How safe is our money?

Oops, I wasn't remembering this is not a PDT thread. Anyhow, I have only such small trading capital. That's why I'd make sure it is not risked. I take care of trading risks. And regulators and brokers please be helpful on minimizing other risks.

Quote from qdz:



Right, they are criminals. Isn't the purpose of our laws to protect public from these criminals?

By the way, let me reiterate that my concern is not brokers going out of business in which case SIPC protects me hopefully. But what about these criminals sitting inside and outside of the firms. When my money is gone, who protects me? Of course not the PDT rules.

:p
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qdz,

Retail brokers are ok with your money, prop. firms need a little more due diligence if your capital is at risk. Your system may be good for daytrading but a good trader can trade any market with a little practice within the boundaries of performance. Revise your parameters for short term trades to rebuild your account back to daytrade amount. Many have had to do this before and it may take a few months but it will happen. Check out Chartman on thestreet.com and alan farleys hardrightegde.com, keep lot size small so you can have big stops and the trades have room to breathe. Best of luck.
 
Thanks very much. That's a good suggestion to everybody.

But stokhack, how about theft risk? At least the brokerage firms should be willing to take responsibility and enhance security to comfort us. :) Thank you.

:p


Quote from stokhack:

qdz,

Retail brokers are ok with your money, prop. firms need a little more due diligence if your capital is at risk. Your system may be good for daytrading but a good trader can trade any market with a little practice within the boundaries of performance. Revise your parameters for short term trades to rebuild your account back to daytrade amount. Many have had to do this before and it may take a few months but it will happen. Check out Chartman on thestreet.com and alan farleys hardrightegde.com, keep lot size small so you can have big stops and the trades have room to breathe. Best of luck.
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One easy thing to do is to use strong passwords. I'm sure that very few (if any) of us here at Elite use Sex or Password as passwords to our trading accounts. But, you should use even stronger passwords that conform to the following rules:

1. At least one upper case and one lower case character
2. At least 8 characters long
3. At least one alpha and one numeric character

That would be the minimum that you should do. All my "important" passwords are at least 12 characters long and do not contain words.
 
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