Learn Basics of Strategies

For traders wanting to use trading strategies to trade the market there are a few other basics that a xauusd/gold trader should know that will help to make the strategy being used become more successful.

After one has learned about trading analysis of indicators & the analysis of charts, a gold trader will need to create a trading strategy. The strategy that a beginner uses can be based on the following most oftenly used trade strategies in XAUUSD.

MA XAUUSD Strategy Method

MA Strategy Method

MACD XAUUSD Strategy Method

MACD Strategy Method

RSI Trade Strategy

RSI Strategy Method

Bollinger Band Strategy Method

Bollinger Band Method

Stochastic Indicator Trading Strategy Method

Stochastic Strategy Method

A trader can learn about the basics of how to create a strategy by learning from the above example strategies.

Once a trader has develop their trading strategy, they should also include the following to make their strategy more successful.

1.Gold Equity Management Tutorials and Lessons

2. XAUUSDXAU/USD Psychology

Gold Funds Management Guide-lines

Xauusd money management guide-lines should be part of your strategy - these trading rules will help you as a trader as a trader to manage risk. This means that you'll use two rules of gold money management - these are risk:reward ratio and drawdown reducing method when placing your trade positions so as to determine the lot size that you'll put in the market. Most popular equity management rule use in gold & the one that you should also add to your trading is the rule that says that a xauusd/gold trader should never risk more than 2 % of their equity on any 1 single trade transaction.

To learn about these 2 xauusd money management guide-lines traders should read the money management lesson that's on the learn guides section of this site under the key concepts guides.

XAUUSD Psychology Mindset

In order for one to become successful when trading the market a gold trader has to learn about psychology. The psychology or mindset that's required to become successful in xauusd is one that avoids the emotions of fear and greed while trading & is a mindset of total discipline that the trader will follow all their trading rules and their strategy and only trade with signals which are generated by their strategy. With discipline one will not trade unless their system gives a signal. One will have the mindset of only following their trade system 100 % all the time without second guessing the trade system. A disciplined trader will also not place and open trades in market just because the market has started to move up or downward, instead a xauusd/gold trader will wait for a trade signal to be derived and generated by their trading strategy.

In order to learn more about psychology and how to manage emotions while trading the market a trader can read the psychology guides from the learn guides section of this site under the key concepts guides.

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