Gold is trading at the lowest of this year. The last close price of the gold is on 6th March was $1287.69 which is -2.39% down over the year.
Even though gold has been performing weak after the year 2000 and it hasn’t gained the same price, it is still considered a good investment and a hedge against inflation. Even nowadays gold investment is the most attractive segment of commodity trading.
Trading in gold is not the same as trading in the stock. You see, gold is the commodity, a metal, it is not a company. Stocks and bond are regulated by a completely independent body in every country plus they are also controlled by companies. But the gold market is an unregulated commodity and being a global commodity it is controlled by economic and financial situation in the domestic and global level.
The successful gold traders understand the crucial behavior of the bullion trading and they know how to discriminate between wrong and the right information from an ample amount of gold tips and trading advice available in the market.
We, the MMF Solutions did some research and collected information and gold trading advice from the successful gold trader. Some of these advise are from the expert analyst of the gold market that can help you to trade gold more profitably in 2019.
First, I want to say that gold trading is not for everyone. Yes, that’s right. As running a marathon and sprint, both require certain types of skills to get in first place but both the skills are different. Similarly goes for bullion trading. You have to ask yourself whether gold trading is for you or not and if yes, then which trading style is for you, Day trading or swing trading. Be clear with your talent, your risk tolerance, and your temperament before indulging in gold trading.
With an analyst report, it has been shown that to trade gold over 400% are engaged in day trading.
Second, Every successful gold trader has a methodology to follow in gold trading. The methodology should be objective and consistent. You can’t run wildly when your money is on the rim of risk. A methodology or strategy keep you focused and helps you to make a money-smart decision. Your bullion trading strategy should also include when to entry, exit and stop out during a trading decision. Adhere to these predefined points consistently or you will face major loss for minor mistakes.
Third, Gold trading doesn’t understand emotions. When an investor or gold trader puts his money on risk can not think emotionally. A gold trading decision with emotions can be devastating. This is one of those things that successful gold trader have control on.
Fourth, is the important one that every successful trader follows is position sizing. There are many investors and gold trader who don’t consider this and blow up their account. There is no option of “can’t lose” the trade. Investor or trader who consider this, decide to put a notable amount of capital in the trade.
Therefore, a gold trader should always limit every position and use stop loss and target price gold signal to minimize the losses.
Fifth, to have the right source and authentic information for gold market updates. There are lots of information available on the internet and it is tough to discriminate the good information from the bad one. The gold market is dynamic no one can decide the trend of gold price by analyzing the 10-20 year performance of gold.
“Read the information for comprehension, not for confirmation of your belief.”
What to expect from gold market 2019?
Analyst in gold advising gold trader and investor to not to expect skyrocket price of the gold price for 2019. There are a lot of political and financial uncertainties are going on, if they hit home then you can expect the rise in gold price.
Own the gold & silver as catastrophic insurance and for long-term and short investment.
What are the major factors that can affect gold trading in 2019?
The major factor is always exogenous in the case of gold. It is a macroeconomic trend, therefore, international politics, domestic politics, the financial market can affect the price of gold. Therefore investors and gold trader are advised to have a watchful eye on every important news in domestic and international level.
Gold trading is always considered a safe investment. But there is no specific key that will make a gold trader a successful one. There are certain aspects of gold trading/investing which people can follow and focus to improve their chances to succeed in gold trading. If you follow the above ideas on gold trading which are followed by the most successful trader and ponder upon them and practice them, it can improve your chances over success in Bullion trading.
Gold is an attractive investment in 2019 but you will need the right source of information. Won’t you? Get the latest FGLD signal with the target and stop loss and updated gold market news from us.