After the big gold drop last Friday, I dumped my positions earlier this week. My Precision bot was involved in many difficult trades. I only had one trade to close with Gold Digger. Following that, it was recommended to shut the bots down for a few days. I did this while wondering what money I was missing out on. Fortunately, I wasn’t losing additional funds either. (I am not looking forward to the uphill battle in getting my original principle back!) Once I heard nothing was happening with the interest rates, I couldn’t help but let the bots get back into action.

What did I do to start to rebuild trust in the gold market and my bots? The biggest thing I did was lower lot sizes. This looked differently for both bots.

• Gold Digger: For every $10,000, the lot size on this bot goes up “0.1”. If any account has $50,000, 0.5 would be the recommended lot size. But, if you are like me and run The Fed and Gold Digger in the same account, the recommended setting is a little different. On a $100,000 account, the Gold Digger lot size might be 0.6. Each person does with their bots what they feel comfortable with. Conservatively, I am in the range of 0.3 per $100,000 right now.
• Precision: My account was over $30,000. Moderate settings are a lot size of 0.01/$3000-$5000. I had my lot size at 0.05. With the 70+ drop gold did over the past week, I was in TOO deep. As gold kept dropping, the bot kept buying “scalps” all of the way down. As I timidly start up again, I am going with a very conservative settings of 0.01/$10,000. Presently, this is a lot size of 0.02.

As I prepare to be on vacation for a couple of weeks, I want to let the bots work. I just don’t want to let them dig any additional holes in my yearly earnings. 🥲