Best Strategy to Trade Gold (XAUUSD) with Less Drawdown

Best Strategy to Trade XAUUSD with Less Drawdown 

The only way to trade XAUUSD is by using pending orders, you just have to find the Perfect trade zone by seeing the results and Market scenario in H1, H4 and D1 timeframes if the Market is too down then Put Buy Limit at 1500 pips distance for $15 of 0.01 lot size and take profit need to be place at 200 pips distance.

Then you have to place grid orders with 10x lot size example, if the Market is at $1850 then take buy limit of 0.01 at $1835 with $2 take profit means $1837. Now second grid order of buy limit would be 10x means 0.1 lot size with $1805 distance means $30 more below with take profit of $5 so if the 10x take profit will hit you will make $50 take profit.

Same goes for Sell order limit side and vice versa, During High volatile News if you're willing to take some risk then put buy and sell limit order at $80 pips distance with $6 take profit if market touch either on buy and sell side you can easily make $60.

XAUUSD Pending Order Limit

As you can see the image above I put buy and sell order limit for consolidating states in order to avoid ambiguity during trading.

You can apply same scenario of buy and sell order to make good profit with pending orders and with less drawdown during trading Gold.

Please Note that to apply this strategy your account Must have $1000 deposit with 1:500 leverage.