Instruments and markets
NAS100
The common symbol for an instrument tracking the Nasdaq 100, an index of the largest non-financial companies listed on the Nasdaq. It is the most volatile of the major US index instruments.
Also called: Nasdaq 100 · US Tech 100
GFN’s figure
On a $100,000 GFN Instant account the daily allowance is $3,000 - the tightest of the three programmes, and the one that a volatile index instrument consumes fastest at an unadjusted size.
In detail
NAS100,explained
Heavy concentration in a small number of technology companies makes the index sensitive to individual earnings and to interest rate expectations, which is where most of its range comes from.
Its volatility is the attraction and the hazard. The same position size that behaves reasonably on a broad index can produce twice the swing here.
Related
Terms thatcome with it
Most rules only make sense next to the ones they interact with. These are the entries this one depends on.
Indices
Instruments tracking a basket of shares - the Dow, the S&P 500, the Nasdaq 100 and their international equivalents. Traded as contracts for difference, they give index exposure without owning any share.
US30
The common symbol for an instrument tracking the Dow Jones Industrial Average, a price-weighted index of 30 large US companies. It is quoted in index points, each worth a fixed amount per contract.
SPX500
The common symbol for an instrument tracking the S&P 500, a market-cap weighted index of 500 large US companies. It is the standard benchmark for the US equity market.
Position size
How many lots a trade is placed in. It is calculated from the dollar amount being risked and the stop distance, not chosen first - which is the reverse of how most traders approach it.
Daily loss limit
The most an account may lose in one trading day before it breaches. Calculated as a percentage of the previous day's closing level, it resets at a fixed time each day and is the rule that ends most evaluations.
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