no problem. He mentioned trading 100 million futures contracts a year in 2017 so you won't be able to get your fees/commish that low but I'm certain you can lower them by a lot with the volume you're doing now. Just wanted to specify but you probably got that.
100 million contracts a year that is about 400K per day and it is about 25% of the entire daily ES volume. I wonder if Goldman Sachs would take up that kind of volume. Let say, he made one point ES average for those 100 million contract (some gain more than that and some lost but average P/L is one point gain, for a veteran trader it is no big deal on that), if so the profit would be 5 Billions, more than what Jim Simon made. Even the profit is only a tiny one tick, then it is still 1.25 Billions. Remember one tick gain can happen within millisecond after entering the trade.
@jl1575 @balckagroop 100 million contracts a year wasn’t a typo. He owns a trading company that does a lot of automated trading with a lot different futures contracts and on quite a few different exchanges. “At 100 million contracts that must surely make you the biggest player in the futures world?” “No. The biggest ones do around 2 million contracts a day. About 5 of those guys. I'd put myself in the top 20 in volume.”- garachen, 2017 (from an ET forum post)
Sorry but that was funny!! $1.8Mil deposited a confirmed big player scary. You get all there saying is place some trades then they'll increase there 100 per trade and 300Max limit. 15K per pt not enough ?? Can't you just retire for ever ever and have fun ??
it would be nuts for amp to give you 800 per es in a $2M account given that they have $5M in net capital unless the owner likes sitting on a powder keg
Well it’s nuts that me asking if I could transfer $25 million or thereabouts and get 800 per still and they said absolutely. I mean listen, they need to be more clear. NO, I DO NOT EXPECT TO TRADE 30,000 lots on $25m, but stop this false advertising. That’s the whole point of this thread. To see what’s what. And look, they are still saying, even here on this thread, that $800 per is the rule above $100k, and they made a rare exception for me because I ‘wanted to use it and asked about it too much’. Bullshit of course, there is no email communication where I said I desire to max out my risk. At worst I gave an example of me doing so and said it would never happen, but I wanted to be clear they are allowing for this, because I get concerned about dishonesty and false advertising. Of course I got an affirmative on that, and they went out of their way to assure me, as they did on everything else I asked for. Complete 180 when the wire went through. No surprise. I don’t care which way you want to spin it, it’s plain dishonesty.
And it seems they responded in kind. They sent you the questionnaire, and you said you have traded up to $12,000,000 notional, but are only depositing $2,000,000 with them. But they did indicate that they are willing to work with you, based on your trading patterns. Maybe they do not get many people depositing 7 figures with them, so they are being risk-averse? Couldn't you just reduce your idealized lot size by 10x? So instead of needed 12 mil you would need only 1.2 mil? *shrugs*