I would stay clear. Focus on the reliable commodities and currencies
Please clarify digital gold? Do you mean Bitcoin, gold derivatives, or unallocated gold including ETFs?
If it’s Bitcoin you are actually referring to - though marketed as digital gold - it is nothing of the sort
I want to ask a question. Is Gold Perfect For Beginner Traders?
There is no perfect market for beginners, as you probably know @LiamMillen. Each market has it’s unique personality gold included.
I am no fan of ‘day trading’ anyway, but I think gold is far too erratic on the smaller time-frames, you would need quite wide stops to avoid whipsaw.
Occasionally you’d see a move that is picture perfect intra day, but IMO these are not the norm.
Step up to the daily timeframe and gold can have some seriously great trades - but not so often.
Certainly not as many as the likes of Copper, or the Agriculturals.
Despite being a FX forum, I’d actually suggest that indexes are a better place to start trading
The intraday volatility is much less with indexes, which means you can remain calm easier than in FX or gold - and we all know it’s emotions that are the leading cause of poor trading results.
Gold is a great market don’t get me wrong, but there is an opportunity cost in not having that many great moves to trade.
Gold is fun to trade but can move dramatically like crypto so only when your fully competent would I say try and trade it
You mean BTC? I’d say it’s not a terrible idea to be holding some crypto.
What is digital gold… I guess technically trading it online makes it digital since you hold no physical gold??
Trading gold and trading with currency pairs are same? And is it good to invest in gold?