is gold better than forex?

Please I would like to know if it is better to trade gold or just stick to trading forex pairs as i am doing now.

A
@aisley - 9 months ago

Gold is actually more expensive to trade because many brokers charge excessive spreads on it, so you need to have a sizeable account balance to trade gold.

Gold is mostly active during the NY session (during London session it mostly ranges) and the NY session is notorious for news releases making it a very volatile session.

Speaking of volatility, gold is also more volatile than forex pairs so you could incurr huge losses in the blink of an eye.

Major forex pairs are not limited to the NY session they see modest price movement even during the London session and major forex pairs also have lower spread making them cheaper to trade.

So, for me I think trading gold may be better if you have a huge trading account balance (so you can set wider stop losses) and a tested strategy for trading gold.

If not, you may want to consider trading major currency pairs if your account balance is small and you are a beginner who is not yet experienced and has not yet developed a solid strategy for trading gold.

Gold is really volatile and is not an instrument you use to learn how to trade, so the choice is yours.

S
@segun_33 - 9 months ago

None is better than the other, you can make money from trading any instrument just have a good strategy then increase your lot size.

H
@hosea_makelele - 9 months ago

Don't trade gold CFDs as a beginner, there are not enough strategies out there that are profitable for gold. Gold ETFs are a better way for beginners to access the gold market instead of trading CFDs.

But if you have enough experience in trading, I will say trade gold futures because they are more predictable than gold CFDs.

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