London Silver displays both ask and bid prices simultaneously. Go long and open a position at the ask price, and close the position referencing the bid price. Go short and open a position at the bid price, and close the position referencing the ask price. This logic is identical to that of London Gold.

Full Workflow for Long Trades

Assume silver’s ask price is 50.020 and bid price is 50.008. You anticipate a price rise and enter a buy order at 50.020. When you want to close the position later, refer to the prevailing bid price. If the bid price rises to 50.520, the price movement is calculated as 50.520 minus 50.020.

Workflow for Short Trades

If you open a short position by selling at 50.008, you will use the ask price to close the trade later. If the ask price drops to 49.508, the price movement is calculated as 50.008 minus 49.508.

Why a Small Floating Loss Appears Right After Opening an Order

The ask price is normally higher than the bid price. If you close a long position immediately after opening, you will incur the spread. The same rule applies to short positions. A small negative value shown on a newly opened order is usually caused by the spread.

Each London Silver Lot Is 5000 Ounces; Spread Impact Is Magnified

Even with a spread of only $0.012, one lot equals 5000 ounces, resulting in a theoretical spread cost of approximately $60. Larger lot sizes amplify this impact.

Do Not Forget the Opposite Quote for Closing Positions When Reading K-Lines

Sometimes the chart price appears to return to your entry level, yet your trade has not broken even. This is often because position closure uses the opposite side quote. For trade reviews, directly refer to the entry and exit prices recorded in your order history.

Long Positions: Open at Ask Price, Close at Bid Price

Like London Gold, London Silver has both ask and bid prices. For long trades, positions are opened at the ask price. Closing a long order means selling the position, so you close out using the bid price.

Suppose silver’s ask price is 50.023 and bid price is 50.000. You buy 0.1 lot at 50.023. Later you close the trade when the bid price rises to 50.500. The price difference is calculated as 50.500 minus 50.023.

Short Positions Work in Reverse

When going short, you open the position at the bid price and later buy back the contract at the ask price to close it. Assume you sell 0.1 lot at 50.000, then close when the ask price falls to 49.523. The price difference is calculated as 50.000 minus 49.523.

Mixing up trade directions will lead to manual miscalculations of profit and loss. When reviewing trades, first confirm whether it is a Buy or Sell order, then check the corresponding closing quote.

Why Two Silver Prices Are Shown at the Same Time

The gap between the ask price and bid price is the spread. Lucky Gold applies floating spreads for London Silver. The gap between the two prices may differ during quiet markets and periods of sharp volatility.

If you reverse and close the trade right after opening, the spread will affect your result. New positions therefore seldom start at zero profit and loss.

How Large Is the Impact of a $0.023 Spread Across Different Lot Sizes

Take the floating spread of $0.023 specified in current trading terms as an example: one lot of 5000 ounces corresponds to roughly $115; 0.1 lot equals approximately $11.5; 0.01 lot is about $1.15. Actual spreads fluctuate; final pricing is subject to real-time quotes on the trading terminal.

This shows you cannot dismiss $0.023 as a small number. Silver has a large contract unit, and the true impact only becomes visible after converting the spread into the total trade value.

What to Focus on in Actual Trading

You may refer to K-lines to judge market direction, but verify trade profit and loss using the actual entry price, applicable closing quote, lot size and fees. These two scenarios require different data and are easier to assess separately.

If you conduct your own trade reviews, record both quotes If you only capture a K-line screenshot, it will be hard to reconstruct the spread afterwards. A better practice is to record the ask and bid prices at entry, and do the same at closing. This helps you calculate direction and P&L and also identify spread widening, which is especially useful for reviewing short-term trades.

Keep Both Bid and Ask Quotes Visible When Checking Orders

If your trading interface can display Bid and Ask simultaneously, keep them enabled rather than only viewing K-line charts. When preparing to close a long position, watch the bid price; for short positions, watch the ask price. This reflects real executable market conditions. Especially during periods of widening spreads, relying only on the mid-price can make you overestimate how close you are to take-profit or underestimate the distance to stop-loss triggering.

Risk Warning: Spreads fluctuate according to market conditions. Actual execution results and profit or loss shall be subject to the records on your trading terminal.