HELP I am short ESand getting Margin calls

Bad_Badness · Apr 1, 2021

Last night I decided to scale up. Normally I trade a few contracts but decided to try 10 contracts of ES. When it went against me I bought more. I continued. Now I am short about 100 contacts and keep on getting margin calls and auto liquidation.

What should I do?

fan27 · Apr 1, 2021

Bad_Badness said:
Last night I decided to scale up. Normally I trade a few contracts but decided to try 10 contracts of ES. When it went against me I bought more. I continued. Now I am short about 100 contacts and keep on getting margin calls and auto liquidation.

What should I do?

Liquidate your position and close your account. You should not be trading.

Edit: April fools. Nice one!

Scataphagos · Apr 1, 2021

Being a jokester, I could make an insensitive one here... but not going to.

It's probably too late to do anything strategically other than to stop out and take your lumps. No telling where this rally will peak out.

hajimow · Apr 1, 2021

Buy way out of the money short term Calls. That will increase your margin. Like Call 4200 for 4 days from now.

hajimow · Apr 1, 2021

Also sell covered puts for your short positions.

stockpredictor · Apr 1, 2021

I hope this is a bad attempt at April Fools joke

smallfil · Apr 1, 2021

Ever hear of the saying, "never add to a losing position"? That should have been enough to tell you to take your losses. The smallest losses are the first ones you take. Adding and piling on to the wrong side of a trade does not make any sense. Trying to repair a very bad, losing trade is a fool's errand. Take your losses and move on. Learn from it and avoid doing it ever again.

RedDuke · Apr 1, 2021

It is a joke. He was adding to short position by buying more contracts

April fools day :sneaky:

Scataphagos · Apr 1, 2021

stockpredictor said:
I hope this is a bad attempt at April Fools joke

Ah... he's just yankin' our chains. He's not REALLY losing $5,000/point! Good one.

TimtheEnchanter · Apr 1, 2021

Bad_Badness said:
Last night I decided to scale up. Normally I trade a few contracts but decided to try 10 contracts of ES. When it went against me I bought more. I continued. Now I am short about 100 contacts and keep on getting margin calls and auto liquidation.

What should I do?

Borrow from the mob and double down...