How to Start Gold Trading in 5 Steps
New to gold trading? Follow this 5-step plan: open a broker account, learn XAUUSD, practice on demo, place your first trade, and manage risk.
After a decade of trading gold at my desk in Singapore, this is the method that survived every market condition.
Key Takeaways
- ◆Your broker is the gateway to the market. Focus on these criteria:
- ◆The process is straightforward:
- ◆Spend at least 2 weeks practicing:
- ◆Set a stop loss at 1-2% of your account
- ◆Log every trade with screenshots
Choose a Regulated Broker
Your broker is the most important decision. Look for regulation (FCA, ASIC, CySEC), tight gold spreads, fast execution, and a low minimum deposit.
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