Coughing up the $25k requirement for Pattern Day Trading

Hi,
I've been having some difficulties in obtaining the $25k.

I just quickly checked the definition of a Day Trader from the IB website

"Day Trade: any trade pair wherein a position in a security (stock, bond or stock option) is increased ("opened") and thereafter decreased ("closed") within the same trading session. "

So if I were to buy a stock and then sell it the next day, wouldn't that be OK and not be a Day Trader??

Thanks,
Ken
 
Quote from AeroKen83:



So if I were to buy a stock and then sell it the next day, wouldn't that be OK and not be a Day Trader??

Thanks,
Ken
More...

Thats right. You have to close the trade the same day for it to be a day trade.
 
Quote from JMowery1987:

Funny, when i asked don bright himself a few months ago, he told more more along the lines of "don't get in this game" and take a hike.

Why the change now? Does the firm now gain more money off of losers as well? I find this kinda strange, care to explain Don Bright?
More...

I'm always glad to explain the adaptations of our business. The program that I am speaking of here, as seems to be very well received (based on emails) is one where we can allow a person who would be trading retail anyway ...the opportunity to take part in strategies that are more capital intensive, and have a much better "risk reward" than many of the simple scalping or swing trading that most retail traders are stuck with.

This will give the traders who are stuck with the restrictions of 2 to 1 margin (and limited market access) a chance to do the opening only's, some pairs trading, and trade with enough size to actually make some money. We give access to the Goldman liquidity pools and short stock pools as well.

When they build their accounts up, they will be transferred to Bright Trading.

BTW, we make no money "off of losers" - if a trader doesn't do well, he leaves...that's why we work so hard with our continuing education plans, etc. to keep traders for the long term.

We have room for a few more, no license required...send email to don@stocktrading.com put ET in the subject line.

All the best,

Don
 
Quote from Don Bright:

I'm always glad to explain the adaptations of our business. The program that I am speaking of here, as seems to be very well received (based on emails) is one where we can allow a person who would be trading retail anyway ...the opportunity to take part in strategies that are more capital intensive, and have a much better "risk reward" than many of the simple scalping or swing trading that most retail traders are stuck with.

This will give the traders who are stuck with the restrictions of 2 to 1 margin (and limited market access) a chance to do the opening only's, some pairs trading, and trade with enough size to actually make some money. We give access to the Goldman liquidity pools and short stock pools as well.

When they build their accounts up, they will be transferred to Bright Trading.

BTW, we make no money "off of losers" - if a trader doesn't do well, he leaves...that's why we work so hard with our continuing education plans, etc. to keep traders for the long term.

We have room for a few more, no license required...send email to don@stocktrading.com put ET in the subject line.

All the best,

Don
More...

I understand now, just wondering what was going on.

I'm at another firm now getting ready to trade stocks, pretty much my only chance.

"....the opportunity to take part in strategies that are more capital intensive, and have a much better "risk reward" than many of the simple scalping or swing trading that most retail traders are stuck with."

Just curious what you mean by that?

You saying you have strategies that are better than retail traders that are "stuck with" their strategies. You mean, you offer lower commissions or more leverage than retail traders can get?

Otherwise, why wouldn't a retail trader be able to implement any strategy that your firm or any firm for that matter could?



Thanks for clearing things up.

Just curious as to the start-up capital required to trade with Bright?
 
Does any regular stock trading firm offer 10:1 margins? How do they charge you for this. For example do any firms offer hassle free 10:1 margins, with a low transactional cost ~$4, and an interest on the borrowed amount under 10%.

For example, a 10k deposit would give you 100k in buying power, you only pay interest on what you use, when you use it.

Thanks
 
Quote from JMowery1987:

I understand now, just wondering what was going on.

I'm at another firm now getting ready to trade stocks, pretty much my only chance.

"....the opportunity to take part in strategies that are more capital intensive, and have a much better "risk reward" than many of the simple scalping or swing trading that most retail traders are stuck with."

Just curious what you mean by that?

You saying you have strategies that are better than retail traders that are "stuck with" their strategies. You mean, you offer lower commissions or more leverage than retail traders can get?

Otherwise, why wouldn't a retail trader be able to implement any strategy that your firm or any firm for that matter could?



Thanks for clearing things up.

Just curious as to the start-up capital required to trade with Bright?
More...

Well, first off...our traders may put in $2Million worth of "Opening Only" orders with automated spread sheets, and try to make $500-$1,000 by doing so...not really risky, just capital intnsive. Same thing for pairs trading, many traders like to spread their market risk by having market neutral pairs of stocks (Long HON, Short GE, trading in and out using some quant data), etc.

When margin is involved, then sometimes you have to sell some of your GE to free up some case before you can buy some other stock...not good when the market is rallying.

Our traders generally start with $15-$25K, but we have a couple of alternative plans for those who prefer to stay "retail" but just get more buying power...you can PM me if you want to know a bit more.....thanks,

Don
 
Quote from Preston Forbes:

Does any regular stock trading firm offer 10:1 margins? How do they charge you for this. For example do any firms offer hassle free 10:1 margins, with a low transactional cost ~$4, and an interest on the borrowed amount under 10%.

For example, a 10k deposit would give you 100k in buying power, you only pay interest on what you use, when you use it.

Thanks
More...

Genesis said they would offer me 10 to 1 margin, but I am not sure if I was a special case or not but I went with a prop firm using the Laser platform instead for 30 to 1 margin, but e-mail Genesis and ask, they have a really nice support team.
 
Quote from Don Bright:

Well, first off...our traders may put in $2Million worth of "Opening Only" orders with automated spread sheets, and try to make $500-$1,000 by doing so...not really risky, just capital intnsive. Same thing for pairs trading, many traders like to spread their market risk by having market neutral pairs of stocks (Long HON, Short GE, trading in and out using some quant data), etc.

When margin is involved, then sometimes you have to sell some of your GE to free up some case before you can buy some other stock...not good when the market is rallying.

Our traders generally start with $15-$25K, but we have a couple of alternative plans for those who prefer to stay "retail" but just get more buying power...you can PM me if you want to know a bit more.....thanks,

Don
More...

Thanks for clearing things up, and Funny article you posted in the other thread, had fun reading it.
 
Quote from Don Bright:

OK guys...please reply only by PM. I can bring on a few non licensed traders with less than $25K and allow them to use $100K or more...trade remote, fair pricing.

We are only bringing on 25 people at this time.
All the safety, liquidity pools, and security of Bright.
Canadians welcome, all provinces.

Send PM with phone number and we can chat.

Don
More...

Don why don't you have a presence in NYC?
 
Yes i have to agree with chewbaba
Don u should considered having an office in NYC there are lot of trader and they might be interested in working with u - ?
 
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