1. What is a Futures contract?
The Financial markets are a large auction market. Buyers and sellers are executing trades and this supply and demand creates price action trying to find value.
Futures contracts have been traded in the United States for more than 150 years and have been under Federal regulation since the 1920s. YM futures are small versions of the index futures contracts that trade the index that tracks Dow Jones Industrial Average stocks as the underlying asset. Thus, as the aggregate value of the stocks included in the Dow Jones rises and falls, so will the value of the emini futures. The profit/loss for YM is $5 per tick respectively. This means for each point, the trader will profit or lose $5 per contract traded.
2. What is the YM?
The YM futures market is based upon the Dow Jones stock index, which is one of the primary stock indexes of CBOT (Chicago Board of Trade) in the US. The Dow Jones index is calculated using the prices of the included companies and a divisor that is published by CBOT. The YM futures market is traded on the ECBOT electronic trading system, 24 hours per day from 6:15 PM Central Time on Sunday night to 4:00 PM Central Time on Friday night. The profit/loss for YM is $5 per tick respectively. This means for each point, the trader will profit or lose $5 per contract traded.
3. How much money do I need to start a trading account?
That will depend on your broker’s opening balance requirement and day trading margin requirement. Some brokerages have day trading margin requirements as low as $500 per contract traded, with an opening balance of $1,000. Some require as much as $2,500 per contract with an opening balance of $5,000. The lower the day-trade margins, the higher the leverage and riskier the trade. Leverage can work for you as well as against you. It magnifies gains as well as losses.
4. How much are data feeds and charting software?
The brokerage and data feeds are usually free as long as you open a brokerage account with that company. MSLO's Head Trader, Rick Carter, uses NinjaTrader for his charting software and data feed.
5. Are there any up-sells or requirements to spend more money?
No, purchasing our Indicators and/or our MSLO Trading Book are completely up to the trader and are not required for joining our trading room. It is recommended that new traders purchase our MSLO Mentorship program to ensure a complete understanding of our trades.
6. Can I trade part time and still maintain my regular job?
Yes! We recommend new traders keep an alternative form of income when first beginning to trade. Traders will graduate throughout the learning curve becoming more familiar with price action, market momentum, and pivot points on different time frames. The highest probability trades occur between 9:30am and 11:30am EST. Screen time is the most important tool to accelerate a trader’s learning curve and understanding of the market and its tendencies.
7. Does MSLO offer Quarterly or Annual Membership discounts?
We offer discounts for Quarterly, Annual, and other Membership package deals. Write us an email at info@MSLOtrading.com with details on what fits your needs and we will work with you!
8. Do you offer Refunds or Returns?
MSLO Members can cancel their membership at any time and no future payments will be billed. All sales on MSLO Indicators and our 1v1 Training deals are Final and No refunds are allowed.