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Thread: How can i open a trade in gold?

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    In Profit Mazakoni's Avatar
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    Default How can i open a trade in gold?

    I can't understand how to trade gold, is it like currency trading, i.e can i trade using 0.1 lot and so?
    and what is the margin required?
    also, how is the profit calculated?

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    In Profit Mazakoni's Avatar
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    Quote Originally Posted by theskyhy View Post
    Oh, think of a piece!
    What do you mean?

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    Director of FXOpen Aus FXOjafar's Avatar
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    Quote Originally Posted by Mazakoni View Post
    What do you mean?
    Please note, theskyhy is banned for repeated and blatant post building for the bonus by copying other's posts, posting off topic posts, complete nonsense posts and having multiple forum IDs.

    That's why you didn't know what he meant
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    In Profit Mazakoni's Avatar
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    Quote Originally Posted by RebateFX.com View Post
    Please note, theskyhy is banned for repeated and blatant post building for the bonus by copying other's posts, posting off topic posts, complete nonsense posts and having multiple forum IDs.

    That's why you didn't know what he meant
    Thak you for clarification, But could you answer the question about trading gold, i am really curious to know

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    today...PM:21:10
    sell ... GOLD ..812.00...
    take profit at...800.00..

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    In Profit Mazakoni's Avatar
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    Quote Originally Posted by ziyouxing View Post
    today...PM:21:10
    sell ... GOLD ..812.00...
    take profit at...800.00..
    Thank you for sharing, but i need to know how to trade, is it like trading forex, or having other specifications?

    Hey people i don't think it is too hard to answer

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    Director of FXOpen Aus FXOjafar's Avatar
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    Quote Originally Posted by Mazakoni View Post
    Thank you for sharing, but i need to know how to trade, is it like trading forex, or having other specifications?

    Hey people i don't think it is too hard to answer
    I don't trade gold, but it is more influenced by world events, mining, supply and demand and seasonal effects than forex is.
    Jafar Calley - Director
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    In Profit Mazakoni's Avatar
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    Quote Originally Posted by RebateFX.com View Post
    I don't trade gold, but it is more influenced by world events, mining, supply and demand and seasonal effects than forex is.
    thanks.

    and to make my question clear for others, i meant is it different in lot size, leverage, excuting the trade.

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    Bullish lionel.leo's Avatar
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    hmm.. looks like nobody answering the main question asked i really wanna know how can we trade gold n view its charts in metatrader under this broker - fxopen?

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    hi lionel, i think that the margin must be more great than the margin required for the forex, don't forget that you can easily win 2000 or 3000 pips in just one intraday trade, so you can loose that qty too... too dangerous, but very very profitable.!! i think i try it when i have the required margin.... i hope that manager reply this thread fast.

    see you

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    In Profit Mazakoni's Avatar
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    now i am trading gold in (the link in my signature), because i don't know how to do this in mt4, i used this website:

    they give you 1 gm of gold, you sell it when you think the price is fair, then wait till the price become low, buy again and so

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    Denis Peganov, FXOpen Development Director cool user FXOpen Manager's Avatar
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    Quote Originally Posted by Mazakoni View Post
    now i am trading gold in (the link in my signature), because i don't know how to do this in mt4, i used this website:

    they give you 1 gm of gold, you sell it when you think the price is fair, then wait till the price become low, buy again and so
    It is easy to trade gold in FXOpen MT4, open MarketWatch window and choose GOLD charts to trade

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    In Profit Mazakoni's Avatar
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    Quote Originally Posted by FXOpen Manager View Post
    It is easy to trade gold in FXOpen MT4, open MarketWatch window and choose GOLD charts to trade
    I meant does i have to buy certain ammount of gold?
    what 0.1 lot mean? (in forex 1:500 leverage 0.1lot standard account = 20 dollar from my balance) what does it mean in gold?

    what margin must i have (as a minimum) to open a trade ?

    That what what i meant

    thank you for passing buy

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    Oh dear, no one answer this.

    When you decide to trade Gold, always calculate your margin requirement because it's a price based margin trade.

    1 Standard Lot means you put the bet exactly with the price level.

    Example if Gold now is 800.00, it means with 1 S-Lot you put 800$ of your capital in the bet.
    If Gold is now at 810.00, it means you put 810$ in the bet.

    This is for the Bet Margin.


    What about total money requirement for opening 1 S-Lot?


    Careful when you had not enough left margin to play gold. The normal spread is 1$ or 100 pips down. It means you will need 100$ as preserve capital to outcome the broker spread.

    So the calculation is:

    For 1 S-Lot = you will need 100$ + Current Price exactly.

    Example: Gold Ask is 810.00 now. That means you will need 100$ + 810$ = 910$ to LONG 1 S-Lot.

    Of course you will need more than this number for risk management.

    What about mini account?
    Divide it into 10. It means 1 S-Lot is 10 times of 1 Mini Lot. That makes 1 M-Lot is 81$+10$=91$ for opening. Of course profit and loss is divided into 10 times smaller than Standard Lot.
    Last edited by aowaow; 12-27-2007 at 04:29 AM.

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    Default

    Gold Lot needed too many

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