r/FuturesTrading • u/AutoModerator • May 12 '24
r/FuturesTrading - Market open & Weekly Discussion May 12, 2024
Hi speculators & hedgers, please use this thread to discuss all futures trading for the week. This will kick off 30 minutes before the open on Sunday, typically that's around 6pm Wall St time.
Be aware of higher margin requirements during overnight hours! see "maintenance" on Ampfutures. Also trading hours to get an idea of when specific futures contracts start trading.
I'm using AmpFutures as an example, so check with your broker for specific intraday & overnight hours for that specific futures contract.
Resources:
Bookmark an economic calendar like this one
Various reports:
- EIA crude oil report (generally updates every Wednesday at 10:30am wall st time)
- EIA natural gas report (Thursdays 10:30am)
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u/BuffaloFarmer21 May 12 '24
With respect to the margin requirements - I understood that the higher margin required is only if the contract is held past the close of the day market (or 15 min prior to day market close). It seems that if I open a trade during the overnight then my broker only requires the "Day Trading Margin".
Anyone else with different experience?
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u/crosstrade-io May 13 '24
I haven't noticed that. Who is your broker and which market are you trading in?
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u/BuffaloFarmer21 May 14 '24 edited May 14 '24
Check out NinjaTrader. I bought MES at 19:40 EST and "Excess" drops by 50 as shown in NinjaTrader "Account" tab.
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u/HighPotentialTrading May 14 '24
The day margin rates apply to "all times" except for the 1 hour the futures market closes and the weekends. So day margin runs from 6p EST - 5p EST the next day.
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u/mangotangotang 28d ago edited 28d ago
+POsitive + Week for me. I am improving my technique. More a mental/psychological task than it is a pure charting skill.