Hi, can anyone tell me the best way to get started using this system with a $2000 account? Or is that amount to small to trade with?
Thanks in advance,
Posted Feb 23, 16 2:34 PMbymrcfunds
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Hi, can anyone tell me the best way to get started using this system with a $2000 account? Or is that amount to small to trade with?
Thanks in advance,
ok but how much money do you need to start with etrade, and to be able to short stocks? and does suretrader have patter day trading rule, how do you go around that?
If you want to short stocks, you need a margin account. Most brokers require 2k to open a margin account. However 2k is the absolute minimum. To be realistic you need 10k to trade but you could get away with 5k. Anything less and you'll likely lose everything to commissions and mistakes. It's better to study first, save up the money, and then trade later.
If you're American and want to get around the PDT rule, the most common methods are: 1) Hold equity stocks at least 1 day overnight (see Tim's videos) 2)Open an account overseas (which I do not recommend) 3) Save up the money and meet the PDT requirement or 4) Day trade futures.
Thank you all for your comments....I am trying to figure out where and how to start the Tim Sykes system without purchasing hundreds of dollars in products….. before I know whether or not I can do Tim's system… been there done that...so, should I follow the posted watch list? but there are so many to choose from! Any recommendation?...I am a semi-advanced trader...but new to Tim’s system but I am very interested in learning to trade this system...all help and direction is greatly appreciated...
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