I am following the Dow Jones Mini (YM) When I entered the order in my play money account, and I ended up paying $12580. Isn't there a way where you can pay $750 per contract? All help is appreciated
Current initial margin required to trade YM and hold overnight is $2437 per contract. Most day trading brokers only require $500 (or less) margin for intraday trading - going home flat each night. All usually have a minimum balance you must maintain however. Hope this helps.
I have all the money in my account. But what exactly do I type in. If I type in YM I get charge $12,500. I heard there is something else to type in in order to get a much lower price on a contract Thank you
Call your broker and ask them. Normally you have to specify which YM contract to trade. YM H7 is March 2007 contract but exact format varies for different brokers and trading platforms. Good luck.
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