What will be more actionable and profitable for an active trader XAUUSD or GBPUSD?

[sureshotfx]

I want to start actively trading for a living and want to trade a minimum of 8-10 times a day. So, what will be more suitable for me?

 

[Enivid]

XAUUSD would probably be more appropriate for active trading. However, that's a strange goal to set to "trade a minimum of 8-10 times a day". What if there are no good opportunities throughout the day?

 

[sureshotfx]

Thanks for the recommendation. If there's no good opportunity then surely I must pause.

 

[Zerologic]

Gold trading, in my opinion, requires paying attention to its higher volatility than GBPUSD, the risk is higher in gold than GBPUSD, but the profit potential is greater.

 

[NoShowBrooks]

I want to start actively trading for a living and want to trade a minimum of 8-10 times a day. So, what will be more suitable for me?

It depends on your trading style. Gold can be more volatile and can offer larger moves and GBP can be more responsive to the market news and economic updates.

 

[Zerologic]

The high volatility of gold provides the potential for high gains, but in line with the risk, a stop loss that is too tight is often hit by gold volatility. Some traders may use gold for scalping.

 

[ChelseaR]

Yeah, Gold price is recovering from the recent lows but I think going upside further might be limited due to the rebounding dollar. The market remains bearish while below the 21-day SMA and with the RSI below 50.

 

[David79]

Yeah, Gold price is recovering from the recent lows but I think going upside further might be limited due to the rebounding dollar. The market remains bearish while below the 21-day SMA and with the RSI below 50.

I feel dollar could cap upside. What do you think a break above 21 day SMA would shift the trend?

 

[Zerologic]

I think gold is still facing challenges ahead of Christmas and New Year, perhaps gold trading volume will also decline on the spot market.