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This seems retardard. Please tell me Im being stupid

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PaulC
Super Contributor
Im short the gold comodity future. I want to go long the WTI oil future. I got this message from OST You can not place the order to Buy 1 WTIO Dec-11 contract because you are already short this contract in a different expiry month (GOLD Oct-11) They are 2 totally different comodities. Can anyone explain why I cant so this. Hell with my global trader I can be long and short the SAME instrument AT the same time! - Paul C
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4 REPLIES 4
SimonPB
Valued Contributor
well long and short the same instrument is just doff, only person making money there is the broker .. in this case (AU/WTI) would be a bug neh ?? just maybe ??
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PaulC
Super Contributor
I have emailed the call centre. Seems a bug. Regarding your other comment. Ive been long gold and short at the same time on GT. I was expecting a pullback but my long term view was up. I didnt want to risk closing the long (which was considerably bigger than my short) and then be wrong and miss the move. I did however expect short term weakness. I made the play with a tight stop on the short. As it turned out I only just made money on the short and the long went on to be a winner. Guess its not common but I feel it has its uses. That said I dont expect OST to offer this. But different instruments ... Yeah hopefully a bug
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SimonPB
Valued Contributor
email will take time to reply .. if urgent call them ..
ya OK so you came out ahead of the long/short .. but I still think it a brokers yatch type of trade .. if you long for long term who cares about some pull backs ??
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Not applicable
Im greedy. I like to take many opportunities :) But yeah I see your point. Not urgent. They are generally good at getting back to me
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