@Tunde1306 Tim has went all in some many times to grow his small account in the beginning it is ridiculous. He was mostly

Talking to the bag holders when he made that reply. But of course I would not do that with a 50k account but it's ok when you have 2-5k account.

My plan was to use 5k all in for 3 months and tuck all the profits away. Then move up to 10k for 3 months and repeat every 3 months up to 20k

Great plan.

I don't think MEMP spiked in reaction to earnings, they reported almost two months ago and earnings weren't good at all lol. Correct me if i'm wrong.

It wasn't like the analyst report was positive or anything either.

Check with your broker but I have never been charged interest even when I was using margin for a few minutes on some trades.

This is incorrect. I've used leverage before and they charge you interest daily but apply it at the end of the month like a credit card.

My thesis would be that it has been up-trending 3 days in a row and it is the holidays so newbie traders will buy which could push the stock up.

i think potential short

Whatever you do just make sure you have a plan in your head and follow price action.

It broke out to new highs towards the end of the day. I think it's going to keep going.

Almost every broker has the 2.50 rule. I would NOT recommend using margin EVER when trading, sure trade your 2000 but don't let your losers run you into bankruptcy. You could short 500 share of the imaginary "$4 stock"

I wasn't planning on using margin I was just making sure I didn't have to have 25% of my account in cash all the time because with a smaller account I want to be able to go big when I encounter the best setups.

Thank you

Check out Tim Grittani's take on the 2.50 rule http://tradetheticker.blogspot.com/2014/02/question-what-is-250-rule.html

A Buy and A Sale, or Rountrip counts as One Day Trade. But consider, If you Buy 500 Shares, and then Add 500 more, Then Sell, this counts as Two Trades.

@RussianBear SureTrader doesnt have Custodial accounts because im only 17

Roundtrip trade - Buy N00 shares XYZ and Sell N00 shares XYZ the same trading day.

But the most important thing is to know about the 5 CONSECUTIVE days, because U must count them. For example: U make 3 roundtrip trades on TUE, you count 5 business days which is (WED,THU,FRI,MON,TUE) and you can make your next trade next WED.