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ES Intraday Margin Hours?
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ES Intraday Margin Hours?

  #1 (permalink)
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ES Intraday Margin Hours?

Hi Everyone:

I've used google quite a bit, and searched on here and can't find the answer to the following. I've been trading futures in demo for a couple of months now. Im getting ready to go live, but I had the following hour and margin questions.

With ES what are the hours for Intraday Margin? When they say you need to close the trade prior to the end of the session or overnight margin is in play are they talking be out of it prior to close of NY trading session? Or is it the trading hours noted on the contract spec?

Thanks

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  #3 (permalink)
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Branzol View Post
With ES what are the hours for Intraday Margin? When they say you need to close the trade prior to the end of the session or overnight margin is in play are they talking be out of it prior to close of NY trading session? Or is it the trading hours noted on the contract spec?

The safest answer is... Ask your broker.

Some brokers have different ways of considering this.
Most say close at the end of the exchange session but you can reopen it at the evening hours and start another 'intraday' margin.

But still best to Ask Your Broker.

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Thanks David, spoke with my broker today. He got me straight on the way they do it.

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I trade using AMP Futures. Currently, they freeze $400 per contract until you have exited the trade, at which point your money is no longer tied up. The amount frozen depends on volatility. If I recall correctly they were freezing $700 per contract for a bit after the flash crash due to higher volatility. The amount frozen doesn't change all that often. The last I heard, if your account size is below $5k (verify with whomever you trade through) you can't go overnight. If below that amount I believe AMP takes you out of any open trades at about 16:07 ET and charge more than if you exited the trade on your own. The US market for ES (differs on holidays) opens at 9:30 ET to 16:15 ET and then re-opens at 16:30 ET. Staying in past 16:15 is considered going "overnight". You can enter after 16:30 but if you are in a trade between 16:15 and 16:30 you are considered overnight. I hope this helps!

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Branzol View Post
Thanks David, spoke with my broker today. He got me straight on the way they do it.

Could you please explain what they told you?

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Could you please explain what they told you?

I was told the following scenarios, to explain it. But I was also told it differs from broker to broker. All times are EST. These were all in reference to the CME Index's as well(NQ,YM,ES,NKD..etc). Other futures have a different set of rules.

If its Monday at 4AM and I enter a trade I have to exit that trade Prior to 3:15PM. Or I would require Intial Margin/Maint. Margin.

At 6PM Monday I can now re-enter a trade and hold that trade until 3:15PM Tuesday if I wanted to and not require Intial Margin/Maint. Margin.

I was told I only need Intial/Maint. Margin if I carry through 3:15PM-6PM. Hopefully that helps.

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Branzol View Post
All times are EST.

I have to exit that trade Prior to 3:15PM. Or I would require Intial Margin/Maint. Margin.

I am more than sure that is Central time, not Eastern. Why would they make you exit 1 full hour before market close?

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Pedro40 View Post
I am more than sure that is Central time, not Eastern. Why would they make you exit 1 full hour before market close?

I was told EST. I'll confirm, but I did ask that question when I spoke with them.

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Our FCM dicatates that 5PM is the cut off for day trading.


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