London SilverSimultaneously display the buying and selling prices. When trading, use the buying price to establish a position and close the position based on the selling price; When shorting, open a position at the selling price and close it at the buying price. This logic is consistent with London gold.

How to go through the complete process of doing long

Assuming the buying price of silver is 50.020 and the selling price is 50.008.

You judge that the price will rise, so you buy at 50.020. In the future, if you want to close your position, you need to look at the selling price at that time.

If the selling price rises to 50.520, the price change will be calculated by subtracting 50.020 from 50.520.

How to go short selling

If you sell and establish a short position on 50.008, you will need to consider the buying price when closing the position in the future.

The buying price has dropped to 49.508, and the price change is calculated by subtracting 49.508 from 50.008.

Why does the order have a slight loss when it is first established

The buying price is usually higher than the selling price. If you close the position immediately at the selling price after buying, there will be a price difference in between; Selling warehouses is the same.

So when a new order starts with a small negative number, it usually depends on the spread first.

Silver is priced at 5000 ounces per lot, and the spread effect will be amplified

Even if the difference between the buying and selling prices is only 0.012 US dollars, one lot corresponds to 5000 ounces, and the theoretical spread amount is about 60 US dollars.

The larger the number of hands, the more pronounced the impact on this part.

Don't forget to close the position using the other side quote when looking at the candlestick

Sometimes the chart price appears to have returned to the opening point, but the order has not fully recovered, often because the actual closing position is looking at the price on the other side.

It is best to directly look at the opening and closing prices in the order records for a review.

Buy position, open position based on buy price, close position based on sell price

London silver, like London gold, has both a buying price and a selling price. When doing more, establish a position using the buying price; Ending this long order in the future is equivalent to selling the position, so when closing the position, look at the selling price.

Assuming the buying price of silver is 50.023 and the selling price is 50.000, you buy 0.1 lots at 50.023. Afterwards, the selling price rose to 50.500 and the position was closed, with the price difference calculated as 50.500 minus 50.023.

Selling the warehouse is exactly the opposite

When shorting, first establish a position based on the selling price, and when closing the position, use the buying price to buy it back. Assuming you sell 0.1 lots at 50.000 and then the buying price drops to 49.523, the price difference is calculated by subtracting 49.523 from 50.000.

Once the direction is reversed, calculating profits and losses by hand will be wrong. The first step in reviewing is to confirm whether to buy or sell, and then look at the corresponding closing price.

Why do you see two silver prices at the same time

The distance between the buying price and the selling price is the spread.Wmax · 威马证券 currently uses floating spreads for London silver, and the distance between the two prices may vary between stable and volatile markets.

If an order is immediately closed in reverse when it is first established, it will be affected by this price difference, so new positions usually do not start from zero profit or loss.

How big is the $0.023 price difference in lots

Taking the floating spread of 0.023 US dollars listed in the current trading rules as an example, 1 lot of 5000 ounces corresponds to approximately 115 US dollars; 0.1 lot is about 11.5 US dollars; 0.01 lots is about 1.15 US dollars. The actual spread may vary, and ultimately depends on the real-time terminal.

This also indicates that we cannot just look at "0.023" and think that the value is too small. The silver contract unit is very large, and the real impact can only be seen after replacing it with a whole order.

What should be considered more in practical operation

When looking at the direction of the market, you can look at the K-line. When checking the profit and loss of an order, you need to look at the actual opening price, the current price on the side that can be closed, the number of lots, and the cost. The information used in the two scenarios is different, and looking at them separately is actually clearer.

If you want to conduct a self review, it's best to directly record the quotes from both sides

When taking a screenshot, capturing only one candlestick makes it difficult to reconstruct the spread at that time afterward. A better approach is to record the bid and ask prices when opening a position, and likewise when closing. This not only lets you calculate direction and P&L, but also see whether the spread widened at the time, which is more helpful for reviewing short-term trades.

When reviewing orders, it is best to display both bid and ask quotes at the same time.

If the trading interface allows Bid and Ask to be displayed simultaneously, it is recommended to keep them enabled rather than relying on just one candlestick. When preparing to close a long position, observe the bid price directly; when preparing to close a short position, look at the ask price. This is closer to actual executable conditions. Especially during periods when the spread widens, looking only at the mid price can easily overestimate how close you are to take-profit, or underestimate the distance to stop-loss triggering.

Risk warning: Spreads change with market conditions. Actual execution and P&L are subject to the trading terminal records.

伦敦银和伦敦金一样，同时存在买入价和卖出价。做多时，建立仓位使用买入价；以后结束这笔多单，相当于把仓位卖出，所以平仓时看卖出价。

假设白银买入价50.023、卖出价50.000，你在50.023买入0.1手。之后卖出价涨到50.500并平仓，价格差按50.500减50.023计算。

卖出仓刚好反过来

做空时先按卖出价建立仓位，平仓时要用买入价把仓位买回来。假设你在50.000卖出0.1手，后来买入价跌到49.523，价格差按50.000减49.523计算。

方向一旦搞反，手算盈亏就会错。复盘时第一步先确认“Buy还是Sell”，再看对应平仓报价。

为什么同一时刻会看到两个白银价格

买入价和卖出价之间的距离就是点差。Wmax · 威马证券当前伦敦银采用浮动点差，市场平稳和波动剧烈时，两个价格之间的距离可能不同。

订单刚建立时如果马上反向平仓，就会受到这段价差影响，所以新仓位通常不会从零盈亏开始。

0.023美元价差放到手数里有多大

以当前交易细则列示0.023美元浮动点差为例，1手5000盎司对应约115美元；0.1手约11.5美元；0.01手约1.15美元。实际点差会变化，最终以实时终端为准。

这一点也说明，不能只看“0.023”觉得数值很小。白银合约单位很大，换成整笔订单后才看得出真实影响。

实际操作更应该看什么

看行情方向时可以看K线，核对订单盈亏时要看实际建仓价、当前可平仓一侧报价、手数和费用。两种场景使用的信息不同，分开看反而更清楚。

如果要自己复盘，最好直接记录两边报价

截图时只截一条K线，过后很难还原当时点差。更好的做法是记录建仓时的买入价和卖出价，平仓时也一样。这样不仅能算方向和盈亏，还能看出当时点差是否扩大，对短线交易复盘更有帮助。

看订单时最好同时打开买卖双报价

如果交易界面允许同时显示Bid和Ask，建议一直保留，不要只看一条K线。多单准备平仓时直接观察卖出价，空单准备平仓时看买入价，这样更接近真实可成交条件。尤其在点差扩大的时段，单看中间价容易高估自己离止盈还有多近，或者低估止损被触发的距离。

风险提示：点差会随市场情况变化。实际成交和盈亏以交易终端记录为准。