£10kLoser
Established member
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Most FX brokers do gold in the same way as FX. If you get a Metatrader demo, there'll almost bound to be gold in with the currencies and trading with a 5 tick spread. Since it will probably be spot gold, you will be charged a small overnight fee, so if you're planning long trades, you may be better off finding one with gold futures and paying a slightly larger spread.
Try a demo Metatrader from ODL and play around with it!
I day trade gold for between 50 and 150 ticks (mostly 100).
Try a demo Metatrader from ODL and play around with it!
I day trade gold for between 50 and 150 ticks (mostly 100).
Yep. Do the opposite of what I do and when I lose money you will make money. Sadly, the opposite is also true. :clap:
Fantasy Trader
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There are many ways to play the gold market and options are far from the only route if you're looking for limited risk.
Leveraged precious metal ETFs for example have strictly limited risk but potentially plenty of upside.
Leveraged precious metal ETFs for example have strictly limited risk but potentially plenty of upside.
fibonelli
Experienced member
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Spot Gold
Gold Futures - standard lot or mini size - NYMEX or CME/CBOT
Gold Options - NYMEX or CME/CBOT
Gold ETFs - Beware of counterparty risk if underlying are swaps or some other synthetic BS.
Gold Mining Companies - Typically rise/fall between 1-5x Gold Price but also influenced by stock market direction.
Gold Futures - standard lot or mini size - NYMEX or CME/CBOT
Gold Options - NYMEX or CME/CBOT
Gold ETFs - Beware of counterparty risk if underlying are swaps or some other synthetic BS.
Gold Mining Companies - Typically rise/fall between 1-5x Gold Price but also influenced by stock market direction.
rols
Experienced member
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Buy and hold.
Sell your house and buy physical Gold, unleveraged from Buy Gold Bullion Today ▷ Buy Gold Online At Live Spot Gold Prices - BullionVault.com
You may want to stash it in a place where Gordon can't get it.
In the US in 1933 the Emergency banking Relief Act did the following;
Roosevelt moved quickly to protect the melting gold reserve and to prevent panicky hoarding by ordering all private holding of gold to be surrendered to the Treasury in exchange for paper currency and then took the nation off the gold standard.
1. The Emergency Congress responded by canceling the gold-payment clause in all contracts and authorizing repayment in paper money proving that a “managed currency” was on its way.
2. The goal of Roosevelt’s “managed currency” was inflation, which he believed would relieve debtors’ burdens and stimulate new production.
3. His principle instrument was to buy gold, instructing the Treasury to purchase gold at increasing prices.
4. This policy did increase the amount of dollars in circulation, as holder of gold cashed it in at elevated prices.
5. The gold-buying scheme came to an end in February 1934, when FDR returned the nation to a limited gold standard for purposes of international trade only.
$1600 by year end.
Thx Cuotes, do you mean using TradeCommander? Would you pls share your experience with it?
Thanks a lot,
Michael
Tradesurfer
Junior member
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On the US Market Symbol:GLD
Its an etf that tracks the price of gold.
With gold at $910, GLD would be $91
hope that helps if your not wanting to trade the futures contract itself
Its an etf that tracks the price of gold.
With gold at $910, GLD would be $91
hope that helps if your not wanting to trade the futures contract itself
There is one broker I just found call AvaFX, which offer both FX and Metal (Gold/Silver) trading using API. However, its spread on gold is at $0.7, which is higher than I wish (average is no more than $0.5, but they don't support autotrading). Any other recommandation?
Many thanks,
Michael
Many thanks,
Michael