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Margin
- Thread starter jarmin75
- Start date
Quote from jarmin75:
What type of margin both intraday and overnight is typical for a direct access firm? Do you need a Series 7 for it?
"Direct Access" in most cases only means a retail brokerage that has orders routed to ECN's etc. (after routing to the broker itself of course to verify funds).... so standard 2 to one or 4 to one for Pattern Day trader would apply.
With a license, our traders can use a $million or more with the same $25K, and we go about 30 to one overnight (hedged).... most don't get near that much however.
All the best,
Don
Quote from jarmin75:
Thanks Don, I'll be coming your way when I am ready to make my move. Does one need to wait for the three day trading seminar to get started?
Nope, just follow these steps, take the next class if you like, we do classes 4 times per year.
www.stocktrading.com/steps.html
Don