Let's discuss here how to trade gold and silver online.
I myself have been trading gold and silver for some time now. I am seeing profitable gains from it. I only trade online and with my own money.
I trade through technical analysis only. No news as the market is manipulated.
So far, 20 percent every month is very achievable.
How do you guys trade?
I absolutely agree with a few points in your post. Saying the Gold market is "manipulated" is a drastic understatement, this market is manipulated by big bank collusion, And broker involvement. Which makes it worse than manipulation alone. However as one told me before riding the trains of manipulation and collusion will make you rich overnight in this market.
I trade primarily Gold and silver, and do it on a daily basis. I find you can trade around US news, and if on the right side of the train during that release you can make substantial gains.
I use much more than just technical analysis or fundamental analysis, I use those as a crutch basically, a way to see what others will be trading. Basing a trade on historical data could be very problematic in my opinion, we never know what is going to happen what is going to push or pull a market, what happened last year, last month, last week and yesterday may not happen today. i do not base my trades on that information. I use that information to tell me where others will be trading. I formed my own little system that seems to be doing well. I sure hope it continues and gives me the confidence I need to make more successful trades. But with any system, there will be that time when it just does not work anymore. But so far it has been doing very well.
I trade on all 3 sessions, I watch the news very closely right now on Ukraine because a situation like that could drastically effect the metals market. I try and get as much information on India and China for the Asian session, I watch the banks and monetary policies during the London market, and the USA market, forget it, those guys are crazy with their Huge sell offs for no apparent reasons. They do things that just defy all logic in this market. and they do them in the least expected ways. In the new York session you have to tread on thin ice and hope when you click that trade COMEX doesn't do something astoundingly stupid. Like selling 500,000,000 dollars in gold contracts at 8:27 AM on April 29th this past month. The reason i say they defy all common logic in this market, is like this, why would a commodities exchange sell off 500 million dollars in gold contracts and force the price 8 to 15 dollars down, when there is a huge demand in gold right now, and they are having a hard time even keeping enough of the metal in stock to support the demand. By forcing the price down, you are opening doors to allow more lower financed investors have the opportunity to get their hands on some bullion, thus driving the already high demand higher and making less money on the gold you sell. To me that just does not sound logical for a Commodities exchange business to make a decision like that.
These are some of the ways I TRY to trade this market.