ES-09-08-08


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  • koolblue
  • 8-Sep-2008 at 3:50 AM
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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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  • koolblue
  • 8-Sep-2008 at 10:50 AM
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0rder cancelled...watching
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  • CharterJoe
  • 8-Sep-2008 at 11:00 AM
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Short @ 61.75, reasons were (IB breakdown) breaking away from weekly value. Targeting 55.5
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  • CharterJoe
  • 8-Sep-2008 at 11:04 AM
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Covered @ 53. Major MACD divergence and weekly pivot @ 53.66 +8.75, +21.5 for the day
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  • NewKid
  • 8-Sep-2008 at 11:08 AM
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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?
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  • popstocks
  • 8-Sep-2008 at 11:15 AM
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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.
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  • BruceM
  • 8-Sep-2008 at 11:15 AM
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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
  • 8-Sep-2008 at 11:17 AM
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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.
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  • koolblue
  • 8-Sep-2008 at 11:29 AM
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buying one at 1255.25
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  • NewKid
  • 8-Sep-2008 at 11:33 AM
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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.
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  • koolblue
  • 8-Sep-2008 at 11:34 AM
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%!@#%... had my order at 1256.00 but lowered it at the last min.! Order cancelled
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  • CharterJoe
  • 8-Sep-2008 at 4:01 PM
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Lost some on that one, I figured on a late day rally. I should have reversed
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