This is to avoid the chance of having customers in a limit up or down market on the open with not enough margin.
tele, try your trading system with the YM/NQ instead of ES or ER2. they require much less margin. ps you don't get $500 margin on the ER2 at global.
Quah wrote: I'm using a trading system that requires trades to be entered 3 minutes before the market opens and it works. I've been using this system over a year now and haven't come close to having a losing month. I don't consider this to be high risk.
Right volente, I was trying to make a point to 50 cent who said my initial post "nothing could be further from the truth". I understand how and why margins work they the way they do, but not sure 50 did/does.
You didn't answer my question - you are complaining that IB wont let you enter the market 3 minute early without full margin because it isn't "high risk". My question to you is this - how many minutes before the market open does it, in your opinion, switch from "high risk" to "low risk"? In other words, what time do you think IB should start allowing day margins - and why do you pick that time? edited to add: wow, you've been using this sytem for over a year, never comes close to losing, and you are worried about having to pony up full margin? Seems to me that wouldn't be an issue at all which such success.
If you are just going to keep griping and crying like a baby why don't you just get off this thread? You really sound like you are professional griper instead of a trader. Grow up dude. You can't always get what you want. Duh.
You are kidding right. Nothing high risk about opening a position right before the most volatile time of day? You must be a rookie.
He hasn't been using this so-called system for a year. He can't even find a broker that will let him do it. He must be a profitable paper trader... LOL... Then he tries to make his first trade and woolah! Can't do it because IB has margin rules. Surprise!...
Version77 you are a moron. I started this thread to get help finding a broker that didn't require an extra $2,000 margin for entering trades 3 minutes before the open and I received the help I needed. My problem is solved. The only one complaining here is you. I've got a system that works for me and I don't give a rat's behind whether you believe it or not. I don't have any problem trading the system on IB. It's just that it's doing so well that I want to increase the number of contracts I can trade so I can increase my profits. I wouldn't be looking for more leverage if my system wasn't working. Don't you have better things to do with your time than trying to derail threads?