KO
koolblue
Rep: 48,651
Posts: 16,032
Stopped out breakeven on a short from 1274.50, so i tried again at 1278.00. covered at 1277.00.Had to cover because my charts went down! Unfortunately, this trade was only 2 es so im still starting the week down 13!...sheesh
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CharterJoe
Rep: 4,475
Posts: 2,352
Short @ 61.75, reasons were (IB breakdown) breaking away from weekly value. Targeting 55.5
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CharterJoe
Rep: 4,475
Posts: 2,352
Covered @ 53. Major MACD divergence and weekly pivot @ 53.66 +8.75, +21.5 for the day
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NewKid
Rep: 16,470
Posts: 1,915
Guys I had a question for you whenever anyone gets a moment. From what I understand the margin requirement are about 5000 per contract of ES right? So when you are scalping, do you still need to maintain that margin? I have seen some people trading 10-12 contracts sometimes so am wondering if that requires margins of 50,000 - 60,000 or something lesser than that since you do not hold your positions overnight?
PO
popstocks
Rep: 100
Posts: 358
quote:
Originally posted by NewKid
Guys I had a question for you whenever anyone gets a moment. From what I understand the margin requirement are about 5000 per contract of ES right? So when you are scalping, do you still need to maintain that margin? I have seen some people trading 10-12 contracts sometimes so am wondering if that requires margins of 50,000 - 60,000 or something lesser than that since you do not hold your positions overnight?
Most brokerages will offer a day margin which is usually somewhere in the range of $500 - $1200 per contract.
BR
BruceM
Rep: 216,211
Posts: 19,895
best and last fill was at 52.50.....that beautiful low volume zone......amazing stuff........almost 30 points per contract on the last 3 contracts...not bragging just demonstrating the power of profile area.....
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CharterJoe
Rep: 4,475
Posts: 2,352
Newkid,
Margin rates vary from broker to broker. Some have day trading rates from $400-$1500 per ES contract, from 9:30-4:15 only and if you carry overnight with that you'll get a margin call. overnight margin rates are last I checked 4500 meaning you have to have 4500 in your account to hold overnight, and change without notice.
Margin rates vary from broker to broker. Some have day trading rates from $400-$1500 per ES contract, from 9:30-4:15 only and if you carry overnight with that you'll get a margin call. overnight margin rates are last I checked 4500 meaning you have to have 4500 in your account to hold overnight, and change without notice.
NE
NewKid
Rep: 16,470
Posts: 1,915
Thanks Pop and Joe. I appreciate the help. I have always been conservative and maintained the margin for holding it overnight but if I can get away with lower margins, then I can trade more contracts. I shall check with my broker. Thank you for the pointers again.