posted
Guys, after jumping into CNES at 0.002 with $2,000 I have learned my lesson about trading.
Its kinda like sex, get in, enjoy the ride, but make sure you pull out in time. That is the way I am looking at trading right now. Get in and get out before its too late. I have decided to do Day and Swing trading. No more of this holding long crap. Thats it, kappuuuttt.
Right now, I have $1,000 invested in EMA at 0.55 cents, its below 20 on the stochs. If it follows the trend, then I should make myself about $300 + in the next few days....
Anybody have any experiences that they can share about day trading or swing trading.
I talked to TD waterhouse on Friday, and asked them about the settling of funds and that crap about not being allowed to day trade as with some companies unless you have a minimum amount of money in your account. They told me that with TD waterhouse you can day trade all you want with as little money as you want, just that if you want to cash out, you have to wait for the funds to settle. I love that.
Peace all!
Sorry, got a few beers in me right now, heheh.
Alek2
posted
Good luck to all of my fellow traders come tomorrow, Monday morning.
Danny K
posted
explain that "you can daytrade as much as you want with as little money as u want" sentence for me. SEC has the 3 in 5 law, how do u get around that.
Alek2
posted
Dunno, spoke with the help at TD Waterhouse, and they said that If I buy a trade this morning, I can sell it right away if I want, and then the next day, I can do the same thing.
Good enough for me. I guess the 3/5 law means that you can't do it more than once per day?
And you don't need to have a minimum in your account if you want to day trade with TD Waterhouse.
Max Shrap
posted
They said you have to "wait for the funds to settle." That takes about 5 business days.
Alek2
posted
no Max Shrap, they said that I can do as many trades as I want, I don't have to wait for the funds to settle, but if I decide to want to cash out and take my money out in "cash" then I would have to wait for the funds to settle before I could do this, and with TD WHS, its 3 days.
But I pay like 30 bucks per trade, while most of you pay 7 bucks...
Max Shrap
posted
Is it a margin account? Day trading is dangerous. It's like gambling with a credit card when they give you a margin account and I think that there is a rule that day traders need to do it with a margin account. So if you screw up and pick a bad stock, you are using their money and paying interest and other fees on their money.
Machiavelli
posted
You don't sound very much experienced and are playing with fire if you are daytrading on a whim... stick to swing or position trading.. your bankroll will thank you...
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