Trading Simple dengan Pair Gold
One of the pairs in forex is XAUUSD which is a pair of gold prices and US dollars. Many traders like this pair, for each reason this pair is not too wild. But this pair has a bigger spread than other pairs in almost all brokers.
In gold trading, it is very important for traders to have a good psychological state. This is because gold traders can be faced with trading mistakes. If this trading error is followed by a wrong psychological condition, for example feeling excessively anxious, then a small mistake can result in significant losses. Therefore, to reduce excessive anxiety when trading, this article will discuss some short and interesting tips on how to trade on the XAU/USD pair.
1. Have a Consistent Gold Trading Strategy
The first way to trade gold without worry is to have a consistent gold trading strategy. Traders do not just make a plan and strategy, but also consistently do it. Having a consistent trading plan and method will enable traders to carry out price executions with confidence and without hesitation.
2. Adjust the Psychological Conditions with the Strategy that the Trader Has Set
Make sure that a good psychological condition must also be accompanied by an effective gold trading strategy. This is important to realize worry-free gold trading. There are many gold trading strategies and traders can use them as examples and modify some strategies and adapt these strategies to the personality and current market conditions. Practicing on a demo account is a great way to test the chosen strategy, especially if the trader is interested in becoming a short-term trader.
3. Ready to Profit, and Ready to Loss
It should be noted that in order to be able to trade gold without worry, the next step is to be ready to bear losses. Losses are natural in the market, even big investors experience it. For short-term gold traders, besides having to be ready to experience big profits, they must also be prepared to suffer losses of up to 40 percent in a relatively short time. This is because price volatility in short-term gold trading is easy to change in line with many traders who want to make profits in a very short time.
Prepare and plan your trading, make sure the decisions taken are based on market conditions, not personal mood conditions at that time. There will be days when it is best not to open a position and there will be days when many trading opportunities arise. A trader should try to adapt to such changing situations.
Also pay attention to always choose a strategy or gold trading method that according to the trader fits the trader's character. Always control and maintain emotional stability. Also set the risk/reward ratio and consult with more experienced traders if necessary. Believe in what is being done and enjoy the trading activity of traders.
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