Trading gold vs forex reddit 3/ I know some metals traders who follow mining more than other metals. I dont trade it now as I only really trade ES but best hours are ny session for gold IMO. Sep 4, 2023 · Both Forex and Gold trading come with their own set of risks and potential returns. Trading bitcoin is based in nothing. Both markets offer unique opportunities and challenges, but understanding the differences between them is crucial for success. Gold's kinda become my jam. 🥇 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. Thanks. However, there are some well-known strategies that can be applied to be successful when trading gold in a short term approach. Gold is my most successful asset. I can find patterns manually very well. Can i have your opinion please Gold Trading Strategies. Even when I backtest, I can't seem to identify a consistent trend. . Forex trading’s leverage can lead to substantial profits but equally significant losses. When it trends, it trends beautifully. Trading forex depends on factors such as interest rates, government debts and forecast expenditure and a multitude of other factors. Gold is actually very enjoyable to trade, it respects trendlines very much. You will lose either was eventually if you're dependent on "technic analysis. 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. 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. 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. And trading will be much easier for me. Don't do this. But struggling to automate the pattern detection process. Note: Backtest it on your own before utilizing it in live market! Hope this will help you in your trading journey!! Welcome to FXGears. If I can do that, I can collect its trading stat from backtest. Welcome to FXGears. Gold pumps when dollar dumps and vice versa. May 10, 2024 · When it comes to investing, trading gold, and trading forex are two popular choices among investors. 4/ for me it used to be fomc and nfp but Welcome to FXGears. Watch wicksdontlie live if you want to trade NY, trade with monty for live london season, trading with Paul for live Asian session. On the other hand, gold, known for its stability, might yield more modest returns but with a lower degree of risk. 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. Divergence really help me a lot you just need to master price action confirmation to enter a position. 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. com, a trading forum run by professional traders. 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. 1/ I used to trade gold a lot with cfds before I moved to futures. 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. Gold, often referred to as the “safe haven” asset, has been valued for centuries due to its rarity and intrinsic worth. 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. 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. For clarity, you can also look at DXY chart and then trade it inversely on gold. You might want to learn and use RSI divergence in trading gold. Your insights on real human traders make a lot of sense. qskll cfzd qobbw sppem fftf xgwzi hraycw xkiie ikktfi vbqwc