XAU/USD Forex Trading Forex.com

Don’t give up!

I’m proud to say that I am finally consistent! And by consistent, I mean 6 months of good sleep with a steady growth of my account. This journey began back in March 2016 when my friend introduced me into forex. I’ve lost an average of 1k per year until the start of 2020.
For those feeling horrible because you been stopped out or in a sea of reds don’t be demoralised, think of it as you are paying your school fees. Forex can be a very expensive education...
Things that I have learnt since the start. (May vary person to person)
In my personal opinion! Demo is for new traders like me to learn the basics of forex and once i was familiar with the market, I went live with money that I was okay to lose. I only went back demo to test my strategy when I could trade without emotions. It was a ton of trial and error until this day 😆
If you are like me, a student... My greatest tip for you is to not trade during exams / project submissions...
Trade safe, trade well!
[Edit] I should probably give an idea why I would specifically point out the list of things.
submitted by TeePii97 to Forex [link] [comments]

35% of capital earned in first week of XAU/USD Trading questions

Hello everyone,
First and foremost I know next to nothing about FOREX trading so bare with me.
My friend has recently just setup an account trading XAU/USD with an algorithm and I've helped invest in a small amount the initial capital of the account. As I don't know much about this all I can really say is that the lot size he is using is the smallest that the program allows, and during our first week we have made 35% of the capital back, we were at over 90% but took a big loss on the final day we were trading this week.
My questions are for people trading in this market is earning this amount in a few days then loosing the majority of it typical? Is 35% in a week an unusual amount of earnings for this time frame? Again I hardly know anything about FOREX but from what I've gathered people who are profitable are typically making a very small percentage of they capital per day, whereas we made 24% in one day during our best day.
Is it a case of this market is very extreme / risky as far as short term trades go and you can win or loose a lot of money very fast?
Im hoping to be able to earn sustainable money from this of course, but am not sure if this is suitable, or if what im saying here even makes sense lol.
Cheers.
submitted by Saint_D92 to Forex [link] [comments]

Forecast for XAU/USD: Gold churns out records

Forecast for XAU/USD: Gold churns out records

Fundamental forecast for gold for today

Precious metal climbed too high

It’s done! What gold bugs had been dreaming about for decades happened: the price has reached a level of $2,000 per ounce. The weakness of the US dollar, the fall of the 10-year U.S. Bond yield to unbelievable minus 1%, and unstoppable growth of ETF reserves did their work. Meanwhile, gold bugs grew much older: according to JP Morgan’s research, the precious metal is usually bought by aged investors, while young traders prefer Bitcoin or high-tech stocks.
Many may find it surprising that gold is growing amidst the rally of US stock indexes. That often happens during recessions, though: enormous volumes of central banks’ cheap liquidity allow investors to build up long positions in risky and reliable assets. What’s more, the market prefers precious metals when it’s unsure about GDP’s recovery.

S&P 500’s and gold’s evolutions

Source: Trading Economics
Even if gold climbed high, there are still a lot of bullish forecasts: Goldman Sachs believes that the prices may go up to $2300 per ounce because investors are looking for a new reserve currency; RBC Capital Markets projects a level of $3,000.
XAU/USD bulls may have succeeded because the recession didn’t follow the 2007-2009 scenario. Then, the Fed’s monetary stimuli were enough for getting the economy back to the trend; now, it’s unclear. Then, the USD was growing as the US GDP’s recovery rate was faster than its global peers’ one; now, it’s falling amidst the economic divergence of growth. Then, the idea that inflation would speed up amidst increased money supply failed; now, it’s still alive. The difference between then and now allows us to say that gold hasn’t stop rallying yet.
The best scenario for gold would be a W-shape recovery of the US economy. It implies extending monetary and fiscal stimuli, further weakening the USD, and a drop in real US bond yields. However, a V-shape recovery of GDP will allow XAU/USD quotes to grow too. A long-term downtrend of the USD index is doubtless. At the same time, the Fed makes it clear that it’s ready to tolerate high inflation, which will raise the bond market rates.

Gold and expected inflation dynamics

Source: Wall Street Journal
The second coronavirus wave in Europe is the main factor in the development of the bullish scenario for gold. Under this scenario, the euro will fall, the USD index will grow and will probably continue growing as the divergence of economic growth will benefit the USA. That scenario is unlikely to happen. So, hold your long positions formed at $1820-1825 per ounce and build them up during retracements. XAU/USD may correct on the Congress’s approval of a new fiscal relief package and strong stats on the US labor market.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/forecast-for-xauusd-gold-churns-out-records/ ?uid=285861726&cid=79634
submitted by Maxvelgus to Finance_analytics [link] [comments]

What would happen if sovereign governments gave bitcoin a gold peg?

This is a totally theoretical post, but I believe it is a really interesting idea and would love to get the Internet's feedback on it, and what you think the ripple effects would be in the scenario described. Am very interested in writing this up and republishing it widely so it can be read by monetary policymakers in all major developed countries - if you know anyone like that, pass it on. In a move that would act like a bridge to a pre-Bretton Woods type of gold peg, (here is a great paper on a history of this in the US: https://fas.org/sgp/crs/misc/R41887.pdf) sovereign governments with gold holdings could (again, it is a theoretical idea - I am saying they COULD do this NOT that anyone or any country is doing this that I know of) establish open market operations to purchase bitcoins (partly as a diversification strategy) using their physical gold holdings at a fixed peg rate of 5 ounces per bitcoin. The reason I say 5 is because the current chart here seems to suggest that somewhat of a convergence to 5 oz is already occurring: https://www.xe.com/currencycharts/?from=XBT&to=XAU&view=10Y
If any government did this and offered to buy physically delivered bitcoins from private holders of bitcoin (no other coins just BTC) in exchange for private delivery of physical gold, then the standard governmental unit of physical gold (held in places like Fort Knox) - known as the Good Delivery Bar which is 400oz of gold - could be procured by any holder of 80 or more coins in a secure and sanctioned exchange with the government in question - the most impactful of course would be if the US did this.
My theory is that any time the exchange rate mechanisms in the forex or crypto markets violated the peg, there would be arbitrage opportunities that would bring the peg back in line. It would not only stabilize BTC, but the stabilization might spread via the 24/7 exchange rate mechanism in the crypto market to stabilize many cryptos that are still somewhat worthy experimental stores of value. Depending on the strength, credit, and depth of gold holdings of whatever governments engaged in this, it would seem that such a strategy could transform bitcoin into a new type of sound money, and also signal that owning bitcoin and gold is a priority of governments as well as their citizens. The gold standard was powerful both because it was tethered to something of limited quantity in the earth's crust with unique properties, but also because pre-Bretton Woods gold standards acted very much like a peg - and the government honored the peg no matter what. So in some sense it was still the "faith and credit of the government" that made that peg work so famously. I was partly inspired by this recent award-winning documentary www.inmoneywetrust.org in formulating this idea, and partly by my own academic interest in cryptocurrency. I believe bitcoin, above all others, because of its deflationary nature and algorithmically fixed quantity, is powerful all in itself - but with a peg from a real government to a real precious metal that many governments do in fact hoard (for whatever reason) - it could become both an international currency, and a form of truly sound money backed by governments' physical gold reserves and a legal or policy commitment to a peg of 5 ounces to 1 bitcoin.
What do you all think would happen if a major government or many major governments did this? Remember the idea is to convince monetary policymakers in governments to willingly and openly bypass completely the fiat currencies of their governments and to make no informational commitment to those free-floating fiat markets for forex - so the bitcoins transacted for in the peg wouldn't be bought with dollars or yen or anything that could be printed by fiat. This would simply be a convertibility guarantee by major governments that 1 bitcoin, transferred to the Treasury by a private citizen or business (again so the Treasury could diversify holdings of sound money), would be convertible and be guaranteed to be convertible to 5 oz of physical, deliverable gold bullion (or 80 bitcoins per bar). Here is a list of the largest physical gold holders on earth who could theoretically engage in this type of operation: https://www.investopedia.com/ask/answers/040715/what-countries-have-largest-gold-reserves.asp
Thanks Reddit! Looking forward to your thoughts!
Alex Kaufman
submitted by emersonian85 to Bitcoin [link] [comments]

(New to Forex) How does anyone make money from only profiting by about a 3rd of a cent?

For my entire trading career I've used crypto currency and never really looked into Forex. I only very recently looked into it and saw a video that went through one trade and in summary, it was like this:
"I have a $100 account trading XAU/USD"
"I just made around a 50 pip profit. Now my account is ~$650"
I'm aware that this is gold but it is still very similar to Forex (I think, at least). By what I saw, the person trading only made about $1. So how did their account go up by $550?
submitted by Koi19_ to Forex [link] [comments]

Forex market update on March 30


To start the week, let’s throw a quick glance on the market disposition this Monday.
Forex

No big movement so far, with USD and JPY being moderately strong against their counterparts. In general, the overall mood of the market is very cautious. Very possibly, currency investors are not yet sure how to interpret Donald Trump’s recent stepping back from his previous call to resume normal activity by Easter. Now, the virus state is extended until April 30 in the US. So the audience is watching for more fundamentals on the USD to factor it into this week’s movements.

USD/JPY: support 107.00, resistance 108.50

Gold

The precious metal has lost its momentum for the upside. Currently, it trades at $1,615 per ounce and is likely to continue the consolidation at this level. As there is no certainty on the market about the nearest perspectives, and the positivity is hardly outweighing the pessimism of what’s going on, so is the gold – hanging there at the ranges of $1,610-1,620.

XAU/USD: support $1,600, resistance $1,645

Oil

The oil market is now in a “prepare for the ride” state. Most media reiterate the truth that Donald Trump lost the opportunity to lead the global oil market anywhere, and even if he wanted it now, it is too late. Saudi Arabia and Russia show no more sympathy to each other nor any more concern by the global consequences of the oil price war. These last days of March will end the current period of output limitations following the December agreements of the OPEC+, now obsolete. Hence, Wednesday will be the first day of the truly free oil market. Probably, that is going to be an example that freedom without limitations is no good for anyone. In the meantime, the oil price is at decade-long bottom levels.

WTI: support $20, resistance $28
submitted by NickSmithFBs to u/NickSmithFBs [link] [comments]

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