Received 2 Karmas
DevastatorX
1
DevastatorX Feb 27, 17 7:09 PM

I am starting with a small account, between 3K and 5K, and my strategy just starting out is to go for 1 to 3 trades a week, so I think I am going to go with a margin account, because I would rather have the funds available when I see the opportunity than have to wait days for them to clear and hope for another opportunity. This might change as my account size grows, and I might change to a cash account in the future.

Fox_Trader
2
Fox_Trader Feb 27, 17 8:47 PM

Everyone is different and each person has there own special niche type style for trading. All of my accounts are Margin. Got sick of waiting for funds to settle with cash accounts. Having more accounts will give ya more Day trades, the majority of the time I'm not depleting my Day trades. My largest wins percentage is only 6 percent of my trades. I'll make more by focusing in on larger moving plays. Try it.

DevastatorX
DevastatorX Feb 28, 17 1:21 AM

You could also think of it like this- with a cash account your weekly purchasing power is 6K at most, as I believe it takes 3 days for funds to clear... with a margin account it's 9K, if you were to make 3 trades with 3K. So there is more potential for exponential growth, if you pick the right plays. And I like the idea of multiple brokers, I believe that's what Tim G did when he was just starting out.

itsamiracl3
itsamiracl3 Feb 28, 17 9:23 AM

@DevastatorX Ya I understand what you mean - I'm not really a fan of trading with the brokers money at this point tho. Only reason I'd consider margin is simply for the shorting ability...

Join now or log in to leave a comment
Received 4 Karmas
huperauxano
huperauxano Feb 26, 17 3:02 PM

Put in a LIMIT order not a MARKET order - where you can specify exact number instead of letting brokerage houses screw you on the spread. Welcome to the party!

JWStocktrading
JWStocktrading Feb 26, 17 7:33 PM

Great video! So funny hearing your story. I've got caught up the same ways lol. Don't do market orders. LIMITs ONLY

Deep
1
Deep Feb 26, 17 9:08 PM

good luck man you got yourself a new follower :)

Join now or log in to leave a comment
Page
of 1