Futures :: Forex Trading

T-Note Prices

I just bought some more T-notes.
And once again I am not sure of their value or how to order them.

I sold one contract at 117.000 and bought it back at 116.000 and made $1000

So I know it's a thousand bucks for a full point, from my statement I also figured out that they trade in 32nds. Each whole point is broken down into 32 parts each worth $31.25

Because I sold one at 116.20 and it closed at 116.09 and that gave me a $343.75 profit.

That makes 11/32nds at $31.25 each for the total of $343.75

The part I still can't figure out is that some of the quotes are in decimal, so 116 and 16/32 is displayed as 116.50

This makes ordering and quotes a little complicated to follow.

My statement also shows a price of 116-07.5 so there are half prices also.

I also have a price quote on my statement of 116-09 and 116-20

So if I keep watching the prices I should be able to figure out what system they are using eventually.

Monday, February 18, 2008