edgarking1 asked:
I live in manila and I trade for swifttrade here. I would like to start my own day trading here at home. I want to start small. How can I start my day trading with a minimum account of $300.is it possible? and is it also possible to prop trade with a micro account? can anyone give me steps on how to do it?
I live in manila and I trade for swifttrade here. I would like to start my own day trading here at home. I want to start small. How can I start my day trading with a minimum account of $300.is it possible? and is it also possible to prop trade with a micro account? can anyone give me steps on how to do it?
Sphere: Related ContentI live in manila and I trade for swifttrade here. I would like to start my own day trading here at home. I want to start small. How can I start my day trading with a minimum account of $300.is it possible? and is it also possible to prop trade with a micro account? can anyone give me steps on how to do it?
I live in manila and I trade for swifttrade here. I would like to start my own day trading here at home. I want to start small. How can I start my day trading with a minimum account of $300.is it possible? and is it also possible to prop trade with a micro account? can anyone give me steps on how to do it?
Can anyone give also the step by step process in opening an account .. for prop trading.. with a micro account?
Ferrari
Tags: Day Trading, Nasdaq, Swifttrade
January 2nd, 2009 at 8:15 pm
Good idea! The stock market is so stable right now. The Nasdaq, Dow, and S&P 500 just keep on going up. If you have to ask how to do this, then you shouldn’t be doing it. I am sure Madoff has a portfolio for you.
January 3rd, 2009 at 4:09 am
can’t do it.
if you’re using less than 25k, you’ll get killed when you get labeled as a pattern day trader. never mind that the transactions costs would eat you alive.
January 4th, 2009 at 10:06 pm
$300 dollars isn’t much. I can’t guarantee this, but here goes:
You’re going to have to start with pennystocks and if you make it to maybe a four figure amount switch to a blue chip stcok. Then diversify when you get it to five figures.
You’ll have to put everything on one stock for now otherwise you’ll pay too much in brokerage.
Try putting it all on Gastar Oil Exploration (AMEX:GST)
It’s about 65c/share. If it goes below 30c, walk away.
When you can afford it, get the following software:
January 7th, 2009 at 9:50 am
You can become a successful day trader. Don’t believe people who tell you it is not possible. This is simply not true. That does NOT mean day trading is for most people. Most people don’t have the emotional control and discipline to be successful day traders. They usually don’t like to hear that either, so they simply tell everyone that day trading does not work. Because someone cannot successfully do something does not mean others cannot do it.
You will need to have at least 25,000 as the minimum to “participate”, but it is better to have 50,000 to start as a beginner, to buffer initial setbacks while “learning on the job”. You can use practice sites, but believe me - as you will discover later if you day trade, you cannot duplicate having “your own money on the line” in a practice class.
You have no business day trading until you learn a lot about trading in general, and day trading online in particular. If you have a large account with a reputable broker, you’ll receive sophisticated trading software for no charge for handling your account there. If you don’t, the transaction charges are steep enough that it will make it far more difficult for you to succeed.
The most important thing in day trading is cutting any losses immediately. Without discipline in this area, you CANNOT make money day trading. Once you have read and practiced extensively, I would recommend trading an index with both a positive and inverse position available. In this manner you can learn about the market, and trade both sides of the market when it is rising or falling. For day trading it is imperative to pay attention to position size, and minimize risk by entering trades at/near the bottom of the support level. This requires thoroughly understanding technical analysis and chart patterns. Read anything you can get your hands on by O’Neill, Schwager and Van Tharp, and that will get you started.
The best investment you could make would be to attend a week of beginner’s trading at the Online Trading Academy. It is worth the price, because without training, you’ll be lost and will lose far more money than the value of the training. This type of trading appears very complex to most people, but to the few who take the time to TRULY understand it, it can generate a lot of high returns. Like anything else, you need to know what you’re doing, and you need to have a plan and a system that you adhere to - part of the successful short term trader’s discipline. And you’ll likely “pay your dues” for a while before key elements sink in.
January 7th, 2009 at 11:28 am
you can start, fresh, right off the bat by investing in this software that is completely automated, meaning the only thing you have to do is confirm the program’s decisions, its probably the best investment, because when you invest in this, you can also get step by step and tutorials on how to day trade, AND how to use the automated method.
January 9th, 2009 at 5:30 am
Yes to start with $300 is very possible. I day trade penny stocks for a living and only started with $80 and now make a living doing so.
First the day trading friendly online broker who is also cheap, only $4.50 a trade is Zecco.com open an account with them so there is no minimums and you can buy any stock on the market, even penny stocks.
Next, visit my site below, I have developed the first commercially available stock trading robot that finds penny stocks poised to gain in the next few days.
I just had a guy turn his $200 into over $8,500.
I have even posted a live video at the top of my site as proof of me making $6,080 in 24 hours with just one of my robot’s picks.
Every Sunday I email my newsletter subscribers my stock robot’s recommendations for the next week. In fact, if you had been a member of my newsletter and followed the last 9 of the robot’s picks you could have turned $217 into over $9 million!
I know it is hard to believe but it’s a fact, there’s proof on my site.
I just released my robot software to the publilc on Tuesday, so just for a limited time I am allowing people to try him and his picks out for 8 weeks without risk or cost. Which is a deal, because I license him out to hedge fund firms and wall street traders for $112,000 for a one year license.
However, I have only had 12 people buy the license so I would like to increase publicity and prove this robot does what I say he does and make the returns I say so I am allowing people to try him out for free for 8 weeks in hope to prove this.
So head on over to my web site at:
And Good Luck. Thank you for your time, I hope to have helped you out.