Hi, I have yet to trade my first futures contract and am thinking about buying or selling the gold mini and silver contracts. Does anyone have any experience in the mini market? I wonder how liquid the mini market is. Thanks
Gold is much better than silver, as there are lots of people doing arb. You can get free quotes at www.cbot.com showing bid & ask, so you can decide for yourself if the spread is tight enough. Right now, the spread is 358.50 X358.80 in dec gold minis, about typical, a hair wider than comex full size. Jessie
Liquidity is pretty good on the Gold mini, don't know about Silver. I watch Gold everyday and almost went long today but it just didn't look that good and collapsed 2 dollars shortly after I canceled my LMT order. That said the orders stayed there for a while as I kept moving it, trying to get an execution between the spread. But to no avail. Be careful with Gold it's kinda unpredictable IMO. I have been trying to get info about the limits up/down in Gold and any data from the Government or industry that may affect that market. Can anyone help?
During RTH, there's a 30 up market about 60-80 cents wide, and also smaller orders to tighten it up. Right now it's 20 cents wide 13x1.
trade a little 3-5-10 contracts a side daily in the YG mini gold .... a week ago I did 30 - 40 side , but that was way too much for me ... even with IB's rock bottom commissions of $1.50 a side all included. the 30 X 30 stuff is the liquidity quote provided by the lead M.M. under contract to the CBOT I believe the smaller stuff 9X9 , 6X6, 3X3 1X1 is smaller , and smaller spec 's like me
you can see where the cash market is at kitco you have to add the EFP ( spread between spot and August for example ) to their middle to get an idea where futures should be trading at also ... the USD movements and equity movements of the sector xau . hui , gox and knowing where overnight range was (on access system for clearing members and locals) can help too
Can the cbot.com volume info be right ? It says mini gold traded 379 contracts today (yes that's hundreds)