I am tired of day trading, but overnight margin is too high

Discussion in 'Trading' started by APA, May 17, 2008.

  1. APA


    I've done the calculation

    with IB overnight margin I can't keep the kind of results I want

    no I didn't reach ES liquidity limit

    do you think if I was UBER-rich that I would be posting here (though there are few guys here like that)

    what happened is that I want to go completely OFF day trading

    does anyone know a good futures broker with low overnight margin

    and please don't send me to a bucket shop cause I would pull my sako 85 rifle (brand new) and start taking people out :)
  2. Here's a link to the exchange minimum margins

    For the ES
    Type of trader - Initial Margin - Maintenance Margin
    Spec - $4,500 - $3,600
    Hedge/Member - $3,600 - $3,600

    A lot of brokers will give you the exchange minimum margins, just make a few phone calls. I woud think the IB would give you exchange minimum margins as well. Do they?
  3. APA


    IB already does

    what I am sayin is it ain't good enough
  4. oraclewizard77

    oraclewizard77 Moderator

    No, what you are saying is that you don't have enough capital to trade. I would suggest you get a job and save up enough money if you want to trade.

    Trading is a business and if you don't have enough money to run your business then you are just gambling.

  5. APA


    YES YOU GOT ME oh my god you got me

    just one thing, I kind of don't care that you exposed me as fraud

    I am looking for a broker with low overnight margin

    do you know one or not ???
  6. All brokers are required by the regulator (exchange and CFTC) that the customers have the maitenance overnight margin in effect as required by all accounts.

    While you can get a good intraday margin, sometimes as low as $500, the minimum for overnight is the same across the board.
  7. I'm surprised the OP doesn't know this. :eek:

    Look around and change your instrument if the ES is too high for you (YM maybe), but the overnight minimum's are in place for a very good reason, and you can't change them unless you're Chuck Norris. :p
  8. Look, unless you go to a shop that's unlicensed, you're not getting lower then the EXCHANGE MANDATED MINIMUM MARGIN.

    Even members of the exchange have to cough up that margin.
  9. He does have a weapon though - maybe that would help.
  10. at what time does IB overnight margin kick in?
    #10     May 17, 2008