About 3 months ago my nephew opened a futures account with AMP and an initial balance of 5 k. Needless to say it was a meltdown from the beginning and now uncle P. got involved to help out to at least restore or better more... The account stands at 1,640 $ now. I've learned that AMP offers very low requirements for ES, NQ and YM which allows me to trade a size of 5 contracts for 300 $ each on margin (if wanted). Not new to the scene I want to have this done within not longer than a month trading ES and/or NQ whilst also eyeing on ZB, CL and some currency futures in case.
you gotta be really good...300 margin is insane to me. I think that earnings season volatility and some options rather than es and family till the seasonal strength post December begins...maybe qm in February as we anticipate driving season ..or if in a big hurry , Monday debate should bring downside in ym and the sort especially if usd picks up...know your candles
300$ is a special price otherwise it's 400$ per ES contract. This special price is too expensive and needles to say ... Useless. Good luck to you ambulancier. Even if that smells the total wipe out. 1ES Pt x 5 is 250+25Coms. Or ... 17% per point.
300 margin is if you accept paying a rt fee of 9.56 net. I don't like the YM and think that NQ or ES are much easier to trade. With his account and trading platform only futures can be executed so options are out of question.
Statistics and mathematical probabilities are irrelevant in day trading, at least to me. Thanks for the good luck wishes.
I am myself in this situation. Trying to grow 1K on ES. But I don't expect to reach 5K until January/ February 17'. As I limit myself to 2K per contract. Let's see. By the way, what if you lose his money ?
small account like that 1600.00 . a Trader has to be very patient and wait for nq to present a real good opportunity which might only come once or twice per week. Throw in IBB , NBI , XBI as indicators as to whether its safe or not..don t go against them while using nq, watch XLK with that they should all be lined up . Dollar index is always important . I once went from 1200.00 to 23 000 back in 2005 in 6 months.