Trading Journal - July

Originally posted by Vinny1
I don't think you need 125k in cash to make good money.There are pro firms out there that give 10 to 1 leverage.You could take $10,000 of your own cash,have access to $100,000,and trade 2500 shares of a $40 stock.If you don't want to go the pro route,then you can trade at a retail firm and get 4 to 1 leverage with a minimum of a $25,000 deposit and still make good money.
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I only make a few trades per day. I was under the impression that prop firms were only interested in traders that traded hundreds of times per day.
 
Originally posted by Seanote


I don't come close to maxing out my BP. I might have as much as 1M in open positions but on average you should have $500K BP (4X) = $125K Cash. I'm fortunate that I have the BP now to take on 10 positions overnight if the opportunity ever presented itself, but rarely does. If you want to trade 2-3K shares while opening 3-4 positions you should have $500K to trade comfortably.
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Seanot, sorry for the rookie question but what do you mean by BP?

Thanks, wannabe
 
I consider the market deeply oversold, the vix certainly indicates this. However...I don't see any capitulation yet. When Jim Cramer is on CNBC telling me to sell, then i will know we hit a bottom. Until then, I will remain a Bear.
 
"...If you want to trade 2-3K shares while opening 3-4 positions you should have $500K to trade comfortably."


Seanote,

The $500K here is cash or buying power? Thanks
 
Originally posted by mschey
I consider the market deeply oversold, the vix certainly indicates this. However...I don't see any capitulation yet. When Jim Cramer is on CNBC telling me to sell, then i will know we hit a bottom. Until then, I will remain a Bear.
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That's a true statement regarding CNBC's remarks. When they finally recommend to sell that is usually the final phase of a bear market and a strong sign that we should pay attention to and begin accumalting again (if your a swing trader or have a longer hold time frame)
 
Originally posted by eltr
"...If you want to trade 2-3K shares while opening 3-4 positions you should have $500K to trade comfortably."


Seanote,

The $500K here is cash or buying power? Thanks
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BP.
 
Originally posted by ANCHOR


I only make a few trades per day. I was under the impression that prop firms were only interested in traders that traded hundreds of times per day.
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I don't think this is true,especially if you are trading at home with a pro firm;you can trade as much or as little as you want.
 
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