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Holding a position overnight
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Created: by Delirious Attachments:0

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Holding a position overnight

  #11 (permalink)
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liquidcci View Post
I personally would not hold position overnight on margin with futures. That is extremely conservative and may not be necessary. But crazy stuff can happen while you think your safely tucked away for a nights sleep. Even with a stop in place in can get jumped in thin overnight markets. You try to hold overnight position with 5k and you might wake up owing your broker money. If I need some leverage for overnight positions will use options because at least can cap your losses. Now day trading I can be aggressive with margin but even then I am usually over 5k per contract. Day has its dangers but nothing like overnight. One of the biggest mistakes you can make as a trader is undercapitalization. Leverage is a tool but must be used very wisely.

He should still have some kind of catastrophe stop loss set even if he is carrying a position overnight. I wouldn't hold something naked like that overnight, unless it was blonde and perky.

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  #12 (permalink)
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tturner86 View Post
He should still have some kind of catastrophe stop loss set even if he is carrying a position overnight. I wouldn't hold something naked like that overnight, unless it was blonde and perky.

I agree but stops don't always keep you out of trouble especially overnight. Better to make sure have more than adequate capital or just use options. I realize my view on not using overnight margin is extreme but bad stuff can happen and eventually will.

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  #13 (permalink)
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liquidcci View Post
I agree but stops don't always keep you out of trouble especially overnight. Better to make sure have more than adequate capital or just use options. I realize my view on not using overnight margin is extreme but bad stuff can happen and eventually will.

Again you have to realize the leverage of what you are buying. Depending on product a $60K-$80K contract with a $3000 margin. So I agree with you, I don't think I would hold one overnight. But I actually just did, I waited for the market to reopen and entered a position long in the NQ, held until the open and took profit. But I wouldn't hold something like that for multiple days.

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  #14 (permalink)
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kronie View Post
hey guys,

holding a position in the emini(s) overnight really comes down to the 15min window that the Globex shuts down to settle books. that 15min window is further expanded by a total of 1.5 hours until trading resumes and they open up the pipes for trades. on most contracts, isn't that 6pm EST or 5pm CST?

so really holding a position overnight might not be worth the problem, and an alternative would be to simply close before the end of session, and come back at the beginning of session (say, take your wife out to dinner and come back to the office over the garage) and re-establish the position.

that is a synthetic solution

Yeah it closes around 3:15 CST, opens and closes, but finally opens again for trading around 5PM CST.

You can close the position before, and just wait until after it opens to re-enter.

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  #15 (permalink)
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tturner86 View Post
Yeah it closes around 3:15 CST, opens and closes, but finally opens again for trading around 5PM CST.

You can close the position before, and just wait until after it opens to re-enter.


in so doing, you save yourself ruining your good name with your brokerage, because if you are forced out due to price spikes, they not only charge you, but put you on the watch list, and that comes with increased margins and a bad name that is spread across the other brokers too.

there is a clearing house of clients that most if not all brokers verify a client's trading history at, so as to prevent a client from ripping through one firm and then others with the same rouse. almost like the black book or white book of vegas

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  #16 (permalink)
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kronie View Post
there is a clearing house of clients that most if not all brokers verify a client's trading history at, so as to prevent a client from ripping through one firm and then others with the same rouse. almost like the black book or white book of vegas

Wow! I didn't know that!

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  #17 (permalink)
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Rare?

Does anybody have a strategy that holds overnight?? Is it really that rare??

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  #18 (permalink)
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I am trying to get long NQ this morning and will hold and roll if I can get up.
I am a sucker for huge vix spikes because it creates such huge asymmetrical bets in a bull market.


edit.
me - 0
animal spirits - 3

I will take 3 more shots trying to get long Monday and one on Tuesday if needed. After that a personal circuit breaker would be hit on NQ and I have a QQQ long swing trade still to go.


Last edited by animalSpiritArb1; August 21st, 2015 at 09:57 PM.
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