E-mini S&P 500

Discussion in 'Index Futures' started by lyrklaunavan, Sep 6, 2009.

  1. Hi,

    I wanna ask a couple of beginner questions that you are bored of.
    I want to begin E-mini S&P 500 daytrade. I do not have enough funds. I do not have much money as you understand.

    1- How much money does it cost
    1 E-mini S&P 500 Futures contract? I mean I have 5000 dolars with me. I can use 3000 USD to buy contracts. How many can I buy?

    2- 2000 USD for margin calls enough? What do you think?

    3- S&P is 1016 now. If I buy 1 contract it means notional value is 50*1016=50800 USD İf it increases after I buy 1017 I gain 50 USD right?
    If I have 2 contracts 100 USD minus commissions isn't it?

    4- Do you know a good brokerage service that I can open an account with a small account I have? and small commissions and good order transmission? In blogs I read İnfinityFutures has low commissions but when I read the comments in the brokerage section, their software freezes sometimes. I want to daytrade so I do not want it to happen to me:( Normally I prefer to hold overnight but I do not have that much money for initial margin!)

    Please help me

    Thanks in advance

    (I am not a resident of United States by the way, I am a Russian lady interested in feeding my kid by trading)
  2. I don't mean to cast an unnecessary shadow on your plan, but I have 2 questions for you:

    1) How are you going to feed your kid during the 6 months to 2 years MINIMUM it will take you to learn how to trade futures profitably? (<< best case scenario)


    2) Why not just keep doing whatever the answer to '1' is, and avoid the risk of losing all your money and you and your kid starving to death?

    By the way you can trade 1 contract with a $5k account. You have it right that a 1 point move with 1 contract will make/lose you 50 bucks, before commission.
  3. I have major major doubts this is true...
  4. I am an electrical engineer and I read some books about trading futures. I don't know but I want to implement a system with MACD crossover. I tried it with some demo accounts and I can be successfull. I dunno. Can you please answer my questions? I am determined. What can I do with 5000 dollars? Nothing! Open a shop? If you have a good idea I am open to new job ideas.
    I dont need 1000 dollars a day in here. I just need small profits.
  5. I agree with Traderzones,

    Its obvious the person who started this thread is NOT female, and is NOT Russian.

    Russians don't use the word "kid", they use the word 'child". I know this because I know many russians living in Miami and New York and they always use the more direct term in describing their offspring: children or child.

    Lyrk, did you really think you could fool us?
  6. The answers/advice generally would be the same for anyone.
  7. flatron


    I have similar questions.
    I am looking to open a futures account at some point, but I come from a 'spreadbetting' background in Europe and things work a bit different.

    I am looking to trade with someone like 'AMPfutures'. They say you can open an account and trade with a few thousand dollars, but i see the 'initial margin' ifor the ES is $6188? What does this actually mean? Is that amount only required for holding trades overnight? The intraday margin is only $400.

    Also, with someone like AMP can I trade for example ES, GBPUSD, ZB, etc all with the same account. Do I need to pay for the different feeds and stuff?

    thanks. Im new to all of this.