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Thread: Overnight Gold EA

  1. #1

    Default Overnight Gold EA

    I recently ran across an interesting piece of research on the Gold market that seems ripe for building an EA to test:

    SK Options Trading - Updates - Proposing an Overnight Gold*Fund

    The following charts seem to verify a positive expectancy, prior to the costs of trading friction:

    It seems too simple to just buy and sell the metal based on the time of the day, but I guess we should never underestimate the power of a simple idea. Anyhow, I'd sure be interested to see what Funyoo can do with this.

    Additional background on the Genesis of the strategy can be found here:
    Last edited by Chip4Pips; 10-05-2010 at 18:33.

  2. #2


    One other point of clarification: the LBMA fix is carried out twice per day, at 10:30 AM and 3:00 PM London LOCAL Time.

  3. #3
    Administrator funyoo's Avatar
    Join Date
    Sep 2008


    Hi Chip4Pips,

    If I understand well, we go short between amfix and pmfix and long between pmfix and amfix.

    Here is an EA.
    Attached Files Attached Files

  4. #4
    Senior Member
    Join Date
    Dec 2008


    does this EA trade only at night?

  5. #5


    The first part of the strategy is to go long gold overnight from the PM fix (London Local 3PM) until the AM fix (London Local 1030 AM); hypothetical results in "Long Overnight Gold Index" chart.

    The second part of the strategy is to go short gold intraday from the AM fix to the PM fix; hypothetical results combining the two strategies in "Short Intraday & Long Overnight Gold Index" chart.

    The theory from the articles is that gold is suppressed/manipulated down during the day in London, and rises due to Asian buying overnight, so it can be set to trade both sessions (if so, it will always be in the market either long or short). Obviously, the long portion of the strategy has been much more profitable during the long gold bull market. Is it good enough to stand on its own. I don't know and am going to test. Anyhow, I thought the idea was interesting and wanted to see if the strategy might actually be tradable via an EA.

    Thanks for your work, Funyoo! Now let the testing begin.

  6. #6
    Senior Member
    Join Date
    Dec 2008


    does this EA trade FOREX market ?

  7. #7


    The strategy is designed to trade spot gold with your forex dealer.

  8. #8


    Hi Funyoo and Chip4Pips,

    Wow, so far, first time I have seen an EA to trade Spot gold.

    Please kindly advise me of the best time-frame to use this EA on?

    And also please kindly post the preset file with GMT Offset = 0.

    Dear Funyoo,

    Is it possible that you could do a backtesting of this EA since 2008 up to Oct. 8, 2010 so that we can see about the profit factor, net profit gain, and Max drawdown as well as relative drawdown.

    It's really difficult for me to do the backtesting especially on spot gold. My desktop runs very very slowly, and most of the time, I can not even get modelling quality at 90%. So, my backtesting result is not reliable. I wish that you can do backtesting of this EA on Spot gold for since Jan. 2008 up to today, because I noticed that Spot gold seem to move very crazily up and down during the last 2 years up to now.

    So, if during these 2 years, this EA can have good results, it is very potential and worth forward-testing and further improving much further.

    I REALLY NEED THE OPTIMIZED SETTINGS OF THIS EA for the last 2 years up to now. I live in Vietnam, a country where almost all people love to trade Spot gold much more than Forex.

    Thanks a lot for your kind help and hard work, Funyoo !

    James Phuc

  9. #9


    any foward tests for this one?

  10. #10

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