I’m trying to locate info on holding a position overnight or even for a week or more.
I’m trading Oil or even one of the Indexes and looking to trade longer time frames which means holding positions longer.
What are the times Tradovate uses for overnight trading? is this end of the day session at 4pm or is this midnight NYSE time?
I’m based in Australia.
Hello Simontrades,
According to the Tradovate website:
Reduced Day margins are currently available from 6:00 PM ET to 4:45 PM ET.
Initial margin is required from 4:45 PM ET until 5:00 PM ET, and if you are holding a position at the close of any market.
Day margin for CL is $1000.00. Initial is: $7260.00
Day margin for the mini QM is $500.00. Initial is: $3630.00
Basically, the higher initial margin for CL & QM is required for any trade that is not opened and closed between 6pm ET - 4:45pm ET the next day.
Margin information is located here:
Thanks Hard Ride, appreciate the info.