Introduction To Learn XAUUSD
As a xauusd introduction this learn xauusd tutorial and this learn xauusd website in general is designed in an easy and well organized learn xauusd format to facilitate and make it easy for beginner traders and those who want learn xauusd to do so in a manner that will make it easy for them to understand the concepts explained and come up with their own xauusd strategies that are effective when it come to the trading market.
This learn xauusd tutorial will try to cover an introduction to the market and traders can read through this learn xauusd tutorial course to get a basic idea of how to go about the trading market. Traders can also navigate to the learn xauusd lessons section to get a list of the learn xauusd tutorials that are covered on this learn xauusd website.
The following xauusd information shows the various xauusd topics that are covered on this learn xauusd trading website on the learning section.
Introduction to XAUUSD
These learn xauusd trading topics covers introduction to market by covering a definition of the market basics that traders need to know before starting out in xauusd.
In this learn xauusd topic the a trader will the learn the basic xauusd terms used in the market, xauusd terms such as xauusd, price quotes, xauusd lots, pips, spreads, margin, xauusd long position, xauusd short position, platforms and charts.
XAUUSD Strategies
In traders must create a xauusd strategy to trade with. A strategy is a method or a xauusd system that has written xauusd rules set out that the trader will use when trading the trading market. The rules will specify when a trader will open a trade, when a trader will close a trade & how much profit a trader wants to make from each xauusd trade & at what point they will close their trade if the trade moves in opposite direction.
Traders can find a list of the popular strategies on the strategies section of this learn xauusd website.
Technical Analysis
These learn technical analysis topics explain to traders the various xauusd methods used to analyze market move using indicators & technical analysis studies.
For example some of the popular technical analysis studies in xauusd are:
Support & Resistance Levels - Technical Analysis
Some traders also refer to these support & resistance levels as support and resistance lines. The xauusd concepts of support and resistance levels refers to price zones where it's difficult for the price break through and move beyond these price areas.
At these levels traders are likely to perceive the price of the gold as being cheap or as being expensive.
Support Level
Support level prevents the price of an asset from getting pushed downward. Support areas are therefore regarded as the floor because these price levels stop the market from moving prices downwards past a certain point.
Resistance Level
Resistance level prevents the price of an asset from getting pushed upwards. Resistance levels are hence regarded as a ceiling because these price levels stop the market from moving prices up-ward.
Trend Lines - Technical Analysis
Trend-Lines are used to determine the general direction of the market.
Sometimes support & resistances on the price chart are formed diagonally in a similar way like a staircase. This forms a trend, a trend is a sustained movement in one direction either upward or down-ward.
A trend line depicts these points of support and resistance for the price.
Xauusd trendline is an aspect of technical analysis that uses xauusd line studies to try and predict where price will move next.
A trend line is a straight diagonal slanting line that connects two or more price points and then extends into the future to act as line of support or resistance.
Xauusd trend lines are based upon the idea that markets move in trends. Trend lines are used to show 3 things.
- The general direction of price movement up or down.
- The strength of prevailing price movement and
- Where future support and resistance of the xauusd current price movement are likely to be located at.
If a trendline forms in a certain direction then price usually moves in that direction for a period of time until a time when the trend line breaks-out.
Upward trend line - If price of a chart is moving up then a trendline is formed that is also moving up. This xauusd line is called an upward trend line.
Downward trend line - If price of a chart is moving down then a xauusd line is formed that also moves down. This xauusd line is called a downwards trend-line.
MAs Technical Indicator - Technical Analysis
Moving averages indicators are also used in xauusd to determine the general trend direction of market. MAs is a trend following indicators that is used to show the direction of the market.
Most common xauusd method of determine the direction of the trend is by using two moving averages to form the MA crossover system. The MA cross-over system is covered in our strategies section. The MA cross-over system is made up of two moving averages one with a lower period and the other with a higher period, for example one may use the 5 period moving average & the 7 period moving average, when price is moving up the two MAs will also be moving up & when prices are moving down the two MAs will also be moving down. Traders can also identify when a trend changes its direction because the two xauusd moving averages will cross over each other once there is a change in the direction of the price movement. This xauusd crossover signal is used by traders to determine when to open a new trade after the crossover signal has been generated and the two xauusd moving averages starts to move in the same direction. This crossover signal is also used to determine when to close a trade and take profit after there is a xauusd crossover signal in the opposite trend direction.
Choosing a Broker
Traders will need to know how to choose a good broker. The first thing to look for is xauusd regulation; a trader should research and determine if a broker is regulated before deciding to open a account with the broker.
Opening a Demo Account
Traders should open a practice account commonly known as a demo account and use this demo account to practice xauusd for a period of one or two months. Traders will use the demo trading account as they learn gold concepts & strategies. Traders can test their strategies on this demo account before deciding if the strategy they are using is profitable enough to trade with it on a real account.
Open a Live Account
After traders have completed learning xauusd and have come up with a profitable strategy they should then open a live xauusd with their broker & begin investing and trading the trading market. To open a real account a trader will have to fill some paperwork after which they can then log in to their account & begin placing trades in the online market through their broker.
XAUUSD Tips
Come up with a written xauusd plan that will be a summary of all that you have learnt in xauusd and this xauusd plan will specify when you will open a trade, when you will close a trade, the money management rules that you will use when opening trades and also it will set out a list of the xauusd goals that you want to accomplish when it comes to xauusd. A trader can get an example plan template from the learn xauusd lessons section of this website in the key concepts topics.
Learn xauusd money management rules is also another good tip - money management rules are also explained in the learn xauusd section of this learn xauusd website in the key concepts topics. XAUUSD money management rules will help a trader to learn the best methods to follow when it comes to managing their account balance. For example a trader can learn that xauusd money management specifies that a trader should not risk more than 2% of their capital on any one single trade.
