Any1 interested to help me out??

[Shantanu005]

Hello everybody,

I'm novice to commodities and interested to trade Gold over a timeframe of 3-6 days or max 1 week. I'm totally new to this market.

Can anyone please tell me the profit potential of trading Gold (a demo trade) by just giving a recent chart and showing the entry & exit and hence the calculation of the profit realized - it's just for demo (need not be a real trade performed).

Actually, I'm totally unknown to the lot size of Gold and its volatility - Please also tell me about the volatility of Gold. Please also tell me how much does one gain/loose when the Gold price moves by 1 point.

Thanks in advance,

 

[novais]

If you plan to trade commodities - first rule never attach yourself emotionally with any commodity.

Select commodities to trade which can give you profit. 3-6 days criteria also not a good thought process - let stop-loss handle some of the important task to throw you out from your trading position if trade goes in adverse direction, and perhaps same way - you need to have some rule/strategy/game plan to square your position [after profit] when sign comes that direction is changing to adverse side.

 

[justnice]

There are 2 contracts in GOLD ie. GOLD(1KG)=> P/L=100/- per rupee movement & GOLDM(Gold Mini of 100gms) P/L is Rs.10 per rupee movement.

For rest of your queries i am sorry to give you a definate answer