I wired money to AMP yesterday

[Scataphagos]

Thats why i love ach with brokers like td ameritrade, money in and out instantaneous, no fees, no trip to the bank.

fcm's are limited though because of segregated funds.

of course that didn't help mf global! lol.

My experience with ACH has been somewhere between "next day" and "4-5 days", depending upon the institution(s). Protocol for ACH says, "up to 6 days"... and of course that's BS.. they're just "playing the float" for whatever tiny amount that is these days of ZIRP.

Wires... those are same day if you meet the cut-off times*. Otherwise, next day.

*I once had a broker charge me $30 for a "wire transfer between accounts WITHIN THE SAME BANK!" How's that for abuse?

 

[VEGASDESERT]

My experience with ACH has been somewhere between "next day" and "4-5 days", depending upon the institution(s). Protocol for ACH says, "up to 6 days"... and of course that's BS.. they're just "playing the float" for whatever tiny amount that is these days of ZIRP.

Wires... those are same day if you meet the cut-off times. Otherwise, next day.

td ameritrade will immediately let you trade with ach funds even though it hasn't cleared.

there is restrictions on trading options and under $5 stocks..

 

[They]

Did you get a print out of your wire? Does it show the 'For further Credit to segregated account bla bla bla'? If yes, just take a photo of it and email it to AMP. If not, you or you bank did not follow Amp's wiring instructions.

If you did not get a print out of your wire then this is a learning moment for you. Either way its not a bad omen, your funds will be located and they will end up in your account. Patience Grasshopper.

 

[Scataphagos]

td ameritrade will immediately let you trade with ach funds even though it hasn't cleared.

there is restrictions on trading options and under $5 stocks..

I once opened a futures account with a check... broker wouldn't clear it for trading for "9 F'n Days"! (Broker could have called the bank to see if the check would clear, you know!)

Just goes to show... if you're a financial person, you want to grow up to be a bank/insurance company/broker... where you can "get away with charging all kinds of fees and other abuses."

 

[TimtheEnchanter]

Did you get a print out of your wire? Does it show the 'For further Credit to segregated account bla bla bla'? If yes, just take a photo of it and email it to AMP. If not, you or you bank did not follow Amp's wiring instructions.

If you did not get a print out of your wire then this is a learning moment for you. Either way its not a bad omen, your funds will be located and they will end up in your account. Patience Grasshopper.

I did that. Now I am waiting for my bank to open.

 

[xandman]

I should have about $3500 at AMP and I figured if I go down to $3000 I quit futures all together.

You have to trade as small as possible or it will be the shortest experiment ever. Pros were recommending $30K capital on a 1 lot back when ES was only half the notional value and half the volatility.

If it's scalping that you are doing, I hope you cut your teeth on SPY. Good luck.

 

[Scataphagos]

You have to trade as small as possible or it will be the shortest experiment ever. Pros were recommending $30K capital on a 1 lot back when ES was only half the notional value and half the volatility.

If it's scalping that you are doing, I hope you cut your teeth on SPY. Good luck.

If you understand "Price TA" and can make "reasonable trades with tight stops"... then you can get by with <$30K/contract margin.

If you're NOT doing that, you should not bother with trading at all.

 

[MarkBrown]

did you kiss it goodbye? asking for a friend.

 

[TimtheEnchanter]

did you kiss it goodbye? asking for a friend.

What is this referring to? It looks like a "word salad", typical on ET.

 

[TimtheEnchanter]

You have to trade as small as possible or it will be the shortest experiment ever. Pros were recommending $30K capital on a 1 lot back when ES was only half the notional value and half the volatility.

If it's scalping that you are doing, I hope you cut your teeth on SPY. Good luck.

Do you realize that MES is $1.25 per tick and $5 per point? You must be confusing this with ES, which I am not trading.