By theindiantrader on Skatehive
Welcome back, Yesterday itself, I talked about how gold was pumping at a rate which was not acceptable, and people were coming in with fear of missing out, thinking that they could open long positions and earn good money. But they forgot that it was a very risky situation. Even some of my friends from the crypto market and the stock market, who trade in both, tried to take advantage of the situation gold was going through. I am someone who always prefers to take the safer side of the road, and that is why chasing profits in such a situation, especially in gold, felt extremely risky to me. Today, it has been proven why it was risky. Just two days back, gold was trading around $5,600 USD per ounce, and today it has fallen to as low as $4,950 USD per ounce, which is a massive drop. If we calculate the total loss in just the last 2 days, less than 48 hours, it comes to an 11% dump in gold prices. If someone opened a long position without proper risk management, there is a high chance that