New trader....probably simple question

S

Stosh

Just traded my first gold contract in YG.....made $400....probably should quit now. I noticed that the February contract has far more volume than the other contracts......would appreciate if someone would tell me why. Thanks, Stosh
 
LOL what month were you trading? Did you even take notice?

Honestly, you may want to learn how the contracts work before putting on any live money trades. The fact that you made money is actually bad, you actually think you know what you're doing, when the reality is that you do not.
 
The liquid contract months for gold are:

FEB
APR
JUN
AUG
DEC

As mentioned, FEB is the current front-month and that's why it now has the volume.
 
hey stosh congrats on the first trade being a winner. Like everybody else in here said Feb is front month, it helps when you trade to be aquainted with the months and when the rolls are. There is a lot of good info in these forums and online. I would also recomend going to the library and getting some books. Good luck with your future trading.
 
To be specific, here are the 3 trades I have done in the Dec. and Jan. YG gold futures:

Bought 1 YG Jan 09 828.00 Dec. 14
Sold 1 YG Jan 09 835.00 Dec.15

Sold (short) 1 YG Dec. 08 832.50 Dec. 15
Bought 1 YG Dec. 08 836.00 Dec. 15

Bought 1 YG Jan 09 834.00 Dec. 16
Sold 1 YG Jan 09 848.00 Dec. 16

So, I figure net profit on the 3 trades is about $585. (230 - 115 + 470) Seems like an easy way to make good money. LOL Yes, I don't know what I am doing and NO, I am not going to report back in a month.
Seriously, I am watching the Dec. and Jan. contracts trade on my screen at this moment 6:23 pm CST, so I must deduce from the replies I got that most traders have moved to the February contract, but I don't see why you call it the front month if Dec. and Jan. are still trading.
I have been trading ES and YM for a few months and just decided to try some gold because of Helicopter Ben. Thanks, Stosh
 
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