What's up with recent margin changes: YM requires more margin than ES now
- Thread starter aeliodon
- Start date
Hi,
I trade using IB, to be honest smaller margins would be nice, BUT in all fairness I'm very happy with them. The high margin rates have helped to keep my trading in check from falling to my emotions and carrying a large position over night. I really just try to scalp but do carry an odd one or two contracts over night - something I've cut way back from doing but still do it, if that makes sense.
I feel my account is safer with them because they are soo tough on margins.
I do have a good size account (for me anyway) which in the years of trying to make trading work I feel you have to have. I can safely scale in up to 6 contracts if I needed (I have enough funds to do more, but have not passed 6 yet, and have only done that a few times,) without worry of not having enough funds.
As for commissions I trade close to a 1000 RT (avg) a month, which I just switched to the unbundled pricing and I'm at $1.92 each way for this month.
I use them for their charts too, which for the last couple of months I've been very happy with and all I need for my style.
I still use their reg' order entry system, I think their book trader would help add a few points here and there because of speed on entry and exit, but honestly I don't want to start changing how I trade yet, at least for a couple of more months till I feel I'm still making it.
well that's enough waffling, just wanted to share my thoughts on IB, for what it's worth
Happy Thanksgiving,
Andy
I trade using IB, to be honest smaller margins would be nice, BUT in all fairness I'm very happy with them. The high margin rates have helped to keep my trading in check from falling to my emotions and carrying a large position over night. I really just try to scalp but do carry an odd one or two contracts over night - something I've cut way back from doing but still do it, if that makes sense.
I feel my account is safer with them because they are soo tough on margins.
I do have a good size account (for me anyway) which in the years of trying to make trading work I feel you have to have. I can safely scale in up to 6 contracts if I needed (I have enough funds to do more, but have not passed 6 yet, and have only done that a few times,) without worry of not having enough funds.
As for commissions I trade close to a 1000 RT (avg) a month, which I just switched to the unbundled pricing and I'm at $1.92 each way for this month.
I use them for their charts too, which for the last couple of months I've been very happy with and all I need for my style.
I still use their reg' order entry system, I think their book trader would help add a few points here and there because of speed on entry and exit, but honestly I don't want to start changing how I trade yet, at least for a couple of more months till I feel I'm still making it.
well that's enough waffling, just wanted to share my thoughts on IB, for what it's worth
Happy Thanksgiving,
Andy
Overnight positions must meet exchange minimums (at least) at all brokerages. All of IBs "high margin rates" are exchange minimums, without differentiation of intraday vs. overnight. It is the exchange, not IB, that is giving you a fuzzy feeling.
Not worth any bragging rights. 1.92 per-side = $3.84 round trip. MANY firms offer sub $4.00 all-in round trip with zero volume quota. 3.50 - 3.90 all-in round-trip is very common, with no quota!
Just want to point out changing MECHANICS of order entry is not the same as changing HOW you trade. Doing 1000 cars per month as you state, if only 5% of them get a boost of "a few points here and there" you are talking nice money, just because you click here instead of over there on screen.
Happy Holidays,
Osorico
Hi,
certainly not arguing with you, your facts are right, in fact, in the past I was with a company that offered cheaper fee's plus a whole lot less margin, BUT.
The "but" from the past, I had been with IB and was doing very well for a couple of months, I looked at my statements and saw that I'd save/make a few hundred dollars more each month if I swapped brokers, so I did. Nothing was wrong with the broker, but I just self destructed, not really sure why, I guess lots of reason - (new oder entry caused some problems) but it wasn't just that, if that at all, anyway that's another story.
Long story short it was the second time in the past I'd been up just over 20K in a couple of months, then only to mess up and give it all back.
Right now I'm up again over 20K in a couple of months, and so I guess I want to get to month 3 and 4 with out foolishly giving it all back. I know it's a mental thing, but for a couple of more months I'm willing to give up the little extra in fees and just keep to trading as is. I guess proving to myself that I can trade or cannot, but it's only down to me. I hope that makes some kinda sense.
andy
certainly not arguing with you, your facts are right, in fact, in the past I was with a company that offered cheaper fee's plus a whole lot less margin, BUT.
The "but" from the past, I had been with IB and was doing very well for a couple of months, I looked at my statements and saw that I'd save/make a few hundred dollars more each month if I swapped brokers, so I did. Nothing was wrong with the broker, but I just self destructed, not really sure why, I guess lots of reason - (new oder entry caused some problems) but it wasn't just that, if that at all, anyway that's another story.
Long story short it was the second time in the past I'd been up just over 20K in a couple of months, then only to mess up and give it all back.
Right now I'm up again over 20K in a couple of months, and so I guess I want to get to month 3 and 4 with out foolishly giving it all back. I know it's a mental thing, but for a couple of more months I'm willing to give up the little extra in fees and just keep to trading as is. I guess proving to myself that I can trade or cannot, but it's only down to me. I hope that makes some kinda sense.
andy