I know. "HOW? is your first question! Right? Well, it's really a simple answer. I scale GOLD. And here's the HOW I did what I did/do.
I use Forex Auto-Scaler. I have the internals set to 6 additional trades with 3 pip separation @ 1.0 lot each. My opening MT4 order is set to 0.01 lots. The big question here is WHY? If price moves away from the trade, I lose less than $1USD by closing out. If it moves my direction, I'm good.
After price breaks clear of the generated order field, I ramp up the MT4 order form price to 2.0 lots and start dropping orders in it's path. I may have 15-20 orders running before there's a retrace. When price retraces OVER my last order, I use a script to "close all open orders."
Then, I "rinse, repeat." I follow this outline over and over, using the NY session only. I've made $5K in 8 minutes several times this way.
GOLD is volatile! I'd suggest you practice this on Demo first and take the time to watch price action for several days. You'll figure it out. Trade small and often and you'll learn quickly. I put a month into learning and testing this idea before I exposed it to real money and it's proven itself greatly.
Now that I know it works, I'm happy to share it with you.
I use Forex Auto-Scaler. I have the internals set to 6 additional trades with 3 pip separation @ 1.0 lot each. My opening MT4 order is set to 0.01 lots. The big question here is WHY? If price moves away from the trade, I lose less than $1USD by closing out. If it moves my direction, I'm good.
After price breaks clear of the generated order field, I ramp up the MT4 order form price to 2.0 lots and start dropping orders in it's path. I may have 15-20 orders running before there's a retrace. When price retraces OVER my last order, I use a script to "close all open orders."
Then, I "rinse, repeat." I follow this outline over and over, using the NY session only. I've made $5K in 8 minutes several times this way.
GOLD is volatile! I'd suggest you practice this on Demo first and take the time to watch price action for several days. You'll figure it out. Trade small and often and you'll learn quickly. I put a month into learning and testing this idea before I exposed it to real money and it's proven itself greatly.
Now that I know it works, I'm happy to share it with you.