As long as you understand that each MES contract value is currently around $20,700, so x20 lots equates to over $400k and if market does go into a lengthy decline you can get stuck holding bag of shit for months then it's OK as a strategy for stock index futures IMO. I don't do it, but to each his own.
Rt or wrong, I hv always been complacent with margin valu instead of notional. Mes margin is 1210. Es is 12100 at the moment.
LIFO/FIFO whatever blows your skirt up. When I was in college, I worked for a while at the accounting tutorial lab. We were going to get two dogs as mascots and name them LIFO and FIFO. Not a very funny story unless you're stuck teaching in an accounting lab.
Just sold an MES 5/14 4070P for 31.50 (157.50) Probably very early, but I see a rally on the horizon and will be adding.
here are some thoughts. swing high rth is around 4232 5% down is 4020 area. 4000 is big round number ES spent lots of time in 3950-3975 range trying to break thru resistance. if we get more weakness here, those are levels ill be watching.