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Gold trading strategy for a beginner on the stock exchange
Today, there are simply a huge number of gold trading strategies, but almost all of them have one big drawback – the difficulty of using them for a novice investor.
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Not long ago, a friend of mine turned to me for advice; he wanted to know how to make money trading gold, and what strategy is best to use?
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Technical aspects of gold trading strategy
Transactions should be opened exclusively through brokers who have the opportunity to trade such an asset as – XAU/USD, that is, gold/US dollar – Brokers for trading gold and silver
It is important that trading is carried out using contracts for difference CFDs, as this will allow the expiration time of futures to be ignored.
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If you do not have sufficient knowledge of technical analysis, then the easiest way to open trades is based on economic news :
As a rule, negative news causes an increase in the price of gold, and positive news causes a decrease in the price of the precious metal on world exchanges.
Gold is rising in price:
Reduction of discount rates
Increased inflation
Growing geopolitical tensions
Reports of an economic crisis
Fall in stock indices
Increased demand for precious metal
Gold becomes cheaper in case of such news:
Raising discount rates
Growth of stock indices
Strengthening the economy
Stabilization of the geopolitical situation
Fall in demand or increase in supply
In order not to miss important events, it is advisable to be subscribed to a reputable financial news channel, and after one of the news listed above comes out, all you have to do is determine its impact on the price of gold and open a buy or sell deal.
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