Warp,
you need to get info from people already trading Dynamic Funds as many times they don't operate exactly as advertized.
I have 2 accounts in which I trade Rydex dynamic funds: one directly in Rydex, and another in E*Trade.
Rydex:
Minimum to open an account: $25K. Once inside you can trade any quantity and make redemptions without any charge, even if your principal falls beneath $25K.
(Note: I called them to transfer an IRA for a friend, and I told them that it didn't reach $25K as it was a new Roth IRA. They told me that that minimum COULD be waived. I never did the transfer, so I don't know if they would really do it. It doesn't hurt to ask. Just don't quote me!)
E*Trade:
There's a minimum to trade Rydex, and I'm not sure whether is $15K or $25K. (sorry) Now once you get into a Rydex fund, the trick is not to sell it, but switch into another fund of the same family. If I want to go flat I switch half the amount, and have same value in 2xNDX and -2NDX cancelling each other. (Or any position in between)
There's no charge for switching between the same family, and no charge for redemptions. (selling any amount of Rydex fund for cash) They advertise a nominal fee for early redemptions, but they never charged me it. (And I do them all the time)
Hope this helps.
Huluriasquias.
