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Philly

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About Philly

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  1. Philly

    Hedging on gold

    Hi Futures, many thanks for the reply. Please stay with me on this as I am very new and don't 100% understand the situation. What about this scenario. What if I did what I said above and opened a short, gold went down to 1200. My long position would mean I would be down £5100 but my short position would mean I would profit from £4000 if I went long at 1280. Could I close my short position and take the £4000 profit and wait for gold to recover to 1300, assuming direction of course. I understand that whilst both positions are open I would not win or loose but what if I close when the time is right? Would that work?? Again many thanks Kind regards
  2. I went long £50 per point on spot gold at 1302. The margin is £640 and my balance is £1500. Can I also go short on Gold (dec) £50 per point in the chance that the market moves the other way? As my balance is on only £1500 it will be down to £840 once I place a short at £50pp. Would the funds from the gaining position add to the available balance and stop my account from closing?
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