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Gold futures chart

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Hi,

 

I want to trade gold long term, how do I get the futures chart on prorealtime so I don't incur overnight costs.

 

Thanks

Sav

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Hi    The gold futures should be available from the market finder in PRT. IG only do a Gold spot or Gold (Feb 18) which is the futures market. If you can't find it there you can open the IG old platform and look in the finder under commodities, metals, gold, click on gold (Feb 18) and the drop down box gives the option to open with Prorealtime.

 

You don't incur overnight charges on futures though the spread is larger and there are end of contract (Feb 18) rollover fees.

 

https://www.ig.com/uk/glossary-trading-terms/rollover-definition

 

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Saviola, you state you want to trade gold long term. If your time horizon is long term then should you not consider investing in gold rather than look to trade it? I know that sounds pedantic but there is a difference. 

 

Also why put a time frame on it? I think this is a common mistake a lot of investors and traders make. Let the price determine your time frame. If you are long for example and the trend reverses in say 7 months then why hold for longer?

 

Also do you intend to trade gold with a long or short position. There are compelling arguments from both the 'bulls' and 'bears'. If you look at gold from a monthly chart then you can argue for a long or short position. This would be looking at the long term trend. If you then switch to the weekly chart then it looks even less appealing to go long though it is more marginal against a short position. Again when you look at a weekly chart, there can be uncertainty. Its when you look at the 4 hour chart where it gets interesting for gold from a long perspective. However the time frame for this would be months in my opinion. 

 

So when you say long term, what is your definition of long term? In my opinion this has to be over one year. My take on long term investing is at least 5-10 years. For trading long term I do not have a clue!

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