GOLD 01 (by wssfx) Quick Stats
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GOLD 01 Discussion
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dimo70

Member Since Sep 07, 2010  13 posts dimo70 Sep 23 2010 at 19:46
Hello what about this EA? Do you sell it?

forexma

Member Since Feb 16, 2010  1332 posts SOLAR (forexma) Sep 24 2010 at 06:07 (edited Sep 24 2010 at 06:08 )
This is 'hold and hope' strategy. The only thing the owner relies on is the price of the gold will keep on rising. He has only buy trades, no SL and eventually someday when the price reverses.... BOOOM
He has kept a losing trade from 06.18.2010(buy @1259$) to 09.14.2010(almost 3 months) while on 07.28.2010 the price was 1156$. This is a ticking time bomb - a deeper correction or a trend reversal will wipe this account or at least wipe the profits.

"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
wssfx

Member Since Nov 24, 2009  8 posts WSSFX.COM (wssfx) Sep 29 2010 at 14:47
Well thanks for your comment... Let see what happen later with GOLD...

Trade for living can changes your life!
forexma

Member Since Feb 16, 2010  1332 posts SOLAR (forexma) Sep 29 2010 at 16:19

wssfx posted:
    Well thanks for your comment... Let see what happen later with GOLD...


The fact that you're now in the right direction doesn't mean you will allways be. As I said given the fact that you have only buys this is 'hold and hope' strategy. A deeper correction or a trend reversal will put you in a big trouble. In this world there are allways at least two directions.

"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
wssfx

Member Since Nov 24, 2009  8 posts WSSFX.COM (wssfx) Sep 30 2010 at 00:25

forexma posted:
    
wssfx posted:
    Well thanks for your comment... Let see what happen later with GOLD...


The fact that you're now in the right direction doesn't mean you will allways be. As I said given the fact that you have only buys this is 'hold and hope' strategy. A deeper correction or a trend reversal will put you in a big trouble. In this world there are allways at least two directions.


Thank you again. Yes i know what you mean. We only follow the gold up trend. If gold going down we dont sell it but we wait for buy trend appear again. Some of our buy positions will floated very long time (few months). As long we use free swap account it wont be a problem. Gold is a stable currency.

Trade for living can changes your life!
averagejoe

Member Since Jan 18, 2010  63 posts averagejoe Oct 17 2010 at 17:32
Do you recommend using it with alpari.uk? I wonder if they have a swap free account...

forexma

Member Since Feb 16, 2010  1332 posts SOLAR (forexma) Oct 22 2010 at 20:17 (edited Oct 22 2010 at 20:18 )
I'm very curious to know why did you last update this account exactly before the deep correction began on October 14-th.

"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
wssfx

Member Since Nov 24, 2009  8 posts WSSFX.COM (wssfx) Oct 23 2010 at 03:14

averagejoe posted:
    Do you recommend using it with alpari.uk? I wonder if they have a swap free account...

Alpari UK Classic account has GOLD + Swap free account.

Trade for living can changes your life!
wssfx

Member Since Nov 24, 2009  8 posts WSSFX.COM (wssfx) Oct 23 2010 at 03:15

forexma posted:
    I'm very curious to know why did you last update this account exactly before the deep correction began on October 14-th.


Updated, yes we have some floating positions but our margin still healthy :)

Trade for living can changes your life!
averagejoe

Member Since Jan 18, 2010  63 posts averagejoe Oct 31 2010 at 10:33

wssfx posted:
    
averagejoe posted:
    Do you recommend using it with alpari.uk? I wonder if they have a swap free account...

Alpari UK Classic account has GOLD + Swap free account.


I don´t think so. Alpari. uk do not offer a swap free account:

http://www.alpari.co.uk/en/trading_accounts/rollover_interest_policy.html

This bot only work good on swap free accounts?

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