2022 NQ/MNQ and ES/MES Journal - Small account challenge

[volpri]

Here are two alternative ways for #4. Number 4 above in post #41 got you in the second short leg. These two alternative ways get you short in the FIRST leg of the move. The alternative way#2 just gets you in a tad earlier than alternative way #1. Remember the idea is draw a trend line first between any two points then draw in the the horizontal on a significant swing high.

 

[NumberZ]

Less than half that. In a Think or Swim account. It is margin. I am going to try. Something similar. No plan yet though.

Started practicing small and live today. Moving monies around. Was going to use Fidelity but decided to use ToS. Will be moving action to cash account. Forgot PDT issue. Not an issue with cash account.

I can smell the $$$billions haha!

 

[volpri]

Started practicing small and live today. Moving monies around. Was going to use Fidelity but decided to use ToS. Will be moving action to cash account. Forgot PDT issue. Not an issue with cash account.

I can smell the $$$billions haha!

You still have to wait for a settlement date in a cash account to free up your funds to buy more. At least that is the way it used to be when I traded stocks. T2 …..execute on wed settles on Friday. You have to deal with “good faith violations” Screw up X amount of times per year and your account gets restricted by your broker for 90 days. Then you got to deal with “free riding” breaking RegT one time in 12 mo period and bam restriction again. Then “cash liquidation violation” bam restricted 90 days. All those restrictions may free up time to count those billions LOL.

Plus if I am correct you are limited to 3 day trades (buying and selling the same security the same day) per week (5 trading day period) in a cash account unless you got more than 25,000. You can buy a security and sell the next day and that is not considered a day trade. But you still have to wait for T2 to use those proceeds again. All day trades have to be made with settled funds. Plus no shorting and no margin.


Too many no no’s for me.

Hope it works out fer you.

 

[NumberZ]

You still have to wait for a settlement date in a cash account to free up your funds to buy more.

Options money is ready next day. But you are right. During day one could use up all buying power. Not be able to trade until next day. Stocks takes several days. In cash account. But options overnight settle.

Plus if I am correct you are limited to 3 day trades (buying and selling the same security the same day) per week (5 trading day period) in a cash account unless you got more than 25,000.

In margin account correct. Cash account unlimited trades so long as using settled funds.

Cash account + options = PDT hack.

Plus no shorting and no margin.

Shorting stock no. Buying puts, yes.

And no margin correct. That is how to get around PDT. PDT only applies to margin accounts. So in cash account no 4X margin for day trading. Limited to equity. Of the account value.

 

[NumberZ]

@DarthSidious what a rabbit hole you sent me down! spent too many hours reading reddit. Race to 10 million and discovered wall street bets. OMG haha

I'm going to do this. here at ET. working on how to start it.