hello. What are a great setting for xauusd and timeframe for a 1000 -5000 dollar account ?
On timeframes 15/30-1h mins ? Presets have no SL for examble and i search for fast/aggressive settings with lower drawdown as 50 % .
At the moment iam using :
Timeframe M15 - Lots dynamic - Risk 0.2% / Tp 500 - Sl 0 / bullish 6 bearish 4 or 6 to 9... What is about SL ?
Edit: All my backtests from January - August (This year) was negative ,specially when you are using recommend settings with SL ...
Well, depends a little of the risk you are willing to take and what type of trader you are.
Assuming that gold is going to reach 2090 in the next week or so and is at the moment 2040...
Assuming that each 1000 is equivalent to a 0.01 lot of investment
1000 - 0.01 lot
2000 - 0.02 lot
...
5000 - 0.05 lot
more than this proportion can go wrong ...or really wrong really fast
assuming that you have no SL and intended drawdown is <50%
Tested several times a strategy that worked....for your parameters...
for a 1000 account - TREND UP/BULL
M5
lot 0.01 - fixed
no SL
no trailing
BULL = 10
BEAR = 0
TP = 50
IF you are sure what the trend is... then do not limit the number of orders
IF you do not know the trend...limit the orders to 10, so that if it goes wrong...you dont blow you account and take only minimum risk
this is a fairly safe setting
expect 30% of the account in open positions and a profit of about 50 to 100 per day ...meaning 100% back in 20 days ( if you always know the trend)
it will open > 100 order per day depending if you limit the order number - Each 0.01 lot /position will give you about 0.45$ per order...but the chance of closing that order in minutes is very big.
also for money management control....if your account goes more than 30% stalled in open positions, you can limit the number of orders.
THIS IS NOT A FIRE AND FORGET SETTINGS!!! -once a day at least...check if the trend haven't shifted. 20day ROI needs a little effort!
in theory you will only need to change BULL/BEAR - for gold (XAUUSD) i usually use 10/0 or 0/10 on BULL/BEAR and the limit order number.
TP could be bigger, but as TP gets bigger, so does the risk
Backtesting with galileu usually doesn't give you a lot of good information specially if you scalp.
You could say that it could be a bolder strategy but for me ..rule number one...dont lose money..and 2nd---earn money!
TEST IT FIRST!!! Next week will get to max of last week i think (2070) - in demo account dont limit orders...and evaluate..see if you like the setting....
Enjoy
