Gold's given me a sell signal on 4H, sold @ 1275.61
Closed yesterday buy for +$3.00
Closed yesterday buy for +$3.00
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DislikedHi Mitchoss, silver on its 8 hr chart continues to be bound by its channel Re Axitrader they told me that for a 100 oz gold position they charge $80.40 to hold overnight. You have any comments on this? Seems like a lot to me. Cheers.Ignored
DislikedMitchoss, so where it says "swap long - 8.04" that means to me they charge you $8.04 per ounce per 24 hours for being long, = $80.40 per 100 oz. I'm trying to understand how trading gold in the forex market works to see if it might be better for me than futures which I currently trade. Futures have a holding cost for longs of about $100/month, which is the built in time decay. I can't understand this apparent fee of $80.40 per day compared with futures. Appreciate any light you can shed, if you are inclined.Ignored
DislikedMitchoss, so where it says "swap long - 8.04" that means to me they charge you $8.04 per ounce per 24 hours for being long, = $80.40 per 100 oz. I'm trying to understand how trading gold in the forex market works to see if it might be better for me than futures which I currently trade. Futures have a holding cost for longs of about $100/month, which is the built in time decay. I can't understand this apparent fee of $80.40 per day compared with futures. Appreciate any light you can shed, if you are inclined.Ignored
Disliked{quote} The swap-spread on Gold is kind of high @ 5%, but low on Silver @ 2% ... My local broker keeps the swap-spread @ 3% for Gold, Silver, and currencies ... The swap-fee is in yearly percentage, just like most percentage indications ... The way they calculate it is by taking the current (or opening) price * contract-size * the swap / 365 ... E.g., if we have 1 lot @ 1275, swap = (1275 * 100 * -8.04%) / 365 = -$28.08 / day ... (Some broker might use 360 as the divider)Ignored
DislikedGold's given me a sell signal on 4H, sold @ 1275.61 Closed yesterday buy for +$3.00Ignored
Disliked{quote} I don't think is that complicated or I didn't understood what are you saying, on Mitchoss pictures on gold it is said 1 contract size is 100 so this swap is for 1 contract of 100 ounces per day. {image} This is my brokers gold with 1 contract being 1 ounce so for 10 ounces long I get charged 63 cents per day which is true based ot my open positions. But what I don't know is how they calculate the swap to be -0.063$ for today for example.Ignored
DislikedMy 2nd short at 1278 already closed at 1273. Another sell limit 1277/78. Will evaluate on CB Consumer Confidence news 2 hrs to go.Ignored
Disliked1263.xx seem to be well defended for now. Waiting for the flip if it happens on Thursdays confirmation with 1266.xx against Fix. If this flip, once Thursday Fix over 1266.xx then risk will be 1263.xx (Stops and Orders) a good place to start build position for 1294.xx and 1314.xx still prefer 1248.xx, however a two time 5 day flip is proving to be double bottom and possible lower low in play.Ignored
Disliked{quote} Buy taken at 1269.xx risk against 1263.xx target will be 3:1 for now at 1287.xx for now.Ignored