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How to trade gold (XAU/USD)

A plain, practical guide for traders in Nigeria — lots, leverage, margin, costs and the risk rules that keep beginners in the game.

xau/usd · one bar, one hourTARGETENTRYSTOP
A plan is three prices decided before the entry, not after.

Gold (XAU/USD) is traded as a CFD — you speculate on the price, you don't own the metal or coin. One standard lot is 100 oz.

Lots, leverage and margin

Margin is what your broker locks to open a position: (lots × 100 × price) ÷ leverage. At 1:200 a 0.10 lot needs $213.75. Use the margin calculator.

Size to a fixed risk

Decide the money you'll lose at your stop first, then let the position-size calculator pick the lot. Never size by how much margin you have.

A first gold trade, in the order the steps actually happen.A first gold trade, in the order the steps actually happen.01Decide the loss youacceptIn money, before thechart. Everything elsefollows.02Find where the ideais wrongThat price is the stop— not a round number.03Let the size becalculatedRisk divided by stopdistance, in lots.04Check what it locksMargin at Up to 1:200via offshore entity;one review cited1:30/1:20 caps —conflicting, notverified at review.,which is a maximum andvaries.05Count the costSpread on entry, swapfor every night held.
A first gold trade, in the order the steps actually happen.

Costs

You pay the spread on entry and an overnight swap if you hold. Factor both into every trade.

Ready to trade gold

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FAQ

Common questions

What are the practical steps for placing my first gold trade?

Decide direction and entry, then calculate your position size from your risk in naira using the position size calculator, and set a stop-loss before you click buy or sell. Check the pip value and margin required, place the order, and record the trade. No step should be skipped under excitement.

How do I calculate the right lot size for a gold trade?

Work backwards from risk: decide the naira or dollar amount you accept losing, measure the stop distance in pips, then divide. One standard lot is 100 oz and one pip is 0.01, so a 0.10-lot position at 1:200 needs about $85.50 margin. Use the position size calculator rather than guessing.

Where should I put my stop-loss on XAU/USD?

Place the stop where your trade idea is proven wrong, not at a round number you feel comfortable with. On gold, allow for normal noise using recent swing highs or lows, then size the position so that distance equals your risk budget. Pivot points can help frame likely support and resistance.

How do I fund a gold trading account from Nigeria?

Local NGN bank transfers, Visa or Mastercard debit cards, e-payments and crypto are the funding routes listed. Which one clears fastest and at what cost depends on your bank and the broker's payment processor, so test with a small amount first and keep records for your own accounting.

How do I know when to close a gold trade?

Close when your pre-set target or stop is hit, or when the reason you entered no longer holds. Deciding exits in advance removes emotion. Use the profit calculator to see what a given move is worth in naira before you enter, so the target is a number you chose, not a hope.