Discussion in 'Energy Futures' started by Nostradamus357, Nov 7, 2010.
How many contracts can I get with $9900?
It really depends on the broker but I would say 1 contract per $ 1,000 off the top of my head, and 1 ES contract for $ 500. These are intraday rates.
The exchange requirement is $5000/contract. If you have $9G your risk management techniques should give you the answer you seek.
However any suggestions with your $9G that you can trade up to 9 CL contracts with $1000 margin even if daytrading is foolhardy. Go ahead and try it you wont forget the lesson.
With $9K better you look at trading the the mini - CL at half the normal contract size. Ticker symbol is QM.
Now I'm confused. Let me try this from a different angle...
How much money do I need in an account to get 10 contracts for just intraday trade?
Is your broker Elite Trader?
Your broker will give you the answer but most brokers will allow 50% day trade margin about $2500/contract.
But you dont really need a broker to tell you how many CL contracts can I day trade with $9G. The mere fact you are asking this question means you shouldn't be even thinking of trading. Do some homework and try a simulator to see what it means to hold 10 CL contracts with $9G margin.
You will be wiped out in a second.
know whats fun on a sim?
take on 100 contracts and let it go outta control over night and then bust it out to see if you can bring it back. do this for a month strait.
The catch is the quality of the sim. if you use one that fills anything its useless. but if you use one thats close to 100% accurate with fills, you just might be on to something eh?
or should i keep my day job of stock trading?
For $9,900 I would only use one ct for CL.
In fact you should have near 20K for one ct with CL.
Other wise the risk of ruin factor will/can strike and you are out before you know it.
1 lot per 10,000 of equity is the smart way to go... If you're dumb then by all means buy as many as your broker will allow.
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