Yes, you're correct. I found everything's wrong on my side. I need to change my broker first. I know what should I do.... I like TDA TOS for its simplicity.
You need to get rid of your broker. You are NOT getting the correct SPAN margin credits I have not seen any discount broker that knows WTF they’re doing with spread positions. https://www.cmegroup.com/trading/en...§or=NATURAL+GAS&exchange=NYM&pageNumber=1
Not many of the brokers out there do, and it confuses the hell out of me. Why do brokers/FCM not offer the SPAN credit to their customers, when the exchange offers the SPAN credit to the broker/FCM? What is going on there?
Discount brokers need a lot of account turnover. That’s why they target small retail speculators - hopefully day traders. They aren’t going to cater to proprietary firms, institutional accounts, commercial accounts, hedge funds, and sophisticated independent traders. Any top tier Chicago FCM - RJ O’Brien, Rosenthal Collins Group, Advantage; will have the Risk Controls to properly margin exchange spread positions. If you want to trade a big boy strategy, use a big boy FCM. As I’ve said previously - I’ve had hundreds of clients start out with very modest accounts at those firms. Especially Advantage.
I think what I meant to say there, is why does the exchange offer the credit to the broker (reflected on the broker statement), but then the broker says "That does not count"? I dunno. We may have to VOX that one.
And what I meant to say is that discount brokers are too cheap to hire a competent Risk Manager and to pay for a decent risk monitoring platform. They’ll give you four times daily buying power for ES if you scalp, though. All about the turnover $$$$
TD Ameritrade is one of the worst place to trade futures (spreads and outrights): 1. They don't offer day trading margin on outrights. 2. They don't offer margin offset on on intermarket spreads. As bone said, find an FCM. I only use TDA for charting. The charting is very good and simple.