Gold Trading Strategy

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Best Online Gold Trading Strategy: 7 Easy Tips

There are many gold trading strategies.

Sad thing is only a handful of them really work.

Read our guide to really learn about trading gold!

Nearly a century back, famous French writer Antoine de Saint-Exupéry said what has now developed into a fundamental adage of planning: “A goal without a plan is just a wish”.

A century later, this iconic statement is not only still valid but has actually now become applicable to all domains of life, including business.

Having a proper strategy and a backup plan in place not only allows you to deal better with the dynamic nature of the trading world, but it also allows you to deal with the unforeseen uncertainties in a better way.

Being new to any business, developing a new strategy, let alone a challenging one such as gold trading strategy, can be an intimidating affair.

By doing some early homework however, you can learn what works and avoid costly mistakes.

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Is it true that you are energetic to begin yet somewhat uncertain of how to approach the challenge? Assuming this is the case, then fear not. We have a few strategies to help you get through the process.

1. Understand the Movers of the Market

As is the case with any other trading market, it is imperative that you first get a strong grip over the factors that influence the price of gold. A number of variables determine the price of gold including the usual macroeconomic variables such as the Interest Rate, Inflation, perceptions of people and of course, supply and demand.

As you’ll learn over time, all these factors, and their resultant repercussions, are not mutually-exclusive. You always run the risk of narrowly viewing one mover of the market in isolation, thereby ignoring the effects of the other.

Likewise there are multiple trading platforms such as physical trading, future contracts, ETFs and company’s stock. Needless to say, each has its advantages and disadvantages.

2. Know Your Crowd

Remember, you’re not the only trader in the market. There are millions of other players in the market, all with their vested interests, dealing in different denominations.

Broadly, there will be gold bugs (long-term hoarders) and there will be short-term players.

Gold bugs are in for the long haul and will hardly be deterred by downtrends that filter out somewhat less ideological players.

Gold also attracts massive hedging activities by financial institutions that make transactions in combination with other bonds and currencies, a process called “Trade-off”.

Investment requires significant time and commitment. Putting in the early hours to understand the market obviously helps, and understanding the gold price chart goes a long way in improving your knowledge.

Study the trends, understand the troughs and crests, the reasons for sudden spikes and contractions and try to develop your own reasoning based on historical events.

Based on this reasoning and statistical tools, you can anticipate future trend movements and predict their outcome.

4. Learn Trading Techniques

There are virtually thousands of gold and Forex trading mechanisms and techniques, including statistical packages, Daily FX Technical Analysis page, RSI Indicators, online sites etc. which help you understand the trends and patterns of gold and Forex rates.

The seemingly difficult platforms are commonly used by industry specialists and gold trading companies and in actuality, are not that difficult to use.

5. Online Gold Trading

Trading gold over the Internet is a popular trading strategy and is based on somewhat similar principles as Foreign Exchange (Forex) trading. Thus, it is important to first familiarize yourself with the basic principles of online Forex trading before trying your luck in trading. Web gold trading provides you with greater flexibility and liquidity as you don’t have to physically own or trade any gold.

Obviously, there are natural advantages such as no cost of storage or risk of theft. Gold can be traded online in the form of an ETF (Exchange-traded fund) at competitive price, just like other commodities.

This video here better explains what ETFs are:

6. Avoiding a Disaster

As alluded to earlier, diving in a new business without a proper plan (and a backup) is a recipe for failure. Trying to earn money by mimicking the trading styles of others is hardly ever going to pay off. Remember, every person is in the market for his or her own personal reasons, adopting different styles and tactics to succeed in the market.

Since it’s your investment, it’s also your obligation to study the trends yourself and set benchmarks for sale and purchase prices.

Also taking care of minor details before the trading day, such as power supply, clean RAM and alerts for entry and exit signals, can go a long way in ensuring that a distractions-free and effective gold trading period. Lastly, only trade a portion of your position; never take a risk with more than a percentage of your portfolio.

7. Setting Benchmarks

A number of traders make the costly mistake of devoting most of their time and concentration towards buy signals, but allocate very little effort towards exit. Before you enter a trade, it is imperative that you set your exit points.

A golden rule for all traders is to set two pre-determined benchmark values i.e. setting a profit margin and knowing when to take the punch in case of a loss. Very often, gold traders try to hold on to their gold, hoping for an increase in price, only to see the value of their commodity plummet even further. Similarly, once you touch your sell benchmark value, sell a portion of your stake.

The Bottom line

In summary, it’s important to have a few standard foundations in place before investing in gold.

You should get a grip over market dynamics, develop a plan, set realistic benchmarks, abide by these pre-determined benchmarks, and be prepared to take a loss and move on.

Remember, luck plays a crucial role in trading, but many unsystematic risks can be negated by your research and understanding.

Editor’s Note : If you are considering investing in gold, you can get more advice from the Gold IRA Guide . This helpful investor kit is packed with information to help you decide on whether gold investing is right for you.

Gold Trading: Strategies to Trade it Profitably

Day Trading Strategies for Trading Gold

Since time in memorial, gold has played an important role in the financial market. It has been synonymous with luxury and power. In the past, it used to make religious idols, honor monarchs and serve as currency. In the United States, the dollar was pegged to gold until 1971 when this peg was removed.

To date, the Federal Reserve and other central banks around the world hold huge deposits of gold for emergency purposes. After the great depression, the Roosevelt administration fixed the price of gold at $35/ounce. This was removed by the Nixon administration in 1971 leading to a 2,200% gain in its price resting at $800 before going down to $260 in 1999.

After this fall, gold began a bull run and is today trading at $1,136. These fluctuations are very important for traders who can make a lot of money in the process.

In this article, We will explain a few strategies to help you trade gold spot prices.

Gold daily chart

Fundamental and intermarket factors

As a commodity, gold prices depend on a number of factors such as supply and demand. In addition, monetary and fiscal decisions play an important role in pricing gold. In a strong economy, there is increased confidence for investors to buy gold. As a result, the price keeps on going up.

The better the returns in the bond and stocks market leads to higher returns in gold prices. Historically, a strong dollar leads to strong gold and vice versa.

As a day trader, you need to have a holistic approach about the fundamentals so that you can know when to enter and exit a trade. Presently, the Federal Reserve is contemplating raising interest rates. As the year progresses, We expect that the price of gold will fall in anticipation of the tightening measures.

1 month chart of Gold and EURUSD

Technical strategies for gold trading

For day traders, price movements are key to make sweet returns in gold trading. In many cases, gold will follow a certain trend. Therefore, it is your responsibility as a trader to find the trend and enter a position.

To identify a trend, trend analysis is very important. Luckily, there are tools (indicators) which can help you in this. For short term trades, you simply want to identify the support and resistance levels.

→ The most common Technical Indicators for Day Traders

Trendlines also play a very significant role in confirming other technical indicators such as those generated by MACD and Relative Strength Index (RSI).

In our experience, we have identified the best strategy as one where we wait for the trendline to be breached before we make our entry position. To create an upward trend, the best strategy is to connect a series of rising bottoms and finding a support opportunity. On the other hand, a downward trend is created by joining a series of highs.

Another technical strategy to use is that of moving averages because they are simple to use and easy to generate. The best buying position is when the shorter term, faster moving average passes above the slower one. Also, you can sell when the faster average crosses below the slower average in a trending market.

To execute this strategy in the best way, you need to first understand the type of market, whether it is a trending market or a range bound market. Other trend analysis indicators you can use include:

Identifying a divergence is also very important. A good indicator to help you in this is the Relative Strength Index (RSI). Quite often, the RSI will hit highs and lows as gold price turns either down or upwards.

To place a trade, you should always try to find a confirmation of the divergence. Confirmation leads to an increase in confidence. With increased confidence, the result will be a better trade.

The Bottom-line

To make sweet returns in trading gold, you need to understand the key factors that lead to price movements. In addition, having a good understanding about the economy will help you make confident results.

After understanding the macro conditions, you should now focus on technical analysis.

By understanding the trend, and knowing how to identify the divergence, you will be at a good position to make good entry and exit decisions.

Gold Trading Strategy

Gold trading strategy based on leading planetary price and time signals. My daily gold trading advisory and gold trading strategy is very specialized and the only one that provides precise planetary levels and key times for intraday tops, bottoms, or reversals. Ideal for an active day traders in the gold futures market or traders of Gold etf’s.

My Daily Gold Astro-Timer™ and Gold Trading Strategy for intraday trading, is based on more than two decades of research and experience using planetary market timing methods in the field of financial astrology. Some of the methods I use to make my daily and weekly forecasts for my Gold trading strategy include transits to the 1st trade horoscope for Gold and the use of planetary price harmonics. The positions of the planets and the angles the planets form to one another (aspects) is the timing factor. The planetary positions and angles are then converted into their respective price equivalents. When price and time are equal, price reverses like clockwork during the day. The strongest trade set ups in my Daily Gold Astro-Timer™ and Gold forecast occur when price reaches a key planetary support or resistance level at one of the key times listed. This is when the best trade set ups usually occur for a change in trend during the day! A good entry technique must be used and the planetary support and resistance level define the risk per trade and profit points. This is the only practical way financial astrology really works to effectively time the markets.

My daily Gold trading strategy and market timing service is for experienced traders that are looking for more accurate leading indicators to improve their timing and trading performance.

This very specialized Daily Gold Astro-Timer™, Gold trading strategy and Gold forecast including intraday trading signals is based on my own proprietary astro-timing methods and research in the field of financial astrology and includes:

  • Market forecast based on planetary timing tools and trend analysis based on swings and multiple time frames.
  • Key reversal days of the week for Gold and key reversal times and turning points during a 14 hour time period from 2AM – 4PM, eastern when the London and New York exchanges are open.
  • Key daily planetary support and resistance price levels based on daily planetary price harmonics for confirmation of tops or bottoms, good risk management, trade entries, and profit points.

With a high degree of accuracy, the key times calculated during the day are usually when tops or bottoms unfold or intraday reversals or break outs occur. When price reaches one of the key planetary price levels at one of the key times indicated, this very frequently triggers reversals and the best opportunties for intraday trading. These key planetary times are based on proprietary astro-timing methods and alone are worth many times more than your monthly subscription rate. Daily Gold Astro-Timer™ will put time on your side and give you the winning trading edge!

View my latest 5 min. youtube and sample report posted for Jan. 10, 2020 here!

Here are recommended trading guidelines for best use of the timing signals in your daily reports:

The key planetary times in your daily report are calculated in eastern time, (New York time). You will have to adjust to your time zone. These times are usually when intraday tops or bottoms unfold, or reversals begin to occur.

I recommend adding the planetary support/resistance levels on your charts in your trading software and use a 4 – 5 min time frame for intraday trading.

On key reversal days, a break of key support or resistance levels indicated in your reports will confirm the direction up or down for buy or sell signals. Once price breaks a key level, it usually goes at least to the next level for profit points along the way.

For intraday trading, if price is trending higher and tests key resistance within a few minutes of a key planetary time in your report, this is usually a set up for a reversal and pullback. If price is trending lower and tests key support within a few minutes of a key planetary time, this is usually a set up for a low and turn higher again.

It is recommended to wait for the next bar for confirmation of a reversal up or down. One entry technique is when the high or low of previous bar is taken out.

Most day traders do not risk more than 1 – 2% per trade. When Gold moves enough in your favor, it is recommend to move your stop loss to break even to protect your capital. Once a trend is established, a trailing stop loss is recommended to ride the trend as far as it will go and to avoid giving back your profits.

A stop loss is best placed above or below the planetary support or resistance levels where the turn occurred.

On reversal days higher, the larger moves will occur buying the dips or pullbacks. On reversal days lower, selling the rallies usually yields the best results for larger moves lower.

If price is trading sideways or consolidating, more caution is advised. A break out of the range if occurs at a key planetary time, usually takes price up to at least the next key level of planetary support or resistance.

My daily service is for experienced day traders that already have the skills but who are looking for a better trading and timing edge, and roadmap based on these leading planetary price and time signals.

If you do not actively day trade Gold and prefer longer term trading or swing trading, my weekly reports including important updates during the week is also available for you at $150/mo. Visit weekly astro-timing reports subscription option and select Gold.

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