Thursday, October 3, 2024

Starting with $2,300 in Micro Gold Futures - Tradeovate 

Hey guys, sharing my journey!

I'm coming from the forex markets as a USA-based trader. I’m starting out with $2,300 in an account and my futures product of choice is Micro Gold Futures. My goal is to make about $4,000, which is roughly a 74% return, and then I’ll consider scaling up to Mini Gold Futures.

I trade using both technical analysis and fundamentals, paying attention to key news events. With the USD under pressure due to things like the US strikes and the war in Ukraine, I see gold as a solid safe-haven asset. I used a similar approach with Bitcoin in 2021 and it worked well for me. My strategy revolves around supply and demand setups and price action, primarily trading between 9 and 11 AM during the New York session (EST). I also look at the London session for guidance going into New York.

I risk 1-5% per trade, or about $10 to $115, leaning towards higher risk at the start to grow the account, with a max of 2 contracts. I'll try to update with P&L Screenshots.

The only issue I’m running into on Tradeovate is that I can’t seem to trade Mini Gold Futures (QO). Anyone else having this issue? For example, on any time frame lower than 1 hour, the chart is filled with gaps, which makes it impossible to scalp properly. It’s frustrating because I enjoy scalping!

Anyone else experiencing something similar or have suggestions? Thanks!


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