Benue Rules
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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.

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FAQ

Common questions

What is the first practical step in placing a gold trade?

Decide your risk in naira before you look at the chart, then convert it to dollars. From that figure and your stop distance, use the position size calculator to get the lot size. Only then open the order ticket. Sizing first prevents the common mistake of picking a lot size and hoping the stop fits.

How do I set a stop loss on XAU/USD correctly?

Place the stop where the trade idea is proven wrong, not at a round naira amount you are willing to lose. On gold, one pip is 0.01, so a stop 200 pips away on a 0.10-lot position has a known dollar cost. Use the pip value calculator to confirm that cost before sending the order.

How does margin work when I open a 0.10-lot gold position?

Margin is a deposit held against the position, not a fee. At the maximum leverage available to Nigeria, up to 1:200 via the offshore entity, a 0.10-lot gold position needs about $85.50 margin. One review cited 1:30 or 1:20 caps, which conflicts and was not verified, so confirm the figure on your own account.

Should I trade gold during the London or New York session from Nigeria?

Gold is most active when London and New York overlap, which falls in the Nigerian afternoon and evening. That is when liquidity and movement are usually greatest, but it is also when a stop can be hit quickly. Trade when you can watch the position, not when the clock says the market is busy.

How do I move from a winning plan to taking profit without giving it back?

Set the exit before entry: a target, a stop, and a rule for trailing either one. Use the profit calculator to see the naira outcome at your target with the current USD/NGN rate. Once the plan is written, the trade is mechanical. Moving a stop to avoid a loss is how a small planned loss becomes a large one.