O gives you good leverage re xau. Tick charts work MUCH better (fib. numbers) than time . With a 2$ stop you can double your acc. with an $18 move (your risking 10% of acc. - i have pulled of such a trade- people who say i'm risking too much can go jump). trade the us session (8.20 ETam start) because the slippage, if you get into a loosing trade outside these hours, will be heavy. O has a 60-70 cent spread during these times - futs only 10 cents - but with spot you get the leverage and liquidity. Trade fx (aud/usd is my favourite) before this period-european open- and then gamble the winnings on xau in the us period. So really you risk house money when speculating on gold if you pull of a good aussie trade. And gold is white hot at the moment - forex cannot match it for risk/return (unless your dealing in 50 mill.+ in fx per trade). I hope this volatilty continues (and it WILL!!) in xau/usd.
