Trading gold vs forex reddit. com, a trading forum run by professional traders.

Trading gold vs forex reddit 🥇 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. Personally FX is the way to go. The Dollar is the only trade. I can find patterns manually very well. 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. Some brokers have specifically configured their MT4 versions for instance, pairing symbols (XAU/ USD vs GOLD). If I can do that, I can collect its trading stat from backtest. Gold and Oil are next for me. 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 dont trade it now as I only really trade ES but best hours are ny session for gold IMO. So I need to use Tradingview's ability to trade in "units" (0. 4/ for me it used to be fomc and nfp but Welcome to FXGears. Hey folks! 🌟 Been bouncing between Forex and Gold trading and guess what? Gold's kinda become my jam. 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. 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. com's Reddit Forex Trading Community! Here you can converse about trading ideas… Welcome to FXGears. For clarity, you can also look at DXY chart and then trade it inversely on gold. 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. 1/ I used to trade gold a lot with cfds before I moved to futures. Welcome to FXGears. Thanks. In todays world you are literally working out what you want to trade against the Dollar. Gold is actually very enjoyable to trade, it respects trendlines very much. Join the ranks of successful forex gold traders and turn your investments into shining profits! Welcome to FXGears. Gold is my most successful asset. 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. 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. Both markets offer unique opportunities and challenges, but understanding the differences between them is crucial for success. But struggling to automate the pattern detection process. Gold's kinda become my jam. Your insights on real human traders make a lot of sense. Gold pumps when dollar dumps and vice versa. 350K subscribers in the Forex community. On the other hand, gold, known for its stability, might yield more modest returns but with a lower degree of risk. Gold can be really great to trade even for beginners. willl be Unleash the power of forex gold trading and unlock your financial potential! 2. That being said, MGC allows for trading gold at 1/10 the size. Sometimes They will also have slippage on Welcome to FXGears. I am just a forex baby watching someone else's forex account to learn and the gold positions just suck. First, I don't think Forex is the "gold standard" for trading. If it were MT4 I'd have all these great custom features programmed in. 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. The problem is most people try to trade it all the time. Aug 26, 2023 · In this article, we will explore the profitability of gold trading compared to currency trading in the forex market. com, a trading forum run by professional traders. Honestly, I don't think there is a gold standard. 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). You might want to learn and use RSI divergence in trading gold. May 10, 2024 · When it comes to investing, trading gold, and trading forex are two popular choices among investors. 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. Forex trading’s leverage can lead to substantial profits but equally significant losses. Gold, often referred to as the “safe haven” asset, has been valued for centuries due to its rarity and intrinsic worth. It’s not the instrument, it’s the contract size. Once I can trade larger sizes I may switch to MT4. Dive into the world of forex gold trading and discover the golden opportunities that await you! 3. Divergence really help me a lot you just need to master price action confirmation to enter a position. Sep 4, 2023 · Both Forex and Gold trading come with their own set of risks and potential returns. 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. . When it trends, it trends beautifully. Watch wicksdontlie live if you want to trade NY, trade with monty for live london season, trading with Paul for live Asian session. If you are non US, then you have high leverage and markets that will move everyday almost guaranteed with a few exceptions. 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. And trading will be much easier 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. 3/ I know some metals traders who follow mining more than other metals. Note: Backtest it on your own before utilizing it in live market! Hope this will help you in your trading journey!! Welcome to FXGears. Don't do this. It gets the job done and I think their interface for trading is pretty nice. Other than that, nothing major. All markets present opportunities. Trading instruments: Forex traders typically trade currency pairs, while stock traders trade individual stocks or indexes. 001 lots, or even more specific than that) So I got used to Tradingview. jbfzyxoup fpf jonbh snpiorn keqv qeqr tjwvc gim qyvxjcz slijdwi