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Perhaps this will help to explain the role of SIPC, it does seem they will cover cash as well as securities. from SIPC.org: "When a brokerage firm fails owing customers cash and securities that are missing from customer accounts, SIPC usually asks a federal court to appoint a trustee to...

Orbis has a demo version of their software, however I believe they charge a fee. I used this product for over two years with a prop firm. The functionality and ease of use is quite simple and the charting features are very basic. However, it may work for what you're looking for, here's the...

Prop firms will give you 10:1, 20:1 or even more, depending on how much capital contribution you make, and your risk management skills. Most will allow for daytrade only, some do allow for overnights, although the cost of carry ("haircuts") is usually more expensive than having a retail...

Before you enter a trade on C and BAC, do you also view the top holdings in the XLF in a watchlist? And is there a criteria for entering based on what those holdings are doing (example: they must all be in synch for the day, or long the ETF while short the stock as a hedge, etc). The current...

You state that you are "under-capitalized" yet you wish to daytrade, which means that if you become a PTD (pattern daytrader) the broker is going to want 25k minimum in the account. You can avoid this by not getting "flagged" as a PTD. If you require buying power, then you can always join a...

Looks like they gained market share with their acquisitions and raised rates to recoup all the costs. I know a trader who just wired in his funds during the holidays, and the site had the old rate, so this is quite new. It will be interesting to see if Speedtrader keeps its rates at $.39...

It seems so, here is the SEC.gov's document regarding this: http://www.sec.gov/rules/sro/cboe/2010/34-62977.pdf And here's the paragraph that relates to WinstonTJ's post: "CBOE is considering various alternatives for an appropriate qualification examination(s) for Trading Permit Holders...

Actually, "MoneyMatthew" is looking for a registered prop firm, as quoted here: "If any of you could recommend a CBOE/CBSX registered firm I would appreciate it. My main requirement is that the minimum deposit be $5K or lower." To clarify, the "PDT" rule I believe is for retail accounts...

1217.25 was the low, so why the target of 1217? If it breaks by a tick, then the next support would suggest a much lower price. It went up 10 handles after hitting 1219 on the pullback, so not sure why you did not scale out at that point. In any case, best of luck.

Have you used DasTrader Pro? If so, then can you comment on the pros/cons vs Sterling, thanks.

Not the best risk/reward play, but damn, if you got out then it was still a winner. Or is the greed factor causing you to stay in take "revenge" on "Mr. Market?"

Thanks, it is certainly appreciated of your being genuine with the situation. Definitely a great learning experience regarding the psychology of trading. Yesterday was narrow range on the SPY, today seems wider, and if the open was indeed a classic "exhaustion gap", then you will score by...

Any retail investor, financial planner, mutual fund manager who is buying the S&P today should be asking this question: "I am going LONG with yet another GAP on the SPY on the SIXTH consectutive day up in a market with LOWER daily volume because..." Or better yet: "I am going LONG on every...

Good point. Although I agree with many of Don's posts, there has to be a transition point from the "100-500 share lots" to using the "million or so" of capital. Is it based on consistency of profits, is it based on the ability to properly manage risk, etc. Still, starting out with $50k is a...

Correction: It is "SIPC" and not "SPIC". From the site, SIPC.org: When SIPC gets Involved "When a brokerage firm is closed due to bankruptcy or other financial difficulties and customer assets are missing, SIPC steps in as quickly as possible and, within certain limits, works to return...

It does seem there is a "forced" hold up of the ES, perhaps due to the short covering of the ES as you mention. However, the pattern usually fails when it has consectutive daily up bars on LOWER volume, thus leading to a pullback/correction (see SPY chart Nov 3-4-5). I do agree with the 1,227...

Yes, and the posts by Maverick74 and CQNC make some very valid points. The question that has not been answered is which Canadian firm(s) that do not have a U.S. presence will accept U.S. based remote traders? CQNC provided a solution whereby one can incorporate in Canada as a workaround...

There are advantages/disadvantages with both models. One has to consider other factors besides just the commission. Of course, it's always best to get the lowest commission, especially if the CBSX firms begin to cap their traders at 90% payout. What about regulatory oversight? Do Canadian...

Where did you find that Canadian firms accept U.S. citizens? Can you please name some firms?

SPX 50day moving average support sits around 1,175 4 bar run up from 1,175 to 1,225 Breakout could occur above 1,227 If no breakout, then 50% retracement puts it back around 1,200 Say your Fibonacci prayers, and best of luck!