How do I trade gold?
Jun 21, 2024 at 17:32
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9 Replies
Membro Desde Jan 24, 2023
13 posts
Jun 21, 2024 at 17:32
I finally got good at trading. I got to the point that I’m profitable. But it’s very slow. I heard gold had a lot of movement and wanted to try it out. I currently use oanda and in the us.
Jun 23, 2024 at 07:20
delafuente993 posted:
I finally got good at trading. I got to the point that I’m profitable. But it’s very slow. I heard gold had a lot of movement and wanted to try it out. I currently use oanda and in the us.
It seems that Americans can only trade with low-leverage, high-cost brokers, and their trading strategies are very limited. I am not sure if this is true.
Gold is indeed easy to lose. I have always made profits and losses in the past few years of trading, and it has been difficult to stabilize. But since the second half of last year, the situation has been much better, at least I can make a profit.
But now I mainly use bot trading programs, which I think is more stable than manual trading.
Newton once said: If I can see farther than others, it is because I am standing on the shoulders of giants.
Jul 15, 2024 at 14:52
Gold trading is very challenging, compared to major pairs like GBPUSD, the potential return on gold is higher than major pairs, and the risk is also high, without patience in waiting and repeating reckless decisions, loss will become true
Membro Desde Jan 24, 2023
13 posts
Jul 16, 2024 at 20:52
Fxzambia posted:
Gold trading is very challenging, compared to major pairs like GBPUSD, the potential return on gold is higher than major pairs, and the risk is also high, without patience in waiting and repeating reckless decisions, loss will become true
What broker can I use to trade gold?
Jul 17, 2024 at 07:03
delafuente993 posted:Fxzambia posted:
Gold trading is very challenging, compared to major pairs like GBPUSD, the potential return on gold is higher than major pairs, and the risk is also high, without patience in waiting and repeating reckless decisions, loss will become true
What broker can I use to trade gold?
Do you want to choose a broker with lower spreads or one with higher rebates?
Jul 17, 2024 at 09:04
delafuente993 posted:
I finally got good at trading. I got to the point that I’m profitable. But it’s very slow. I heard gold had a lot of movement and wanted to try it out. I currently use oanda and in the us.
What is the maximum leverage of oanda?
Newton once said: If I can see farther than others, it is because I am standing on the shoulders of giants.
Jul 17, 2024 at 09:07
delafuente993 posted:Fxzambia posted:
Gold trading is very challenging, compared to major pairs like GBPUSD, the potential return on gold is higher than major pairs, and the risk is also high, without patience in waiting and repeating reckless decisions, loss will become true
What broker can I use to trade gold?
There are many brokers in the market, but we have to use legitimate brokers, so you need to do thorough research on the broker. At the same time you need to know the broker's trading costs, such as spreads and fees. There is also the stability of the software, such as whether there will be big slippage when the market has big fluctuations, or if there is an inability to close a position. So, you can test it by using a demo account first. If you don't mind, I can use a demo account strategy for the broker I use.
What do you think?
Newton once said: If I can see farther than others, it is because I am standing on the shoulders of giants.
Jul 25, 2024 at 13:35
When trading gold, I start with a thorough analysis of both technical and fundamental factors. I use technical indicators like moving averages, RSI, and Fibonacci retracement levels to identify trends and potential entry and exit points. Fundamental analysis includes monitoring economic data through HFM calendar of similar tools, geopolitical events, and central bank policies, as these factors significantly influence gold prices. I also consider the US dollar's strength, as gold often has an inverse relationship with it.
forex_trader_3793183
Membro Desde Jul 29, 2024
30 posts
Aug 09, 2024 at 14:42
Gold have high liquidity, so make sure you are prepared for it.
Membro Desde Sep 12, 2024
1 posts
Sep 12, 2024 at 13:58
Traders' preferences may vary, depending on convenience, traders may like M5, but I use M15 more for gold. Mostly I read the chart pattern, but I put indicators like Bollinger band, MA 200, and RSI. Close 15-20 points.
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