Qu for Gilt traders

[splasher]

Does anyone know what time LIFFE take the closing price for the Gilt to be?
It trades until 18.00 but i assume they take the closing price at an earlier time
Also what is difference between closing and settlement price

THx in advance

 

[splasher]

Forget the times i've answered it myself

Would you take the closing price or the settlement price to calculate pivots and resistance for next day?

Any ex locals?

Cheers Splash

 

[TWI]

Believe the settlements are done 30mins prior to close and that is where Liffe mark-to-market variable margin. The closing price is where market closes at 18:00. Sometimes their settlements are very odd and I have a suspicion that they may employ a moron to decides these levels.

 

[splasher]

THanks TW,
Would you use sett price or closing price of future for calcs such as pivot points?
I guess closing as that would determine candlesticks etc??

Splash

 

[Songoku]

Use closing price for calculating pivots and fib levels etc. Settlement in Gilt occurs at 16:15 I think

 

[Songoku]

that sounds specific and technical so I'm going to go with that!
Guesstimating the time from when it changes on my TT screen.
Are you all trading gilts at the moment? Have been on them for about 4 months myself and am having an 'interesting' time of it!

 

[Songoku]

Would agree with that! I follow but don't trade the bund and guess that although it can really move, there is enough liquidity to get out on. Was initially trading it in a responsive manner by buying on support (and v.v.) but after getting caught by blips once too often am thinking a breakout style or jumping on the momentum after it's turned might be better ways to play it. Any insight from a Gilt vet on major dos and don'ts?

 

[Songoku]

Yep, learnt not to average early on. When it gets you it really does get you on the Gilt! Memories of it shooting through you and filling multiple orders on the way too!