However the colonial scramble for Africa, beginning in the 1880s, makes the British government realise that a deeper hinterland is essential if the valuable port of Freetown is to remain viable. Crowther spends the last thirty years of his life as bishop of a vast diocese, centred on Lagos and known simply as the Niger territory.ĭuring the 19th century the territory of the colony around Freetown remains small, though treaties of friendship are made with neighbouring chiefs along the coast. Samuel Crowther, married to an African woman released from the same slave ship as himself, becomes the first African to be ordained an Anglican priest (a distinction which brings him an audience with Queen Victoria in 1851). The most famous of the recaptives demonstrates the point. Anglican and Methodist missionaries in Freetown achieve the task of providing them with a shared culture, in the form of the English language and Christianity. Some brokers may limit you to close only, some brokers may issue a fee, or like my broker, they will just auto-close your position and charge you a fee for breaking their rules as well.Captured by slave traders in regions throughout west Africa, the recaptives have not even a common language. Maybe some brokers will allow you to drop below these thresholds without auto-liquidating you, and if this happens, you will be margin called until you can deposit enough money to settle your account back up to margin requirement. Overnight margin will liquidate (close your position) you at closing futures bell if you are below the limit. Intraday margin usually allows up to like 20% lost past your margin requirement before they will liquidate (close your position) you. Intraday margin is the amount required in your account to be able to daytrade a future contract, which means you need to close your position out before futures close for the 1hr that they are closed each day, or on the weekend. Overnight margin is the amount required in your account to be able to hold a contract of that future overnight (the 1hr futures are closed, or the weekends). Lots of times, intraday margin will be less than overnight margin. There is a difference between intraday margin and overnight margin. My example above isn’t a real life example and I’m not planning on opening an account with $1,000 and trading ES contracts, I just wanted to use a simple example to understand how margin worked. Of course if you want to trade again you’d have to deposit $250, but my question is can you wait until you’re ready to trade again to deposit that $250 or must you deposit it right away after the loss? Again this is just for a day trade, not concerning initial margins or overnight maintenance etc.Įdit: thank you for all the replies. If you place a trade on one ES contract and get stopped out at minus 5 points which is minus $250, does the broker margin call you right away to deposit back $250 to make the account whole again, or can you simply take the $250 loss? You deposit $1,000 and begin (Let’s not count commission for this example). Let’s say the minimum day trade margin for a broker is $1,000. Let me illustrate a very simple scenario. I’ve watched several educational videos on futures trading and would like to start small in the next few months, mostly as a potential side source of income (if successful…that’s a big if lol).Īnyways, I’m confused about an aspect of margin.
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