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That article is right, but is only talking about day trading in cash accounts. You should only be day trading in a margin account.

Just wanted to mention I now know of 3 people using All Day Traders. All are under $25k and all are day trading more than 3x per week (some substantially more than 3x... right Russ? you junkie).

That is one day trade. The bottom line on a day trade is that a day trade is a buy and sell of the same security on the same day. If you buy a stock, and then sell in 2 or more pieces it is still only 1 day trade.

There is value to Level 2, however it mostly lies in scalping (going for a few cents). In scalping you are looking for strength or weakness at the bid or ask. Looking at who and how much size there is at each price. You can often see the smaller moves coming by the bid or ask side "loading...

No way it will happen going direct access, because if you removed liquidity the brokerage firm could actually lose money on the trade because of the ECN fees. You know they won't let that happen.

I respectfully pull myself from this thread. My friend with the AllDayTraders account will be joining ET and you can ask him questions directly. His name is Russ. Good luck to all.

Amanda Grove was the hottest chick ever on CNBC. She left a couple years ago to be a regular news anchor. Maria used to be hot around 6-7 years ago, now she just looks old and tired.

Sorry, don't know who posted a somewhat edited of my original message on Yahoo, perhaps someone who works at that firm. I should call them and ask for a paycheck since they apparently like my message so much. As far as I'm concerned I don't really care who anyone else trades through. I day trade...

That's going a little too far. Even though the automatic negativity to any new idea is not unexpected at elite, to go as far as to say its a scam is definitely jumping the gun, especially from an uniformed person such as yourself. If you are not uniformed, then name someone who's been scammed by...

Do you guys think it's impossible to make money actively trading with less than $25k?

I'm not sure, but I would assume the commissions are somewhat negotiable. Also, I bet part of why the commission rates are on the high side is because they are offering something that basically nobody else can (except prop firms). I mean where else can you day trade all you want with less than...

Not real sure about the statements, I would assume you get one but not really sure. You should probably email the company directly with that question: trading@alldaytraders.com They are not a US broker, so they will not report anything to the IRS. It would be up to you what you report. The...

I must be really crazy then, because I've been trading fulltime since 1996. If all I've been doing is losing money, who's been paying my mortagages all this time (notice the "s" in mortagages, as in plural, trading has paid the down payment on all my investment properties). Damn I guess I'm...

This is the way I look at it (and believe me my friend and I talked at length on the subject). Maybe you start with a small amount like my buddy did. He deposited only like $3k at first. He's been there a few months and recently he depositied another $9k+. Obviously this is a new idea, but if...

Sorry about those posts I was 2 sheets to the wind when I wrote them. My buddy has been using the service through the website www.alldaytraders.com and he says it is legit. Like I said it's not for everybody, but day trading under $25k seems like something many people might be intersted in...

They have apparently been in business for several years. However they just worked this deal a few months ago with the US firm my friend and I both used ( I still use) that allowed them to break into the day trading market. (This is sort of amusing because my buddy is actually here with me and he...

A trader friend of mine has been looking for a way around the NASD day trading rule, which states that you must have an account over $25,000 in order to day trade everyday (I don't worry about it myself because I have much more than that). Anyway, he found this firm that is not located in the...

Seriously, so many people willing to post and bash the guy. Why doesn't someone of you bashers put up the measly $200 and try the room? It's not like that's alot of money a trader can make it in one decent trade easily. Then come in here and say whether it's worth it or not. I can't believe...

Shogun, don't worry about all the negativity. Unfortunately, it is normal on elite. Many of us have experienced it when trying to offer some insight. There are so many "traders" here that are negative jerks. Anytime you mention something that works for you or might work, they jump all over...

I wouldn't make "anticipation" trades. There are plenty of opportunities daily just for explosive DX crosses over MDI/PDI. Worst case (if you take enough shares) you can always jump out at .02 (or even .01). Those are filler trades and add up to decent profits over time (even if you only net...