Online Gold Trading Vs Forex Trading

1. Simple analysis

One of the best advantages about trading gold over forex trading is that it does not require complex analysis. Beside, you don't need much knowledge about the market for you to be successful. Unlike trading currencies, online gold prices are not affected by many factors. This reduces the number of parameters needed to do the analysis.

2. Easy predictable patterns

The patterns of gold market are actually somewhat predictable unlike forex market. Due to the easy predictable patterns, the online gold trading is becoming more appealing to investors day by day. The gold traders don't need some genius mind to predict the patterns in the gold market. Again, few factors affect the gold patterns leading to easy predictability of its future prices. One of the major factor affecting online gold prices is the value of US dollars.

3. Little system supervision

Another important advantage of online gold trading over currency trading is the little supervision required. Gold prices do not change drastically as noticed when trading currencies. This means you don't need a lot of time to monitor the system. Actually you just need to dedicate a couple of minutes each day to check the system. For forex trading, you have to be updated every time as the prices changes drastically. Several people trading currencies monitor the system every minute. This is common with day trading activities.

Article Source: http://EzineArticles.com/6477157