Any tips on the overnight Gold market?

[UVXY20]

Some traders I know used to do the old London Fix overnight market? That still traded? If so, with futures or XAU/USD or some other FX combo?

 

[SunTrader]

London 3pm fix is 10am here east coast time.

Really no biggie most of the time, "baked into the cake".

News releases far more important - rates of course.

 

[maxinger]

You might be the only one talking about the London Fix.
You might be the only one looking at it.


It is totally useless for day trading.


Just focus on the chart.

 

[Handle123]

Risk less than day sessions of usa

 

[MrMuppet]

there is no such thing as the overnight market in gold, my man. It´s a 24/7 market for about 10 years already. Just because the sun is not shining in Burgerland doesn´t mean people are not trading gold

 

[CannonTrading_Ilan]

Lower volume until the 7:30 AM central time when at time economic reports come out and when the US active, also aligns with the "old pit open" at 7:20 AM Chicago.

 

[IamaMars]

Yes, stay away from it
I admire those people who can go to sleep with open positions, especially on Gold. I would wake up like hundred times during the night to check how it is going
Yup, it is not for me, but I know people leave open positions on gold even for weeks.
If you want to survive, keep the position size small. Actually not small - trade with micro lots. Gold can take some sudden turn and can seriously harm even blow up your account.

 

[murray t turtle]

Yes, stay away from it
I admire those people who can go to sleep with open positions, especially on Gold. I would wake up like hundred times during the night to check how it is going
Yup, it is not for me, but I know people leave open positions on gold even for weeks.
If you want to survive, keep the position size small. Actually not small - trade with micro lots. Gold can take some sudden turn and can seriously harm even blow up your account.

%%
Good points on gold, mostly a luxury market; 11% industrial use.
FEB may not be the best time to ,mention this LOL\
but plenty of people in industry do a life time of open positions, with their business +stocks ETFs.......................Its such an underperformer compared to SPY benchmark.
Gold + silver + copper are a good base for coins , so i also would not quarrel with those holders, traders or spenders
50% drawdowns, more or less can be common.