Routes through the courseSix lessons on XAU/USD: contract size, how a pip is counted, and why risk per trade has to be worked out differently.
Trade gold
Lessons on this route
6 lessons
- 1 · Lesson 2.8
Gold (XAU/USD): how it differs from currencies
Different contract size, different pip, wider ranges. The arithmetic of risk per trade changes with all three.
- 2 · Lesson 1.3
What a pip is worth in money
A pip is the smallest standard price step. What it is worth depends on lot size and the pair, so the same twenty-pip move pays differently on different trades.
- 3 · Lesson 1.7
Leverage and margin: how much of the trade is yours
Leverage sets how large a position your deposit can hold. Margin is the part of your money locked against it while the trade is open.
- 4 · Lesson 1.9
Stop loss and take profit
Two instructions you attach to a position: one closes it at a loss you chose in advance, the other at a profit you chose in advance.
- 5 · Lesson 3.2
Working out position size
Risk in money, divided by the stop distance in pips, divided by pip value. Three numbers you already have, in that order.
- 6 · Lesson 2.14
Sessions, news and the calendar
Which hours a pair actually moves in, and which scheduled releases widen spreads enough to matter to a stop.