Gold trading is a very lucrative venture.  If and only we trade in the right position. Make no mistake, the higher the reward the higher the risk. Are you a risk taker?

Calculate the risk. Yes, that’s what we are going to do here. Is your MT-5 Trading application ready?  MT5 is the latest application for trading, it is in fact available on all trading websites and platforms. Now you gotta use your login from you selected broker to get in. Broker means the site, remember the one I talked to you about? Yes, that one where you create an account, that is the Broker site, www.XM.com .

Let’s take a look at how to trade. I numbered 3 spots for MT-5 that are beginner ways to understand and kick start your trading. Take a look at the screenshot sample below of MT-5. There are many clickables and tools here but for first timers don’t get yourself overwhelmed. These 3 that I’m going to talk to you about are just the basics of basics.

1.BUY and SELL Option

• The buy and sell option is where the key to turn on the engine of this journey.
• See that number between the SELL and BUY? That is an indicator of how much you are willing to sell or buy. 
• The numbers below are the ones you click when you are ready to buy and sell. Take note that these numbers are actually the price of the commodity or stocks you are about to purchase. In this screenshot the latest SELL price is at 1901.29 and the latest price when you BUY GOLD is at 1901.86 

2. TRADING STATUS

• This is where you can see your balance. The remaining equity.
• You can also check the status here on how much you are gaining or losing in each of the trade decisions you are making.

3. HISTORY

• Is where of course the recorded set of trades you previously made.
• This is a very good place to check and review what had gone wrong with your selected trades likewise with what went well.

Now you are familiar with what and where to click.

Trading market for GOLD as of this moment is closed. So the best thing to do while waiting for it to open is to do analysis on the previous days and weeks. That is what the next article will be about.  

See you then!!!