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Glosario de Trading

El glosario de trading se refiere a un tipo de estrategia de trading en la que los gestores utilizan un conjunto predefinido de términos, definiciones o conceptos para tomar decisiones informadas. A menudo implica jerga específica de la industria, métricas financieras y herramientas analíticas para navegar por los mercados de manera efectiva.

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GMT

GMT is the mean solar time at the Royal Observatory, Greenwich, London. Traditionally used as a global basis for timekeeping, it remains a well-known reference for coordinating trading hours, settlement dates, and economic data releases in financial markets across many time zones.

The forex market trading day is typically divided into four trading sessions, each with commonly referenced start and end times. Data releases, option fixes, and option expiries may be quoted in GMT or another specified time zone to help avoid confusion between market participants in different regions.

Example: A trader in Singapore wants to know the exact time of a 4.00 p.m. London market fix. Because the UK changes its clocks for daylight saving time, 4:00 p.m. local London time is 16:00 GMT in winter (when London observes GMT), but 15:00 GMT in summer, when London observes British Summer Time (BST). GMT can serve as a constant reference point, allowing Singaporean traders to determine the corresponding local time while accounting for seasonal changes in London time.

Going long

The act of buying a security with the belief that it will rise in value over time.

Gold

For thousands of years, gold has served as a medium of exchange, a safe haven, and an anti-inflation measure. In contemporary markets, it is traded at both commodity and currency exchanges. It is generally expected to increase in periods of rising inflation expectations, low real interest rates, and high geopolitical risk – and to weaken in periods when interest rates are rising, and the dollar is strengthening.

Gold is also part of central banks’ foreign reserves, and physical markets are active around the world, driven by jewelry, technology, and investment demand.

Example: Gold prices rose from roughly $800 per ounce to more than $1,900 per ounce during the Federal Reserve’s recent aggressive rate cuts, following the general rise in inflation fears after 2008. Those who invested in it as a hedge against dollar debasement would have experienced significant price appreciation over that period. Those who stuck with it during the next rate hike cycle saw gold prices experience periods of significant weakness, although the magnitude and duration of any decline varied. People who held on to it through the next rate-hike cycle would have experienced a different outcome depending on the period measured and whether returns are considered before or after inflation.

Gold contract

A gold contract is a futures contract that is standardized in terms of the quantity of gold covered by the contract, the price that a buyer or seller will pay, and the date on which it will be settled. The most commonly traded futures contract is the COMEX gold futures contract, which is for 100 troy ounces of gold.

Gold contracts enable market participants, including investors, jewelers, refiners, and miners, to gain exposure to gold price movements or manage gold price risk without necessarily taking ownership of physical gold. Depending on the contract and how the position is settled, the difference between the two is often settled in cash – the participants may not actually exchange physical gold.

Example: A gold mining company is concerned about a potential drop in gold prices and expects to produce 10,000 ounces of gold over the next 6 months. It sells gold futures contracts as part of a hedging strategy to manage its exposure to potential changes in gold prices. If gold prices decline, gains on the futures position may offset some of the lower revenue from selling the physical gold, although the hedge may not fully offset the impact of price movements.

Good ’til cancelled (GTC)

An order type that remains in effect until it is filled or cancelled by the trader.

Good ’til cancelled order (GTC)

A good-til-canceled order is an order that remains in the market but is not executed until it is either filled or canceled by the trader. It is the opposite of a good-for-day order for traders with a specific price in mind who don’t want to limit the order’s validity to a single trading session.

Most brokers have a GTC order time limit (typically 30–90 days), which means the order expires regardless of whether it gets filled. The specific time limit varies by broker and trading venue.

Example: If an investor wants to purchase a stock at $62 and the current market price is $71, the investor sets a GTC limit order at $62. Six weeks later, if the stock falls to $61.80 and the order remains active, the order may be executed, depending on the applicable order-execution rules, available liquidity, and the broker’s arrangements.

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