1. Keep your gold, silver, and mining stock trading holdings as minimal as possible. The greater the likelihood of being accurate, the larger the position may be (this is why long-term investment positions are larger than short-term trade positions).
2. Pay attention to cycles and turning points – many markets are cyclical (for example, the USD Index and silver), and cycles may be quite useful in both short- and long-term trading.
3. Evaluate the efficacy of any indicator you want to use on the gold market (or other markets) before implementing it and trading real money with it.
4. For gold, silver, and mining equities, consider employing the RSI and Stochastic indicators, which have shown to be effective over time. Other indications can be beneficial as well, but make sure you thoroughly investigate them before making trade choices based on them.
5. Now that you've learned and comprehended how gold trading works, you should devote some time to developing a plan. This should help you decide whether to purchase, hold, or sell gold. Furthermore, the method might be either technical or fundamental. You may also combine the two kinds of analysis to develop a trading strategy.