IC Markets
7 Gold Trading Mistakes Beginners Make (and What to Do Instead)
2:57 · 9 chapters · gold trading series, part 3 of 5
What you'll learn
The seven habits that cost new gold traders the most, and the simple rule that fixes each one.
Go further with our gold trading guide, size a trade with the free gold lot size calculator, or see these ideas on today's chart in our daily gold analysis.
- Key point 1
- Lots too big: 1 lot = $100 per $1 move
- Key point 2
- Counting in pips: each broker defines a gold pip differently
- Key point 3
- Trading the daily close when spreads widen
- Key point 4
- Holding full size through big US news
- Key point 5
- Widening stops, ignoring swap and revenge trading
Contract facts from exchange and regulator rules; every price and account size in the video is an example. Education, not financial advice.
The rest of the gold series
The video is presented by an animated host with a computer-generated voice; the research and checks are by the FX Recap team. Risk warning: forex and CFD trading carries a high risk of losing money because of leverage, and most retail accounts lose money. This is education and review, not financial advice. FX Recap may earn a commission from some broker links; see our affiliate disclosure.