How to Profit From Our Gold Signals?
Gold is among the most popular commodities and metals to trade as it is considered a safe haven that traders and investors turn to in times of heightened uncertainty in global financial markets. Gold, or the yellow metal, offers significant volatility driven by the release of key economic data from leading economies, geopolitical developments around the world, and even significant news that can impact the global economy at large. As lucrative as gold trading can be, it is safer to depend on daily signals for XAU/USD to give you an idea of which direction prices are headed in and what’s driving moves in the market. This is because gold prices can change due to several factors, and while the high volatility offers ample trading opportunities, it can also lead to losses if you place uninformed trades. Gold trading signals from reputed signal providers are useful tools to help you place profitable trades in this leading commodity. Learn more about how to trade a bullish trend in the gold market.
Using FX Leaders’ Signals Portal for Gold Trading
Trading the markets can be really tricky, especially if you’re new to the game. The great thing about using our forex, equity index, cryptocurrency, and commodity signals, is that you don’t need to do the hardcore analysis yourself.
We have a team of seasoned traders who constantly scan the markets for good signal trading opportunities. These traders are exceptional analysts with years of trading experience and abundant empirical knowledge of the markets. You can easily utilize our profitable trading signals which have made thousands of pips during the last couple of years! To take your share of the profits, simply follow these steps:
See FX Leaders’ forex signals terminal, here. This is what the terminal looks like:
The forex signals terminal contains all the trading signals that are active or might become active soon. In the terminal, you may find forex, commodity, cryptocurrency, and stock index signals.
In the terminal you’ll see all the necessary information like the particular instrument (e.g. gold), status (‘Get Ready’ or ‘Active’), the entry price, stop loss, and take profit.
When the status flashes “Active” (just below the instrument’s symbol) the gold signal is ready to be copied to your personal trading account.
You can open the trade at the market price with a pre-set stop loss and take profit according to the parameters of the signal. It’s always safer to at least set your stop loss before opening the trade, just in case a sharp market move suddenly moves against your trade before you can place your stop loss order.
Once the trade is open it will generally be closed automatically when the price reaches either the stop loss or the take profit.
In certain circumstances, our analysts may close the position manually, in which case the following comment will appear just below the green box in which the entry price is printed: “The signal was closed manually at xxx price”. Take profit and stop loss parameters may also be adjusted by the FX Leaders analysts, in which case the adjustments will be published in the same space. Other comments may also appear in this space, for example, “Signal closed at Take Profit”. See the screenshot below:
When the status flashes “Get Ready” our analysts are looking at a particular trade setup and are about to open a live gold trading signal.
This message gives you time to open up your gold chart and order entry box while the analysts are going through their final checks.
If you would like to be notified as soon as a trading signal appears in the signal terminal, you can subscribe to our premium signals service.
This will ensure that you never miss a winning trade. Notifications are sent to your mobile phone and via email. You will also get an audio cue on your computer to warn you of the trading opportunity.
Using FX Leaders’ Gold Signals Responsibly
There are a few basic trading principles you need to apply when using our free gold signals.
How to Manage Your Money Responsibly When Trading Gold?
One of the most important aspects of trading is good money management. Poor money management can expose your trading account to catastrophic losses, even if you use an excellent trading strategy, or follow our top-class trading signals.
Firstly, you need to limit the amount of money you risk per trade. A good principle is to risk less than 2% of your account’s equity per trade. If you’re a conservative trader, I would recommend 1% or less. This will ensure that a large losing streak has an exceptionally small chance of ruining your account.
Something else to keep in mind is that you should be careful not to have too much exposure from open trades running simultaneously. For example, if you have 10 trades running at the same time, and each trade is risking 2% of your equity, you’re risking way too much of your account on those trades.
That doesn’t mean you can’t have 10 (or more) trades running at the same time. If some of your trades have been brought to break even or you’ve locked in some gains by moving your stop loss in your favor, you can easily run more than 10 trades and still have less than 3% exposure in total, for example.
How to Handle Occasional Losses in Gold Trading?
Any profitable trading system or signal service encounters losses from time to time and sometimes we can experience a couple of consecutive losses.
Trading the markets is a mental and emotional challenge and losses tend to have a greater effect on human psychology than gains.
You need to be mentally prepared to handle occasional losses while following our forex gold signals. The markets often behave irrationally and can be really unpredictable at times.
We have a really good track record of consistent profitability, though. All you need to do is to follow our signals with persistence and patience and not allow yourself to become distracted by the inevitable losses you’ll encounter from time to time.
If you patiently execute our signals and implement sound money management, you’ll reap the rewards of our persistence, patience, and hard work.
How Can You Learn to Trade Gold Safely?
Lastly, if you’re new to trading and not familiar with how to execute and manage live trades, I recommend experimenting on a demo account first. Here you can practice how to set up and manage our powerful trading signals without risking your hard-earned money.
All of our recommended brokers offer top-quality demo accounts which can be opened in no time.
Then, as soon as you’ve familiarized yourself with your new trading platform and how to execute live trades, you’ll be ready to profit from our trading signals which of course, includes our incredible free gold trading signals.
Learn how to use FX Leader’s forex signals and how to make the most of forex signals.
See you in our forex signals terminal!