Below you will find all the information related to our Brand new Microfutures 9k Account.
We are introducing a new way of Drawdown calculations for our Microfutures Account. (please refer to 2.)
This is exclusive for CME Micro E-Mini Nasdaq (MNQ), Micro E-Mini ES (MES) and Micro E-mini Russell 2000 futures (M2K).
Account Balance ------$9,000
Profit Target ---------- $900
Maximum Contracts ---5 Micro contract
Daily loss limit---------$350
Maximum Drawdown ----$800
Minimum 15 days of operation.
Swing trading is allowed during the week but all positions must be closed during the weekends.
Monthly subscription ---- $89
1. How much are the commissions?
In the Microfutures 9k Account, commissions are $.50 per side per contract - $1 round-.
MNQ and MES $.50 per side.
2. How is Maximum Drawdown Calculated?
The Maximum Drawdown is $800 and it is calculated at the end of the day. Meaning that only the final Account Balance of the day will count for your Drawdown to be recalculated.
Ex. If you start your trading day at $9,000 and you place a trade that win $300, then the next trade loses $100, at the end of the day your Account Balance will be $9,200 and your Drawdown will be $8,400.
If you reach Maximum Drawdown at any time of the day, the rule will be considered broken.
3. Can I Swing Trading?
Yes, you are allowed to swing trade, which means that you can leave positions open during the week. A full trading week is calculated beginning Sunday at 5:00 pm CT and ends Friday 3:10 pm CT. Be aware though that ALL positions must be closed during the weekend, so by 3:10 CT on Friday.
If you would like to place a stop for this kind of trade, please use a GTC (Good till cancel) order. This type of order will remain in place after the market closes. You may not be able to place new traders or close current trades from 3:10 pm CT to 5:00 pm CT.
4. What does it mean to have "Max 5 Micro Contracts"?
5 Micro contracts are the maximum amount of position/contracts allowed at any moment during your Microfutures 9k Program. You can combine the 5 positions throughout different markets, but you can not exceed 5 positions at any time.