[smallfry]

I am a new trader and I like the possibility of YM trading.
There are some things i know about YM and some things I dont. Can anyone hlep fill in the blanks?

I know that YM works off a point system with each point being worth $5, so if i buy one contract long at 12330 and sell at 12335 then i made 5 points times $5 per point for a $25 net gain.

I have also been told that YM doesnt devalue over time like options but that it just expires on the third Friday.

1. What I dont know is what a contract costs to purchase.
2. Like if I wanted to buy one contract for June 08 Futures.
3. What if I wanted to buy June?
4. I also dont know if there are trade limitations on daytrading accounts under 25k like options.
5. If I only have enough in my account for 2 contracts, is there a limit of times i can scalp in and out of the market in a day?
Thanks everyone!