The thing is if you are trying to day-trade with $2,500, the commissions are going to eat up your entire investment. It will probably cost you $25 to buy and sell. The less money you put in, the higher your break-even point becomes. I never put less than $3,000 into a single stock or you just can't make any money off of it.
You also picked a terrible time to start trading my friend. Wait until the recession is over. Things are going to drop at least another 15% in the coming weeks. Your "day trading" will become "month trading" while you sit and wait for your stocks to come out of their loss positions.
In order to simply open an account… with scottrade your $1000 is plenty.
During the day I would have $20,000 in equity and $10,000 in said stock. By end of day I would be back to $30,000 plus any gain/loss I incurred on trade.
I'm trying to understand the intent of the rule, as I would like to start a day trading account with $25,000 to $30,000 in it.
You can buy $30000 in stock or $60000 in stock on margin ($120000 if cleared in advance by the brokerage house management and reduced to $60000 by the end of the day) None of these actions change your equity. The only way that your equity goes down to $25000 is if you withdraw or lose $5000.
I don't want to sound harsh, but this is for your own good. Daytrading is for experienced traders. If you don't even understand the basic vocabulary of trading, daytrading is an expensive way to learn.
Thank you
1) Build partnership: I spend USD25000 to buy 3% shares of his trading co in winmington,DE,USA.
2) Cooperation: He will give me RMB1 million in 20 days after i pay USD25000 so that I can register a trading co. in Shanghai,China as a platform to operate international trading business developed by both of us.N after I finish registration of SH trading co,he will provide USD5M bank guarantee so that SH co and get financial support fm HSBC,SH.
75days has passed fm the day i paid him,but he didn't pay me RMB1M at all. I asked for returning shares to him and get USD25000 back. But he rejected.
In our agreement,it says"The exclusive forum for any dispute related or in connection with this agreement shall be an ICC Arbitration court. Shanghai shall be the agreed palce of jurisdiction. Can I go to China court for jurisdiction because no ICC in Shanghai?He never ask my passport copy,can he register my shares in US? How to check his co. in US exists or not?Thks
But in my opinions, it's not like a agreement dispute but a trap. That guy is a criminal not a business man. He made the trap and defrauded you of the money.
Be care for in your international business:
my contact: mar06.assistant@yahoo.com.cn
In order to simply open an account… with scottrade your $1000 is plenty.