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In a message dated 98-11-16 10:59:46 EST, you write:
<< I don't believe that is the correct definition of maintenance margins. The
initial margin is required per contract on the day of the futures trade,
while only the maintenance margin is required per contract every day
thereafter so long as the futures position remains outstanding. Your
broker can provide you with the latest margin requirements - initial,
maintenance and daytrading.
>>
While over night margin requirements are fairly rigid, daytrading margin is
largely determined by your relationship with your broker. I am fairly lenient
with my own clients, but I tell them up front that they have to use stops to
daytrade and I will not let them trade on low margin unless I am comfortable
with what they are doing.
Be advised, that you should NOT be daytrading a big S&P if you have $4000 in
your account. It is folly to think you will be able to make money with such a
small
account to work with.
Peter Esposito
PMB
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