ES Journal - 2021/2022

Cessna06P said:
A folly escaped unscathed but with a lesson learned. Pay attention to expirations.
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This will be an education to us all through AMP. What will they do? My contract expires on Friday at like 9 AM ET or something. I've never held a future this close to expiration, but why the hell not this time, since I am going to lose my shirt anyway. Will I lose more or less shirt by holding until LTD, which is Thursday?

Will be interesting!

 
Overnight said:
This will be an education to us all through AMP. What will they do? My contract expires on Friday at like 9 AM ET or something. I've never held a future this close to expiration, but why the hell not this time, since I am going to lose my shirt anyway. Will I lose more or less shirt by holding until LTD, which is Thursday?

Will be interesting!
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AMPs loss limit for liquidation is 80% of account value. Since accounts are marked to market each trading day, the beginning balance of the day is basis for the 80% level. So there's that. And of course, even with AMP, there is no free lunch... $25 per contract liquidation fee!

Also, there is no guarantee the liquidation policy would or even could execute.
It's the responsibility of the trader to take appropriate actions associated with the account. The brokers/FCMs are facilitators.

So yea, you CAN lose more of your shirt.
 
tiddlywinks said:
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So yea, you CAN lose more of your shirt.
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*sighs* I am not talking about losing more or less of my shirt because of their liquidation policy. I am talking about the shirt based on what Powell and the CPI do by Wednesday. And the LTD for MNQ is Thursday.

As I typed above, I have never held a position into expiration week. So what AMP does will be interesting. My plan, obviously, is to close the position on Thursday. Will AMP auto-liquidate before that point? That is the fun bit we get to see.
 
Overnight said:
*sighs* I am not talking about losing more or less of my shirt because of their liquidation policy. I am talking about the shirt based on what Powell and the CPI do by Wednesday. And the LTD for MNQ is Thursday.

As I typed above, I have never held a position into expiration week. So what AMP does will be interesting. My plan, obviously, is to close the position on Thursday. Will AMP auto-liquidate before that point? That is the fun bit we get to see.
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You're an idiot!
 
Overnight said:
*sighs* I am not talking about losing more or less of my shirt because of their liquidation policy. I am talking about the shirt based on what Powell and the CPI do by Wednesday. And the LTD for MNQ is Thursday.

As I typed above, I have never held a position into expiration week. So what AMP does will be interesting. My plan, obviously, is to close the position on Thursday. Will AMP auto-liquidate before that point? That is the fun bit we get to see.
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Overnight said:
Why do you say this? Have you ever held a future into expiration week?
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No. I'm flat eod, everyday.

And if that was not case, I would not hold 1 index contract, mini or micro, at a loss of several thousand dollars.

That answers both your questions.
 
This is what you people think is going to happen to the markets when I hold a single MNQ contract to LTD.


Get a grip, people, you will survive!
 
tiddlywinks said:
No. I'm flat eod, everyday.

And if that was not case, I would not hold 1 index contract, mini or micro, at a loss of several thousand dollars.

That answers both your questions.
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Well, you and I are different, now aren't we? I'm a swing trader, and you are a day-trader. So we are different.

If I were a swing trader MAKING money and you were a day-trader LOSING money, it would be a very different conversation at this time.

Of course, nobody can be sure in your journal, because you are not being totally honest over there, now are you? Tiddlys-winks?
 
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