How To Maintain Your XAUUSD Positions Like A Pro

Trading XAUUSD is not just about finding the right moment to enter a trade; the art lies in maintaining the position after you enter it.

Examine these principles followed by seasoned traders to minimize the possibility of liquidation and unwinding of stop-losses:

Limit your leverage

High leverage can cause a substantial loss if the price of gold moves against you.

Do not risk your whole account on one trade

Set your stop-loss in such a way that a single candlestick movement will not trigger it since gold is a volatile asset that often gaps during the news.

Manage the liquidation level and available margin

Do not let your positions get close to liquidation. It is better to sell some part of your position before it gets too late.

Scale your positions rather than overleveraging

If your strategy allows for it, take small positions and roll them over instead of buying a large position.

Watch out for news

The releases of US CPI data and NFP reports, FOMC meetings, speeches by the members of the Federal Reserve, and geopolitical events affect gold price violently.

Lock profits

If the market moves in your favor, do not hesitate to secure some profit by either closing the position or adjusting your stop-loss according to your trading plan.

Do not revenge trade

Your account should not suffer greatly from one trade; therefore, do not risk your capital trying to recover the losses from one trade by increasing the lot size right away.

Pro’s trading mentality

Your first priority as a trader should be to stay in the game instead of trying to earn profits immediately. Everything else, following the trading plan, proper risk management, and patience will come with time. Remember, trading is a numbers game.

Trade XAUUSD responsibly and have fun.

▲ Educational content only. Trading leveraged products involves substantial risk that may lead to losses of your initial deposit. Make sure to manage your risk and know your liquidation level on your trading platform. #GoldTrading #ForexTrading #TradingTips #RiskManagement #Gold $XAU T ‌