Trader turns $1,500 into a million

Quote from tradingjournals:

Did you find the story by searching for a stock that caused you a loss?

Dollars don't fade away, they just move from one account to another.
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TJ, I'm trying to get CNN to do a story on your latest journal but we are waiting on your mom for permission.
 
Correct me if I am missing something, but.... How do you turn $1500 into a million day trading penny stocks when you can't meet the $25k minimum SEC day trading margin requirement?? Does that law not apply to the OTC markets? I thought it applied to ALL equities and equity derivatives...
 
Quote from IAS_LLC:

Correct me if I am missing something, but.... How do you turn $1500 into a million day trading penny stocks when you can't meet the $25k minimum SEC day trading margin requirement?? Does that law not apply to the OTC markets? I thought it applied to ALL equities and equity derivatives...
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Well, Timmy pushes a broker called Suretrader based in the Bahamas that gets around the PDT rule. There is no PDT rule there as it's not US based but I think the account minimum is 2k. So there's that....

Edit: $500 account minimum for a margin account.
 
Quote from IAS_LLC:

Correct me if I am missing something, but.... How do you turn $1500 into a million day trading penny stocks when you can't meet the $25k minimum SEC day trading margin requirement?? Does that law not apply to the OTC markets? I thought it applied to ALL equities and equity derivatives...
More...


While the account is under $25,000 just keep it to three day trades every 5 business days. That should be easy.
 
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