AMP Margin for Positions opened in night times

Low daytrade margins are a great thing.

 

Except even during the flash crash the ES only dropped 35 points in the first 4 minutes if I recall. I think it took around 35 minutes to fall roughly 100 points. I was trading that day and unless u had a 100+ lot on the liquidity was still there to exit even with a wide spread. Was it ideal? No but if you wanted out it was there.

 

Why are you hung up on amp ?

Hell global futures offer $300 day trade margins.

 

Yep, these guys blabbing are extremely misinformed. The Swiss Franc deal was the real disaster in recent history.

 

Seems you came around full circle after having vehemently disagreed on this issue before.

 

Right, that's why some poor chap is dragged out of his London apartment and blamed for billions in losses . After all it was just another day.

 

What he's saying is you could have got out of your losing positions if you traded with stops.

 

I am not on amp in particular. I just think those FCM reps in aggregate are total tools who have zero clue. They are your typical dinosaurs who all claim they have been at the CME floor, which means absolutely zero given they still have to pull a car dealer salary today by shilling. I do not believe they understand the slightest about risk management and certainly do they not have the slightest interest to protect customers.

But here is the story in a nutshell: never never ever trust someone who tells you that they have your interest at their mind unless their motivations are perfectly aligned with yours. Here they get paid more, the more idiots and beginners they are fishing out of the pond. They have absolutely zero, nada, niet to offer an experienced and profitable trader.

 

My guess is you bash these FCMs but you really don't know much about them.

 

That is only true for part of the move during the flash crash. I know of several guys if they had gotten out they would have gone instantaneously bankrupt as their positions were deep in the red already. They held on, and guess what. They got no margin calls whatsoever. Their brokers and FCMs should have forced the closure of those positions because they were in violation of exchange mandated requirements. Either the exchanges or the brokers/FCMs let them off the hook which only worked out because the market ticked right back and because of the total carnage and chaos in the market. It would have turned into a huge disaster had the market stayed at the lows or even dropped further. Point of the story is that such behavior put everyone else at great risk.