Starting futures account, input needed

[fist-of-freedom]

Let's say I open a futures account with AMP starting at $2,500.

Can someone please explain to me how many contracts I will be willing to be able to buy/sell the TF? Intraday Margin at $500.

Let's say I buy 2 contracts, does that mean I need $1000 to cover both contracts?

Thanks for the help in advance!

 

[pboyles]

You could trade 5 contracts, however if you do you'll probably blow your account very quickly. 5 contracts on the ES is $300 a point. With that account size you should be trading one contract max and that's pushing it.

 

[fist-of-freedom]

You could trade 5 contracts, however if you do you'll probably blow your account very quickly. 5 contracts on the ES is $300 a point. With that account size you should be trading one contract max and that's pushing it.

Ok that's what I thought. Thank you very much :clap:

I strictly trade the TF, and I will be starting with 1 contract. Under-capitalized? Sure. But not impossible!

 

[Kinchin]

I strictly trade the TF, and I will be starting with 1 contract. Under-capitalized? Sure. But not impossible![/QUOTE]

But almost impossible! My hat goes off to you if you can make money long term with a capital like that!

 

[timsk]

Hi f-o-f,
Welcome to T2W.

Take a gander at this FAQ - it covers the perils you face: How Much Money Does a Trader Need To Start Trading?
Enjoy!
Tim.