Gold Advice Top 5 Gold Strategies

The 5 strategies which form the best trading advice and that are key to your success in xauusd and that can turn your trading around within no time, and if you want to start making good profits in gold trading you as a trader can start by following this gold trading advice.

If as a xauusd gold trader you have spent a long time studying trade, how to trade and other strategies & methods, then you might already know some of these tips, these trading advice tips if you stick to them they can improve your trading but most traders will lack the discipline to follow this gold advice.

This gold trading advice comprises of the trading rules that you must master before opening your account & placing any trade. These rules below when combined with a good gold system will yield good results.

Gold Trade Money Management Rules - One of the best trading advice is to use good gold money management rules and method. Gold money management is about controlling your risk, so that after several xauusd trades you are making profits because you have applied the correct money trading management rules. As a trader the first gold trading money management rule is to have enough gold capital to trade. Anything below $1,000 will be hard to apply good gold trading equity management. The more capital you've combined with good gold money management rules the better your results will be & the more profits you'll make.

Gold Equity Management Lesson

Good Risk Reward Ratio - a good risk reward in gold trading is about 3:1 or 2:1, if your risk reward isn't higher than this then the trading money management guidelines of statistics will put you at low odds of ever making money in gold trading, to stack the odds more in your favor for every dollar you risk in gold trading make sure you have the potential of making three3 times this amount so that your net overall is a profit & not a loss.

Risk Reward Ratio Gold Trading

Capital - Begin with enough gold trading capital, if you're going to be gold mini lots make sure you have at least $5,000 in your xauusd account to begin with, but do not begin with 5K dollars and trade 1 standard contract the math won't add to your favor and to give the best trading advice like this you'll not make any money. If you are going to trade standard lots/contracts then open a xauusd account with $50,000 dollars and trade only 1 or 2 lots at max.

Discipline - Have the required discipline to wait for your trading system to generate the trade signals, do not open a trade position because you see that the chart is going up or down, you must wait for a signal from your system. Even if it is tough to wait around for a good set upto day trade or long term trade, but not having the discipline required to wait for a signal will eventually wipe out your account, so learn to sit patiently & wait for signals from your system

Gold Planning - You must plan for your trades in advance, this the time when the most objective analysis in gold trading is done. What most Gold traders get wrong is the fact that even though they planned the Gold trade so they are ready to take the Gold trade when the setup matches, but when trading in market these trader don't follow their trading rules. This one gold advice tip alone can change your trading.

As a gold trader get a good gold trading plan that will plan out everything of how you will trade gold.

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Gold Advice Top 5 Gold Strategies