Five Big Major Mistakes Trader Makes When Trading Gold
Majority of People directly take instant positions Buy and Sell as soon as market news released, The best way to make money during News is to use Pending Orders Only (Buy limit and Sell limit) with at-least $40 distance and play with grid trading from small lot size to high lot size for hedge the profit.
Don't trade GOLD until you have at-least $500 in your Forex Account with minimum leverage of 1:200, because without stop loss when gold becomes volatile it can blow your trading account quickly, so be careful while trading gold.
If you're beginner then never ever do Gap Trading, you don't know where the new week Starting High and Low will it be, always try to close the position by Friday Night.
Always Use Support and Resistance Indicator for making better decisions and Fibonacci retracement levels for identifying the trend pattern.
Never do Swing trading on Gold, if you're not aware of retracement pattern and Fundamental News, mainly Gold makes imbalance the market when 70% of either Short or long positions held.
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