Anybody doing online trading of gold

So anybody here doing online trading of gold or forex in Pakistan? Like services provided by Harvest Topworth....who themselves are CMS Market UK brokers!?

I am mostly interested in gold trading.

^ There is always the risk of fraud if you do not physically possess the gold in your custody.

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^ There is always the risk of fraud if you do not physically possess the gold in your custody.
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Yes I am going to start playing in gold i.e. physically buying gold bars. One of my friend does this so I will get guidance from him.

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Yes I am going to start playing in gold i.e. physically buying gold bars. One of my friend does this so I will get guidance from him.

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IMHO, buy ARY gold “biscuits”. They are reliable for their quality and resale is also good (if you haven’t “touch” them and have purchasing certificate and receipts).

My friend was telling the opposite i.e. avoid ARY gold. Anyway I will look into it later. Today the market started at around $936 I guess and then went to $942 and then down to $938 currently. The US market is about to open which will give boost as usual. Then Hong Kong market will come. Damn now I see gold every where even in my dreams.

TechMan Do Guide us here to do so we will fallow you and all will be gold smiths ;)

Do mention about the initial funds / investments , and where to register the account and how to transfer money to them and from them.

Google4u

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TechMan Do Guide us here to do so we will fallow you and all will be gold smiths ;)

Do mention about the initial funds / investments , and where to register the account and how to transfer money to them and from them.

Google4u

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hehe

there are two ways of doing it:

1. offline

2. online

You all know the online process where you deposit money to a company…which will then give you some software or online service where you can see live rates like stocks, you purchase at certain amount for e.g. 950 and when it goes to 960 you sell it hence 10 is your profit. Harvest Topworth is doing this in Pakistan which it self is a broker of CMC Markets UK. At every transaction they will deduct their commission (both harvest and cmc). So if you can deal with CMC directly then it will save you cost but I heard there are some hurdles like legal and banking e.t.c.

For this the initial investment required is $5000.

Offline is the process where you actually go to the market and purchase gold bars and when the price go up you sell them. Advantage is you don’t need high initial investment so let’s say if currently 1 tola gold is for Rs.28000 you can purchase let’s say 3 tola which will cost you Rs.84000. Of course there is the hassle of taking/giving gold bar to market for sale/purchase everytime. This can be avoided by you not taking gold physically but just paying the price to shopkeeper and then he will reserve gold in your name. Then when the price goes up you can tell him to sell that and then just go take your profit. For this you need some “bharosay wala aadmi” the gold smith.

So I will start off with offline process, learn the tricks of the trade and then move on to online business.

I am trading Forex since last september i trade currency pair's EUR/USD and GBP/USD. Many Forex brokers allow gold, silver and oil trading. Some of the most relieable brokers are

Forex.com

FXSolutions

FXPro

Alpari

IBFX

OANDA.

Now most of them allow leverage up to 500:1 by which i mean if you have 100$ you can trade with 100$*500=50,000$.

So when you are trading with 100$ and you have a profit of 1$ so if you are leveraged your profit is 1$*500=500$.

But on the other hand this could work against you in the same way.

And you can open an account with just 1$.

95% of new trader's blow their account's in couple of weeks.

Online Trading:

If you are planing to trade online which is very convenient because Forex market is open 24*5 and you have online terminal and

leverage ofcourse.

PLEASE DO NOT TRADE WITH THE MONEY YOU CANNOT AFFORD TO LOOSE.

If you want any more info search the web and if specifically about FOREX visit Forex Factory i am there as NASIR.KHAN.

Before opening any online account or doing any thing else confirm with me cause there are so many frauds also.

OHH forget to tell you the best part you can trade with free practice money accounts without risking your single 1$ and improve your skills so no need to run to market for every trade.LOL

I just registered with bullionvault.com and they have given 1 gram of free gold to play with so that's what I am doing right now :D

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I just registered with bullionvault.com and they have given 1 gram of free gold to play with so that’s what I am doing right now :D
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:) playing with one gram , beware u may loose it :)

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:) playing with one gram , beware u may loose it :)

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haha yaar something is better than nothing. I am using it to learn buying/selling. I have already sold my 1 gram gold on profit ;) … now I have $34.16 in my account.

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I am trading Forex since last september i trade currency pair’s EUR/USD and GBP/USD. Many Forex brokers allow gold, silver and oil trading. Some of the most relieable brokers are

Forex.com

FXSolutions

FXPro

Alpari

IBFX

OANDA.

Now most of them allow leverage up to 500:1 by which i mean if you have 100$ you can trade with 100$*500=50,000$.

So when you are trading with 100$ and you have a profit of 1$ so if you are leveraged your profit is 1$500=500$.

But on the other hand this could work against you in the same way.

And you can open an account with just 1$.

95% of new trader’s blow their account’s in couple of weeks.

Online Trading:

If you are planing to trade online which is very convenient because Forex market is open 245 and you have online terminal and

leverage ofcourse.

PLEASE DO NOT TRADE WITH THE MONEY YOU CANNOT AFFORD TO LOOSE.

If you want any more info search the web and if specifically about FOREX visit Forex Factory i am there as NASIR.KHAN.

Before opening any online account or doing any thing else confirm with me cause there are so many frauds also.

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can we use this leveraged profit for further trading?

Like some one earns 1$ , the leveraged profit is 500$. So is there 501$ available for trade?

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can we use this leveraged profit for further trading?

Like some one earns 1$ , the leveraged profit is 500$. So is there 501$ available for trade?

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You are right that’s your money you can withdraw it or trade further with it. but that’s not 501$…!!!

Example: You have 1000$ in your account

Profit = 1$*500=500$

Total equty = 1500$.

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I have already sold my 1 gram gold on profit ;) … now I have $34.16 in my account.

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What’s the main point in selling? how do you increase your sale?. explain?

At the time of signup I got 1 gm of gold and 4 dollars free. So my total money was someone around 34.01 ($30 gold + $4 money) something. Then I sold my gold at a profit of around $0.15 so now the total money I have is $34.16 :D

So the trick is to purchase gold at low price and sell it when the price is high. That site allows you to purchase/sale gold from three places from London, New York and Zurich. London has the lowest cost of gold while Zurich has the highest.

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At the time of signup I got 1 gm of gold and 4 dollars free. So my total money was someone around 34.01 ($30 gold + $4 money) something. Then I sold my gold at a profit of around $0.15 so now the total money I have is $34.16 :D

So the trick is to purchase gold at low price and sell it when the price is high. That site allows you to purchase/sale gold from three places from London, New York and Zurich. London has the lowest cost of gold while Zurich has the highest.

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what? then how about purchase in london, sell in Zurich, purchase in london, sell in Zurich…

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what? then how about purchase in london, sell in Zurich, purchase in london, sell in Zurich…

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It doesn’t work like that ;)

You can purchase from any location but then you can only sell it there.

TechMan I have also signup for it so I will also giving a try to it, Let wee what will happened but we all need good guideline form you and other experts.

Right now I can see the difference b/w the prices is b/w is 5 $ at London

Google4u

so assuming you buy low and sell high, how can you get the profit made from that? through WU or something?