Learn Basics of Trading Strategies
For traders wanting to use trading strategies to trade the market there are a few other basics that a trader should know that will help to make the strategy being used become more successful.
After one has learned about technical analysis of indicators & the analysis of charts, a trader will need to come up with a 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 Strategy |
RSI Strategy Method Bollinger Bands Strategy Method |
Bollinger Bands Strategy Method Stochastic 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 one has come up with their strategy, they should also include the following to make their strategy more successful.
1.Gold Equity Management Tutorials
2.XAUUSD Psychology
Gold Equity Management Guide-lines
Xauusd money management guide-lines should be part of your strategy - these trading rules will help you as a trader to manage risk. This means that you'll use two rules of xauusd money management - these are risk reward ratio & drawdown reducing method when placing your trades so as to determine the lot size that you'll put in the market. The most popular equity management rule use in xauusd & the one that you should also add to your trading is the rule that says that a trader should never risk more than 2 % of their account equity on any one single trade.
To learn about these two 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 tutorials.
XAUUSD Psychology Mindset
In order for one to become successful when trading the market a 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 & their strategy and only trade with signals which are generated by their strategy. With discipline one will not trade unless their system gives a trading signal. A trader will have the mindset of only following their system 100 % all the time without second guessing the system. A disciplined trader will also not place trades in market just because the market has started to move up or downward, instead a trader will wait for a trade signal to be generated by their 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 tutorials.
