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Thread: Gold Gold Gold

  1. #1
    Bullish softFOREX's Avatar
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    Default Gold Gold Gold

    Hello!
    What do you think about GOLD trading?
    I'm not good in gold BUYing but I search the history of it and found out that when gold falls- it falls huuuuge!
    So I think we can try to sel from historical heights and something tells me that soon we will see biiiiiig move down.
    Attached Thumbnails Attached Thumbnails GOLD2.JPG  

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    Bullish softFOREX's Avatar
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    Default

    So I'm preparing to begin to sell from 715 to 730 and profits in 640-650 area

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    Bullish softFOREX's Avatar
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    Cool

    So, as I was expected this week we had a huuuuuuge move down with the metals. I was expecting to see 715 first so litle bit upset because had some sell orders from that level, but the target was good 640, so now to need to find another pivot points to enter.
    P.S. Anyone trading gold to share experience?
    Attached Thumbnails Attached Thumbnails GoldFX1.JPG  

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    Piplet AMalaysia_forex's Avatar
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    Default Question I would like to know?

    There are many kinds of gold
    gold model 24
    gold model 22
    gold model 18
    and each type of gold had a different price,
    Question is :
    Which type of gold is Traded in Metatrader?

  5. #5
    Denis Peganov, FXOpen Development Director cool user FXOpen Manager's Avatar
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    Post Gold

    Quote Originally Posted by AMalaysia_forex View Post
    There are many kinds of gold
    gold model 24
    gold model 22
    gold model 18
    and each type of gold had a different price,
    Question is :
    Which type of gold is Traded in Metatrader?
    It is another sistem of counting gold in FOREX.
    1 lot of gold = 250 troy.oz ( hence one troy ounce is exactly 31.1034768 g)
    1 pips on 1 lot = 25$
    Quality of gold is 999.9 ( 1000 g of gold have 999.9 g of clean gold)

  6. #6
    In Profit rodman21's Avatar
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    Default

    Quote Originally Posted by AMalaysia_forex View Post
    There are many kinds of gold
    gold model 24
    gold model 22
    gold model 18
    and each type of gold had a different price,
    Question is :
    Which type of gold is Traded in Metatrader?

    Gold spot markets are trading on 999.9 gold which is equal to the 24k gold (as known in retail markets).

  7. #7
    Bullish
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    Default

    Hi all i look gold price is grow up now, see on e-gold sites. I think now is good time to make an investment and when gold price is down, it's the time to take profits and wait for up again then with this way, we can get more profits.

    Anyone here have a different opinion or strategies??

  8. #8
    In Profit 13thheaven's Avatar
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    Default

    i think gold will go a long way down for now... , but still much corrections will be made...

  9. #9
    In Profit rodman21's Avatar
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    Default

    Quote Originally Posted by 13thheaven View Post
    i think gold will go a long way down for now... , but still much corrections will be made...
    If we look back several years ago, we see GOLD is consistantly raising in value (going up), sometime moving %100 or more yearly. For sure the yellow metal is a great investment however; when traded on margin like we do in Forex, you have to be very careful, because a small down in price will definitely hurts.. a $1 movement in troy price will reflect as $100 per 1 lot trade size.

    my advice is you can buy gold any time in the year and be sure it's good investment, however, with very very low trade sizes. For bigger trades you need to stay on screen and swing a little, be satisfied with any few dollars up move in the price and close the DEAL

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