Day Trading with Gold and Silver with Forex Live
The Gold and Silver Market
Gold and Silver is traded on the market just like any other stock. The symbol for gold on the market is XAU and the stock symbol for silver is XAG. If you look at the stock charts for these symbols for the USD (United States Dollar) it shows the price of one ounce of gold or price of one ounce of silver. Gold and silver are both very volatile markets and there is a lot of money that can be made.
Because the gold and silver commodities market is so volatile and can move so quickly, there is more money to be made, only at the cost of more risk involved, just like the stock market. Although gold and silver are both big movers in the market, they have been known in recent times to be very strong and big money makers. Just a few years ago in 2001, gold used to be in the $200 range per ounce. At the end of 2005, gold was near $750 per ounce! As of now in mid-2007 it is in the $650 range and the long term charts are showing steady growth. That is nearly a 300% gain in over the last 5 years! Here is a chart below to get an glimpse of the gold market:
The silver market was even more volatile surprisingly. If you thought trading gold on forex live was good, wait until you see the gains in silver. In 2001, silver was in the $4 range per ounce. In 2005-2006, silver was close to $15 an ounce. That was nearly a 400% return on investment (ROI) over the last 5 years and still on a steady growing trend. You may need a larger chart to show how quickly silver is growing!
Taking Advantage of Day Trading Gold and Silver with Easy Forex
As you can see, many users who day trade using easy forex made BIG money over the last few years. You can make a ton of money doing long term gold investment and silver investment, but you can make even more money if you know how to day trade live gold and silver against the USD. There are different ways of measuring weight in gold and silver. The first and most common is the TROY ounce 31.10 grams, which is bigger than the AV ounce 28.35. Luckily with easy forex live, you won't have to worry about this as you the price of gold is the same globally in foreign exchange.
When you day trade gold or silver online with easy forex, you may do this live 16 and a half hours a day. With forex, you can perform gold and silver trades like any other stock and exchange of foreign currencies by OTC (over the counter) so that cuts out the middle man and the trade will go through only the two parties involved in it. Easy forex makes it less costly and more quickly to complete a trade without the exchange market. The rates of gold and silver, just like foreign currency rates does not require any physical involvement such as purchasing and selling of a commodity. Easy forex is a live non-delivery trading service.
To truly take advantage of the gold and silver exchange rates against the dollar, you should take the time and effort to practice trading and know the market as there is always a risk that you may lose money. Forex Live offers a free online ebook on the left side of your screen that you may read for additional information on how forex works. You may also visit Easy Forex to sign up for this service or find many articles and tutorials about forex and day trading silver and gold rates against the US dollar. If you would like to sign up, easy forex will let you sign up with a minimum of $50 and you may deposit money using paypal, credit card or bank wire.