TIPS: MAXIMIZING PROFITS OF Gold SYSTEMS
1. Define Simple Gold Trading Rules and Follow the Trend
The simpler the gold trading system is the better. If the gold trading system is too complicated, it will be very difficult to stick to the gold trading rules. Complicated gold trading systems are also very confusing. A simple gold trading system makes it easy to follow the trading rules.
2. Eliminate Risk Quickly and Let Profits Run
Minimizing risk is far more important than making money. Our first objective in gold trading is to make the trade less risky. We do this by entering only high probability trade setups, setting stop losses, cutting losses quick and never average down, and letting the profitable trades run for a while, just long enough but not too long so as increase the profits. Profitable gold trading trades are only kept open as long as the gold trading system shows the gold trading trend is in place, these transactions should be closed immediately once your exit signal criteria is generated by the gold trading system.
3. Choose the Right Gold instruments
Once you have your gold trading system, you will want to start testing it on a demo gold trading account. A gold trading system will give different results for each gold trading instrument.
To maximize the profitability of your gold trading system find the most active gold trading market hours for a chosen gold trading instrument and trade during that market session only.
4. Use Gold Trading Money Management Rules
Always risk less than 2% per gold trading trade transaction. With compounding, you will be surprised to see how quickly your Gold trading account grows once you start to trade with a profitable gold trading system.
5. Keep a Gold Trading Journal
Keeping a log of all your gold trading trades will help you to become a better and better and will help you follow the trading rules of your gold trading system. A gold trading journal will also keep track of your profitable gold trading trades and losses and you can analyze why a trade setup was profitable and why it was not.
6. Set take Profit Targets
Establish a daily, weekly or monthly profit targets when trading the gold trading market. Once you hit this target. This will stop you from over-trading and will also stop you giving back your profits the gold trading market. Keep your reward to risk ratio high, a 3:1 reward to risk ratio is best. This means opening gold trading trade transactions only when you have the probability of making three times what you are risking.
Example of signals generated by ourGold trading system
Example 1: Buy Gold Trading Signal and Sell Gold Trading Signal Generated By Gold Trading System
Buy signal is generated by the indicator based gold trading system, then an exit signal is generated before another reverse sell gold trading signal is generated on this gold trading chart
Example 2: Two buy gold trading signals generated by Gold Trading System
Two buy gold trading signals are generated during the upward gold trading trending market
Example 3: Exit Signal Generated by Gold Trading System
Examples of Gold Trade Signals Generated by a Gold Trading System
Learn Gold Education
The first tip is to learn about the Gold Trading Market (Learn Gold Lessons), those who don't learn the required gold trading knowledge from the various gold trading tutorials online will not improve their gold trading results no matter how many tips they have read. By not learning gold trading, these gold traders will keep making the obvious mistakes made by gold trading beginners without even realizing what they are doing, Gold is a wide topic and in order to make profits a gold trader will have to learn gold trading first.
Get a Gold Trading System
A Gold trading system is a must for every gold trader, a gold trading system is used to determine what gold trading decision to take. A gold trading system gives a gold trader an edge over others who don have a gold trading plan. A good gold trading plan is one that is back-tested and proven to produce profitable gold trading trades. After coming up with your gold trading system you should back-test it on a Demo Gold Trading Account.
Learn Gold Trading Money Management
Learn about The Various Gold Trading Money Management Lessons, don't attempt to trade the online gold trading market if you do not have gold trading money management rules. The 2 gold trading management lesson that you must learn are:
Learn about Gold Trading Leverage and Margin
If you don't know what is gold trading leverage and how it works and how it can affect your gold trading margin, then you will not make any money in the gold trading market and you will lose your money in the gold trading market.
Have a Written Gold Trading Plan
A gold trading plan will take into account all the above gold trading tips and summarize them within one document that you can use to trade the online gold trading market.
The first goal should be taking your time to really determine what your gold trading goals are and how much money you wish to make. Once this is determined then the following three suggestions will help you on your way to start Gold Trading. It is essential to keep all the three goals in mind when executing all of your gold trading trade transactions but at the same time this is not a black and white guide to gold trading success.
The first thing is to remember that you really need to work with short term gold trading trades until you become profitable and know how to properly monitor these gold trading trade transactions. You should trade gold trading short term because this way you can monitor your gold trading positions and quickly close any gold trading position whose trading signal setup reverses. In order to truly benefit from the gold trading system you have to be willing to take up the effort to watch the gold trading market to see exactly how long you can keep your money invested in the online gold trading market. Making short-term gold trading investments will help you to monitor your gold trading trades and control all the risks, do not leave gold trading orders open when you are away from your computer or when you are going to sleep, close all gold trading trade transactions and only open gold trading orders when you can monitor them.
Although it is very important to increase the amount of gold trading trades that you are investing each time that you trade - some gold trading guidelines should to be followed. The general rule of gold trading tends to be never to trade more than two percent of your total gold trading account equity. This of course makes sense when you have a lot of money in your gold trading account but what if you only have a couple of hundreds. Two percent of $10,000 equals out to be $200. Even though it is safer to follow this rule it really does not make a lot of economic sense with smaller gold trading accounts. If you are investing on Gold this is when gold trading leverage kicks in to effect and makes all of the difference. In General the more gold trading capital you have to invest the better in terms of gold trading money management.
The final suggestion is taking a bit of time to make sure that you get all of your gold trading details correct before opening any one trade transaction, this will be the best method. Keep it simple makes just as much sense in Gold trading market than anywhere else. Although this may require more time and effort to build up your gold trading profits it will save you money in the long term.
Trying to keep your thinking as clear as possible will make your gold trading journey easier but knowing when to break from the norm is also important. Moving towards the right path will make success that much more easier to obtain and by learning all of the steps and logic you will be able to continue making profits. Gold is not hard to learn but a lot of traders lose money quickly because of not taking the proper steps in preparation and learning.