Trading Journal - June

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TODAYS EXECUTIONS:

15:51:10 MO BOT 5000 48.60
15:13:54 MO SHRT 5000 48.94
13:56:06 EBAY BOT 2000 62.95
13:51:45 MO BOT 5000 49.04
13:47:43 EBAY SHRT 2000 62.57
13:42:19 MO SHRT 5000 49.20
13:41:35 MO SLD 5000 49.25
13:39:44 ORCL SLD 4000 8.57
13:37:33 MO BOT 5000 49.27
12:57:23 MO SLD 5000 48.95
12:46:16 MO BOT 5000 48.65
12:21:48 MO BOT 3000 49.05
11:45:38 MO SHRT 3000 49.50
11:31:50 MO BOT 3000 48.96
11:19:46 MO SHRT 3000 49.55

OPEN POSITIONS:

NONE

CLOSED P&L: $5,940 OPEN P&L: $0
MTD: $46,298 YTD: $249,572
 
Seanote, I would appreciate your opinion regarding how much capital you think is necessary to get started trading?

Thanks, wannabe
 
Originally posted by wannabe
Seanote, I would appreciate your opinion regarding how much capital you think is necessary to get started trading?

Thanks, wannabe
More...

If you want to daytrade you need $30K. The min. is $25K but you need a cushion. If you don't have the capital, learn to swing trade. If you can't move share sizes that enable you to profit at least $200 a trade then you might want to look at long options. Options are more risky but if you have less than $5K you might want explore that option. $10K of BP in a margin account is enough to get you started swing trading lower priced securities, but don't ever exhaust all your BP. Being forced to liquidate due to margin calls is the quickest way to lose your account.
 
You can also try pro firms,like Bright or Echo,which require a series 7.They are not subject to the PDT rule and you get like 10 to 1 margin.Last i heard,Echo's minimum was $10,000,and you can trade from home or their office.
 
Short

Best Buy - BBY had the lowest close since late October and traded on above average volume. Yesterday the stock had a small bounce from the $35.00 level, but as long as it does not close above $37.00 expect lower prices. IMO
 
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