2.
Leverage is Immense
The typical futures contract can be bought or sold for one to three percent of its total
value. For example, a 100-troy-ounce gold contract at $400 per ounce ($40,000 cash
value) can be bought for about $1,500-$2,000.
The balance of the money will, of course, be due if and when the contract is completed
(i.e., when you take delivery).
In the meantime, about $2,000 is controlling $40,000. In Treasury Bill futures, the
contract size is $1 million and the margin is about $2,500. In other words, you have
immense potential using small amounts of money.
This can work for or against you. It is the goal of the futures trader to make leverage
work in his or her favor.
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