ES Journal Archive (2011)

bigsnack · Nov 1, 2011

SIM short 18.75

hetanos · Nov 1, 2011

Quote from Picaso:

Has anyone here trading with IB ever had a position open at :45 with intraday margin. What happens? Do they simply close it automatically or do you get a warning and a time limit to close the position yourself?

Was tempted to leave it open just to see, but better judgement prevailed and I cut it in half.

They don't close it nor warn it. If you have enough funds to cover the margin overnight or even over the weekend, that is good enough for them.

Picaso · Nov 1, 2011

Quote from hetanos:

They don't close it nor warn it. If you have enough funds to cover the margin overnight or even over the weekend, that is good enough for them.

Hetanos, please read the question again

Laissez Faire · Nov 1, 2011

Quote from Picaso:

Has anyone here trading with IB ever had a position open at :45 with intraday margin. What happens? Do they simply close it automatically or do you get a warning and a time limit to close the position yourself?

Was tempted to leave it open just to see, but better judgement prevailed and I cut it in half.

It depends on if you were long or short.

I am quite sure they auto-liquidate your position if you don`t do it yourself.

As I recall it, I had a window pop up in NT warning that I was exceeding overnight maintenance margin and needed to reduce my exposure by the cash close. I never tried finding out what happened if I didn`t.

bigsnack · Nov 1, 2011

Quote from bigsnack:

SIM short 18.75

Creamed

Well -8 isn't creamed, but the market barely even flinched at my entry.

mastacoli71 · Nov 1, 2011

Quote from Picaso:

Has anyone here trading with IB ever had a position open at :45 with intraday margin. What happens? Do they simply close it automatically or do you get a warning and a time limit to close the position yourself?

Was tempted to leave it open just to see, but better judgement prevailed and I cut it in half.

not sure I understand your question but the thing to pay attention to is your current maintenance margin. make sure this is below your net liq and you should not get margin call.

hetanos · Nov 1, 2011

Quote from Picaso:

Hetanos, please read the question again

Ok, I see you mentioned word intraday margin. But again, if you have enough funds , you won't get a call.

bigsnack · Nov 1, 2011

From the looks of the chart, we should stay above 21.25 if we are going to go higher.

Picaso · Nov 1, 2011

Quote from Laissez Faire:

It depends on if you were long or short.

I am quite sure they auto-liquidate your position if you don`t do it yourself.

As I recall it, I had a window pop up in NT warning that I was exceeding overnight maintenance margin and needed to reduce my exposure by the cash close. I never tried finding out what happened if I didn`t.

I was short, wish I'd been shorter

Thank you, LF, that's what I wanted to know (based on that, I shouldn't have cut size at :44', but rather held the whole position for my target - anyway, with this volatility probably not the best day to try experiments, I will try and see what happens on a calm day)

Thank you too, Mastacoli and Hetanos

ajcrshr · Nov 1, 2011

Quote from Picaso:

Has anyone here trading with IB ever had a position open at :45 with intraday margin. What happens? Do they simply close it automatically or do you get a warning and a time limit to close the position yourself?

Was tempted to leave it open just to see, but better judgement prevailed and I cut it in half.

If your "look Ahead" margin(shown in account tab under margin requirements) of your account is deficient you will receive a warning at 3:50pm ET that you have 10 mins. At 4:00pm ET you will get another warning that auto-liquidate will commence. I think you get 60-90 seconds after 4:00 before they liquidate.