What is the best way to learn to trade gold?

can any one please tell me aftre having done course on babypips, what is the best way to learn to trade gold

Hello unknown, :slight_smile: first, you have to finish education section :slight_smile: before you will start trading gold, get some basics and experience on other pairs. Regards Greg

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Agreed!
First try to get a overall understanding of how the market works and then go for specific pairs.

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Not gonna say the best way, but check this steps out:

  1. Understand the terms gold investment and trading.
  2. Recognize what influences gold prices.
  3. Determine your strategy for trading or investing in gold.
  4. Open a gold trading account.
  5. Discover your gold opportunity.
  6. Keep an eye on your trades.

Hmmm. :thinking: I don’t particularly trade gold. But for my process in learning to trade in general, I would suggest checking out free videos on YT that could talk about trading gold and how to develop trading strategies for them. :blush: Here’s a short but interesting one! :smiley:

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I think I’ve also seen some gold traders mention using the Moving Average Crossover strategy? :blush: Might be something to look into? :smiley:

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Hello again Ria!
You are really helpful and I think you are the one that I like the most here!
Let me add some points to your good suggestions:

  1. Learn the basics 2) Learn a little about how news or generally fundamental analysis can affect the Gold 3) Try to scalp. I do not do that but I heard a lot from experienced people here that they scalp it! 4) Do not jump into the market 5) e careful, you have to own a high balance for the Gold market
    Best Luck/

1 yes
2 no
3 no
4 no
5 no

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Hello Profesor!
Why not? Should he jump into the market?
For trading Gold as a scalper, doesn’t he need a high balance?!!
He shouldn’t know the basics of fundamental analysis?!

Before trading, you should have a strategy and some kind of plan “what to do next” after BP course you get basic knowledge, so scalping on gold is terrible idea. Clearly you don’t know what is scalping, lesson from BP course about scalping Forex Scalping - BabyPips.com

I did not tell him to scalp after finishing courses!
Those were just some steps and advice for him! NO ORDER!
I did not guide him to trade and scalp after finishing the course.
I read that and well, there was nothing new to me! Trust me, I know what is scalping. I do not scalp but I know a lot of people whom they do that on Gold!
at the end: What do you think about using scalping as a trading strategy?
YOU LEFT A COMMENT THERE ABOUT HAVING A HIGH BALANCE and well, I mentioned that to him to keep in mind if he wants to scalp, what does he/she need!

if number 3 is "no " all others are “no” too

Well, Number 3 is a yes as a suggestion (at the right time with right risk management and good knowledge) so the others are yes too.
But I did not make them as the stages (first do 1, then do 2, after that do 3, …), they are just some pieces of advice!
And why 4 is a no? he should jump into the market after learning the basics?!

Yes, you are right, my mistake, I meant in point 4 @Zahida95 should jump into the market with knowledge, plan and strategies.

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So it was a misunderstanding I guess!
Thank you for correcting me profesor!
Best Luck/

i dont trade it
i buy it as investment and put it away for when i need it
i think it is the best thing to do with gold

RSI will be your best friend when trading Gold.

Best way to learn to trade gold, no one on this forum will have any clue!
Because I guarantee the world’s best gold trader won’t be hanging out on this forum.

You say “because,” but why does it follow, from that, that “no one on this forum will have any clue”?! :neutral_face:

@Zahida95 is asking for the best way.

There are many ways.
But the best, probably only one person in the world knows the absolute best.