What about those $300-$500 Initial Margin Brokers for Day Trading E-Mini S&P 500?

Discussion in 'Index Futures' started by docdoc, Nov 20, 2020.

  1. docdoc

    docdoc

    For the ES symbol:

    I see AMP, NinjaTrader, and Discount Trading all advertising initial day trading (intraday) margins from $300 to 500.

    However, my TradeStation account just confirmed 50% of initial (or $6,600) initial day trading (intraday) margin.

    Also, TD Ameritrade is at 25% of initial (or $3,300).

    These are huge differences. Why? Do the guys with the super low margin requirements just suck (bad fills, no fills, erroneous fills, take your money on fills - like I read in some reviews)?

    What's your experience? Thank you!
     
  2. CannonTrading_Ilan

    CannonTrading_Ilan Sponsor

    Usually brokers who are only futures will give lower DT margins, like us and some of the companies mentioned above. Companies who also offer equities, usually dont have as good as risk system with futures and hence offer higher day trading margins.

    While we also offer $500 day trading margins
    , I personally think a trader should use much higher level per contract with now days volatility and price movement.
     
    ET180 and comagnum like this.
  3. On a contract obligation of $180,000... you'd either have to be a fool or a noob with "stars in your eyes" to think you might "make it" with only $500 margin per. At that, you're playing with <1/3 of 1% cushion. Powell could cut a fart and wipe you out before you could blink!
     
  4. docdoc

    docdoc

    I fully agree that one should have AMPLE cash left in the account, even after entering a position (and regardless of the initial margin required).

    With that said, thank you for the explanation.

    I'm concerned with how well order execution will perform with these (and your) platforms.

    With TradeStation, I have on chart trading, which is super nice/easy. I click a button to enter market order and another set of buttons to either fully reverse the position (one click) or close all positions (one click) or cancel any unfilled positions, one click.

    I can then manually drag and adjust my stop/target orders on the chart after initial order placed (which initial also simultaneously sets my target/stop orders).

    If the fills/order execution are lightning fast/instant, and I could get a similar "one click" enter and exit system, I would further investigate becoming a client.

    I have to use TradeStation for my charting, as the "studies" are proprietary (I don't own the code) and work only on TS. But, I'd like to have the option to use more leverage vs. $6,600 per contract.
     
  5. docdoc

    docdoc

    So yeah - this is an ignorant response. If you care to elaborate, be more educational, and possibly even eek out a little bit of a helpful tone I'd be happy to give you a second chance. Otherwise, take your arrogance and your trolling elsewhere. I'm not listening.
     
    trader79 likes this.
  6. speedo

    speedo

    The fills are fine, using that measure of leverage is not. In fact, I've been more satisfied with fills on AMP and Ninja than I was with Tradestation. Ninja has the same chart trader capability, AMP has a number of charting platforms
    which can be used for free.
     
    They likes this.
  7. Are you DENSE? With that leverage it takes only 1/3 of 1% noise move against your position to wipe you out.
     
  8. docdoc

    docdoc

    That's great feedback and info - thanks for being helpful.

    If I could ask, if you are trading ES, how much cash do you keep in your account per each position you hold on a DAY (intraday) trade?
     
  9. speedo

    speedo

    I am comfortable with about $6-8000 per but I've been trading for a number of years. I could do fine with less but it would decrease my comfort level. I would recommend at least that much for a developing trader.
     
    docdoc likes this.
  10. docdoc

    docdoc

    Sounds like great advice.

    Let me ask you, however, what is your target profit and target stop once a trade is entered? How many points from entry are you targeting either way?

    On a target profit/stop of only a few points, would you be more comfortable using more leverage (typical trade lasting from 5 to 20 minutes, or so)?
     
    #10     Nov 20, 2020