Market Trading Strategies

For beginner traders wanting to use basic strategies to trade the market there are a few other basics which a xauusd trader should know that will help to make their basic trade strategies they are using to become more successful.

After a trader has learned about analysis of indicators and the analysis of charts, a gold trader will need to create basic strategies. The basic trade strategies that a beginner trader uses can be based on the following most commonly used basic strategies in Gold.

A trader can learn about basics of how to come up with a strategy by learning from the above examples of basic strategies.

Once a trader has come up with their strategy, they should also include the following so as to make their basic strategies more successful.

1. Trade Money Management Guide-lines

2. Trade Psychology

Trade Money Management Guidelines

Gold trading money management guidelines should be part of your basic strategies - these rules will help you as a trader to manage risk. This means that you will use two rules of money management - these are risk reward ratio & drawdown reducing method when placing your trades to determine lot size that you will put in the market. The most popular equity management rule use in xauusd and the one that you should also add to your trading is the rule which says that a xauusd trader should never risk more than 2 % of their account equity on one single trade transaction.

To learn about these two money management guidelines traders should read the trading money management course that is on the learn lessons section of this website under the trading key concepts courses.

Trading Psychology Mindset

In order for a gold trader to become successful when trading the market a xauusd trader has to learn about psychology. The psychology or mindset that is needed to become successful in gold trading is one that avoids the emotions of fear & greed while trading and is a mindset of total discipline that the trader will follow all their rules & their strategy and only trade with signals which are generated by their strategy. With discipline one will not trade unless their system gives a signal. One will have the mindset of only following their system 100 percentage% all the time without second guessing the trade system. A disciplined trader also will not place trades in the market just because the market has started to move upwards or downwards, instead one will wait for a trade signal to be generated by their basic strategies.

In order to learn more about psychology and how to manage emotions while trading the market a trader can read the psychology lessons from the learn lessons section of this website under the key concepts courses.

Study More Courses and Topics:

• Regulated Gold Broker
• Average True Range (ATR) Indicator Technical Analysis
• What are Types of Orders in Gold?
• How Do You Trade Gold Candlesticks in Gold?
• Gold Strategies using Gold Price Action Patterns with Moving Averages XAU USD Price Action Patterns Trading Indicator
• Trading Gold Charts Using Divergence Trading Setup