Can anybody teach me how to trade gold

Can i trade for gold with a fund of 500usd? How much should i trade?

Yes you can

Only risk 1% per trade

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I agree, keep your risk percentage small in gold because gold is remarkably volatile.

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Thanks much

Got it thanks much

Gold has always been valued, and its prices have fluctuated slightly. For investment, this is a very reliable option, but not the most profitable.

Keep in mind that the Gold market closes for about half an hour every day and the spread widens significantly then. Same thing happens when it closes on Friday.

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First thing is learn about Gold.

Obviously it’s a commodity and therefore subject to the law of supply and demand - figure when is demand high - e.g. the Chinese NY - or the demand in India.

Then figure the overall picture with the comms - the CRB index will give a clue.

Then it happens that Gold is a currency, an alternative currency to be exact, and often to USD - so learn that.

And finally - risk - learn that first - risk sentiment they call it, how is the market feeling right now.

My tutor always said use a current example - so yesterday was NFP - the numbers were good so risk went out the window.

USD 2000 (small caps) jumped up and Gold went down - could you have foreseen this?

Look around your own hometown, was not activity almost like pre-virus times in recent weeks - increased activity means guys working.

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Thank you so much Peterma :innocent:

Oh I see, thank you mlawson71. :blush:

thank you so much Bipin1800

Gold trading is quite simple, in principle. Stiot just realize that this is a long-term and stable investment with a small profit.

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Thank you dikeros…

Daily inside bars work well on gold - they do for me anyway

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Try study how Gold moves on a demo account. Study the spreads as well, it can suck you up on bad day

Gold market price is very fluctuating, so depending on the weather conditions of the market you should plan to trade gold. Whenever you will trade any pair, you must keep in mind 2 things – it’s lot size and current market price.

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That’s great advice and it applies to any instrument out there, not jut Gold.

You can trade gold in the forex by opening a live account with a reputed broker who offers commodities trading. Gold is considered as a safe haven asset as it is always in demand, has higher volatility and higher liquidity in the market. For trading in gold you should learn more about gold and factors affecting its prices in international market.