I just subscribed to the above trading system keeping in mind that account should be $50,000 according to the info but when I went through the wizard it said a full account is $83,000 and I tried to scale down to 60% to match my capital but a note about that it can be multiple of the 100% but not less and I should use the limits on futures contract no which I did not understand
Any one can tell me how to make the system trade up to $50,000 account size and why the contradiction between the info and the real thing?[LINKSYSTEM_55944572]
I believe the warning about not going less than 100% scale is because the system routinely trades just one contract at a time. Since it’s not possible to trade fractional contracts, you’d always be following the system at full trade size even though your account equity is a fraction of the system equity. The end result is that you would always be overleveraged to the system. You might want to contact the system vendor to see if he believes that will be a problem.
The futures contract number limit is like a safety valve to prevent AutoTrade from going long or short more contracts than your margin maintenance requirement can handle, by mistake. This is just in case some error occurs in the synchronization. Since the system only seems to trade one contract at a time on each trade, you could, probably, set this to 2 or 3 and be safe.
Thanks for your help but I’m confused about the max no of contracts is it the total no of open contracts at one given time for my account or the maximum no of each type of contract traded in the account for each trade?
[LINKSYSTEM_55944572]
I think it’s the maximum per trade. So, if someone scales in and out of a position, you have to be careful not to set it too low.
Of course you are welcome to size however you want, however all signals for Futures Trader Daily mini are entered assuming a $50K account balance. Ignore the model account values, it is designed to trade at 100% sizing with a $50K account.
The full Futures Trader Daily is designed to be traded at 100% with a $100K account.
Unfortunately because resizing the equity down to $50K (mini) or $100K (full system) requires closing all positions I have not been able to do it. I hope to find a way to do it over the next few weeks as it will make all of this easier.
Regards,
Dave
