daytrade with less than $25000?

Quote from paul_alan:

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...
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Ah. So the problem is within the UK brokerages. Interesting.

Osorico
 
Quote from paul_alan:

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 :(
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Sure you can, learn to daytrade dia, spy or qqqq then apply the same signals to ym, es, or nq.
 
Quote from ssss:

I really want to daytrade stocks but dont have anywhere near the 25k required.

Try to disscus with www.questrade.com Canada
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Be aware though that if you're going to daytrade US stocks through Questrade, make sure you open a US Dollar account to avoid all of the spread fees on currencies. If you trade US stocks from a CDN funded account, you'll get hit with a spreaf of 2.5% between the two sides of the trade. Can really add up...

Other than that, they clear through Penson. I've had no problems getting fast fills since the start.
 
demoing their online platform now. Can't say that I like it in fairness. Only one trade so far. Bought NTAP at 33.04. currently up around 60c.
 
what does that 'net amount' mean? I assume I bought 100 shares? (I typed in 100 in the 'quantity' column before buying)

I couldn't seem to find a running profit/loss amount whilst I was in my trade.
 

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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.
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You can go with a prop firm that has good rates. You can get something like .005 in some cases.
 
opened a new trade as an experiment. 100 shares. Price hasn't moved but it's saying my p/l on this trade is -$29.50. What's that about.

not a bad exit on that NTAP trade.
 
Quote from paul_alan:

opened a new trade as an experiment. 100 shares. Price hasn't moved but it's saying my p/l on this trade is -$29.50. What's that about.

not a bad exit on that NTAP trade.
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questrade's webtrader platform is not robust..... it simply shows you the net p/l based on the previous days closing price.

You might want to look at their Axis product for more active traders, or cybertrader pro. those should have real time p/l calculations.
 
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