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Have you heard about a broker that gives you 4 times what you have available, to trade? Some one told me that long time ago. I just don't remember which one is. Do you???
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That might sound like a good thing but I would never go for it. First of all, you'd be paying interest on that "extra" money, and second of all - what if you lose money that's not even yours? You know you have to pay it back, and pay it back fast..
Personaly, I never even used margin account, cash all the way.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
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I know it sound horrible for long trades, but I you have at least 25K and use it to day trade several times a day, you'll make tons of money in just one day. Think about it. But I still searching on which one is.
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You CAN make "tons of money" but you can also lose it. The fact is that over 75% of day traders lose money.
No wonder people say that you shouldn't put more money into a penny stock than you can afford to lose. When you lose your own money it's one thing, but if its not yours..then it's bad.
If you have $10,000 with this type of account you're talking about you'd have $40,000 to play with. Well, there's a reason why you're not playing with $40K - you don't have it, so play with cash, don't borrow money for pennys.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
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