Is this illegal?
If that's true, he would need to make sure that you are an accredited investor. That is, satisfying the following:
"a natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase;
a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year; or
a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes."
If you don't satisfy that he would need to jump through some real hoops to be able to collect that incentive fee and not run afoul of the rules. Given these issues, I recommend that you spend some time talking to him as well as talking to an investment pro before you invest.
Good luck.
Briefly the new rules stipulate that brokers must have a minimum capitalization of $5m plus a percentage to cover client funds.
If your broker meets these two requirements the next question is whether your broker is an ECN or FCM dealing broker – ie will his dealing desk be playing against you? This will matter if you want to include scalping as part of your trading strategy.
This is just the beginning of your quest to find a broker which best suits you and the resource list below should help you find the answers you will need.
Good luck.
bob, with you answer it would mean that you would have to watch all markets and components, from the first day the market or component was created or offered. In other words it's not possible; the answer is unrealistic just like your mom.
Example: Imagine wheat made a new 4 week high yesterday. That's a breakout signal, so you bought. If it makes a new high today, who cares? You can't enter; you are already long wheat. You need to be looking for an exit point.
If you didn't go long on yesterday's new 4 week high, you're not following the system.
In Intraday you have to sell the shares on the same day u buy them.Intraday market close at 3:00 in afternoon if u sell the shares before the market closes it fine otherwise they automatically sell them on the last trade price.If u r going in lose than what I suggest u that there is an option to transfer ur share frm Intraday to Market in that select market & then u can keep ur shares as long as u want.It dosent matter that u r buying through Icicidirect or sharekhan or Indiabulls the market rule remains same for all.Trust me I m also a invester & mainly invest in Intraday.Hope this help u.
It seems to be any five business days.
Ive been doing really well with "day trading" SKF. I short it and buy at certain times. I cover my own rear with different trades and lock in a gauranteed return. my thing is I dont want to be labeled a day trader because I dont have the $25,000 to fork over.
ok I havent been buying and selling in the same day, I buy one day and sell the next. is that a day trader or a pattern trader?
A day trader buys and sells a security in a given day, so they have no open positions at the close of business.
A pattern trader is any margin customer that day trades (buys then sells or sells short then buys the same security on the same day) four or more times in five business days, provided the number of day trades are more than six percent of the customer’s total trading activity for that same five-day period.
As a pattern trader, you must carry a minimum equity of $25,000 at all times
B. All futures contracts are eligible for margin trading.
C. Trading is halted for the day if the prices reach the daily limit.
D. The uptick rule applies to the shorting of futures contracts.
Here are a few of my basics though:
- One trade at a time
- 100% liquid at the close
- Trade volatile stocks only, concentrate on a handfull each day.
- Don't trade in the first and last quarter hour of the day.
- Stops are sacred: you hit a stop, you take it.
- When during the day you've made a predetermined amout of money, take the rest of the day off.
- When during the day you've lost a predetermined amout of money, take the rest of the day off.
- Trade electronic not via a market maker
- Review your trades regularly.
And the most important one:
Discipline! Stick to your rules.
before you do it, learn how to trade in the right way, and how to read market pulse or read indicators. market by itself is living pulses, if you can take the pulse you are wll on your way of financial freedom.
Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.
http://www.pathtoinvesting.org/index_fla…
http://www.stockcharts.com
http://www.streettalklive.com>… university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:
fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy
technical analysis==(chart+indicator)>> when to buy
Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live
At the age of 32. my 401k is amassed 71,000.00 and 30000.00 in taxble account. by follow simple rule
We loved the layout and easy reading from the simulator we used….www.top10traders.com
Has anyone ever used etrade.com?? I need to be home and want to pay as little commission as possible, if that is possible.
Can anyone direct us?
Thanks….
are all good.If you are daytrading remember you need at least 25,000 minimum in your account to not get hit by the daytrading rules.
http://stockstoshop.mywowbb.com