moonchild
VIP Contributor
Trading gold in the forex market is very common among traders, Gold as an asset is known to be very unstable and volatile, if you do not know how to trade volatile pairs I will highly discourage from trading this beast, it can wipe your account in seconds with no remorse, so how can you trade Gold in forex? that is what you are going to find out in this guide.
You have to have a marginally big account, you should not trade gold if your account is below 100$, one move in opposite direction can make take your drawdown to -50% yo do not want that to happen to you.
Always scalp, this is my default mindset on Gold, I do not hold positions just because it reverse and take away all the profits I have been stacking up, so because of that I go in and out quickly, but this totally for me, you might appreciate a different style of trading and you should definitely go for it.
Short it, this is my little secret, I always sell it, most of the times that I try to buy it, I end up on the losing side, but when I scalp on sell, I make profits.
You have to have a marginally big account, you should not trade gold if your account is below 100$, one move in opposite direction can make take your drawdown to -50% yo do not want that to happen to you.
Always scalp, this is my default mindset on Gold, I do not hold positions just because it reverse and take away all the profits I have been stacking up, so because of that I go in and out quickly, but this totally for me, you might appreciate a different style of trading and you should definitely go for it.
Short it, this is my little secret, I always sell it, most of the times that I try to buy it, I end up on the losing side, but when I scalp on sell, I make profits.