All That Glitters May Be Gold (If You Are Night Trading Emini Futures)
For those of you who work all day and would like to augment your income with some "work" at night, in your pajamas, read on. This article is for you. Working at night takes on a whole new meaning when buying and selling gold futures after hours.
Futures trading occurs 24 hours a day, 5 1/2 days a week. There is only one really bad trading day....Saturday. And that's because the market is closed.
Why choose gold futures? In a nutshell, liquidith (how fast you can go from being in a position to being back to cash). Literally thousands of gold futures contracts exchange hands every day so you will not be "in it for the long haul."
Lets talk specifics...Gold futures trade about 200,000 contracts daily. That's good volume and provides the liquidity needed to get in and out of positions quickly. To daytrade gold, you'll need about $1000 per contract. For every tick (price fluctuation) in your direction, you earn $10.00. If that risk / reward ratio seems high, there is an emini gold futures contract for $500, and pays $3.30 a tick. The emini gold futures contract does not have the same heavy liquidity that the gold futures contract does, but it is a slower market for novices first learning to trade. Moreove, it gives you a chance to learn to trade without blowing out your account. At $3.30 a payout, if you have a bad trading day, you might lose $25. Compare that to trading 500 shares of some stock where you could lose a couple thousand.
Emini futures were designed for smaller investors who can not risk a lot of money and who want to have a business without a staff, customers, inventory, rent, almost no overhead and can be operated from anywhere in the world. The only requirement is a laptop and an internet connection. Trading gold emini futures contracts fits the bill precisely. Small startup investment with no long term involvement.
So if you are looking for gold, there is no need to pan for it....the glitter is already available to you, 24 hours a day.