daytrade with less than $25000?

P

paul_alan

Hi all.

I am wondering if their have been any advances in ways around the pdt rule in the last few years?

I really want to daytrade stocks but dont have anywhere near the 25k required. I wanna start real small just trading 100share lots as is often advised.

I make around 50-100c per day papertrading with my own system and strict money managment. I always deduct about 5% of my pretend profits as people often say demos want you to win (although i haven't seen any evidence of that)

I know of alliance who let you daytrade with only a few k but their commissions are real bad and they have lots of hidden charges. Are there any others? Are there any other ways around the rule? I would love to daytrade with IB but it looks like that wont be happening anytime soon.
 
trade futs. it's a much easier mkt anyways. futs move in reoccurring and reliable technical patterns: one of the most responsive mkt, imho. if you do well in stocks you should do even better in the futures mkt.

edit: limit yourself to just a couple, three trades max per day and you wont go broke if things dont work well.
 
thanks for responding, but that just really isn't the case for me.

I have given futures and forex a good go. Lost a little on both using real money. Then I decided I was being an idiot and began papertrading them both. Still could make consistently, but I learnt a few things from a great daytrader and began making pretend money everyday daytrading stocks.

I cant convert my method into trading the futures market :(
 
Quote from paul_alan:

Hi all.

I am wondering if their have been any advances in ways around the pdt rule in the last few years?

I really want to daytrade stocks but dont have anywhere near the 25k required. I wanna start real small just trading 100share lots as is often advised.

I make around 50-100c per day papertrading with my own system and strict money managment. I always deduct about 5% of my pretend profits as people often say demos want you to win (although i haven't seen any evidence of that)

I know of alliance who let you daytrade with only a few k but their commissions are real bad and they have lots of hidden charges. Are there any others? Are there any other ways around the rule? I would love to daytrade with IB but it looks like that wont be happening anytime soon.
More...

There are a gazillion "prop" firms (aka leverage-providing brokers) who will give you $200k+ in buying power with $5k or less as a deposit who will start you out paying $.004/share or less, depending on your negotiation skills.
 
Its probably worth mentioning im in the UK. Im not even entirely sure what a prop firm is. Would I be trading from home. Would there be lots of fees?
 
Quote from paul_alan:


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I am wondering if their have been any advances in ways around the pdt rule in the last few years?
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More...

LOL. Advances in medicine pale in comparison to advances in pdt workarounds.

You have choices:
1) Futures, options, bonds, exotic derivatives, baseball cards, etc
2) Trade through a non-US broker
3) Obtain a series7 license and go prop.
4) Become a member of a sub-LLC trading group.

Just posted and saw you are in the UK. PDT is a US law. Non-US based brokers are not affected by PDT. What is your problem?
 
Is is not a nasdaq law? I wanna daytrade nasdaq stocks. I only know of 'alliance' who are based in Jamaica who allow you to trade with under 25k.

You know of others?

cheers.
 
Quote from paul_alan:

Is is not a nasdaq law? I wanna daytrade nasdaq stocks. I only know of 'alliance' who are based in Jamaica who allow you to trade with under 25k.

You know of others?

cheers.
More...

You say you are based in the UK. PDT rules affect only US residents who trade through a US based account. Why do you need to go to outside of the UK at all? Is there something else you need to tell us?
 
I know of no UK firms that allow you to daytrade american stocks. Only Interactivebrokers.co.uk. They require 25k to daytrade US stocks

However, I have just notcied a Canadian firm called questrade who allow Uk citizens to open account without being restricted by the PDT rule...
 
Quote from FXTraderWill:

There are a gazillion "prop" firms (aka leverage-providing brokers) who will give you $200k+ in buying power with $5k or less as a deposit who will start you out paying $.004/share or less, depending on your negotiation skills.
More...

Please name 2.
 
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