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symbol/contract to trade eur/usd with a 30k IB account
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symbol/contract to trade eur/usd with a 30k IB account

  #1 (permalink)
Trading Apprentice
metz,france
 
Futures Experience: Intermediate
Platform: ib
Favorite Futures: es
 
Posts: 3 since Feb 2011
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symbol/contract to trade eur/usd with a 30k IB account

Hi traders,

just a quick question for you: I would like to trade the eur/dollar with the best return on investment using my 30,000$ Interactive Brokers account?
Could anyone point me to the best symbol/contract that would enable me to do this?

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  #2 (permalink)
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  #3 (permalink)
KingK
Toronto, Canada
 
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I think what your asking for is this : 6E

if not please rephrase your question

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  #4 (permalink)
Site Administrator
Manta, Ecuador
 
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With IB you can trade both spot forex EURUSD or the 6E futures contract, it is up to you. It will come down to position sizing and risk to some degree, once satisfied in minimum you can just stick with the futures contract.

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  #5 (permalink)
Trading Apprentice
metz,france
 
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thanks guys, but can I still buy the 6E futures contract even if the price is around 160,000$ with my 30,000$ account?

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  #6 (permalink)
Site Administrator
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sprooz View Post
thanks guys, but can I still buy the 6E futures contract even if the price is around 160,000$ with my 30,000$ account?

Yes, see IB's futures margin here:
http://www.interactivebrokers.com/en/p.php?f=margin&p=fut1

Basically intraday is half of overnight margin. You can lookup the full performance bond requirements on cme's website:
EUR / USD

Man they redid their site, really hard to find the info now. I can't recall exactly, but I think it's $3300 or $3500 or so. So intraday IB's margin would be half that.

IB's margin is very high compared to other FCM's. But this is a good thing in my opinion.

Keep your position risk at 1-2% of your account, so you may want to start with spot forex so you can trade something like 25k vol which is roughly 1/4th the size of the full 6E contract.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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6)
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  #7 (permalink)
Elite Member
Zurich Switzerland
 
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Big Mike View Post
I can't recall exactly, but I think it's $3300 or $3500 or so. So intraday IB's margin would be half that.

There is no half of initial margin.

Initial Margin 3750
Intraday / Overnight Maintenance 3000

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  #8 (permalink)
Trading Apprentice
metz,france
 
Futures Experience: Intermediate
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thanks a lot Mike!

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