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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Bull RidaH who wrote (35203)10/5/1999 6:28:00 PM
From: Gersh Avery  Read Replies (2) of 44573
 
OK Mr BullRidaH sir ..

need some help with this one ..

started out this morning short the maximum number of contracts that I could do ..

Then just when the fun really starts I get called away ..

So then .. I shorted 15 (at 16.75) ..

I had $199,750 when I shorted them. So then at $12,500 required margin on each of them I sucked down $187,500 of available margin .. available balance then was $12,250. Not quite another contract to short .. anyway ..

I hit the penalty box 'cause I'm over the limit at close .. OK .. $500.00 and close out enough contracts to bring me back to par.

So how many contracts do I have to close?

shorted 15 at 16.75
Last trade = 15.50
gain of 1.25 * 15 minus whatever the slippage is going to be at this point.

So then the gain = 4687.5
start ballance = 199,750
total = 204,437.50 divided by 25k = 8.177.

Looks to me that I get to keep eight of these short contracts.

Which leaves me with $4,437.50 available margin left.

So then .. I had to cover seven contracts at close ..
= 3.5 * 250 + 500 total amount of fees and fines ..

I get $1,375 ..

4437.50 - 1375 $3062.50 available plus 200k tied up with eight contracts short at 1316.75 ..

If this is correct then I'll post the short form for your ease of mind ..

Maybe someone else would like to see if the numbers make sense .. or do I have fat fingers again <gg>

Gersh
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