Ultimate Guide to Learning and Trading Gold (XAU/USD)
Stage 1: Foundation (Markets, Technicals, Psychology)
Goal: Understand basic trading concepts, chart reading, and mindset.
What to Learn:
- Forex basics: pips, leverage, lot sizes
- Candlestick patterns
- Support and resistance
- Risk:Reward ratios
- Trading psychology and emotional control
Where to Learn:
- https://www.babypips.com (School of Pipsology)
- YouTube: 'Trading in the Zone by Mark Douglas'
Stage 2: Platforms & Tools Setup
Goal: Practice with trading software and understand how to trade gold.
What to Do:
- Open a demo account on MT4/MT5 with Exness, ICMarkets, or Deriv
- Learn to place trades, adjust lot size, set stop loss and take profit
- Understand spreads, swaps, and gold volatility
Resources:
- YouTube: 'MT4 for beginners'
- Broker sites: https://www.exness.com, https://www.icmarkets.com
Stage 3: Learn Gold (XAU/USD) Fundamentals
Goal: Understand what moves gold prices.
Ultimate Guide to Learning and Trading Gold (XAU/USD)
What to Study:
- Gold vs US Dollar (inverse relationship)
- Impact of inflation, interest rates, and real yields
- Gold as a safe haven during uncertainty
Important Events:
- FOMC meetings, CPI reports, NFP data, Fed speeches
Useful Tools:
- Economic Calendar: https://www.forexfactory.com/calendar
- News: https://www.investing.com/news, https://www.forexlive.com
Stage 4: Gold Trading Strategies
Goal: Develop setups and strategies for gold trading.
Focus On:
- Break and retest strategy (on 15m, 1h, 4h)
- Fibonacci retracement levels
- Scalping during London and New York sessions
Best Time to Trade Gold:
- 8AM to 12PM New York Time (high volume)
Watch on YouTube:
- WicksDontLie: Gold session analysis
- TransparentFX: XAU/USD setups
- FXN Trading: Fibonacci + breakouts
Stage 5: Risk Management & Funding Options
Goal: Protect capital and prepare for scaling.
Ultimate Guide to Learning and Trading Gold (XAU/USD)
Rules to Follow:
- Never risk more than 1-2% per trade
- Use small lots (0.01-0.02 lots max at first)
- Always use a trading journal to track performance
Prop Firms to Try (Optional):
- https://ftmo.com
- https://myforexfunds.com
- https://thefundedtraderprogram.com
Use: MyFxBook position size calculator
Stage 6: Tools & Daily Routine
Must-Have Tools:
- TradingView: charting and analysis
- MT4/MT5: execution platform
- ForexFactory: news calendar
- MyFxBook: trade tracking
Daily Routine:
1. Check ForexFactory for news
2. Analyze gold chart (1h and 15m)
3. Set bias (bullish/bearish) based on fundamentals + structure
4. Wait for setup (e.g., break/retest)
5. Risk only what you can afford to lose
6. Journal every trade
Final Advice
You don't need to rush. Master the process, not just profits.
Ultimate Guide to Learning and Trading Gold (XAU/USD)
Gold is a fast-moving asset-respect its volatility.
Combine technicals, fundamentals, and strong discipline.
Trade smart. Stay patient. Grow steadily.
