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FCM/Broker Comparison
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FCM/Broker Comparison

  #11 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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lolu View Post
I have a similar question, but on TransActFutures.

With a deposit capital of $6,000, what should be my DAILY LOSS LIMIT for 6E, GC, YM, and NQ on TransActFutures ?

Lolu

This is straying off-topic, you should really start a new thread since a daily loss limit is not broker dependent. The topic is a very important one and deserves it's own thread.

Recommended amounts are 1-3%. So with $6,000 a 3% risk is $180. I went into a lot of detail about this in my advice thread in this post (#347):
https://futures.io/psychology-money-management/1415-big-mikes-day-trading-method-advice-35.html#post29321

In trading, the only thing you can know for sure is your risk. You can control risk, and it is crucial to do so. If you find 3% is not enough to comfortably trade the instruments you've named (I would say for sure you can't on 6E and GC) then you might look for other instruments in the meantime until your account is built up some. In the beginning, you should focus on just positive expectancy, forget the amount of dollars in winnings.

Mike

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  #12 (permalink)
Elite Member
Lagos, Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader, SierraChart
Favorite Futures: Euro Currency & Oil
 
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MoreYummy View Post
So you have 1 similar question to which one?

And to your second question, it is up to your style and tolerance to lose, as well as your strategy as a whole.

Only 1 question; if my DAILY LOSS LIMIT is the same as your DAY TRADING MARGIN.

So, are they the same ? If NO, please, what is the difference ?

Lolu

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  #13 (permalink)
Site Administrator
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Futures Experience: Advanced
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Favorite Futures: E-mini ES S&P 500
 
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lolu View Post
Only 1 question; if my DAILY LOSS LIMIT is the same as your DAY TRADING MARGIN.

So, are they the same ? If NO, please, what is the difference ?

Lolu

I hope MoreYummy will answer naturally, but in my opinion no they are not at all the same. Daily Loss Limit is a risk amount that the trader is willing to lose before they walk away and are done trading for the day. You can also have a loss limit per trade in the same fashion, a percentage of your capital you are willing to risk per trade as a stop loss.

Day Trading Margin is how much intraday and overnight margin your broker requires in order for you to trade a specific instrument. For instance, Mirus Futures requires a $2,500 initial deposit, and then $1000 per contract intraday margin for CL (I am unsure of the overnight margin, but it is set by the Exchange itself, not your broker).

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.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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6)
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  #14 (permalink)
Trading Apprentice
Toronto/Ontario
 
Futures Experience: Intermediate
Platform: Turbo, Ninja, MT
Favorite Futures: ES, GC, CL, FDAX
 
Posts: 33 since Mar 2010
Thanks: 0 given, 1 received

day trading margin has nothing to do with daily loss limit. As big mike has mentioned.

daily loss limit is set by you, your plan, your tolerance etc.
day trading margin is set by your broker, or regulator depends on your holding time.

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  #15 (permalink)
Elite Member
new york
 
Futures Experience: Beginner
Platform: SC, NT
Favorite Futures: CL, GC
 
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MoreYummy View Post
What is the day trading margin for /ES, /CL, 6B on IB?

It's 50% of whatever the require margin.

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  #16 (permalink)
Trading Apprentice
Toronto/Ontario
 
Futures Experience: Intermediate
Platform: Turbo, Ninja, MT
Favorite Futures: ES, GC, CL, FDAX
 
Posts: 33 since Mar 2010
Thanks: 0 given, 1 received

The margin 50% that set by exchange ?

Do you know the spy's intraday margin in IB?

Which one is better SPY or /ES?

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  #17 (permalink)
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cw30000 View Post
sysot1t

Thanks for the comparision chart. I just want to point out 1 thing for IB. The rate you posted for IB is bundle rate, and I doubt it anyone who did the math between bundle and unbundle rate will ever use bundle rate.

For ES, which I trade, the unbundle rate is $4.70 RT for the first 300 contracts (150 RT), then dropped to $4.30 RT for the next 700 contracts. Then from 1001 to 10k contracts on, it's $3.8 RT.

yes, I used the bundled pricing for IB, personally I use the unbundle as well since it is to my advantage and due to volume.

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