Trading Gold
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Thread: Trading Gold

  1. #1
    Join Date
    Mar 2006
    Posts
    5

    Default Trading Gold

    I know alot of traders trade gold depending on what stage another market, such as forex, is in. How exactly does trading gold work? When are the times you want to be long or short gold in relation to where the forex market is?

    What is the basic benefit of trading gold?

    Thanks in advance for your input.

  2. #2
    Join Date
    Mar 2006
    Posts
    8
    Gold and the metal commodities have been on a tear since last year. A great way to trade with gold and the other commodities are by buying/selling "commodity currencies" such as USDCAD, AUDUSD, and NZDUSD

  3. #3
    Join Date
    Apr 2006
    Posts
    48
    I don't think there is any specific benefit of trading gold. It's like any other instrument.

  4. #4
    Join Date
    May 2006
    Posts
    126
    As time goes along, many new terms are being created and 'gold' , 'metal' are examples of these but actually, they only mean the same things as m-o-n-e-y

  5. #5
    Join Date
    Apr 2006
    Posts
    48
    Agree, geline.

  6. #6
    Join Date
    May 2006
    Posts
    126
    Ha ha ha

    Thanks for that, Michael , we're really friends

  7. #7
    Join Date
    Apr 2006
    Posts
    48
    Lol, of course. But anyway, I wouldn't recommend touching gold, if you are new. You have to have plenty of capital. The lots are expensive and the spread is very large.

  8. #8
    Join Date
    Dec 2006
    Posts
    3
    People trade gold for the same reason they trade any other marketÖto make money Itís still considered the security against paper currencies and against weak economies.

  9. #9
    Join Date
    May 2012
    Posts
    143
    Nothing goes up for ever.

    On entry, there has to be a valid reason for buying at this time at this price. It's essential to know the earliest price at which this reason 'dies' - price will only be rising because more people are buying, and if you don't see a reason to buy more, probably nobody else does either. That's the level for you to get out.

    It is hard to identify is the target price at which you would close the position and bank your profits. Ideally, this would be identified by your knowledge of how far price normally travels after the entry signal of the type you have used, whilst respecting other criteria to some degree, such as overbought indicators, resistance levels etc. My advice is make sure price has a high probability of making your target and always get out as soon as it gets there. If you must hold on for greater gains, though I don't recommend it, use a trailing stop.

  10. #10
    Join Date
    Dec 2010
    Posts
    44
    How do one trade gold ? I mainly rely on the fundamentals.

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