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May 18 I Session 1 I GBIH

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May 18 I Session 1 I GBIH

  1. 1. MONEY MANAGEMENT STYLES METHODS IN GOLD TRADING
  2. 2. POINTS TO BE COVERED TODAY:  Maximum Number of Open Position  Invest Sufficient Capital  Exercise Discipline  Managing Account Capital Basics  TIPS: Maximizing Profits of Gold Trading Systems  Gold News & Analysis  Gold Price & Chart
  3. 3. Maximum Number of Open Position  A final point to consider is the maximum number of open positions - that is the maximum number of trades that you want to be in at any one time. This is another factor to decide when managing your account capital.  If for example, you chose a 2% risk management method per trade, you may also say chose to be in a maximum of 5 positions at any one given time.  If all 4 of those positions close at a loss on the same day, then you would have an 8% decrease in your account balance that day.
  4. 4. Invest Sufficient Capital  One of the worst mistakes that traders can make is attempting to open a trading account without sufficient capital.  The trader with limited capital will be a worried investor, always looking to minimize losses beyond the point of realistic trading, but will also be frequently taken out of the transaction before realizing any success out of their trading strategy.
  5. 5. Exercise Discipline  Discipline is the most important thing one can master to become profitable when trading gold online.  Discipline is the ability to plan your work and work your plan when trading Gold.  It is the ability to give a Gold trade the time to develop without hastily taking yourself out of the market simply because you are uncomfortable with risk.  Discipline is also the ability to continue to stick to your trading plan rules even after you have suffered losses.  Do your best to cultivate the level of discipline required to be profitable when trading Gold online.
  6. 6. Managing Account Capital Basics  Money management is the foundation of any Gold trading system as it helps investors to get profit transacting on the online spot Gold trading market.  It is especially important when transacting in the leveraged online Gold market.  If you want to invest successfully in the online Gold market you should realize that it is very important to have an effective trading strategy of money management because you will be using leverage to place your trading orders.
  7. 7. Managing Account Capital Basics  The difference between average profits and losses should be strictly calculated, the profits on average should be more than the losses on average, otherwise trading Gold will not yield any profits.  In this case an investor has to formulate their own trading rules; success of each person depends on their individual traits.  Therefore, every investor makes his own trading strategy and formulates their own money management, based on the above guidelines.  When you are placing your XAUUSD Gold trading orders put your stop orders in order to avoid huge losses. Stop orders can also be used to lock in profit and get additional profit.  Consider the chance to get profit against loss as 3:1 - this risk: reward ratio should be favorable more on the profit side. Considering these rules and guidelines, you can use them to improve profitability of your trading strategy and try to develop your own strategy that will possibly give you good profits.
  8. 8. Define Simple Trading Rules And Follow The Trend  The simpler the trading system rules are the better.  If the Gold trading system rules too complicated, it will be very difficult to stick to the rules.  Complicated trading systems are also very confusing.  A simple Gold trading system makes it easy to follow the rules.
  9. 9. Eliminate Risk Quickly and Let Profits Run  Minimizing risk is far more important than making money when it comes to online trading.  Our first objective in trading is to make the trade less risky. We do this by entering only high probability trading setups, setting stop losses, cutting losses quick and never averaging down, and letting the profitable trades run for a while, just long enough but not too long so as increase the profits.  Profitable trades are only kept open as long as the system shows the trend is in place, these transactions should be closed immediately once your exit signal criteria is generated by the trading system.  How long you keep your trades open will depend on what type of Gold trader you are, If you are a day trader than you will only hold your trades open until the end of the day and close them at the end of the day even if the trend still shows signs of continuing - this is because you are a day trader and you will only hold open trades until the end of the day - you cannot just hold on your trades overnight just so as to let your profits run because that is not the trading strategy that is specified in your trading plan.
  10. 10. Choose The Right Trading Schedule  To maximize the profitability of your Gold trading system find the most active trading hours for XAUUSD and trade during these hours only.
  11. 11. Use Money Management Rules  Always risk less than 2% of your total account equity per trade transaction.  With compounding, you will be surprised to see how quickly your Gold trading account grows once you start to trade with a profitable Gold trading system.
  12. 12. Keep a Gold Trading Journal  Keeping a log of all your trades will help you to become a better and better and will help you follow the rules of your system.  A journal will also keep track of your profitable trades and losses and you can analyze why a setup was profitable and why it was not.
  13. 13. Set Take Profit Targets  Establish a daily, weekly or monthly profit targets. Once you hit this target.  This will stop you from over-trading and will also stop you giving back your profits the currency market.  Keep your reward to risk ratio high, a 3:1 reward to risk ratio is best.  This means opening transactions only when you have the probability of making three times what you are risking.
  14. 14. Gold Trading Charts - XAUUSD Trading Charts  The chart below shows the price chart of gold. Traders will trade gold using this price chart.
  15. 15. About Gold Trading Charts  From the chart above a trader can quickly determine the direction of the gold prices from the price movements.  The first part prices are moving upwards in an upward trend, then they start to move down in a downward market trend and then finally the prices move upward in an upward market trend.
  16. 16. Gold News & Analysis  XAU/USD extends rally to multi-month highs after technical breakout • Risk-on mood favors gold buyers amid downbeat US dollar, Treasury yields. • Sluggish US data cools down inflation concerns, helps Fed to defend easy money policies. • Geopolitical, covid headlines can offer intermediate moves but nothing major to keep a tab on.  XAU/USD eyes additional upside towards $1880 Source: Gold Forecast, News and Analysis - FXStreet
  17. 17. Gold Technical Overview
  18. 18. Gold Fundamental Overview
  19. 19. Gold Price & Chart
  20. 20. MONEY MANAGEMENT STYLES METHODS IN GOLD TRADING
  21. 21. THANKS FOR LISTENING MONEY MANAGEMENT STYLES

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