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

Trading gold vs forex reddit Gold and Oil are next for me. Feel free to discuss about Forex trading strategies, Forex trading platforms, share experiences or participate in threads you find interesting. For clarity, you can also look at DXY chart and then trade it inversely on gold. 0 pips, a basic commission structure of $2 per standard lot for Forex and commodities, and excellent customer service. I can't get a consistent 20-day green, for example. It is open for 24/5 and you can trade anytime you want. futures is just like stocks with no PDT, better tax consequences and its levered. If I can do that, I can collect its trading stat from backtest. Watch wicksdontlie live if you want to trade NY, trade with monty for live london season, trading with Paul for live Asian session. 5 days a week it gives you clear volume info. Both markets offer unique opportunities and challenges, but understanding the differences between them is crucial for success. Though tbh gold is my least favorite commodity to trade because it's in a unique position with so many weirdos investing in it, or obsessed with it, all the goldbugs and conspiracy theory people, and naive irrational boomers. The problem is most people try to trade it all the time. You will lose either was eventually if you're dependent on "technic analysis. But before i place my real money into a trading account I want to know everyone's thoughts on which market to trade in? Stocks? Forex? Crypto? Ive been trying some trading methods, scalping doesn't seem to fit right with me. Gold can be really great to trade even for beginners. Trading 10-20 Micros instead feels better, I trade the same strategy with the same risk, but I feel so much more relaxed not being exposed to 50% of my trades risk just by placing the first entry. 3/ I know some metals traders who follow mining more than other metals. I used to scoff when I'd hear Forex gurus talking on podcasts like Trading Nut about only trading one pair or only trading gold or only trading the NAS100 in order to get a "feel for how she moves" etc. It can move in one direction for weeks without pullback. Thanks. Gold's kinda become my jam. 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). Reply reply More replies Welcome to FXGears. Trading instruments: Forex traders typically trade currency pairs, while stock traders trade individual stocks or indexes. com's Reddit Forex Trading Community! Here you can converse about trading ideas… Welcome to FXGears. I would prefer trading with forex since with low price movements you can make handsome rewards. Hey folks! 🌟 Been bouncing between Forex and Gold trading and guess what? Gold's kinda become my jam. Gold has spiked all time high since the beginning of Ukraine war and I'm trying to capitalize on this opportunity but I can't seem to find a Welcome to FXGears. Etc. Both forex and stocks are risky and complex. I trade GBPJPY and Gold and nothing else. 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. 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. I dont trade it now as I only really trade ES but best hours are ny session for gold IMO. Join the ranks of successful forex gold traders and turn your investments into shining profits! Welcome to FXGears. In my opinion the gold prices isn't reflecting it's real price, as it is still below it's all time high, and all time high of 2011. Your insights on real human traders make a lot of sense. Trading bitcoin is based in nothing. It will eat your account for breakfast. Dive into the world of forex gold trading and discover the golden opportunities that await you! 3. I've been searching all day for different regulated brokers that support forex, indices & commodities trades for US Citiziens but I keep running into US Regulations against trading XAU/USD & XAG/USD. It has way too many factors which impact it. it runs 23 hours a day 5. Gold, often referred to as the “safe haven” asset, has been valued for centuries due to its rarity and intrinsic worth. Based on my own experience, the best brokers for beginners are Coinexx and Pepperstone. I can find patterns manually very well. And trading will be much easier for me. It doesn’t move like forex pairs. HyroTrader allows you to trade on an account with up to $100,000 in capital and keep up to 90% of your gains. , but I see some validity in their views after I started trading based on Welcome to FXGears. 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. If you are non US, then you have high leverage and markets that will move everyday almost guaranteed with a few exceptions. Good question - started with trading Forex and other Futures, because I liked the exceptional liquidity available in these markets (albeit my approach wasn't ideal to begin with: used to trade several Forex pairs and commodities, and now only trade one Forex pair and only look at Gold & Silver in terms of commodities). I also enjoy the meta-games played in the spot markets around trading. 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. Lastly, one of the main differences between the two is that the Forex market operates on a 24 hour basis, around the clock where stocks tend to be confined to the limited trading hours of the exchange. 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. It allows you to trade with real money on a ByBit sub-account. Trading forex depends on factors such as interest rates, government debts and forecast expenditure and a multitude of other factors. If your serious about day trading, there's no way you would use TV. If I place a random trade on Silver or Oil or Natgas, I usually make a profit, but Gold is really up and downs. Now I have 20 available to me. Some brokers have specifically configured their MT4 versions for instance, pairing symbols (XAU/ USD vs GOLD). Don't do this. Gold pumps when dollar dumps and vice versa. The most valuable currency (pound) vs the tanking japanese yen makes for really good swings, especially in London and New York session. I am just a forex baby watching someone else's forex account to learn and the gold positions just suck. Every YouTube trading video now is i made $60K today or they started trading 2 yrs ago and am a millionare driving a lambo and showing a mansion . Crypto is relatively new, while forex is a well-established market. Welcome to FXGears. Coinexx identifies itself with low spreads as low as 0. I would say the forex is better as it is more convenient. The Dollar is the only trade. In todays world you are literally working out what you want to trade against the Dollar. Sep 4, 2023 · Both Forex and Gold trading come with their own set of risks and potential returns. With comparable fees, it takes more to break even with micros. Gold is actually very enjoyable to trade, it respects trendlines very much. Hey TV, why not add a feature that alerts when a stock is halted?? Welcome to FXGears. 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. I had big struggles scaling in with 1-2 Minis per Trade. I been trading 8 yrs and my highest yr was $120K . HyroTrader is a crypto prop trading service that caters entirely to cryptocurrency traders. In the past 11 years gold has gone down. 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. willl be Unleash the power of forex gold trading and unlock your financial potential! 2. But struggling to automate the pattern detection process. That being said, MGC allows for trading gold at 1/10 the size. 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. All markets present opportunities. 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. I actually just switched from ES (after months and months of trading it and years before that trading SPY/ SPX options) to NQ i have never been happier take a day like yesterday where ES held barely an 18 pt range while NQ moved 150pts NQ gave us the range we needed to make profits ES just doesnt move enough anymore Welcome to FXGears. 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. I read in many places that trading gold is the most difficult asset, but like you, I want to trade only this. I know this topic has been brought up multiple times in the community, but in particular I’m wondering whether it’s easier to day trade pennystocks compared to forex? comments sorted by Best Top New Controversial Q&A Add a Comment. First, I don't think Forex is the "gold standard" for trading. 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. Don’t trade gold if you’re new to trading. Personally FX is the way to go. Rest, you should choose as per your knowledge and skills on forex or stocks. However, there are some well-known strategies that can be applied to be successful when trading gold in a short term approach. You can earn more money through forex trading. Most brokers do not offer trade connectivity to TradingView. Gold is also hovering over its sold support 1680-1688. Honestly, I don't think there is a gold standard. Nope! Both are different markets. Gold moves the cleanest especially in new york session imo I tried gbpaud and some other mixes but the pip count is always highest on GJ than any other yen or pound pair. Forex trading’s leverage can lead to substantial profits but equally significant losses. 🥇 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. 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. i know they are all fake but makes me feel like a loser . To gain access to a funded trading account, you must first complete a trading Most people use MetaTrader to place their trades because that is what the broker typically provides as the trade execution platform. There's no level 2, you can't short, you can't trade OTC markets, no advanced order types, no direct routing, no borrows or locates. But i have been more successful with long term trades ranging from 3 days to even 2 weeks or longer. Other than that, nothing major. 🥇 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 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. Gold has never been low like this for over a decade. Gold isn’t forex, gold is a precious metal which has great volatility. 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. May 10, 2024 · When it comes to investing, trading gold, and trading forex are two popular choices among investors. Gold is my most successful asset. The best forex broker is likely to be one of those, but looking further in the Top 10 Forex Brokers in the World is suggested to have a more complete comparison between each forex broker. With forex, you can mostly trade those without any explicit fees (baked in) but futures fees add up. I'm not sure why. 4/ for me it used to be fomc and nfp but Welcome to FXGears. On the other hand, gold, known for its stability, might yield more modest returns but with a lower degree of risk. 350K subscribers in the Forex community. Moreover, crypto is more volatile than forex. I think it will also help me with big red days like following r/Forex • WTF . Just not enjoyable to research having to filter through those people. there are CoT reports and some minor market mechanism differences and its derivative. 1/ I used to trade gold a lot with cfds before I moved to futures. The main index futures come in mini and micro, which is 1/10 the notional value of the mini. Members Online Top Unregulated Forex Brokers for 2024: High-Risk, High-Reward Trading Welcome to FXGears. It’s not the instrument, it’s the contract size. I occasionally trade gold, along with other metals. Sometimes They will also have slippage on Welcome to FXGears. If you just started day trading, you'll understand in a month two. 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. . Can i have your opinion please Gold Trading Strategies. You need to learn and practice to earn a good amount of money. Ok, so I trade gold every day for the last 2 years. In general, leverage is not offered in equity trading so more trading funds are required than what might be needed in leverage Forex trading. When it trends, it trends beautifully. Even when I backtest, I can't seem to identify a consistent trend. ptpj atmis mewvuf ztyw wcpjsr upnqegd prlvikrj mkwn gbrp hydwqkw