MANAGEMENT OF THE GOLD TRADE, $GCZ9, $GLD.

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On very short term trades, the difference between making money and losing money is trade management. Based on the ZYX Change Method trade management guidelines, 5% short should have been scaled in at $1082.5 and another 5% at $1100. The method suggested aggressively shorting just below $1105. and a stop zone starting just above $1105. However, the market did not cooperate as gold futures gaped higher. Based on the methodology an aggressive short position of 50% is taken at $1111. with a tight stop zone starting at $1115. Based on the price action, it is prudent to start scaling out exits around $1103. If the gold does not fall under $1103, then the complete position should be exited under $1106.

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