Daytrading margins for futures

Discussion in 'Index Futures' started by sasha1, Mar 16, 2002.

  1. sasha1

    sasha1

    The daytrading margin for stocks applies 8am-8pm.
    Given that e-minis are traded around the clock, does that mean that the daytrading margin applies 00.00-23.59?

    Also, can somebody tell me which exchange provides the data feed for ZDM2 (a/c/e traded Dow Jones futures)?
     
  2. wild

    wild

  3. Jaba122

    Jaba122

    Daytrading margin for futures applies from 9:30 am till 15:50. Somebody please correct me if I'm wrong, but I believe it's a standard rule.


    Jaba
     
  4. I have always wondered why a broker like IB, ect will not give you
    that last 10 minutes of daytrading margin untill 16:00?
     
  5. Most brokers offering day trading margins revert margins at 4:15 EST.

    IB, reverting at 3:50, is the exception. Makes you wonder why.
     
  6. Pabst

    Pabst

    Index futures can be extremely illiquid after New York closes. I don't think any one is best served by being blown out of a position right on the bell. And as far as some of these non clearing FCM's that allow you to trade on a shoestring...be careful. Some aren't the most reputable or stable shops around.(e-local an exception. I Don't trade there but have known the principals for many years. Stand up guys)
     
  7. Pabst: could you expand about the shops giving daytrading margins that you don't like, or at least give clues who are they? is any of them offering J-trader? Does any of them has a "history" at the NFA? I think all futures daytraders present here would appreciate it.

    Yes, it's not advisable to ALWAYS keep turbo-leverage on at the close, but SOMETIMES there are opportunities that I'd like to seize.

    So a broker that does not give me that choice is more expensive to me in terms of profit opportunities that I can't take advantage of.
     
  8. I would think this would vary from broker to broker. Mine will allow me to trade (day) on 1/4 margin for a 24 hour period (0000 to 2359) thus I can trade the minis for roughly $1000.
     
  9. DblArrow:
    who's your broker? how much the commish, which software? how about connection reliability, phone backup, etc.? thanks
     
  10. Pabst

    Pabst

    Buzzy: IMO the most expensive broker is one who goes under with my $. This FWTG business should be a wake up call to those who think that just because a firm has a web site and an "association" with a CME clearing firm, everything is kosher. As Don Bright would say" look at those balance sheets carefully." As much as I have issues with IB reliability and customer service, I would rather and I kid you not, have my money with Timberhill(IB) than with the Morgan's and Citi's of the world.(now THAT's derivative risk)

    In the last 3 1/2 years I can think of at least 3 times that Spoo's have rallied around 50 pts without really trading.(all on surprise rate cuts)If any of you remember the 10/98 Asia crisis, Dow futures rallied like 400 pts in a couple of minutes. If the markets were hit with horror news i.e. an assassination, or new terror the associated meltdown could blow out many on "20 pt." margins, many undercapped FCM's, and dare I say a few 10x prop firms.
    Hope it never happens, but like all bad things it probably will.
     
    #10     Mar 17, 2002