How much do you need to be able to day trade/swing trade full time? $100,000? $200,000+?
How much do you need to be able to day trade/swing trade full time? $100,000?...
You should start out small.
Obviously the more to play with the better. But if you do your DD and have good luck, 10k seems like you could make a few hundred per day at least.
I started part time with 4-5k. That would bring me and extra $1-$300 a week. Now I have 25k making about $6-$1000 a week.
I sustained myself on a $3,000 account swing trading when I first started. Granted, I was living in Taiwan, which has a lower cost of living, at the time.
For day trading, you need at least $25,000 to legally day trade.
Your personal style will determine how much you need to make a living.
What programs do you use that they let you buy/sell immediately? I usually have to wait 3 business days
On this board you'll hear everything from $100,000 to $100.
Then the insults will start.
Why would anyone lie on an anonymous message board? What is there to gain?
It is not lying, it is people that never traded or worked a day in their lives telling others how they think it should be done.
But the reality is the more you invest the more you gain, if you start small you gain small, but could still make it out.
It's easyer with loads of money tho
The bar is set intentionally high for trading, financially, that is.
The less you have, the greater percentage is eaten by fees, losses, and commissions. Whereas having a large capital pile will render those things inconsequential. Add in the SEC's $25K rule for day trading and you start to get the picture.
It's probably because the industry wants the people who lose money to be well off enough that they don't wind up broke/complaining about refunds.
You are why paper trading and indexing exist.
That the bar keeps many out?
That the less you have, the more is eaten by costs?
That the SEC has a $25K rule?
Or the last sentence, which is a speculation?
Anything besides Robinhood is going to have a fee but it's worth it if you're trading higher numbers where $7 or whatever is not an issue.
You can try out Ustocktrade app which is similar to Robinhood but has $1 monthly fee and $1 per trade. Pretty sure it's instant transfers and you can day trade
Any tips? What broker/program do you trade with?
day trade/swing trade
lmao peasant faggot shitter bitch retard
I usually have to wait 3 business days
Not positive, but I'm pretty sure you're required to have a margin account to duck the three day settlement rule (and even then, you're not really ducking it, you just have lots of room to run).
The required deposits for them vary from broker to broker, but it will be higher than a standard account.
what do they care if you pattern trade with your own cash?
No margin means no one else is on the hook for your stupidity.
in a stable economy, at least 300,000 in order to try for a mean of 30,000 to live off of every year minus broker and trader. this is so long as your choices are absolutely random
fidelity is ok, they arent that fast but their rates are better than wells fargo
that feel when most of my accounts tied up hostage in wellsfargo accounts