The Symbol for Spot Gold (xauusd)
XAU Focus
The code for ounces in currency is XAU and ounces are the quantity of gold you posse's based on the percentage of pure gold you are weighing. I may argue that it would be pointless calculating the value of your gold with a ruler.
Gold has been deemed a "safe" asset to store value when market's become highly unprofitable and vilitile from my extensive research I have found that a substantial percentage of individuals to be specific individuals on YouTube that trade in gold recommend being focused on one pair mastering it understanding it's biology and origin, movement and destination in the shorter term for a profitable opportunity in the industry of our economy.
I have decided to take up this challenge.
"The largest influencers on gold’s spot price fluctuations today comes from the COMEX in the United States. For now the COMEX division of the New York Mercantile Exchange is still the most significant futures contract trading market for gold and consequently it has the most influence on gold’s fluctuating worldwide fiat currency spot price. One could make a case that the COMEX’s current influence on gold’s spot price is ultimately a gold derivative hologram and not truly based on market fundamentals."
Source: https://bit.ly/3k4VHnR
So I am planning on paper trading for the next three months learning what I can by staying disciplined and deticated to this single pair. I hope this will be something you would like to read about and probably try to understand with me I am sponsored by FBS to join me follow this link below set up your trading account for free today and let's learn to make money while we quarantine.
https://fbs.com/?ppu=15591230
COMEX is the primary futures and options market for trading metals such as gold, silver, copper, and aluminum. Formerly known as the Commodity Exchange Inc., COMEX merged with the New York Mercantile Exchange (NYMEX) in 1994 and became the division responsible for metals trading.
Mentions:
@lisbettvcc
@fth
@udibekwe
@andruha1993
@kakilasak
@dianadee
@josertalaverag
@seo-boss
@kryptodenno
@dobartim
@panosdata
@ayeshagul
@mister-omorson
@karykethy
@xpilar
@mukada
Hi @ raquelsiso1
I wish you many successes in the plans you have planned in your apprenticeship in the next three months and may God give you wisdom in everything that is proposed.
I thank you for your insight well we are trying but they say you have to judge not by the first trade you take but the overall results at for example end of the trading month see results first trade...
We have encountered a Los any advice you can give a student...?
@ clarvin Very well, I will consider that proposal later depending on the investment to be made.
Free No deposit required we can do paper trading for practice discipline before starting any investing just to try the water we use a demo account that requires no fees...
So I did some more work on gold today had some green but see I was trying out something and went red as I was not monitoring the charts anyway I got green on 1m with $5.00 lot sizing on a 1:500 leverage account that means 100 equals = 1 USD there is cent account ounce you feel pro enough minimum deposit is 1 USD and you get 100% bonus which double the strength of your deposit...
Check out my sculps:
I will try to minimize the red as I feel I have a little bit of an idea now...