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Lowest Account Minimums?
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Lowest Account Minimums?

  #31 (permalink)
Elite Member
Toronto, Ontario
 
Futures Experience: Advanced
Platform: NinjaTrader, Multicharts
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Snoop's Avatar
 
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You have to love how some brokers interpret the rules in whatever way will benefit them.... oh and their clients too


Big Mike View Post
Well, if you really wanted to, you could close it at the end of RTH and re-open it at the start of the night session, depending on instrument that is 15 minutes to a few hours later. Assuming you could afford the increased commission costs based on the reward of the position.

Mike


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  #32 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
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mattz's Avatar
 
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I would like to discourage the behavior of placing trades after the market closes if you don't have the margins. If you are a day-trader, then closing your positions, counting your P&L and consolidating should be part of your routine regardless of negative or positive P&L.

There is always the temptations to reopen positions after hours, but if you have a large positions over-night or one that requires full margin and you are under margin, you could be restricted in the future even if technically it's a new day.
Over night exposure, imho, it's a big risk.

The margins are also set to protect you against adverse market move, don't look at it as a restriction rather as a helping guide. If you are a swing-trader be prepared to operate with the type of capital that justifies your method. i.e enough money for over night.

Be safe.
My 2 cents.

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  #33 (permalink)
Site Administrator
Manta, Ecuador
 
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I agree with mattz and didn't mean to make it sound otherwise. This entire thread will, in general, attract only people who cannot afford to trade (underfunded). Yes sure, there are some people who just want free data and will fund a minimal account, but vast majority asking the question of "who has lowest margins, who has lowest account opening" are people that can't afford to trade.

Mike

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  #34 (permalink)
Market Wizard
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Big Mike View Post
vast majority asking the question of "who has lowest margins, who has lowest account opening" are people that can't afford to trade.

Right on the money Mike! at the same time the exact same people spend thousands upon thousands on education each year.

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  #35 (permalink)
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How Much Trading Capital Do Forex Traders Need?
http://www.investopedia.com/articles/forex/10/trading-capital.asp

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