Advice for novices

Every newbie must to know that trading is not a get rich quick game. It needs a lot of hard work and even then the success is not 100% sure. Also they must not risk what they can`t afford to lose.
 
I would also agree with what others have said XAUUSD is not an instrument for beginners using leverage. It can move like a steam train, often in the opposite direction to what you think.
 
Perhaps, the most important thing that a newbie should know before starting trading is the fact that trading forex is quite the same as any other profession which requires certain skills and knowledge. Forex is not a source of easy money. THere is no easy money left in the world, actually, so in order to be a succes in forex you've got to work hard and always improve your skills, otherwise you'll blow up your budget. More than that, you shouldn't underestimate your psychology as it plays crucial role in a decision making process. Traders make money only after a thorough analysis of the market and setting up accurate and concrete goals.
 
Be careful trading the yellow metal .
Has been known to blow accounts .
Having a good grasp on Fundamentals will help
 
Every newbie must to know that trading is not a get rich quick game. It needs a lot of hard work and even then the success is not 100% sure. Also they must not risk what they can`t afford to lose.
 
That's good going from one trade. I would recommend doing further training if you want to be able to make a living out of trading. If you don't put in the study next time that one trade could be a big loss instead of profit.
 
Gold is a hard one to tame .
Can be choppy only use major S/R and or Major S/D levels and watch the spreads
 
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