Tips for frying gold :
- Demo account learning to make orders
Novice investors who are just starting to speculate in spot gold , do not rush to open a real account to deposit money and make orders. You must have enough patience and proceed step by step. You should apply for a free demo account first, and first simulate the operation process and order making skills. Summarize your experience while simulating, and record your daily gains and losses. If you can independently formulate a strategy for placing orders in the demo account, and the daily or monthly profit probability increases or gradually increases, then you can open a real warehouse account and invest a small amount of funds to operate, which will greatly improve The odds of making your own money.
- Strict stop-loss and take-profit risk control
Whether you are a novice in financial investment or a senior investor, you must establish the range that you can tolerate losses and set a stop loss. When the market fluctuates greatly, the amount of loss reaches the range you can tolerate losses, and you can immediately close the position. In order to avoid huge losses in the account, it is recommended to make orders at ordinary times, regardless of whether the market fluctuates or not, it is best to set the loss range to 3-10% of the total account.
- Do not make orders too frequently
When making investment transactions, you should not make so little money for small fluctuations. If you make frequent transactions within a week or a day, it is recommended that frequent transactions can be tried occasionally, but cannot be used as a long-term profit model. Because frequent transactions require a handling fee, you basically take back all your lucky profits, even if there is a slight surplus, but this just happens to make you arrogant and even more crazy, and one day you will be exhausted and fall down or Huge loss appearance.
Fourth, take advantage of the trend to make orders
The spot gold market generally fluctuates greatly in the time zone from 3:00 pm to 5:00 pm and from 7:00 pm to 12:00 pm, so it is very important to follow the trend. Novice investors only need to seize a small trend to place an order, and do not lose money because of small losses. Large, it is best not to hold positions overnight.
Five, clear long and short lines
Many investors are generally accustomed to looking at daily charts, weekly charts and short-term operations to make orders. They regard the long-term fluctuation trend of gold prices as short-term operations, and the short-term fluctuations of gold prices as long-term operations, completely ignoring the difference between short-term and long-term trading. This is not correct. If you continue to do this for a long time, the losses will become larger and larger in the future.