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yes, it seems to behave sort of like NQ, but not as erratic (I guess it is due to the higher DOM depth), which is advantageous if you think you made a mistake as it does revisit prices quite often.
in any case I take it that what you are trying to tell me is that GC is best played on a slightly longer time scale than a few seconds/minutes?
Everyone trade differently. If it suits your style and it works, you could get quick profit. Just understand that when it goes against you, it could be fast, and it hurts as much if not more.
Been trading Silver about 95% of the time and the rest GC this past summer because ES was a slow mover. I been basically using GC and Equities to correlate the SI moves. Also watching USDX. Metals kind of being in a funk back to balance and look for the catalyst move to take advantage of. There's seems to be alot of anticipation for both SI and GC so I've been keeping it up on my radar. Posting my chart from last week. Note the larger moves.
Thanks. I am a gold bug, but I also am a reality bug.
It seems that ETF inflows picked up in September and gold has showed bullish signs after a big decline. However, in the past few weeks there has been what appears to be a dead cat bounce after the double top at the beginning of September. I trade silver, but use gold to get an idea of direction.
Given that silver has not reached all time highs, this is clearly a fear based bull market. China and India have picked up demand, but weddings in India are still banned due to COVID-19. I believe the ban was set to end sometime in September, but I think they have been extended (I don't know for sure).
In short, gold may go up due to a panic, but until there is a re-opening of the economy it is doubtful that the metals will take off. I think once the economy opens up, the metals will soar. That's exactly what happened to silver in May. At least, that's how it appeared when I started tracking it. What I remember most is that silver took off as soon as the exchange lowered margin requirements so I am also looking for that to happen although it may not.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,057 since Dec 2013
Thanks Given: 4,399
Thanks Received: 10,225
The more money central banks print, the more attractive gold becomes. IMO if gold is going to see the prices many are now talking about it won't be because retail demand it will be because institutional portfolios increase their gold weightings. Even a small shift in their portfolio's equates to large change in gold demand.
Hello, does anyone know what the next active contract will be for /GC in ThinkOrSwim? I'm hoping not to call in to TD to find out or wait... maybe someone knows what the process is?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,057 since Dec 2013
Thanks Given: 4,399
Thanks Received: 10,225
Not sure about TD specifically but when people stop trading Dec20, the most liquid contract will be Feb21. Today Dec has already traded 300k contracts, and Feb has traded 100K. No other month has traded more than 6k contracts.
Hi, thanks for your response! Yes, I was assuming it was going to be Feb based off of the volumes but didn't know for certain as yet.
I got the following email and am figuring out whether to roll earlier or not...so decided to check w some experts on the forum. If you have any experiences in rollover, I'd very much appreciate an advice.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,057 since Dec 2013
Thanks Given: 4,399
Thanks Received: 10,225
The Dec contract doesn't expire until 29-Dec but first delivery day is 27-Nov. So if you have a Dec position after 27-Nov you could be required to make or take delivery. Hence why anybody who doesn't have gold in the warehouse gets out before first delivery date.
As for rolling....
Dec/Feb is 6.25c which is 3.125c/month
Dec/Apr is 10.35c which is 2.5875c/month
Dec/Jun is 13.35c which is 2.225c/month
Dec/Dec is 21.95c which is 1.83c/month
So if your buying and holding the further you roll back the cheaper it is 'per month'. If your trading then maybe Feb is best as it will have the most liquidity but saying that Dec21 is a 1 tick wide market most of the time as well. It just doesn't trade much.
I rolled my heavily underwater length back to Dec21 as I think this is a position I will have for a while.