Best Time For XAUUSD Trading in South Africa

@maasai_princess - 9 months ago - Forex Trading Strategies

Does anyone have an idea of specific times when it is best to trade XAUUSD in South Africa? I'm lookin for a time when I will get low spreads and better execution on my XAUUSD trades.

@karbin - 9 months ago

XAUUSD CFD (Gold) is most active from 4PM-7PM South African time i.e. the NY session hours.

You can also trade gold during the London session from 8AM to 1PM. But on 3 out of 5 days in a week, it is not strongly trending in a direction.

Refer to the attached example of the session on XAUUSD instrument during last Friday's trading. The one marked with box is the NY session trading. If you notice, the London session was mostly sideways.

But there are risks as well, because it is very news driven during NY session. From what I'm seeing, there is high volatility, so you can lose big really quickly.

I don't trade gold CFDs, so I don't think I can add further value. But what I'm explained above is only based on observation of the sessions. If you are actively looking to trade gold, you must first develop a strategy that you can execute without thinking, rather than discretion. It can even be during London session, or Asian, if that has an edge for you.

So, there is no straight answer of when you should be trading it. It depends on what works for you, and do you have an edge in trading it.