Anyone has any insight on Spread betting spot Gold?

[lightclark]

I been spread betting gold for a month or 2 and i just feel like the are only around 2 or 3 wave in a day and that it normally move sharply and not much of a profit that you can make..... i am still pretty new to this, just hope if anyone can give me some advance on it.
Cos i am slowly looking into other market to trade, been looking at brent crude for a month and not sure if i should stick with gold for longer then trade brent crude. Does anyone have any suggestions?

Thanks so much for your time
Clark

 

[TheBramble]

Yes.

Only trade Gold when you can make a profit.

Same goes for Brent Crude.

Have you done any research into Gold or Brent Crude or technical analysis or fundamental analysis?

 

[lightclark]

Yer i use 4 indicators and been looking at their patterns for the past 2-3 months, their time frame, their support and resistance, average fluctuation and their reactions against news and USD index. I think i have a base understanding about them 2 but i just still feel hesitant when i trade, i can manage to enter at good entry points but can not make myself to hold and most of the time get out really early. I just wonder if there is something that i am missing.

 

[Atilla]

Yer i use 4 indicators and been looking at their patterns for the past 2-3 months, their time frame, their support and resistance, average fluctuation and their reactions against news and USD index. I think i have a base understanding about them 2 but i just still feel hesitant when i trade, i can manage to enter at good entry points but can not make myself to hold and most of the time get out really early. I just wonder if there is something that i am missing.

I don't think gold or oil responds well to technical charts imo.

You'll do better with Fundamental Analysis for long term investment as they are both news driven and highly speculative.

In short supply they are both likely to rise for the next 3-15 years.

You are better off trading FX or indeces if you are starting out...

Good luck...

 

[Pazienza]

I been spread betting gold for a month or 2 and i just feel like the are only around 2 or 3 wave in a day and that it normally move sharply and not much of a profit that you can make..... i am still pretty new to this, just hope if anyone can give me some advance on it.
Cos i am slowly looking into other market to trade, been looking at brent crude for a month and not sure if i should stick with gold for longer then trade brent crude. Does anyone have any suggestions?

Thanks so much for your time
Clark

I think that these are good choices actually, although I personally wouldn't use indicators.

If you are looking at other markets, try YM, NQ and TF. These move very nicely and if you are patient can be very rewarding to trade.

 

[brettus]

Buy Gold and Oil, because they will run out one day. That's the best advice you'll get.

 

[Pazienza]

Buy Gold and Oil, because they will run out one day. That's the best advice you'll get.

That's true as far as it goes. Although people should remember that it's perfectly possible that no-one will want them for exactly the same reason.

 

[brettus]

That's true as far as it goes. Although people should remember that it's perfectly possible that no-one will want them for exactly the same reason.

But then who would buy Harrods and Man City.

 

[Pazienza]

But then who would buy Harrods and Man City.

?

 

[brettus]

?

Owned by Arabs.

 

[TheBramble]

Yer i use 4 indicators and been looking at their patterns for the past 2-3 months, their time frame, their support and resistance, average fluctuation and their reactions against news and USD index. I think i have a base understanding about them 2 but i just still feel hesitant when i trade, i can manage to enter at good entry points but can not make myself to hold and most of the time get out really early. I just wonder if there is something that i am missing.

Ah yes, now I understand.

You're not cut out for trading.

Do something else.

 

[Pazienza]

Owned by Arabs.

Aha!

There won't be any. They'll use the last few barrels of oil to juice up the Stealth Bombers and carpet bomb the Middle East. The US will figure, once the oil's gone, why not?

Either that or there will be a major regional conflict that will probably end badly for everyone, but especially the Saudis. They've got to be pretty close to the top of Iran's list once they get the bomb next month, or whenever it's going to be.

So I reckon Harrods will revert to being a penny emporium once again, and the new owners of Man City will probably be gruff northern businessmen called Bert Flatcap and Arthur Eeooplad.

 

[Pazienza]

Ah yes, now I understand.

You're not cut out for trading.

Do something else.

Harsh, but he's got a point. Ditch the indicators, they won't help you.

 

[Atilla]

Aha!

There won't be any. They'll use the last few barrels of oil to juice up the Stealth Bombers and carpet bomb the Middle East. The US will figure, once the oil's gone, why not?Either that or there will be a major regional conflict that will probably end badly for everyone, but especially the Saudis. They've got to be pretty close to the top of Iran's list once they get the bomb next month, or whenever it's going to be.

So I reckon Harrods will revert to being a penny emporium once again, and the new owners of Man City will probably be gruff northern businessmen called Bert Flatcap and Arthur Eeooplad.

You deranged poor sod... Why would they do that?

 

[Pazienza]

You deranged poor sod... Why would they do that?

They'll figure they might as well, they'll see no reason not to once the oil's gone. BUT you never know what new vital resource of the future some camel-herder might find buried under the desert, and we all know how much trouble oil has caused.

So they'll do it just to be on the safe side as well.

This is hardly a revelation is it? Haven't you noticed - they've been practising bombing the sh1t out of the region for years.

There's also a slim chance that the comment was meant as a tongue-in-cheek one, and that I don't consider likely, or support the idea, that the US will use the last few barrels of oil to indiscriminately bomb millions of square miles.

 

[Pazienza]

You deranged poor sod... Why would they do that?

http://www.youtube.com/watch?v=IhnUgAaea4M

 

[lightclark]

Harsh, but he's got a point. Ditch the indicators, they won't help you.

I dont really use the indicators, i mainly base my trades on support resistance, price action and patterns but just feel more secure when i have the indicators to confirm.
But thanks for the advice, i am just looking at indices and forexs now.

 

[JRP2891]

That's true as far as it goes. Although people should remember that it's perfectly possible that no-one will want them for exactly the same reason.

As far as oil goes i agree, however as long as we have fiat currencies there'll be the demand for gold.

 

[JRP2891]

Yer i use 4 indicators and been looking at their patterns for the past 2-3 months, their time frame, their support and resistance, average fluctuation and their reactions against news and USD index. I think i have a base understanding about them 2 but i just still feel hesitant when i trade, i can manage to enter at good entry points but can not make myself to hold and most of the time get out really early. I just wonder if there is something that i am missing.

Ah yes, now I understand.

You're not cut out for trading.

Do something else.

2-3 months is nothing if you're trying to find your feet in trading. If the OP was still using 4 indicators after 2-3 years with the same results, then he may be better off doing something else.

 

[TheBramble]

2-3 months is nothing if you're trying to find your feet in trading. If the OP was still using 4 indicators after 2-3 years with the same results, then he may be better off doing something else.

I'm just going with the probabilities JRP.