Day trading gold: a practical routine

Day trading means opening and closing trades within the same day, so there’s no overnight or weekend risk. On gold, day trades typically aim for 100 to 400 pips.

Before the session

1. Check the calendar. Note any high-impact events and their times in your time zone (economic calendar).
2. Mark key levels. Yesterday’s high and low, this week’s high and low, and big round numbers.
3. Read the backdrop. Is the dollar strong or weak today? Is there risk-off news?
4. Set your risk. Your risk per trade and a daily loss limit.

During the session

• Focus on London and the overlap; that’s where most of the day’s range happens.
• Take only trades with a clear stop and at least 1:1.5 risk to reward.
• After TP1, move the stop to entry. Protect what the market gives you.
• Stay flat into major releases unless the trade is already well in profit.

Ending the day

Close what’s left before the New York afternoon fades, review each trade (entry, exit, did you follow your plan?), and log the result. A trading journal is the cheapest edge there is.