Say you have $10,000 and they give you $10,000 then you have $20,000 to buy with, if you drop below a certain amount (say $18,000) they'll sell a few shares to cover themselves as the loss comes from your $10,000. You'd be at $8,000. But you can make twice as much on a positive trade.
Remember only 3 DAY-TRADES in a rolling 5 day period.
3 in and outs. You can close a trade from yesterday today, then book it tomorrow and that would be no day-trades. You can only go in and out of the same trade on the same day 3 times in a 5 day period. Always save one in case you MUST get out of something due to a market turnaround or what-not. If you do 4, you'll get a 90 day restriction of no day-trades.
10 comments:
Added UYG 16.95
Gotta hedge my SKF's!
"Please note: Margin trading increases the risk of loss and includes the possibility of a forced sale if account equity drops below required levels."
Are they just talking about my overall account balance, or my total stock buying power (Funds not currently invested)?
And so you recommend buying SKF at these levels huh?
Nice, my low is $17.05 right now. Sitting on $6.84 & $7.13 EGO's
I missed a big chunk yesterday afternoon so happy Gold didn't pullback.
I would think GDX is a monster play from here.
Say you have $10,000 and they give you $10,000 then you have $20,000 to buy with, if you drop below a certain amount (say $18,000) they'll sell a few shares to cover themselves as the loss comes from your $10,000. You'd be at $8,000. But you can make twice as much on a positive trade.
Remember only 3 DAY-TRADES in a rolling 5 day period.
I can only day trade three times in 5 days?
Booked UYG @ 17.25
Playing these quick!
3 in and outs. You can close a trade from yesterday today, then book it tomorrow and that would be no day-trades. You can only go in and out of the same trade on the same day 3 times in a 5 day period. Always save one in case you MUST get out of something due to a market turnaround or what-not. If you do 4, you'll get a 90 day restriction of no day-trades.
Also, TD Ameritrade will tell you how many you've done at all times on screen.
Aw that's crap. I already used two yesterday just playing small time with skf... oh well. Guess I'll wait until monday and start over.
Thanks again Joe, I really appreciate this!
You can buy into something, just gotta hold a bit. And don't worry about using the margin, it's a much needed tool to get your account moving up.
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