Gold – Proceed With Caution

Within the NURP community, they are warning those of us who trade gold or use a gold trading bot. (Gold Digger) They are warning us that gold may do a partial recovery before pulling back again. What does a bot farmer do?

The Precision bot has gold on some “buy” and “sell” scalps. I am very hopeful the buy (top) trades can be closed out before gold does whatever it is going to do.

With the Precision bot, I am letting it run like it normally does. I am not making any changes to the lot sizes. Even with the significant price drop on Friday, I remain optimistic. I am trusting the bot, and the setting tweaks I have made to allow the bot to navigate the rough waters. (I will maintain the lot size of 0.05.)

With the Gold Digger, I have lowered the lot size from 1.0 to 0.8. If GD gets caught in a bad trade, it will be less worrisome for the bot to get out of it. Yes, if all of the open trades close quickly, then I am “losing out” of some income. If, however, the gold trades linger and don’t close quickly, I will be very grateful. GD will put less money at risk to close the trade.

About Andy G

Semi-retired dad of 4 biological kids and many others kids. Eyes on eternity while enjoying the blessings this life has available.
This entry was posted in algorithmic trading, Gold, Gold Digger, NURP, Precision and tagged , , . Bookmark the permalink.

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