>hi there JP
>
>I bought my first contract when gold was at around $264.4 per ounce
>but the contract didnt take into affect until it crossed with
>another contract at around $266.5. Does this mean any analysis i do
>is pointless since my contract will not be bought at the intial
>price i expected it to take affect at?
>
cc: egold list!
Dear Sam:
here's the thing. Say you are trading MSFT on the Nasdaq.
In fact, it works just the same way!
Say you put in an order to do something - let's say, purchase 10
shares of MSFT.
What happens?
The order sits there ... UNTIL SOME OTHER HUMAN BEING, WANTS TO TAKE
YOU UP ON THAT PARTICULAR OFFER.
Indeed, as you so accurately say, all your timely analysis is
useless, because, the order won't happen until some other human wants
to take you up on your offer.
So what's the difference? With MSFT on nasdaq, there are million of
trades per hour. So, it is very unusual that your trade is not
filled within a time period that to humans seems instantaneous.
Unfortunately with BAMDEX, there are only a few trades per hour .. or
even less.
If you've ever traded a very thin market (say, MSFT options that are
way out of the money .. there may only be a few trades per day, or a
thin commodity in a far month, again maybe only a few trades per
day), unfortunately you experience exactly the same thing.
Unfortunately there is no alternative to this (that I know of) -- ie,
Bamdex cannot force another member to take your trade! (Hey wait a
minute .... maybe there's an idea there :))
Note though: the instant your trade is crossed, you will get an email
alerting you to this. So -- if the conditions don't suit you when
that happens, you could close the trade immediately.
>Also, gold is now at 267.7 and yet i have no means of selling it.
>
This part is not correct.... you can happily close a contract any time!
https://www.bamdex.com/examples/close.gif
>It seems that contracts once bought cannot be sold easily until they
>are largely out of the money by more than 4grams or largely in the
>money but since no one can anticipate when their contract will be
>crossed and at what price it seems like a lose lose situation to me.
>
Not really, there's been scores of trades already (120 sides, I think
-- much to my surprise), I already made a couple grams in my personal
account, lost some in ISL's (oopsie :) )
>
>According to your system it seems like i have lost .13 grams of gold
>even though right now the price of gold is higher than what i
>anticipated it to be.
>
>Could be please explain?
>
I'm very sorry that it was not clearly enough explained to members on
the front page and the long note there https://www.bamdex.com/ ----
perhaps a Bamdex member will kindly write a better explanation, or,
I'll try to get around to it.
I hope this email helps!
>regards
>
>Sam Shah
>a/c# 30018
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