Short term
Trade view / 22 August 2016 at 14:16 GMT

UPDATE: Closing 1340/1350 GC Call Spread

Product Manager, Options Trader, Educator
Instrument: GCV6
Price target:
Market price:
Gold has failed to rallied above our strike price of $1,350/oz and although we still feel bullish about the metal, with three days to expiration we will close out of the trade. 

Unfortunately, closing today will result in a loss of $2.80/contract (initial investment $5.70).

To close the trade, simply buy back $1,350 for $2.50 and sell to close $1.340 for $5.40 (as of 1400 GMT)

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Source: Saxo Bank

— Edited by Michael McKenna

For more on contract options click here.

Non-independent investment research disclaimer applies. Read more
Feders Feders
It's a shame. Since starting options with real money , third loss in a row!. Hope this change soon. In simulator 67% in three month!.
Georgio Stoev Georgio Stoev
It's unfortunate. Hope you are controlling the risk in your account and allowing to lose no more than 1-2 percent on any trade.
Feders Feders
Yes!, following your recomendation in WOW series, I'm risking 2 or 2,5 % at most.
Market Predator Market Predator
No doubt, risk control is key! I traded CFD Gold and also felt pain, you're not alone Feders. Georgio please continue sharing these trading idea it's inspirative, I appreciate it. Thx!
fxtime fxtime
Feders...may I suggest a one std dev strangle monthly is 84% probability of profit SP500 (3yrs and 10yrs data) also try and reduce cost basis and enhance b/e by selling OTM CALL OTM and SELLING a PUT OTM as opposed to buying a call etc as this variation lowers margin requirement too. Failing that consider a straightforward OTM theta decay model with a trade entry 45 - 53 days away from expiry to maximise time decay as the latter can be adjusted to enhance returns. Georgio is providing solid strategies and it will show over time that these strategies do accrue revenue for you. Bad luck with the three duff trades in a row but as other pro traders here suggest you can be right as low as 30% of the time and still have positive account growth of the year. Georgio's trade stand the test of time when applied to other markets over the years and it will benefit your soon enough.
Feders Feders
Thanks fx! , I'm pretty stubborn so I'm not giving up with this anytime son. Also, I will read several times what you suggest in order to understand it, haha!.


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