May 23, 2011

Double your $10,000 Before 2011 Ends Trading Gold Online - For Dummies!

Double your $10,000 Before 2011 Ends Trading Gold Online - For Dummies!

Please read: Red Dragon's Secret to understand why does the gold price's soar in the last 7 years. And it is likely to breach the $1,600 level before the end of 2011.

After we know, that there is a global plan to dump the U.S Dollar as the world reserve currency we sure also need to know where to put our money.

This is the step by step guide on how to earn money trading Gold online. Please consult with your trusted financial advisor and read my disclaimer. You are a real dummy if you follow every words you read here : )

Here are the Steps:
  • Open a live trading account on your chosen Forex Broker. Yes, we can trade online gold through forex broker. The symbol for gold is XAU/USD derived from Aurum, latin word for gold.
  • Deposit US$10,000. Leverage 1:100
  • Open 1 Lot Long (Buy) Trade of XAU/USD's Standard Contract Size (100 Troy Ounce/ Lot) if the price of XAU/USD is in an upward move above $1,500. Remember our target is $1,600.00 (please study the chart I provided)

Put it on example:

This is a very simple way trading gold online will benefit you with the concept of leverage.
With a 1:100 leverage, you can buy a contract of 100 troy ounce Gold ($150,000) with only $1,000 (margin required). But, if the price of Gold really hit $1,600/ troy ounce - you will get the profit of US$ 10,000

Because the transaction forex broker offered is derivative instrument, you will:

  • NEVER get the 100 troy ounce of physical gold.
  • Get only the difference between SELL price and BUY price.
  • Suffer a direct loss to your equity when the price of gold falls (if you are already enter BUY position)

Now, the ugly truth:
  • Always prepare for a Loss. If you have a 'Long' position, your account will suffer for every tick drop against your order.
  • To predict the market accurately is impossible. Period!
  • The broker is against you. When you win, they loose. Like it or not! 
  • For every single day you keep your position open, there's a fee.
  • You may loose more than what you started with. You may even loose something beyond money.

If you never heard about forex online trading before, you may not be familiar with the example above. Therefore I suggest you to learn about it on the net. There are literally thousands of websites offering free online training.

You may choose from my list:

Trading only suit for those people who are used to make their own decision.
Remember, Keep trading simple!
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About ArrowFX

Technically analyze the forex market mainly on USDJPY, EURUSD and GBPUSD by using market rhythm method started by Philip Nel on Forex Factory. The thread started on 2007 and still alive.
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