Hubert Senters here.
Let’s go over some basics of the gold contract specifications. This is the big gold contract. The biggie. They also have a meaning and you can also do GLD. But in gold this is the main contract that I trade. Gold opens up at 6PM on East Coast and closes at 5AM so it’s open 23 hours a day.
The settlement pit close is 1:30PM and that’ll be a number you’re going to want to pay attention to because it’s going to help you predict the direction of gold for the next day and then a one point move in gold is worth $100. Each tick, each minimum move is worth 10 cents and that is worth it to each minimum.
Tick move is a 10 cent move in that one minimum move is worth $10 so every take is worth $10 so there’s going to be 10 ticks in a one point move which is going to be a hundred dollars. Easy math, right. These in for me. The months are going be G,J,M,Q,V,Z. Don’t ask me who comes up with this crazy stuff. They definitely need to re-arrange that but it’s just archaic but it is what it is. That’s going to be February, April, June, August, October and December.
Margins intraday margin about a thousand dollars, overnight margin if you want to hold it longer than 23 hours which would be 24 hours that would be overnight margin will cost you about six grand. I’m going to be doing a special webinar this week over at the Wealth 365 shindig. That’s why I’m calling it the official shindig. So I’m going to be speaking I believe it is Wednesday at 11AM EST. It says two days.
It sounds about right. Put in your first name and your e-mail here. Hit CLAIM MY FREE TICKET right now. That will register you for the webinar and I’ll see you over there Wednesday at noon to talk about more about gold and how I trade it and how you can potentially make profits from trading gold.
Good luck. Hope it helps. See you on the next video.
Hubert.
