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Bangkitnya STARTRADER

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Bangkitnya STARTRADER

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Pialang dengan Pertumbuhan Tercepat di Dunia

Glosarium Perdagangan

Glosarium perdagangan mengacu pada jenis strategi perdagangan di mana pedagang menggunakan serangkaian istilah, definisi, atau konsep yang telah ditentukan sebelumnya untuk membuat keputusan yang tepat. Hal ini sering kali melibatkan jargon khusus industri, metrik keuangan, dan alat analisis untuk menavigasi pasar secara efektif.

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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.

Good ’til date

A good-til-date order is akin to a good-til-canceled order, except that the trader sets a specific date for the order to expire rather than an open-ended time. If the specified date has passed and the order hasn’t been filled, it will be canceled automatically.

It can provide a trader with greater control over the duration of their orders in the market, which is important when the analysis underlying a given trade is sensitive to the situation and to a particular event or time frame, and the thesis may no longer apply.

Example: A trader is considering a currency pair ahead of a central bank meeting with a limit order that has a ‘good till date’ and expires the day before the meeting. They believe the pair could reach their specified price before the meeting, but once the meeting takes place, they no longer want the order to remain active. The order may fill before the deadline, or expire if it remains unfilled.

Good for day

A good-for-day order is an order to buy or sell that is only active during the day’s trading session. If the market closes without the order being filled, it is automatically canceled, and the order is no longer active. Availability and default settings for this order type vary by broker and trading venue.

The logic is that the order is intended to remain active only for the specified trading session, rather than carrying over automatically to the next session.

Example: A trader places a good-for-day limit buy order for a stock at $48.50, below its current price, indicating the maximum price they are willing to pay during that trading session. The stock never falls to this level, and the market closes at $49.20. The good-for-day order expires without being filled. The trader can then review the position and market conditions before deciding whether to place a new order the following day.

Good Till Cancelled (GTC)

A good till canceled order is an order that remains on the market until it is either filled or the trader cancels it themselves, in any number of sessions in between. It’s different from a day order, which automatically expires at the end of each session. Most brokers have a time limit on GTC orders, usually 30 to 90 days after they are placed, and they expire regardless of whether they have been filled or not.

Example: An investor wants to buy a stock at $62 but it’s currently trading at $71. Instead of watching the screen every day, they simply set a GTC limit order at $62 and move on with their lives. Six weeks later, when the market is falling in general, the stock drops to $61.85 and the order is executed. They did not have to monitor the market continuously; the instruction remained active, and the order was filled when the stock reached the specified price.

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