ET Swing Trade Competition Journal

Quote from spect8or:

Yes OldT, that is very much the point.

I'm no futures expert, but I don't think there's any broker out there that would let you hold 20 ES overnight with a $25k account, so I'm not sure how this trade should be handled. I'd like to hear your opinion.
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Exchange margin overnight is $4K. I'm no margin expert, but I would guess they would have liquidated 15 contracts at the close. Equity stands right now at $18,750.

By the way, some firms would not have allowed a daytrade of 20 contracts with only $25K. IB for instance requires $40K for that.

OldTrader
 
I actually posted this earlier but in the wrong forum.

Added 500 shares of CPN @ 4.75 and will sell a majority around the 5.50 area. Stop (mental)- triggered only if it closes below 4.40. I do not let intraday stops stop me out unless major major news - not the intraday noise.
 
Quote from spect8or:
I had imagined people holding positions for like a minimum of 3-5 days, although the requirement is overnight.
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If taking partial profits on a position on the same day of entry is a problem then this will cramp my MM style with trading the stock indexes, due to their proclivity to retrace and the fact that they trade in wider daily ranges than most stocks.

AMT, quite a hefty position you built up there today. No problem with that, I guess, however the Adds would have to have been closed out to comply with overnight margin rules. I'd like to hear your, or anyone elses, suggestion for how to handle this one.
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Since this journal is about swing trading / position trading, then positions that exceed the overnight margin carry capability should not be allowed to be opened. So the max # of contracts you could open with 25K with 4K overnight opening margin on ES would be 6 (6*4K).

To other participants, thanks for joining in. Hopefully we ride out these rough patches in the beginning, so stick with us a bit longer!
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Thanks!
 
At spect8or's request I have done a massive cleanup of this thread, removing daytrades, arguments, off-topic commentary, etc. If I accidentally deleted your swing trades then I apologize and ask that you re-post them. This competition is a good idea, so let's keep the thread clean and free of fluff. And good luck to all.
 
$4k is the margin to open a trade (ES) during overnite hrs. If one enters the trade during rth the MAINT. margin is $3200. to carry the trade overnite. These are IB's rates, others vary.
 
Quote from T-REX:

L 5 ES 1086.75 / Stop loss @ 1084.75


stop loss moved to 1088.75 to lock in 2 ES points.
Since I have already bagged 5 ES points today I can now risk the 5 ES overnight holdover with 2pts in the $$$.

At this point I am now playing with the houses $$$.

Zero Sum game.....HA.HA.AHAHAHAHAH.:p
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Stop moved to 1089.75 to lock in 3 ES points.
 
Sorry, but I had to leave yesterday just after 10:00 EST to go resolve a visitation rights issue with my daughter for Christmas vacation...Ex wives can be real fun during the holidays... :(

OK....so since I was not able to trade out my positions yesterday we will say that 15 ES of the 20 ES were covered at 1092.75 for the following losses...(5 ES @ -5.75 pts...5 ES @ -7.25 pts...5 ES @ -4.0 pts). This would have brought the account balance down to the $20,000 area so this is where I start off today...Now I can have a good challenge. Great job to all for yesterdays action!

Chris
 
Quote from AMT4SWA:

Sorry, but I had to leave yesterday just after 10:00 EST to go resolve a visitation rights issue with my daughter for Christmas vacation...Ex wives can be real fun during the holidays... :(

OK....so since I was not able to trade out my positions yesterday we will say that 15 ES of the 20 ES were covered at 1092.75 for the following losses...(5 ES @ -5.75 pts...5 ES @ -7.25 pts...5 ES @ -4.0 pts). This would have brought the account balance down to the $20,000 area so this is where I start off today...Now I can have a good challenge. Great job to all for yesterdays action!

Chris
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Just a reminder, you posted this in another thread a couple of minutes ago:

Quote from AMT4SWA:

I did not cover any of my position trade yesterday...still holding. I did several ADD's to bring the SHORT Position trade back to about 85% strength today...these are my position Trade price layers now;

(1088.75...1088.75...1088.00...1087.50...1086.00...1077.00)

I will do one more ADD today if we push 1090...If we do not...then this will be my positions I hold going into next week.

Good Fortunes!

Chris
 
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