TIPS: MAXIMIZING PROFITS OF XAUUSD Trading SYSTEMS
1. Define Simple XAUUSD Rules and Follow the Trend
The simpler the xauusd system is the better. If the xauusd system is too complicated, it will be very difficult to stick to the xauusd rules. Complicated xauusd systems are also very confusing. A simple xauusd system makes it easy to follow the trading rules.
2. Eliminate Risk Quickly and Let Profits Run
Minimizing risk is far more important than making money. Our first objective in xauusd is to make the trade less risky. We do this by entering only trade setups, setting stop losses, cutting losses quick and never average down, and letting the profitable trades run for a while, just long enough but not too long so as increase the profits. Profitable gold trades are only kept open as long as the xauusd system shows the xauusd trend is in place, these transactions should be closed immediately once your exit signal criteria is generated by the xauusd system.
3. Choose the Right XAUUSD Trading instruments
Once you have your xauusd system, you will want to start testing it on a demo xauusd account. A xauusd system will give different results for each xauusd.
To maximize the profitability of your xauusd system find the most active xauusd market hours for a chosen gold and trade during that market session only.
4. Use Gold Money Management Guidelines
Always risk less than 2% per xauusd trade transaction. With compounding, you will be surprised to see how quickly your xauusd trading account grows once you start to trade with a profitable xauusd system.
5. Keep a XAUUSD Journal
Keeping a log of all your gold trades will help you to become a better and better and will help you follow the trading rules of your xauusd system. A xauusd journal will also keep track of your profitable gold trades and losses and you can analyze why a trade setup was profitable and why it was not.
6. Set take Profit Targets
Establish a daily, weekly or monthly profit targets when trading the gold market. Once you hit this target. This will stop you from over-trading and will also stop you giving back your profits the gold market. Keep your reward to risk ratio high, a 3:1 reward to risk ratio is best. This means opening xauusd trade transactions only when you have the probability of making three times what you are risking.
Example of signals generated by our xauusd trading system
Example 1: Buy XAUUSD Signal and Sell XAUUSD Signal Generated By XAUUSD System
Buy signal is generated by the indicator based xauusd system, then an exit signal is generated before another reverse sell xauusd signal is generated on this xauusd chart
Example 2: Two buy xauusd signals generated by XAUUSD System
Two buy xauusd signals are generated during the upward xauusd trending market
Example 3: Exit Signal Generated by XAUUSD System
Examples of XAUUSD Trade Signals Generated by a XAUUSD System
Other Tips
Learn XAUUSD Trading Education
The first tip is to learn about the Gold Market (Learn XAUUSD Trading Lessons), those who don't learn the required xauusd knowledge from the various xauusd tutorials online will not improve their xauusd results no matter how many tips they have read. By not learning xauusd, these xauusd traders will keep making the obvious mistakes made by xauusd beginners without even realizing what they are doing, XAUUSD Trading is a wide topic and in order to make profits a xauusd trader will have to learn xauusd first.
Get a XAUUSD System
A gold trading system is a must for every xauusd trader, a xauusd system is used to determine what xauusd decision to take. A xauusd system gives a xauusd trader an edge over others who don't have a xauusd plan. A good xauusd plan is one that is back-tested and proven to produce profitable gold trades. After coming up with your xauusd system you should back-test it on a Demo XAUUSD Account.
Learn XAUUSD Money Management
Learn about The Various Gold Money Management Lessons, don't attempt to trade the online xauusd market if you do not have xauusd money management rules. The 2 xauusd management lesson that you must learn are:
What is XAUUSD Money Management
Learn about Gold Leverage and Margin
If you don't know what is xauusd leverage and how it works and how it can affect your xauusd margin, then you will not make any money in the xauusd market and you will lose your money in the gold market.
Have a Written XAUUSD Plan
A xauusd plan will take into account all the above xauusd tips and summarize them within one document that you can use to trade the online gold market.
In General
The first goal should be taking your time to really determine what your xauusd goals are and how much money you wish to make. Once this is determined then the following three suggestions will help you on your way to start XAUUSD. It is essential to keep all the three goals in mind when executing all of your xauusd trade transactions but at the same time this is not a black and white guide to xauusd success.
The first thing is to remember that you really need to work with short term gold trades until you become profitable and know how to properly monitor these xauusd trade transactions. You should trade xauusd short term because this way you can monitor your xauusd positions and quickly close any xauusd position whose trading signal setup reverses. In order to truly benefit from the xauusd system you have to be willing to take up the effort to watch the xauusd market to see exactly how long you can keep your money invested in the online gold market. Making short-term xauusd investments will help you to monitor your gold trades and control all the risks, do not leave xauusd orders open when you are away from your computer or when you are going to sleep, close all xauusd trade transactions and only open xauusd orders when you can monitor them.
Although it is very important to increase the amount of gold trades that you are investing each time that you trade - some xauusd guidelines should to be followed. The general rule of xauusd tends to be never to trade more than two percent of your total xauusd account equity. This of course makes sense when you have a lot of money in your xauusd account but what if you only have a couple of hundreds. Two percent of $10,000 equals out to be $200. Even though it is safer to follow this rule it really does not make a lot of economic sense with smaller xauusd accounts. If you are investing on XAUUSD Trading this is when xauusd leverage kicks in to effect and makes all of the difference. In General the more xauusd capital you have to invest the better in terms of xauusd money management.
The final suggestion is taking a bit of time to make sure that you get all of your xauusd details correct before opening any one trade transaction, this will be the best method. Keep it simple makes just as much sense in xauusd market than anywhere else. Although this may require more time and effort to build up your xauusd profits it will save you money in the long term.
Trying to keep your thinking as clear as possible will make your xauusd journey easier but knowing when to break from the norm is also important. Moving towards the right path will make success that much more easier to obtain and by learning all of the steps and logic you will be able to continue making profits. XAUUSD Trading is not hard to learn but a lot of traders lose money quickly because of not taking the proper steps in preparation and learning.
