Gold orderThe most common reason for a slight loss upon opening a position is the spread between the buying and selling prices. When you buy, use the buying price. If you close the position immediately, calculate based on the selling price; There is already a price difference between the two sides, so this part of the cost will be reflected first after the order is established.

You can understand it with just one number

Assuming the buying price of London gold is $4300.15 and the selling price is $4300.00, with a difference of $0.15 between the two.

If you buy 1 lot of London gold, which corresponds to 100 ounces, then a price difference of 0.15 US dollars corresponds to approximately 15 US dollars. That is to say, when an order is first established, even if the market remains stationary, the account may first see a floating difference of about $15.

When trading 0.1 lots, the same price difference corresponds to approximately 1.5 US dollars; 0.01 hands is about 0.15 US dollars.

Short selling will also encounter the same situation

When establishing a selling position, the selling price is used, and future closing depends on the buying price. If there is no change in the market after placing an order and the buying price is still higher than the selling price, the selling position will also be affected by the spread first.

So 'just opening a position is negative' does not automatically mean that the market judgment is wrong. First look at the bid ask spread, and then see which direction the market is heading.

Why does the spread change

Wmax · 威马证券 currently uses floating spreads for London gold. In a normal market, the price difference may be relatively stable, but when encountering important economic data, decreased liquidity, or rapid price fluctuations, the bid ask spread may widen.

That's also why the initial float loss after opening a position with 0.1 lots is greater than usual. By first looking at the buying and selling prices at that time, one can usually find the reason.

Why hasn't the warehouse price been guaranteed yet

Many beginners only focus on one price on the candlestick. Actually, when closing a long position, you look at the selling price; when closing a short position, you look at the buying price. The chart price returns to the position you remember when you opened the position, but it does not mean that the quote on the other side used for closing the position has completely covered the spread.

When reviewing, it is best to keep the actual warehouse price and flat price in the order, rather than making a rough judgment based solely on the K-line.

Spread is a part of trading costs, and holding positions beyond settlement time may also incur overnight fees. The cost structure of short-term and long-term is different. It is more practical to think about these expenses before opening a position than just looking at whether there is a commission.

Where does the first floating loss after opening a position come from

Assuming at a certain moment, the buying price for London gold is $4300.15 and the selling price is $4300.00. You establish a one lot long order at the buy price of $4300.15. If you close the order immediately after it is established, you can only end it at the sell price of $4300.00 at that time, with a difference of $0.15 between the two sides. 1 lot of London gold corresponds to 100 ounces, 0.15 dollars multiplied by 100 ounces corresponds to 15 dollars. That's why the market has hardly moved, and orders may still show a small floating loss first.

If you make 0.1 lots, the same price difference of 0.15 dollars corresponds to approximately 1.5 dollars; 0.01 hands is about 0.15 US dollars. The larger the number of lots, the more obvious the amount reflected in the account for the same bid ask spread.

When can we truly return to breakeven

To return to the theoretical price equilibrium for multiple orders, the selling price needs to rise to the vicinity of the buying price for opening the position; If there is a short order, the buying price needs to drop to around the selling price for opening the position. Many people may find that the candlestick has returned to the entry price in their memory, but the order is still a little short, which is usually related to the quote side, spread, and actual transaction price.

If the order has been held overnight, the overnight interest should also be included. In this way, simply returning to the initial opening price does not necessarily mean that the net result on the account is exactly zero. The final profit and loss displayed in historical orders is the number that should be used for retrospective analysis.

Why does the floating loss suddenly increase when the spread widens

In a stable market, the bid ask spread is usually relatively stable; When major data is released, liquidity weakens, or the market suddenly accelerates, spreads may temporarily change. Even if the middle price does not move significantly, as long as the distance between the buying price and the selling price increases, the floating loss displayed on newly opened orders will also change accordingly.

So when you see a new order opening and losing money, there's no need to suspect that the system miscalculated first. First check the buying price, selling price, lot size, and current spread, and then see if it is during a special trading period. The current trading rules of Wmax · 威马证券 adopt floating spreads, and actual orders are subject to real-time quotes from the terminal.

More practical processing methods

Before placing an order, take a look at the quotes on both sides and estimate the initial price difference cost corresponding to this lot. I have a rough idea of how much floating loss there will be in my account after opening a position like this. For short-term traders, this step is particularly useful because the higher the trading frequency, the more significant the impact of accumulated spreads on the results. For orders with a long holding time, overnight fees should also be considered together, and the price difference at the moment of opening the position should not be solely focused on.

Risk Warning: When the market fluctuates greatly, spreads may change. The actual transaction cost is based on the buying and selling prices and the latest trading rules at the transaction terminal at that time.

点差属于交易成本的一部分，持仓跨过结算时间后还可能产生隔夜费用。短线和长线的成本结构不一样，开仓前把这些费用想清楚，比只看“有没有佣金”更实用。

开仓后的第一笔浮亏从哪里来

假设某一时刻伦敦金买入价为4300.15美元、卖出价为4300.00美元。你按买入价4300.15美元建立1手多单，订单建立后如果马上平仓，只能按当时卖出价4300.00美元结束，两边相差0.15美元。伦敦金1手对应100盎司，0.15美元乘以100盎司，对应15美元。这就是为什么行情几乎没动，订单仍可能先显示一笔小幅浮亏。

如果做的是0.1手，同样的0.15美元价差对应约1.5美元；0.01手则约0.15美元。手数越大，同样一段买卖价差反映在账户里的金额也越明显。

什么时候才算真正回到盈亏平衡

多单想回到理论上的价格平衡，需要卖出价上升到建仓买入价附近；空单则需要买入价下降到建仓卖出价附近。很多人会发现K线已经回到自己记忆中的入场价，订单却还差一点，这通常与报价侧、点差和实际成交价有关。

如果订单已经持仓过夜，还要把隔夜利息一起算进去。这样一来，单纯回到最初建仓价格，并不一定等于账户上的净结果正好为零。历史订单里最终显示的盈亏，才是复盘时应该采用的数字。

点差扩大时为什么浮亏会突然变大

平稳行情里，买卖价差通常比较稳定；重大数据公布、流动性变薄或市场突然加速时，点差可能临时变化。哪怕中间价没有明显移动，只要买入价和卖出价之间的距离变大，刚建仓订单显示的浮亏也会跟着变化。

所以看到新订单一开仓就亏，不必先怀疑系统算错。先核对买入价、卖出价、手数和当前点差，再看是不是处在特殊交易时段。Wmax · 威马证券现行交易细则采用浮动点差，实际下单以终端实时报价为准。

更实用的处理方法

下单前先看一眼两边报价，并估算自己这笔手数对应的初始价差成本。这样开仓后账户出现多少浮亏，心里大致有数。对于短线交易者，这一步尤其有用，因为交易频率越高，点差累计对结果的影响越明显。对持仓时间较长的订单，则还要把隔夜费用一起考虑，不能只盯开仓那一刻的价差。

风险提示：市场波动较大时，点差可能变化。实际交易成本以交易终端当时的买卖报价及最新交易规则为准。