Seriously, you don't want leverage on top of leverage. Any firm you go to will make sure your money goes first so you will blow through your capital in days.
That's the thing, they are not going to back you. LOL. If you want to trade directionally, you are going to have to put up capital.
When the money you've put is gone they liquidate your positions and it's over till you put some extra chips on the table. In the case of a gap where they can't close before the losses are bigger than your margin then I don't know what would happen.
Sounds like you want to trade with Prop's money and lay off the risk from you to them. Could happen if you have a demonstrated history of producing profits that are zero or negatively correlated to S&P. A superstar will usually get an audience to make a case for getting hired.
My friend, Mr. Maverick is right again on this one. Rarely will you see leverage on leverage like the OP is asking for. Not being critical, but the comment about losing his money and then relying on the firm to cover additional losses, sort of says it all. Nothing against the OP for asking. But, what I generally ask people with similar questions is something like this: Hey, I have a track record playing blackjack, easily verifiable. I would like you to back me against any losses, or any big losses anyway. How about it? ref: http://www.blackjackforumonline.com/content/Brightint.htm Look, I've been barred from blackjack, and I am pretty good. But anyone that would want to get into that relationship...well, you get the idea. And, on the another point. If you're that good, why give away most of your profits? Simply use the leverage available to build up an account. If you're sure of yourself, whether it's $10k, $50k, or $100k, you can certainly build it up. Then you can start backing people to make even more money. I hope that makes some sense? Mav? HitnRun? Don
Maybe I'm confused, but I don't think so... I don't know what the "leverage upon leverage" is. Simply, I'd like the same deal given to equity prop traders except I'd like to trade futures.
it appears that futures prop firms do not back traders that trade only directional . no need for directional traders anyway You can open a retail futures account with 20k If your trading the emini es for example. you can easily trade 20 contracts es mini contract intra-day only That is huge leverage & risk. not recommended but its available How many contracts do you need to trade ? What contracts are you trading ?
X2 They love spread traders and automated arbitrage. All others ( directional outrights ) pack sand. Nobody wants to take that kind of risk any more. Learn to spread trade if you want to find futures backing. In fact, I have several clients at prop trading firms in Singapore, London, and Chicago whose prop backers will now let them carry substantial positions overnight. And that is a bit of an evolution from where these firms were just a couple years ago. Looks like some firms have come to realize that SPAN margin credits are pretty cheap.