What are Metals?
Metals are assets that are mined from the earth. They have for a long time been used as mediums of exchange and therefore meet the threshold of being listed as trading instruments in the exchange markets.
Precious metals like Gold, Silver, Platinum, and Copper are tradable trading instruments listed on the exchange markets.
Like prices for other assets, metal prices are determined by supply and demand forces.
When many people predict that the value of an asset will increase in price, they will buy it cheaply and hope that later when prices rise, they sell to make profits.
The opposite is true.
When so many people want to get rid of a certain metal by selling it at the current price because they think the price of such metal will fall so low with time. The Supply of such metal will be so high that its price will fall.
Having said all that, how then can you invest in these metals?
Do you need to walk around buying and selling Gold and Silver the old way? Not.
You also do not need to spend your days monitoring charts of price movements at any designated place because you can trade from anywhere.
Investing in Metals with the Olymp Trade Mobile App.
Introducing the Olymp Trade Mobile App.
This App has everything you need to begin trading metals and to sustain your investment right from your home.
What does the Olymp Trade Mobile App enable you to do?
- Access the Metals exchange market.
- Access a variety of Metals to choose from.
- Monitor the prices of Metals and any fluctuations.
- Do fundamental analysis using a wide variety of technical and chart analysis tools to predict a fall or rise in Metal prices.
- Execute instant trades at the current market Metal prices.
Additionally, the Olymp Trade Mobile App allows you to trade Metals on both Fixed Time and Forex Mode.
The following Metals can be traded in Fixed Time Mode;
The following Metals can be traded in Olymp Trade Forex Mode;
Let us now see how you can use the Olymp Trade Mobile App to Invest in Metals;
- Register on Olymp Trade.
- Download the Olymp Trade Mobile App.
- Log in to the Olymp Trade Mobile App.
- Deposit money into your Olymp Trade Trading Account.
- Choose the Metal to Trade.
- Trade the Chosen Metal.
7. Olymp Trade Registration.
You will only need to provide your email address, set your password, select a convenient currency, and then agree that you are of legal age. You will then be required to verify your email address and that will be it.
2. Olymp Trade Mobile App Download.
3. Olymp Trade Mobile App Login.
It is simple;
- Enter the email address used in registration.
- Enter the password set during registration.
- Solve a few simple captchas.
You will be logged in.
4. Olymp Trade Money Deposit.
Hit the Deposit button and fund your account with at least $10. You can use your Bank Cards, E-wallets, Mobile Money payment methods, and many other deposit methods available in Olymp Trade.
5. Choosing the Metal to Trade.
Choose the Metal to trade in these quick steps;
- Log in to the Olymp Trade Mobile App.
- Hit the Assets Button.
- Choose whether to trade Fixed Time or Forex.
- Select Metals from the available buttons.
- Choose the Metal you want to invest in from the list.
- Trading Metals.
Trading Metals on the Olymp Trade Fixed Time Trading Platform.
- Choose the trade duration. Remember to use the higher time frames like 1 hour and so. We shall explain why so towards the end.
- Carry out technical or fundamental analysis or both to predict the direction the price is likely to be after the duration you have chosen.
- Place Up or Down Trade based on your prediction.
- Correct prediction at expiry earns you the specified percentage of the invested amount plus your invested capital.
Investing in Metals with the Olymp Trade Forex Platform.
- Carry out technical or fundamental analysis or both to predict the direction the price is likely to move next.
- Select a multiplier and trade size, for example, x50 means that your trade size will have 50 times more power in returns than if invested as it is.
- Adjust your Take Profit which should not be too far or too close from the entry-level.
- Adjust your Stop Loss which should also not be so close or so far from the entry-level. Stop Loss and Take Profit must be set with a reasonable risk to reward ratio.
- Enter Up or Down Trade according to your prediction.
- Wait till your Take Profit is activated to earn the targeted amount of profit.
Things to note when investing in Metals with the Olymp Trade Mobile App.
What news and currencies affect the price movements of these precious metals?
Is it easy to predict where the price of these metals will go next?
It is worth noting that some metals like Silver do not react so fast to news and rumors but keep their calm and continue moving. If you are trading silver then, you need to identify the trend and trade in its direction.
In addition to that, keep abreast of their demand and supply patterns of the time to tap into any trading opportunities they may offer.
Gold is different though!
When trading Gold, beware that they react to the U.S Dollar, news, and any rumors in speeches concerning it or the U.S Dollar.
This means that they tend to be more volatile and spike so often and do not keep a stable price pattern.
Gold is used to store value and so when a recession is around the corner as revealed in any U.s News, most investors will seek to buy so much gold. Take note of that too.
Considerations for Gold.
When trading Gold, note that the spiking may not be so significant to impact prices immediately. Sometimes the current trend will be held for some until some changes manifest.
It is upon you to determine the underlying market conditions at the time you are trading.
When trading metals especially in Fixed Time mode, consider using the upper time frames for both the charts and trade duration. This is because their price movements may not be that immediate to turn around within a few minutes but may do so in several minutes to hours.