EFTs

S

staq

Are EFTs immune to the daytrader rules?

Can someone give me advice as to which EFTs/futures are good to swing/daytrade trade with a small account($5000).

My thinking right now would be to swing trade 100 share lots of sector based SPDRs or QQQ. Any recommendations are welcome.

I do have a fair about of experience trading currencies...with success. I would like to branch out to other markets slowly.

STAQ
 
Hello Staq,

They are ETF's (Exchange Traded Funds) not EFT's. I started out trading SPY (I now trade ES). as far as what to trade, I guess it depends on your goals. If you want to daytrade then SPY or QQQ might be a good start. Especially if you want to eventually switch to there derivatives (ES And NQ).

Good Luck
 
I think the SPY would be too much $$ for my account size that I just opened at IB. Correct me if I'm wrong, if I bought SPY 100 shares at 108.30 (todays price) you would need with approx 5400+ using margin. I opened the account with 5k
 
Quote from staq:

I think the SPY would be too much $$ for my account size that I just opened at IB. Correct me if I'm wrong, if I bought SPY 100 shares at 108.30 (todays price) you would need with approx 5400+ using margin. I opened the account with 5k
More...

There is no easy way to get it down. You're gonna lose $$ no matter what, PERIOD. :-/
 
What about the PDT rules when trading ETFs? I can't find anything in regards to this issue. I assume that they fit under the stock PDT rules?

Are there any futures contracts that would fit the bill as far as working with a smaller account. I'm aware of the NQ and ES but even the mini's seem too big, at least to start out.


thanks
STAQ
 
Quote from staq:

What about the PDT rules when trading ETFs? I can't find anything in regards to this issue. I assume that they fit under the stock PDT rules?
More...

Got that right... Wall Street does not want the little guy getting
into the aciton... They are big fat greedy pigs... :eek:
 
Quote from staq:

Are EFTs immune to the daytrader rules?

Can someone give me advice as to which EFTs/futures are good to swing/daytrade trade with a small account($5000).

My thinking right now would be to swing trade 100 share lots of sector based SPDRs or QQQ. Any recommendations are welcome.

I do have a fair about of experience trading currencies...with success. I would like to branch out to other markets slowly.

STAQ
More...

try the SMH. it is one of the lowest priced etf and it is volitile so you can try to swingtrade the moves.
 
You must log in or register to reply here.
Back
Top