Shorted Gold at 960 made R11 profit

captainwifi

Senior Member
Joined
Mar 4, 2005
Messages
834
Who else trades futures around here? I just shorted gold with the spike in the oil price. Should have shorted at 967 , but closed the trade at 958.
http://www.gt247.co.za allows one to trade futures via spread betting.
 

gboy

Expert Member
Joined
Dec 27, 2005
Messages
1,233
i want to know how to play penny shares, shares less that R5.
 

adamr

Executive Member
Joined
Nov 20, 2005
Messages
6,266
how much you are you trading with? ... need to learn this game
 

Roundhouse

Well-Known Member
Joined
Feb 20, 2008
Messages
167
Hi There

I understand buying a share MTN for R100 and selling it two months later for R150 and making R50. or sell for R50 and loose R50.

How does future trading work.

Please help.
 

captainwifi

Senior Member
Joined
Mar 4, 2005
Messages
834
Hi There

I understand buying a share MTN for R100 and selling it two months later for R150 and making R50. or sell for R50 and loose R50.

How does future trading work.

Please help.
It is very easy to learn. Open a simulated account at http://www.gt247.co.za and start trading currencies, gold, brent oil whatever. For example Oil spiked today at $147 about and then pulled back to $142. This is 500 points if your stake was R100 you would have made R5000 in about 2hours.
 

kiepie

Executive Member
Joined
Aug 18, 2006
Messages
6,738
It is very easy to learn. Open a simulated account at http://www.gt247.co.za and start trading currencies, gold, brent oil whatever. For example Oil spiked today at $147 about and then pulled back to $142. This is 500 points if your stake was R100 you would have made R5000 in about 2hours.
Actually it would have been R 50000

And to play R100 a point you need a big amount of money in the account already.

Remember the spread guys. Oil spreads can be upto 15 points. That is MINUS R1500 to start off with in the first second of trading!
 

captainwifi

Senior Member
Joined
Mar 4, 2005
Messages
834
Actually it would have been R 50000

And to play R100 a point you need a big amount of money in the account already.

Remember the spread guys. Oil spreads can be upto 15 points. That is MINUS R1500 to start off with in the first second of trading!
500 points x 100 = R50000 profit. The margin for this at gt247 is around +-R120 for every R1 stake. Thus you would need R12000 margin but could hit your stop losses if the timing of the short was out. Look at it this way at $50 we were told about peek oil and that the world as we know it is coming to an end. From $50 to $145 was 9500 points. Lets presume you only took a R1 bet for an outlay of R120, you would now have R9500. If you took a R100 bet you would have nearly a million rands over less than a year period.

Their spreads are not that wide only 10 points. Straight futures is around 4points but then you would need to purchase an outright futures contract and the margin for this is very high and you would have to do this in the USA or UK with dollars taken out of the country. GT allows one to use rands.
 

Raevinn

Senior Member
Joined
Jun 30, 2008
Messages
762
mmmmmmmmmmmm, are there any good books to read, courses to take etc? I'm keen on trading but I need some knowledge to start off i guess.
 

kiepie

Executive Member
Joined
Aug 18, 2006
Messages
6,738
mmmmmmmmmmmm, are there any good books to read, courses to take etc? I'm keen on trading but I need some knowledge to start off i guess.
Any experience in the market? If no rather start with shares.

Warrants/wave/futures/forward is risky investments. ;)

Will post some links later, but search for "shares" on the forum. :)
 

air

Expert Member
Joined
May 19, 2005
Messages
2,535
GT247's graphs are s h i t e in my humble opinion, check their EMA's, data feed is also creppy, graphs don't update - they freeze. they tried to correct it via a proxy, still has issues. As kiepe mentioned be aware of the spreads. Nice thing with GT, is that you can trade partial contracts on ALSI, thus margin requiremnts are less. I trade ALSI/DOW and gold.
page88.co.za is brillant, check it out. For decent gold calls, check out www.goldtc.com and also kitco. Having great discipline [follow your system] and sound 'wad' management is critical. Depending on system, employ a stop-loss Cannot emphasize enuff how decent pagg88 is!
 

Raevinn

Senior Member
Joined
Jun 30, 2008
Messages
762
ohk, i know having experience counts a lot, but surely there must be a little bit of science behind it all?? where could i find out about these formulae etc. I played the fsx game on facebook last year was nrealy 80% up in 3 months, but I want to know how to work all that stuff out??
 

JK8

Banned
Joined
Jan 18, 2006
Messages
14,105
GT247's graphs are s i t e in my humble opinion, check their EMA's, data feed is also creppy, graphs don't update - they freeze. they tried to correct it via a proxy, still has issues. As kiepe mentioned be aware of the spreads. Nice thing with GT, is that you can trade partial contracts on ALSI, thus margin requiremnts are less. I trade ALSI/DOW and gold.
page88.co.za is brillant, check it out. For decent gold calls, check out www.goldtc.com and also kitco. Having great discipline [follow your system] and sound 'wad' management is critical. Depending on system, employ a stop-loss Cannot emphasize enuff how decent pagg88 is!
Page88 is an attack site??!!
 

DJ...

Banned
Joined
Jan 24, 2007
Messages
70,288
ohk, i know having experience counts a lot, but surely there must be a little bit of science behind it all?? where could i find out about these formulae etc. I played the fsx game on facebook last year was nrealy 80% up in 3 months, but I want to know how to work all that stuff out??
Go to an equity trading course and use websites like investopedia. There are numerous formulas that you can use, but it is dependant on your investment strategy. Most investors will use custom formulas which is why understanding the concepts is better than parrot learning the technical formulas. The formulas also dont result in a buy/hold/sell recommendation, they will give a a value that will merely help you to make a decision.

If I were you, I wouldnt even contemplate trading futures contracts until you understand the equity market. It will give you a solid basis to branch out into different asset classes.
 

air

Expert Member
Joined
May 19, 2005
Messages
2,535
page88 had an SQL injection attack some time back. the site guru [outsider] together with an SQL resource has been cleaning it up. you can't trade via pg88, it is purely a forum for traders. if you into any kind of spread trading/TA/mechanical systems, that would be yr first call, blerrie smart and very very helpful people there - use this info or don't use it, entirely up to you!

one other thing, courses offered by the *shaman* are apparently very good.
 
Last edited:

DJ...

Banned
Joined
Jan 24, 2007
Messages
70,288
page88 had an SQL injection attack some time back. the site guru [outsider] together with an SQL resource has been cleaning it up. you can't trade via pg88, it is purely a forum for traders. if you into any kind of spread trading/TA/mechanical systems, that would be yr first call, blerrie smart and very very helpful people there - use this info or don't use it, entirely up to you!

one other thing, courses offered by the *shaman* are apparently very good.
Did you read the argument thats been going on for a while? Has put me off posting there...
 

air

Expert Member
Joined
May 19, 2005
Messages
2,535
Did you read the argument thats been going on for a while? Has put me off posting there...
put of posting, hopefully still reading what is available?

I try and stay clear of the occasional bit of 'dick-measuring' that does occur. The resources/postings available imvho are too valuable not to read. :cool:
 

DJ...

Banned
Joined
Jan 24, 2007
Messages
70,288
Yeah it is a great resource. I am still reading but really dont want to get involved in the "Dont take this the wrong way but you are a prick" debates...
 
Top