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I've been a trader for more than 10 years now. I'm trading stock exchanges and lately also Forex. I'm getting most of my profits out of scalping gold.
Wouter Dries Bijnens
DAILY SIGNAL UPDATE:
We started the day in a great way. Lots of profitable gold trades, no drawdown and almost 1% profit.
On my last trade of the day gold turned against us, causing a bit of a DD (around 5.2%) so I deciced to close out this trade at break-even. Because of spreads and comission (and delay in copying my signal) this may have closed in a small loss for some but in general we should all be in profit for today.
As the US session is coming closer, I will stop trading gold for today. I might take some more trades near the end of the US session if can spot some good ones.
I'm thinking about increasing safety even more, but it will also affect profits. The idea would be to avoid martingale completely and put a SL on every order instead of a general 10% account SL. This way we would have more orders stopped at SL but no more then 2-3% DD. I checked the statistics and about 80% of my trades close out in profit with less then 2% DD. This means we would lose 20% of the trades and I estimate profits would be around 5%/month.
This is just an idea at the moment, I will test it on a Demo account before implementing it but I just want to hear my subscribers thoughts on this. Do you prefer to lower the risk even further with a cost of lower profits or do you want to keep risk at 10% account loss with the current profits?
We started the day in a great way. Lots of profitable gold trades, no drawdown and almost 1% profit.
On my last trade of the day gold turned against us, causing a bit of a DD (around 5.2%) so I deciced to close out this trade at break-even. Because of spreads and comission (and delay in copying my signal) this may have closed in a small loss for some but in general we should all be in profit for today.
As the US session is coming closer, I will stop trading gold for today. I might take some more trades near the end of the US session if can spot some good ones.
I'm thinking about increasing safety even more, but it will also affect profits. The idea would be to avoid martingale completely and put a SL on every order instead of a general 10% account SL. This way we would have more orders stopped at SL but no more then 2-3% DD. I checked the statistics and about 80% of my trades close out in profit with less then 2% DD. This means we would lose 20% of the trades and I estimate profits would be around 5%/month.
This is just an idea at the moment, I will test it on a Demo account before implementing it but I just want to hear my subscribers thoughts on this. Do you prefer to lower the risk even further with a cost of lower profits or do you want to keep risk at 10% account loss with the current profits?
James Wilko
2021.08.13
Could be a case for 2 seperate signals? Keep this one as is (its seemingly performing very well so?) and a new one that is very much focused on steady safer returns with low DD and no martingale. I'd be interested in seeing side by side performance after a couple of months.
Wouter Dries Bijnens
2021.08.13
Hi James, Yes I also thought about putting out 2 signals, taking both the same trades. - 1 signal as it is right now (martingale as I see fit depending on the trade, 10% account SL as security) - 1 signal having each trade with a SL and TP with no martingale This is something I will work out further in the future...
Wouter Dries Bijnens
UPDATE of today:
I tried to make up for the slow results of today (we only had 0.5% profit today) by also trading the US session, something I usually avoid at all cost.
I now also remember WHY I avoid trading the US session. Gold is easy for quick wins in the US session, but it's just as easy to loose real quick as well.
Because of 1 bad trade we took some larger drawdown (8.9% for my account) but I managed to get us out at break even.
I did make a mistake by opening a XAUAUD trade instead of a XAUUSD trade and because of this some may end the day in a small loss. (I'm sorry for this!)
For the ones that only got on board today, we should be able to make up for this tomorrow :-)
I tried to make up for the slow results of today (we only had 0.5% profit today) by also trading the US session, something I usually avoid at all cost.
I now also remember WHY I avoid trading the US session. Gold is easy for quick wins in the US session, but it's just as easy to loose real quick as well.
Because of 1 bad trade we took some larger drawdown (8.9% for my account) but I managed to get us out at break even.
I did make a mistake by opening a XAUAUD trade instead of a XAUUSD trade and because of this some may end the day in a small loss. (I'm sorry for this!)
For the ones that only got on board today, we should be able to make up for this tomorrow :-)
Wouter Dries Bijnens
Hi guys,
Here's my daily signal update again.
Today we had a difficult day. EURUSD is still causing a bit of a DD and Gold wasn't moving the way I wanted it to.
This caused me to close a Gold trade in a loss (about 0.5% account size) but still makes us close the day in a small profit.
Afterwards it seems this gold trade that I closed in a loss would've ended up in a nice profit but it's always hard to tell at the moment itself.
Anyway, always remember that it's always better to end the day at break even or take small profits than to take bad trades and end up in losses!
Hopefully tomorrow we can make some more profit again!
Here's my daily signal update again.
Today we had a difficult day. EURUSD is still causing a bit of a DD and Gold wasn't moving the way I wanted it to.
This caused me to close a Gold trade in a loss (about 0.5% account size) but still makes us close the day in a small profit.
Afterwards it seems this gold trade that I closed in a loss would've ended up in a nice profit but it's always hard to tell at the moment itself.
Anyway, always remember that it's always better to end the day at break even or take small profits than to take bad trades and end up in losses!
Hopefully tomorrow we can make some more profit again!
Wouter Dries Bijnens
Hi all,
We're up 1% again today! Gold doing the job once again!
There is one catch today: That open EURUSD trade is starting to annoy me. Currently in about 1.3% drawdown so nothing to worry about but as I want to limit risk and DD as much as possible, I don't like it.
If a gold trade should go against us tomorrow, we can really miss the extra DD caused by a trade that has been open for days now.
I'm thinking about waiting for a pullback to limit loss as much as possible and just closing it in a small loss (to me 0.5-0.75% is acceptable)
We can easily compensate this in 1 day. What do you guys think? Leaving it open untill it reaches profit (with risk of further DD) or closing out at a small loss?
Let me know!
Trade safe!
We're up 1% again today! Gold doing the job once again!
There is one catch today: That open EURUSD trade is starting to annoy me. Currently in about 1.3% drawdown so nothing to worry about but as I want to limit risk and DD as much as possible, I don't like it.
If a gold trade should go against us tomorrow, we can really miss the extra DD caused by a trade that has been open for days now.
I'm thinking about waiting for a pullback to limit loss as much as possible and just closing it in a small loss (to me 0.5-0.75% is acceptable)
We can easily compensate this in 1 day. What do you guys think? Leaving it open untill it reaches profit (with risk of further DD) or closing out at a small loss?
Let me know!
Trade safe!
Wouter Dries Bijnens
Daily update of my signal "Gold Scalp PRO":
We are ON FIRE... Once again we hit +1.75% profit today with only around 4% max DD
Going to stop trading for today because I usually try to avoid the US session.
There are still 2 EURUSD trades open with a small lot size which I'm going to leave open for the moment in the hope that they will end up in profit tomorrow.
Happy trading to all!
We are ON FIRE... Once again we hit +1.75% profit today with only around 4% max DD
Going to stop trading for today because I usually try to avoid the US session.
There are still 2 EURUSD trades open with a small lot size which I'm going to leave open for the moment in the hope that they will end up in profit tomorrow.
Happy trading to all!
· 1
Wouter Dries Bijnens
To the followers of my signal: I want to be as transparent as possible about the trades I take so therefore I will start a "traders blog" here where I will inform you about the progress of my signal.
In this first message I will discuss last month and the beginning of this month.
JULY 2021: I have to admit, the first month I started this signal was an exceptional month where we reached almost 50% profit with barely any DD. I don't want to disappoint anyone, but chances are that in the upcoming months profit will not be as high and DD may increase but I'm always aiming for a low DD and safe trading. My profit target is a minimum of 10-15%/month. In good months this can be exceeded (as happened this month)
AUGUST 2021: This month started with a couple of normal trading days where I reached between 0.70 - 1.15% profit each day. Today (06/08) I was in my last trade of the day when volatility started to increase a lot (there is news that will affect the XAUUSD pair later today!) I expected this volatility increase to happen only in about an hour or so, after getting out of my trade, but unfortunately it came earlier. I took action and closed the still open trade in a small loss so we will still end the day in a small profit.
It became clear now that if I let the trade run we would've ended up in profit without too much DD but you never know this in advance so I still stand behind my decission of closing the trade in a loss rather then to risk large DD.
What do you guys think? Do you prefer less profit with less risk, or larger profit with larger risk of high DD?
In this first message I will discuss last month and the beginning of this month.
JULY 2021: I have to admit, the first month I started this signal was an exceptional month where we reached almost 50% profit with barely any DD. I don't want to disappoint anyone, but chances are that in the upcoming months profit will not be as high and DD may increase but I'm always aiming for a low DD and safe trading. My profit target is a minimum of 10-15%/month. In good months this can be exceeded (as happened this month)
AUGUST 2021: This month started with a couple of normal trading days where I reached between 0.70 - 1.15% profit each day. Today (06/08) I was in my last trade of the day when volatility started to increase a lot (there is news that will affect the XAUUSD pair later today!) I expected this volatility increase to happen only in about an hour or so, after getting out of my trade, but unfortunately it came earlier. I took action and closed the still open trade in a small loss so we will still end the day in a small profit.
It became clear now that if I let the trade run we would've ended up in profit without too much DD but you never know this in advance so I still stand behind my decission of closing the trade in a loss rather then to risk large DD.
What do you guys think? Do you prefer less profit with less risk, or larger profit with larger risk of high DD?