XE: XAU / USD Currency Chart. Gold Ounce to US Dollar Rates
35% of capital earned in first week of XAU/USD Trading questions
Hello everyone, First and foremost I know next to nothing about FOREX trading so bare with me. My friend has recently just setup an account trading XAU/USD with an algorithm and I've helped invest in a small amount the initial capital of the account. As I don't know much about this all I can really say is that the lot size he is using is the smallest that the program allows, and during our first week we have made 35% of the capital back, we were at over 90% but took a big loss on the final day we were trading this week. My questions are for people trading in this market is earning this amount in a few days then loosing the majority of it typical? Is 35% in a week an unusual amount of earnings for this time frame? Again I hardly know anything about FOREX but from what I've gathered people who are profitable are typically making a very small percentage of they capital per day, whereas we made 24% in one day during our best day. Is it a case of this market is very extreme / risky as far as short term trades go and you can win or loose a lot of money very fast? Im hoping to be able to earn sustainable money from this of course, but am not sure if this is suitable, or if what im saying here even makes sense lol. Cheers.
(New to Forex) How does anyone make money from only profiting by about a 3rd of a cent?
For my entire trading career I've used crypto currency and never really looked into Forex. I only very recently looked into it and saw a video that went through one trade and in summary, it was like this: "I have a $100 account trading XAU/USD" "I just made around a 50 pip profit. Now my account is ~$650" I'm aware that this is gold but it is still very similar to Forex (I think, at least). By what I saw, the person trading only made about $1. So how did their account go up by $550?
To start the week, let’s throw a quick glance on the market disposition this Monday. Forex No big movement so far, with USD and JPY being moderately strong against their counterparts. In general, the overall mood of the market is very cautious. Very possibly, currency investors are not yet sure how to interpret Donald Trump’s recent stepping back from his previous call to resume normal activity by Easter. Now, the virus state is extended until April 30 in the US. So the audience is watching for more fundamentals on the USD to factor it into this week’s movements. USD/JPY: support 107.00, resistance 108.50 Gold The precious metal has lost its momentum for the upside. Currently, it trades at $1,615 per ounce and is likely to continue the consolidation at this level. As there is no certainty on the market about the nearest perspectives, and the positivity is hardly outweighing the pessimism of what’s going on, so is the gold – hanging there at the ranges of $1,610-1,620. XAU/USD: support $1,600, resistance $1,645 Oil The oil market is now in a “prepare for the ride” state. Most media reiterate the truth that Donald Trump lost the opportunity to lead the global oil market anywhere, and even if he wanted it now, it is too late. Saudi Arabia and Russia show no more sympathy to each other nor any more concern by the global consequences of the oil price war. These last days of March will end the current period of output limitations following the December agreements of the OPEC+, now obsolete. Hence, Wednesday will be the first day of the truly free oil market. Probably, that is going to be an example that freedom without limitations is no good for anyone. In the meantime, the oil price is at decade-long bottom levels. WTI: support $20, resistance $28
In response to greater demand and product diversification, gold has begun to trade relative to other currencies as well. Currently, we offer XAU/USD, XAU/EUR, XAU/GBP, XAU/CHF, XAU/AUD. Price drivers. Gold is affected by the overall health of the global economy – this is measured by GDP growth, inflation, employment data and interest rates. XAU/USD, GOLD In the Forex market, gold is a form of currency. The internationally accepted code for gold is XAU which is a symbol used under the ISO 4217 currency standard to denote one troy The Quote Overview page gives you a snapshot view for a specific Forex symbol.During market hours, delayed exchange price information displays (Forex: 10 minute delay, CST.) and new delayed trade updates are updated on the page (as indicated by a "flash"). Get free access to XAUUSD charts, live rates and quotes. Gold Ounce to US Dollar chart will allow to track the exchange rate history of the currency pair for several years. While many Forex brokers now offer the option of trading gold relative to several currencies including the Swiss Franc, the Australian Dollar, and the Euro, it is still most commonly traded relative to the US Dollar, being represented by XAU/USD. Although trading gold may not seem to be very different from trading any other currency pair, this
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