I have been going over the different
contracts that can be traded on the Metals ( those on the
CME/NYMEX and I.C.E. exchange )
My question is.... does anyone trade any of the
futures contracts aside from .... GC for gold and SI for silver
I went on both the CME and I.C.E. exchange websites, to look at the Volume and Open Interest of the regular contracts, as well as the ( miNY, mini and micro ) contracts
From my analysis :
Gold..... QO ( miNY )
contract = Volume of 103
MGC ( micro ) contract = volume of 701
YG (mini and on I.C.E exchange ) contract = volume of 2
ZG ( 100 oz. I.C.E. exchange ) = volume of 0
Silver...... QI ( miNY ) = volume of 23
YI ( mini and on I.C.E. exchange ) = volume of 225
ZI ( 5000 oz. and on the I.C.E. exchange ) = volume of 0
Clearly , all of this contracts have far less volume than the big ones .... GC and SI
My question comes down to ..... has anyone traded / still trades any of the formentioned contracts ?
I'm looking mainly, for a way in which I can day trade silver for around $500 intra-day margin ( and on a contract that has good daily Volume and Open Interest )
Lastly ,
which is more Important when Day Trading any of the Futures contracts ..... Volume or Open Interest ?
And what is the bare minimum number for both Volume and Open Interest that you want to see , to trade any of the Futures ..... to make sure there's enough liquidity and participation for that contract ?
Thanks for the help - Michael
Is there a recommended and safe number of Volume and or Open interest you want to stay away from
and which has more weight ..... the Volume number or the Open Interest