Money needed for swing trading

[cashmoney69]

All the books and everyone talks about how much you need for day trading which is 25-50,000

but how much would a trader need to swing trade? 5..10k?

of course if he/she wanted the brokers "active trader" package, they would need to put down 25k at least, but can swing trading be done with less than that, and with out streaming data?

- nate

 

[Free Thinker]

Quote from cashmoney69:

All the books and everyone talks about how much you need for day trading which is 25-50,000

but how much would a trader need to swing trade? 5..10k?

of course if he/she wanted the brokers "active trader" package, they would need to put down 25k at least, but can swing trading be done with less than that, and with out streaming data?

- nate

sure. some places will let you open an account for 2000.

 

[coolweb]

cashmoney69,

personally

I would not start swing trading

first daytrade

join a prop firm , you can learn lots there

swing trading will take too long to learn all the mistakes required


You should have at least $30k for swing trading mininum if you don't want to be killed by commissions.

 

[cashmoney69]

coolweb

What is a good prop firm IYO (in your opinion)

and would you recommend using nothing more than a level 2 and time and sales screen like some people on ET (nitro).?

also, what can you tell me about totalview? its supposed to be better than level 2, but I have not used it, maybe you have.

- nathan

 

[coolweb]

What is a good prop firm IYO (in your opinion)


-> Jersey City, New Jersey Holds brother , where Steve Tvardek works lol


and would you recommend using nothing more than a level 2 and time and sales screen like some people on ET (nitro).?

-> I flip open the time and sales sometimes to watch for "flow" and large orders, But I just stare at the volume most of the times on a tick chart.

also, what can you tell me about totalview? its supposed to be better than level 2, but I have not used it, maybe you have.

-> Its just gives you a better view of the liquidity, If you aren't trading 1000 shares or more you probably don't need it

I just look at how the speciliast adjusts the CURRENT bid/ask for immediate direction ideas at important areas.

Some areas, the specialist needs to jump prices quick, he's not going to lower current bids if long. If it doesnt' jump, or if he lowers, WATCH out!


Thats good enough for me.

 

[sirpangolin]

I would not trade, let alone swing trade, without enough to get past the PDT rule... (25K)

For example, my broker, Tradestation, requires a 5K minimum, so that's 30K minimum for a PDT account right there. I'd add another 5K for padding when you lose, and that brings you to 35K that you need minimum to trade.

 

[trader_rachel]

50k is more like it, if you want to increase your chances of success

 

[JMowery1987]

Quote from cashmoney69:

All the books and everyone talks about how much you need for day trading which is 25-50,000

but how much would a trader need to swing trade? 5..10k?

of course if he/she wanted the brokers "active trader" package, they would need to put down 25k at least, but can swing trading be done with less than that, and with out streaming data?

- nate

Can it be done? Of course, but again, anything is possible, the question is: WILL YOU DO IT?

I'd say you'd want 10k at least for swing trading. There is a journal on here of a person who started with 3k and is swing trading. I believe it has been awhile and he is at around 3,300 in his account *I think*. you might want to go check his journal out for ideas.

It is possible, just have a good system and follow it.

 

[Chagi]

Quote from JMowery1987:

Can it be done? Of course, but again, anything is possible, the question is: WILL YOU DO IT?

I'd say you'd want 10k at least for swing trading. There is a journal on here of a person who started with 3k and is swing trading. I believe it has been awhile and he is at around 3,300 in his account *I think*. you might want to go check his journal out for ideas.

It is possible, just have a good system and follow it.

I think that 10K is a pretty good target, though you can frankly start trading with a couple of thousand bucks - only commissions will drive you nuts hehe.

 

[cashmoney69]

i'm trading with under 1,000 lol, and commissions are driving me crazy cuz i cant buy in big enough lots to offset commissions to make a profit.

- nate