I was away from my computer for the entire trading day and of course gold did the move that was to have been the setup to get into the trade. As a result I took the trade smaller than planned a little past the entry.
I used IAU as a proxy for gold futures or CFDs. It is cheap, under $15, so I can buy enough to let me feel comfortable with the smaller break-even move.
I did have trouble figuring out the correlation to the pricec of gold and decide to let the relative price action dictate the final entry. I may take an additional position tomorrow if there is a small pullback.
Off to bed for now, it's been a long day.
Jeff
Questrade, My direct access discount broker.
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