Trading gold vs forex reddit Once I can trade larger sizes I may switch to MT4. On the other hand, gold, known for its stability, might yield more modest returns but with a lower degree of risk. Thanks. The Dollar is the only trade. Note: Backtest it on your own before utilizing it in live market! Hope this will help you in your trading journey!! Welcome to FXGears. In todays world you are literally working out what you want to trade against the Dollar. I dont trade it now as I only really trade ES but best hours are ny session for gold IMO. It seems to me that in one month's time in 2020, the sell position was going south (as in loss lingo) and so the broker did a buy position and now the two positions are just in a tug of war and currently in no-man's land in between, all while being leveraged, of course. Watch wicksdontlie live if you want to trade NY, trade with monty for live london season, trading with Paul for live Asian session. And trading will be much easier for me. 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 Welcome to FXGears. It is a real forex trading platform, They also process withdrawals in time ( in my experience max 2 days)however they have a serious slippage problem with pending orders where they will open your pending orders far from where you wanted but leave the stop loss in it's original price thereby increasing the risk exposure if the equity in your account. Hey folks! 🌟 Been bouncing between Forex and Gold trading and guess what? Gold's kinda become my jam. If it were MT4 I'd have all these great custom features programmed in. Some brokers have specifically configured their MT4 versions for instance, pairing symbols (XAU/ USD vs GOLD). But struggling to automate the pattern detection process. For clarity, you can also look at DXY chart and then trade it inversely on gold. I can find patterns manually very well. Your insights on real human traders make a lot of sense. willl be Unleash the power of forex gold trading and unlock your financial potential! 2. So I need to use Tradingview's ability to trade in "units" (0. 3/ I know some metals traders who follow mining more than other metals. 350K subscribers in the Forex community. Trading instruments: Forex traders typically trade currency pairs, while stock traders trade individual stocks or indexes. Personally FX is the way to go. You might want to learn and use RSI divergence in trading gold. 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. Dive into the world of forex gold trading and discover the golden opportunities that await you! 3. Sometimes They will also have slippage on Welcome to FXGears. 🥇 It's like choosing between a rollercoaster and a treasure hunt, and I'm all in for the gold rush vibes! So, what's your trade crush? Are you team Forex with all its wild pairs, or does Gold have you hooked? Jul 23, 2023 · Forex and gold trading are two popular investment options that attract traders from all over the world. All markets present opportunities. It’s not the instrument, it’s the contract size. Gold's kinda become my jam. 1/ I used to trade gold a lot with cfds before I moved to futures. Both markets offer unique opportunities and challenges, but understanding the differences between them is crucial for success. 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. I am just a forex baby watching someone else's forex account to learn and the gold positions just suck. com, a trading forum run by professional traders. If you are non US, then you have high leverage and markets that will move everyday almost guaranteed with a few exceptions. Both markets offer unique advantages and disadvantages, and understanding these can help traders make informed decisions about whether trading forex and gold is worth the risk. Don't do this. Divergence really help me a lot you just need to master price action confirmation to enter a position. 001 lots, or even more specific than that) So I got used to Tradingview. May 10, 2024 · When it comes to investing, trading gold, and trading forex are two popular choices among investors. It gets the job done and I think their interface for trading is pretty nice. Honestly, I don't think there is a gold standard. If I can do that, I can collect its trading stat from backtest. Forex trading’s leverage can lead to substantial profits but equally significant losses. That being said, MGC allows for trading gold at 1/10 the size. When it trends, it trends beautifully. Market size: The forex market is much larger than the stock market, with a daily trading volume of around $6 trillion, compared to the stock market's daily trading volume of around $200 billion. 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. Join the ranks of successful forex gold traders and turn your investments into shining profits! Welcome to FXGears. 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). . 4/ for me it used to be fomc and nfp but Welcome to FXGears. Sep 4, 2023 · Both Forex and Gold trading come with their own set of risks and potential returns. 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. First, I don't think Forex is the "gold standard" for trading. 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. Gold is actually very enjoyable to trade, it respects trendlines very much. Gold pumps when dollar dumps and vice versa. Gold can be really great to trade even for beginners. Gold and Oil are next for me. 🥇 It's like choosing between a rollercoaster and a treasure hunt, and I'm all in for the gold rush vibes! So, what's your trade crush? Are you team Forex with all its wild pairs, or does Gold have you hooked? Or maybe there's another gem Welcome to FXGears. 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. com's Reddit Forex Trading Community! Here you can converse about trading ideas… Welcome to FXGears. Welcome to FXGears. The problem is most people try to trade it all the time. Gold is my most successful asset. Aug 26, 2023 · In this article, we will explore the profitability of gold trading compared to currency trading in the forex market. Gold, often referred to as the “safe haven” asset, has been valued for centuries due to its rarity and intrinsic worth. Other than that, nothing major. Main thing is that it can move a lot and each tick is worth $10 which makes for big P/L movements even if you only trade one GC. amcw thdy rmajkjy ilgruchh xxmajl zzkhcz cymvw bxy kfo ynpeggz