Yes, you're correct. I found everything's wrong on my side. I need to change my broker first. I know what should I do....
I like TDA TOS for its simplicity.
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CME - Why Smart Money Trades Spreads
- Thread starter bone
- Start date
I like TDA TOS for its simplicity.
Alas, margin is still not cheap enough......
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You need to get rid of your broker. You are NOT getting the correct SPAN margin credits
I have not seen any discount broker that knows WTF they’re doing with spread positions.
https://www.cmegroup.com/trading/en...§or=NATURAL+GAS&exchange=NYM&pageNumber=1
I have not seen any discount broker that knows WTF they’re doing with spread positions. https://www.cmegroup.com/trading/en...§or=NATURAL+GAS&exchange=NYM&pageNumber=1
Alas, margin is still not cheap enough......
You need to get rid of your broker. You are NOT getting the correct SPAN margin credits
Not many of the brokers out there do, and it confuses the hell out of me. Why do brokers/FCM not offer the SPAN credit to their customers, when the exchange offers the SPAN credit to the broker/FCM? What is going on there?
Discount brokers need a lot of account turnover. That’s why they target small retail speculators - hopefully day traders. They aren’t going to cater to proprietary firms, institutional accounts, commercial accounts, hedge funds, and sophisticated independent traders.
Any top tier Chicago FCM - RJ O’Brien, Rosenthal Collins Group, Advantage; will have the Risk Controls to properly margin exchange spread positions.
If you want to trade a big boy strategy, use a big boy FCM. As I’ve said previously - I’ve had hundreds of clients start out with very modest accounts at those firms. Especially Advantage.
Any top tier Chicago FCM - RJ O’Brien, Rosenthal Collins Group, Advantage; will have the Risk Controls to properly margin exchange spread positions.
If you want to trade a big boy strategy, use a big boy FCM. As I’ve said previously - I’ve had hundreds of clients start out with very modest accounts at those firms. Especially Advantage.
I think what I meant to say there, is why does the exchange offer the credit to the broker (reflected on the broker statement), but then the broker says "That does not count"? I dunno. We may have to VOX that one.
And what I meant to say is that discount brokers are too cheap to hire a competent Risk Manager and to pay for a decent risk monitoring platform.
They’ll give you four times daily buying power for ES if you scalp, though. All about the turnover $$$$
They’ll give you four times daily buying power for ES if you scalp, though. All about the turnover $$$$
Yes, I agree.You need to get rid of your broker. You are NOT getting the correct SPAN margin credits
https://www.cmegroup.com/trading/en...§or=NATURAL+GAS&exchange=NYM&pageNumber=1
$3000 vs. $875 is quite something .......
Discount brokers can be very expensive.
Alas, margin is still not cheap enough......
TD Ameritrade is one of the worst place to trade futures (spreads and outrights):
1. They don't offer day trading margin on outrights.
2. They don't offer margin offset on on intermarket spreads.
As bone said, find an FCM. I only use TDA for charting. The charting is very good and simple.
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