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Jeffrey, ES futures are $50 per POINT, and the NQ futures are $20 per POINT. Therefore, 6 ES = 6x ($50x S&P500) = 6x ($50x1043.75) = 6x $52,187.5 = $313,125 Or as I previously posted 6 ES = 3000 SPY = 3000 x 104.375 = $313,125 Yes, some brokers allow $2500 daytrading margin per...

Banditzz, IRA account is a cash account. The new sec rules do not affect cash accounts (including IRA), because they're only about margin accounts. If not, will I still be able to make unlimited trades as long as I have money in the account to cover the securities purchased? Yes. (Other...

tuna, A cash account can be updated in realtime while all transaction are settled T+3. As I have shown in my previous post. tuna wrote: If you sell the securities, you "must still deposit" the funds within three business days. Dead wrong. If you sell securities you do not have to...

rafat, 1. Yes. If you have a cash account you can trade as many trades every day you want while waiting for T+3. (Although not all brokers allow daytrading in a cash account. They are free to do so.) 2. There's no margin for cash accounts. For margin accounts below 25k, the 2:1 margin...

Don't reveal your best strategies to Satan. Only to ArchAngel and other benevolent brothers and sisters in trading. :p

Best of luck next month. It's been almost a year since you started daytrading. When will you start trading Nasdaq stocks? Fohat

Zarrar, Datek gives 4:1 daytrading margin to those with less than 25k margin accounts. Overnight margin remains 2:1. Magna wrote: the T+3 Settlement rule applies to you withdrawing funds from your cash account, not daytrading within the account....for cash accounts, you have no margin...

Nasdaq, NYSE and SEC can't "touch" commodities futures and options tradining because they do not have jurisdiction there. Commodity futures and option markets are regulated by CFTC, an independent agency created by Congress, not SEC. But SSF (Single Stock Futures) are different story...

dufferdon, It's not over. The rule can be changed. Rules change. Just yesterday Nasdaq changed its longtime rules and allowed sub $1 stocks to continue to be listed on Nasdaq, instead of delisting them. The same way Market forces will put pressure the uptick rule to be changed (MMs...

jskeldon, Some brokers interpret the purchasing and selling of the same security during the day as only 1 daytrade. Thereofe, with those brokers you can trade hundreds of times the same stock all day and this will be considered one daytrade. With less than 25k, maximum of 3 daytrades in 5...

Datek offers 4:1 buying power to all margin accounts, even for those with less than 25k. The calculation of daytrading bying power at Datek is as follows: [75% of the Long Stock Value (LSV) - 130% of any Short Stock Value (SSV) + Cash] x 4 It would be nice if IB displays the buying power...

Cash accounts are not affected, because both new rules are only related to margin requirements (NASD 2520 and NYSE 431 MARGIN requirement amendment rules). The new rules are only MARGIN requirement amendments of existing rules, therefore they don't affect cash accounts, because no margin is...

When do the new margin rules take effect for Nasdaq? Tomorrow or Monday? Today at midnight. Tommorow morning, Spet.28, they'll be already in effect. Fohat

Yes, one can make a living trading futures. Why else trade them? To loose money? Are there traders here actually making a living trading them exclusively? Yes, more than a hundred traders in s&p chat room on Othernet(irc) make a living by exclusively trading futures. How many contracts...

jkm, The new SEC rules affect margin accounts only, they do NOT affect cash accounts. Therefore, you can continue daytrading with a cash account with less than 25k, but not all brokers offer daytrading in a cash account yet, although it's allowed by the law. Cash accounts will probably...

punter, Why on earth you will trade 1 share lots, except for testing? With 1 share lot you need 2 points move in the stock, just to break even ! Moreover, same stock 1 share lot buying/selling the same day is considered "daytrading", and with this activity your account will be marked "Pattern...

Caveat Emptor

huby, The limit up/down in futures, actually slows down the market and protects the futures trader from sharp moves, it doesn't stop futures trading. When futures are locked limit down, trading is allowed but only at or above the limit price for 10 minutes, thus slowing the sharp price...

You actually "pay" the initial margin for each emini contract, which really is "a good faith deposit". The exchange(CME)<a...

klin, Not only that, on top of SIPC IB provides an additional 9.5 million in securities account protection through American International Group (AIG). For a total of 10 million account protection, 1 million of which is for cash. On the other hand IB is constantly one of the top 15 NYSE...