patterns, RSI divergence).

• Enter a trade in the direction of the trend when price reacts to a Fibonacci level.

3. Profit Target

• Set a daily profit target based on your risk-reward ratio. A common approach is to aim for a 1:2 or 1:3 risk-reward ratio.

  • For example, if your stop-loss is  22.50 , y o u r p r o f i t t a r g e t w o u l d b e 22.50,yourprofittargetwouldbe45 (1:2) or $67.50 (1:3).

• Once the profit target is achieved, stop trading for the day and wait for the next trading session.

4. Exit Strategy

• Use a trailing stop-loss to lock in profits as the trade moves in your favor.

• If the price reverses and hits your stop-loss, exit the trade immediately to limit losses

• Once DailyProfit Hit, close the trade and wait for next trading day