Newbie in Gold | Metals Mine

Options

Permalinks
Print Thread

Similar Threads

Spot gold EA from OG gold system 8 replies

Gold Miner - Gold future support and resistance level trade 7 replies

I'm a newbie - I'm taking 10% per day 21 replies

Attachments: Newbie in Gold
Exit Attachments

Newbie in Gold

  • #1
  • First Post: Jan 17, 2010 2:54am Jan 17, 2010 2:54am
I am a newbie in gold trading please help me .......................

i got loss in a month $650
  • #2
  • Jan 17, 2010 5:14pm Jan 17, 2010 5:14pm
well....you have to watch 1070 area and then 1300...
  • #3
  • Jan 17, 2010 7:26pm Jan 17, 2010 7:26pm
Gold is a nasty pair:
* Its very volatile. $1.00 in movement is 100 pips and its very common you'd see it moving $5 up/down a day.
* Its got a huge spread; $0.50 in spread is 50 pips!
Add these two, it can either make you a king or a pauper in a day.

I used to trade GOLD in my early forex days. Then after getting burned badly, I decided to stay away from this.
  • #4
  • Jan 17, 2010 8:35pm Jan 17, 2010 8:35pm
Quoting aboonafia
I am a newbie in gold trading please help me .......................

i got loss in a month $650


If your broker allows u to trade micro accnt try that first!!!
until you get to understand the way this pair moves.... for me XAU/USD is the most solid and Trend able pair, but you have to give it time dont over trade it .... let it give u clear signal and trust me when XAU goes in to trend it will follow it for some time!!!

right now i will probably wait for a break 1146. to go long or 1120. to short it !!!

good luck!!!
  • #5
  • Jan 17, 2010 9:06pm Jan 17, 2010 9:06pm
Here is a Chart to get you thinking a bit !!!
Attached Image
  • #6
  • Jan 17, 2010 9:24pm Jan 17, 2010 9:24pm
here is my chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 14 KB


i played 0.1lot, on a 1:100 leverage margin used is $113.17. btw, i'm on demo with gold, i think till end of the year.
  • #7
  • Jan 17, 2010 10:16pm Jan 17, 2010 10:16pm
Dear newbie

Like the other guys said on this forum gold is a very volatile pair and due to its high spread of 50 pips and daily movements of 15 to 20 dollars it can wipe out one's account if you dont have a tight stop loss. I am attaching a chart which is daily gold with macd and cci which shows the trend as down. The safest way to trade is not to try to pick the top or bottom but sell the low of the day or buy the top of the day with a stop loss or use the parameters of cci and macd on daily, then 4 hour, 1 hr and so on and wait for a 4 hour candle to close and look at the new 4 hour candle for sometime to find out the trend.

Hope this helps u

Balaji

Quoting aboonafia
I am a newbie in gold trading please help me .......................

i got loss in a month $650
Attached Image (click to enlarge)
Click to Enlarge Name: gold-daily.gif Size: 43 KB
  • #8
  • Jan 18, 2010 1:09am Jan 18, 2010 1:09am
What about todays market ?????????????????
  • #9
  • Jan 24, 2010 12:57pm Jan 24, 2010 12:57pm
Quoting balajis
Dear newbie

Like the other guys said on this forum gold is a very volatile pair and due to its high spread of 50 pips and daily movements of 15 to 20 dollars it can wipe out one's account if you dont have a tight stop loss. I am attaching a chart which is daily gold with macd and cci which shows the trend as down. The safest way to trade is not to try to pick the top or bottom but sell the low of the day or buy the top of the day with a stop loss or use the parameters of cci and macd on daily, then 4 hour, 1 hr and so on and wait for a 4 hour...
Thnx balaji
  • #10
  • Last Post: Oct 30, 2019 8:50am Oct 30, 2019 8:50am
[引自博纳菲亚；3372520]我是黄金交易的新手，请帮助我.我一个月内损失了650美元[/引述]
I can help you, I am Ava from China, we can communicate with each other.
0 traders viewing now