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Daytrading the QQQ and SPY is great practice for trading the ES since they move in similar fashion. The ES spikes more of course, so when you trade them maybe use a 5 or 10-minute trading plan. Trading off 1-minute bars is difficult even for the seasoned trader. The longer timeframe bars filter...

The date it went into effect was indeed 9-28-01. Or should I say "affect" just to trip up your grammar checker? I dont know what it is this week, but we seem to have a rash of new members who's sole purpose here is to break the balls of everyone around them. Must be the volatility in the markets.

What is this an English class? You've pointed out every single typo ever posted. This is a message board not an entrance exam for Harvard. Just what we need here, another Miss Manners monitoring everyone for clarity and content.

What the hell's your purpose here, to promote O-X or denegrate IB? Enough already; you've made your point ad nauseum. Either state something useful or don't let the mouse bite you in the ass on the way out.

Boy does this ever look like the same bounce off the July lows. If the pattern holds then we'll get a minor retest of the Oct lows and another rally then a great shorting opp.

9-28-2001

Can you trade options from a cash account? If yes, that may be how they get around the PDT rule, but then the freeriding can of worms pops open, with the 3-day settlement etc.

Puffy - That's what I was trying to say; the request for funding is not mandatory, unless you want to trade again before 5 days have passed. So really your actual daytrade limit is 2 since you don't want to take that 3rd trade because if you have to exit it then it's your last for a few days...

THE answer!! :D :D :D

Same here. Also Mr. OptionsXpress has posted 4 times in 4 different forums with the same blantant response.

yes - 1 trade. Also - and this is big with IB - after you make your 3 daytrades with IB you will not be allowed to open a 4th position until either 5 days elapse from your first trade or you deposit funds to 25k. Some other brokers will not cut you off until you close that 4th daytrade; IB...

Aphie - Take a look at AllenZ Journal - he's also daytrading the e-minis and putting up pretty good numbers. he explains his trades well and is very informative. http://www.elitetrader.com/vb/showthread.php?s=&threadid=9429

Interesting how these 2 posts are just 2 minutes apart???

Gawd almighty. Mister apheXcoil is it?

Very good broker. A few glitches here and there but overall it's been a good trip. Been with them over a year, about 2500 or so trades, and I'm very pleased. Def is associated with IB and frequently posts here on ET. He's very responsive to everyone's issues.

How would Dik Burns, who just registered as a new user in Oct 2002 know about FPC's posts?:p

Aphie - I lost over 8 grand on a 15k account when I first started trading, and that was w/out even touching the futures. Just daytrading stocks. I was a cowboy who knew everything and read all the books first. Then I took off a few weeks and learned the ropes, then came back slowly with slow...

This week has been murder for the daytrader. 25-point gaps up then 10-point rangebound days. And as an overnighter you don't know what the hell will happen tomorrow. Up 250 then down 200. Typical earnings week. Put up a multi-day 5-minute chart of the indices and it looks like a friggin' square...

I'd bet you'd trade 1000 of your posts for 1000 trades of experience now. That's why we were jumping on you before; paper trading and backtesting means NOTHING until real capital is on the line. When i test a new trading plan I use 100-share lots to see how slippage and market conditions...

The longer the timeframe the less the stress. Starting out your trading career by trading the futures is like a first-time driver learning to drive a city bus instead of a Volkswagen. Swing trade the less-volatile listed stocks until you get your trading legs.