Solution: Be realistic about your goals. One of the biggest mistakes that can crop up in gold trading is getting caught up in the belief that there are unimaginable riches just waiting to be tapped. There is no promised glory land that will appear just because you want it bad enough. There is profit potential, and there is a risk of [...]

Solution: Gold is a global commodity - keep an eye on the big picture. It is natural to look to the things you are familiar with when you are doing your analysis. For some investors, this means reading domestic news and weighing that within their price forecasts for gold. The problem is that the marketplace is global. One must be [...]

Solution: Remember that gold prices can move up or down. Most investors won’t acknowledge that an asset could turn against them. They invest assuming they’ll be successful, refusing to look in the rearview mirror. It’s also common for emerging traders to use a calculator to predict how much they’ll make and how they’ll spend the unrealized profits! Whoa! It’s dangerous to [...]

Solution: Check your heart at the door. Stick to your trading plan. Having those barriers and limits will help you keep your emotions in check. The reason many emerging traders fail to consistently earn profits is because of their perceptions of money. Find methods to desensitize yourself to the emotional connection to money. Consider trading smaller size increments. Trading [...]

Solution: Have a plan – think through your gold investment. Before you participate in any kind of investment, you should have a master plan that is prepared and understood before entering into any trade. Take the time to perform due diligence having a coherent outline will help you avoid many of the common pitfalls of  trading. Every trading [...]