OFFICIAL STOCK MARKET & ECONOMY THREAD VOL. SCHOOL'S OUT

[lilchico4life]

Originally Posted by Jonbx5

^

how much do u need to do day trading?

Yeah you need minimum $25K to start day trading, but if your account falls below that on your first few trades you can forget about trading for the next 90days.

 

[jordan23collecta]

LiLcHiCo4LiFe wrote:

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Jonbx5 wrote:

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^

how much do u need to do day trading?



Yeah you need minimum $25K to start day trading, but if your account falls below that on your first few trades you can forget about trading for the next 90 days.
just for some of the people in this thread that dont know what a day trade is, and the requirements needed to be one (this is copied from myscottrade account in the Q&A section):



Q. http://What is a Day Trade?

A. A day trade is the purchasing and selling or the selling and purchasing of the same security on the same day (including pre and post market) in a margin account except for:
a. A long security position held overnight and sold the next day prior to any new purchase of the same security, or


b. A short security position held overnight and purchased the next day prior to any new sale of the same security.




Q. http://Will Pattern Day Traders be required to have a margin account?

A. Yes, all Pattern Day Traders must have a margin account and will be required to maintain $25,000 equity in order to continue Pattern Day Trading.


Q. http://What are the consequences if I have a margin account and I day trade four times in five rolling business days?

A. Your account will be designated as a Pattern Day Trading account, and you will be required to maintain $25,000 equity at all times in order to continue day trading.


Q. http://What are the consequences if I am a Pattern Day Trader and execute a day trade with under $25,000 equity?

A. When you execute a day trade with under $25,000 equity your account will lose margin privileges and you will be restricted to closing transactions only until one or more of the following occurs

1. All margin debits are satisfied
2. Your equity is brought up/increases to $25,000
3. 90 days pass without any day trade transactions.

If all margin debts are satisfied, you may resume trading in a cash account.


-J23C

 

[throwedindagame]

Any of yall expect to see XLF, FAS, and GS make runs today based on GS news and impending news of other Bank earnings later this week?

BTW AIG is crazy.

 

[lazyj10]

Took a day, but GS broke 150, meanwhile, the rest of the market is kinda floating around.

 

[ieternalv]

looks like it's going to be a boring day.

 

[andycrazn]

Originally Posted by iEternalv

looks like it's going to be a boring day.

yea im still mad at what happen yesturday. i was going to buy 500 shares of NG. but i was so tired that i couldnt even focus on the market. i keptdropping my mouse cause i was so tired. 500 potential profit gone.........

 

[ieternalv]

Originally Posted by andycrazn

Originally Posted by iEternalv

looks like it's going to be a boring day.

yea im still mad at what happen yesturday. i was going to buy 500 shares of NG. but i was so tired that i couldnt even focus on the market. i kept dropping my mouse cause i was so tired. 500 potential profit gone.........

i'm glad i didnt wake up early yesterday and play FAZ. i could've been down like 3gs or so. this economy is messing with my head, i know it's inthe ****ter, but i dont know how to play it stock-wise.

 

[desent]

so i have to have 25 g's in the scottrade account to be able to day trade meaning buying and selling on the same day as opposed to what other option?i'm guessing buying/selling 1 day then having to wait a grace period like a day or so?

 

[shch]

sigh..................................................no plays today.

 

[lazyj10]

I wouldn't even do it that quick, I would just be picky in your plays.

GOOG will probably do some good work by Thurs.

 

[ieternalv]

http://www.nasd100.com/2009/07/potential-upside-ranking-of-1700-smallcap-stocks.html

just wanted to share this with y'all, use at your own risk.

bio/pharm =

IMO.

 

[nicefro]

in AN @ 17.60

 

[andycrazn]

going into NG or PG soon. trying to get in on a dip

 

[sp raised]

ADY check it out

 

[lilchico4life]

Some very nice plays posted. I'll definitely check these out...

 

[lazyj10]

Market is on an uptick....what's volume like?

 

[andycrazn]

i finally got my laptop configured to be able to use in class and i think thats the worst thing thats ever happened to me. not only am i not focusing in classi followed the crowd today........ oh wells. dlm is doing good today

 

[lazyj10]

I never went the laptop in class route, though, when I got a SK2 back in the day....man, paying attention got difficult.

 

[Sam Darnold Heisman #8]

the reverse split of fas and faz has been a nice blessing. been shorting faz since monday.

 

[651akathepaul]

BAC up around +.50 today.

Anyone have any insight or good articles about what's expected from bank stocks or more importantly to me...Bank of America?

 

[wstcoastgotti]

FAS today holla

 

[dj aaaye]

LiLcHiCo4LiFe wrote:

Yeah you need minimum $25K to start day trading, but if your account falls below that on your first few trades you can forget about trading for the next 90 days.

. I didn't know 25k is needed in order to start daytrading. I was going to day trade with my summer job money. Anyways, I'm reading books and you-tubing to learn more about the stock-market. Can you guyrecommend me some good books? For ex. Books for dummies. I want to use a year just to educate myself before i jump in.

 

[lazyj10]

FED spreading recovery rumors to fuel this rally.

 

[bijald0331]

^such a load of bull. how can the unemployment rate go up as the gdp rises?

 

[shch]

It's all lies..................