Daytrading with 10K (How)?

Samson77 · Nov 23, 2005

I have a new intrday strategy that I want to test out live but I don't feel like locking up 25k in my test account (I want to keep it seperate from my main account for tax purposes).

How can I do this ?

Suggestions other then Alliance Capital (too expensive).

Thanks.

bonds · Nov 23, 2005

why dont u just open a prop account... some u only have to put down 2-3k and they give u 50-100k buying power. you will only get about 70% of ure profits, but just use it to fine tune ure system and when ure ready just open ure own retail acct with 25k or whatever u want.

Samson77 · Nov 23, 2005

Quote from bonds:

why dont u just open a prop account... some u only have to put down 2-3k and they give u 50-100k buying power. you will only get about 70% of ure profits, but just use it to fine tune ure system and when ure ready just open ure own retail acct with 25k or whatever u want.

I thought about that but I don't want to be forced to overtrade the method too early and prop will expect that of me right.

traderich · Nov 23, 2005

why don't you buy a seat into the 2006 WSOP main event.

You too could become a millionaire!

Samson77 · Nov 23, 2005

Quote from traderich:

why don't you buy a seat into the 2006 WSOP main event.

You too could become a millionaire!

OK but I tried that in 2000 and 2001 and couldn't get past the 6th round.

I made more money in private games and high limit.

SethArb · Nov 23, 2005

try 100 share positions in single stock futures

( ok the universe of stocks might be too small for
your methods )

stockerup · Nov 23, 2005

Quote from Samson77:

I have a new intrday strategy that I want to test out live but I don't feel like locking up 25k in my test account (I want to keep it seperate from my main account for tax purposes).

How can I do this ?

Suggestions other then Alliance Capital (too expensive).

Thanks.

Sounds like the old "I've got this friend......." Maybe you've taken a hit and you're down to 10K and you're trying to figure out what to do. If that's the case, I suggest you stop trading until you get 25K or learn to live with the 3 trades a week for a while.

Samson77 · Nov 23, 2005

Quote from stockerup:

Sounds like the old "I've got this friend......." Maybe you've taken a hit and you're down to 10K and you're trying to figure out what to do. If that's the case, I suggest you stop trading until you get 25K or learn to live with the 3 trades a week for a while.

:eek:

Nope, I just want to try this out live and if it's doable with 200 share lots to start it's easily scalable.

Seth

Thanks but I need to cover too many stocks for sf's

stockerup · Nov 23, 2005

Quote from Samson77:

:eek:

Nope, I just want to try this out live and if it's doable with 200 share lots to start it's easily scalable.

Seth

Thanks but I need to cover too many stocks for sf's

If you're just trying to test a strategy, how can scaling 200 sh lots hurt you tax wise.

Do it in your main account, if it works then keep doing it. If it doesn't work, stop. How hard can that be?

Samson77 · Nov 23, 2005

Quote from stockerup:

If you're just trying to test a strategy, how can scaling 200 sh lots hurt you tax wise. Do it in your main account, if it works then keep doing it. If it doesn't work, stop. How hard can that be?

It's not just tax reasons, it's also so I don't make trading errors etc, etc, etc...

If you can help, just help sheesh