Have never traded gold before. I got used to forex, and looking for some platform to trade gold like currencies on forex. Don't know if it is possible. If not, what you would recommend to make frequent orders on gold with the low brokerage fees? Thank you, best to all forum members. MFtr
Use any broker with access to CBOT´s e-cbot: http://www.cbot.com/cbot/www/cont_detail/0,1493,14+62+11838,00.html
Thank you FX-Trader. Have alraedy known about CBOT minis. Personally, I fill not well in contract, besides frequent trades might be expensive. Thought there is some other way with gold, like forex..... Playing on the chart...
do you speak english sir? you do not make sense to me ... frequent trades might be expensive. Thought there is some other way with gold, like forex..... 1 mini gold tradefor me is $1.50 I do not think this is so expensive. if you trade forex without commission , yes it seems less expensive except you are buying at offer price and selling at bid price and losing pips or spread each time you trade unless you place limit orders in.
Thank you SethArb. Yes, I agree, 1.50 for mini is O.K. By the way, there is no commission on forex, all platform charge only a spread. Heard Gold Etfs coming soon (January?), can not wait. Grtgs.
A gold ETF would just be a fund of gold-related companies (e.g., mining and processing companies) - not the metal. So it would be closer to trading the $AUX gold index than the actual metal. If you want to really trade gold, the futures are what you'll need to use. Don't believe there's any electronic spot market that a retail trader would have access to like there is in forex (retail forex seems more like the early over the counter stocks "market maker" setups than what commercial forexers use - which is primarily why they're not charging commish on your forex trades - you're already effectively paying them - they're scarfing the spread - nothing's free). Good luck.
Archangel, check out trakers.com Heard it today on CNBC, some kinda weird form of gold futures created by Merrill Lynch and will trade on GLobex. What's next crude oil trakers, coffee? If this works in gold , I would be one nervous NYMEX seat holder at $1.6M
I used to think these ETF "pioneers" were offering some super products but have come to realize they're only milking everybody on the spreads. If there's no NYMEX, believe me, there's NO GOLD, OIL ETF's, etc., because where are these ETF MM going to lay off their risk?