ES, Where to trade for low margin?

Discussion in 'Index Futures' started by jmhunter, Oct 10, 2011.

  1. jmhunter


    I have been playing ES for a while on papermoney on TOS, and make a pretty good in n out scalp... I saw Mirus, how are they? but also other firms that offer intraday on ES?

  2. There are plenty of decent brokers that offer $500 intraday margin on the ES contract. Mirus, AMP, Global futures, etc. There is a review section here on ET which may help you choose one. I`ve also heard that the search function is a valuable tool.

    Utilizing the minimum intraday margin does however only make sense if you have sufficient capital that you want to allocate elsewhere or are not interested in depositing everything in your futures account.

    If however you are undercapitalized and plan on trading 5 contracts on a $2500 account without any experience other than paper trading, you are not only failing to plan properly, you are planning to fail. :)

    If you can afford to lose $2500, go ahead, if not, think it over one more time. :)
  3. Very good advice.

    More leverage=quicker way to go broke. :eek:
  4. jmhunter


    I'm new to futures, however I have been trading options for 15 years. I have a good system and risk management strategy in place
  5. Global futures has 400 margain for ES and 500 for YM intraday. Good service. I use Amp clearing with the free NT7.

    I dominated the ES paper trading. However it's apples and oranges when it comes to real money. I can definitely vouge for that.
  6. global or velocity

    Better stick to minimum of $2500 per contract until you get some live screentime with real money on the line
  7. jmhunter


    my system only plays a max of two contracts in play at any given time.
  8. jmhunter


    Global-I had something come up when I just applied for my account.. They said all was good and then this morning asked for a copy of a utility bill, and my bank statements?? Utility bill fine, I just moved back to California... I undersatnd..

    But my bank statements to verify that I have risk capital?? I don't see how that is any of their business.

    Have any of you seen this kind of requirement before?
  9. I've had accounts with a few different brokers and never had to show a bank statement. Patriot act ???
  10. jmhunter


    im figuring because i just moved, my address doesn't match credit report? I told them I'm not showing them bank statements. SO we'll see...
    #10     Oct 11, 2011