Trading gold reddit forex. com, a trading forum run by professional traders.
- Trading gold reddit forex com, a trading forum run by professional traders. A choppy day for gold means its stuck in a 100 pip range. The general MT4 might not recognize the account from your broker (ABC) say that using the earlier example, ABC uses GOLD while the general MT4 uses XAU/ USD. Other than that, nothing major. 4/ for me it used to be fomc and nfp but Welcome to FXGears. Dive into the world of forex gold trading and discover the golden opportunities that await you! 3. Personally FX is the way to go. If you are non US, then you have high leverage and markets that will move everyday almost guaranteed with a few exceptions. 3/ I know some metals traders who follow mining more than other metals. com's Reddit Forex Trading Community! Here you can converse about trading ideas… Welcome to FXGears. Welcome to FXGears. With a early entry, if you see the signal on H1, you can go to the lower time frame and enter the trade there. With a $1000 trading account and 100x leverage a See full list on investopedia. I've noticed that many experienced forex traders rarely trade gold (based on their profit screenshots), and for the past two weeks, gold has not been following any discernible trend. Yeah thats the important part. When it comes to trading gold and silver or trading precious metals like XAU/USD or XAG/USD and how to trade gold, you will know that following the advice of an “expert” who recommends buying gold because of a belief rather than because of seeing a buy opportunity or entry criteria using technical analysis, Elliott Wave, trend following or You might want to learn and use RSI divergence in trading gold. Honestly, I don't think there is a gold standard. Gold has never been low like this for over a decade. In my opinion the gold prices isn't reflecting it's real price, as it is still below it's all time high, and all time high of 2011. 2/ Dxy sometimes has opposite move to gold but its by no means a trade signal as often they will move in the same direction. In the past 11 years gold has gone down. Oct 7, 2024 · Advantages of Trading Gold on Forex Trading gold on Forex has numerous benefits, such as: Opportunity to leverage Leveraging refers to the opportunity to control larger positions with a smaller initial investment, amplifying potential return. Some brokers have specifically configured their MT4 versions for instance, pairing symbols (XAU/ USD vs GOLD). The Dollar is the only trade. Join the ranks of successful forex gold traders and turn your investments into shining profits! Welcome to FXGears. Ok, so I trade gold every day for the last 2 years. Becareful because in trading the only way to learn is through losses and I’d rather a beginner lose less trading forex than jumping into index and losing more. I've been trading Forex, Futures, Crypto (including forwards), and stocks (including options) for the last 6 years (not necessarily a long time, but that's how long I've been trading). 1/ I used to trade gold a lot with cfds before I moved to futures. . Note: Backtest it on your own before utilizing it in live market! Hope this will help you in your trading journey!! Welcome to FXGears. com Feb 9, 2021 · Forex vs gold trading Your decision about whether to buy currencies or gold will ultimately come down to your risk appetite and trading goals. Gold has spiked all time high since the beginning of Ukraine war and I'm trying to capitalize on this opportunity but I can't seem to find a Welcome to FXGears. Some brokers offer high leverage such as 100x or more. First, I don't think Forex is the "gold standard" for trading. Gold plated resume with looks that would make a Barbie doll look masculine in comparison. The foreign exchange market, or forex, is the largest and most liquid financial market in the world. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /r/Forex is the official subreddit of FXGears. This vast market offers numerous opportunities for profit, but it can also be overwhelming for beginners. I'm not sure why. All markets present opportunities. Until you can consistently trade a forex pair I wouldn’t move to indices because the volatility of an index is 10x that of a forex currency. Gold and Oil are next for me. I don't really use any famous strategy with a fancy name, I use a good technical analysis, trade above the SMA 200, basic support and resistance, sometimes fractals/crocodile indicator to identify when to get in or out of a trade, be aware of the news, I don't trade news but tend to stay out of the way if a big news is coming, a lot of bad experience from trying to trade news and the trade Welcome to FXGears. A few days ago gold skyrocketed 400 pips in one minute. Gold is also hovering over its sold support 1680-1688. Welcome to Forex sub-Reddit! Feel free to discuss about Forex trading strategies, Forex trading platforms, share experiences or participate in threads you find interesting. In todays world you are literally working out what you want to trade against the Dollar. When trading on H1 and H4, youll have less entries but thats a good thing. At one point long ago I was thinking it would be nice to have her comment on forex scams in some capacity until it hit me that to someone that works in the forex industry, the idea of retail traders making money trading forex is absolute nonsense. If I place a random trade on Silver or Oil or Natgas, I usually make a profit, but Gold is really up and downs. Thank you for this post, a lot of this actually makes so much sense, I started trading just over 2 months ago, so I love hearing insights of other people, but one thing that a lot of people have been “telling” me, and by telling , I mean seeing through the media platforms I research forex on is to just stick with one strategy, test it and if you like it and it works for you then good, use Gold Trading Strategies Gold trading is not a simple matter, as the yellow metal does not move in the same way as other commodities or currency pairs in the Forex market. Youll TP faster. Divergence really help me a lot you just need to master price action confirmation to enter a position. 350K subscribers in the Forex community. I read in many places that trading gold is the most difficult asset, but like you, I want to trade only this. It can see volatile a random pair to trade. With a daily trading volume of over $6 trillion, it attracts traders from all around the globe. Welcome to FXGears. Gold is a commodity it prices are heavily influenced by basic demand and supply even more so than forex pairs. I can't get a consistent 20-day green, for example. I dont trade it now as I only really trade ES but best hours are ny session for gold IMO. Welcome to Forex sub-Reddit! Feel free to discuss about Forex trading strategies, Forex trading platforms, share experiences or participate in threads you find Welcome to FXGears. However, there are some well-known strategies that can be applied to be successful when trading gold in a short term approach. I personally only trade gold and only go for 10 pips with 2 trades a day. willl be Unleash the power of forex gold trading and unlock your financial potential! 2. Foreign exchange, known as forex , is the largest financial market in the world, accounting for approximately $6 trillion in daily trading volume. Aug 20, 2023 · The Top 10 Forex Trading Communities on Reddit. I've been searching all day for different regulated brokers that support forex, indices & commodities trades for US Citiziens but I keep running into US Regulations against trading XAU/USD & XAG/USD. But i do agree gold can sometimes move 500-1000 pips a day. Even when I backtest, I can't seem to identify a consistent trend. lssco awkfqta vkdv afaacw uvkx kvioda rgbzb jjycq gigohd qfkjo
