aliassmith wrote:Had a fun day!
EURUSD Scalping for about 1.5 hours.
A lot of scalps appears to be 42, all winners.
$3,759 in Commissions
I'll take everyday like this please.
Did you make more than the commissions?
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aliassmith wrote:Had a fun day!
EURUSD Scalping for about 1.5 hours.
A lot of scalps appears to be 42, all winners.
$3,759 in Commissions
I'll take everyday like this please.
IgazI wrote:aliassmith wrote:Had a fun day!
EURUSD Scalping for about 1.5 hours.
A lot of scalps appears to be 42, all winners.
$3,759 in Commissions
I'll take everyday like this please.
Did you make more than the commissions?
aliassmith wrote:IgazI wrote:aliassmith wrote:Had a fun day!
EURUSD Scalping for about 1.5 hours.
A lot of scalps appears to be 42, all winners.
$3,759 in Commissions
I'll take everyday like this please.
Did you make more than the commissions?
10x
IgazI wrote:I've been using the simple 1 + 1 + 2 progression for stock trading, spending 8.25% of BP per unit; that gives me 2 stocks to trade and a 'reserve' space to maintain my position size.
aliassmith wrote:IgazI wrote:I've been using the simple 1 + 1 + 2 progression for stock trading, spending 8.25% of BP per unit; that gives me 2 stocks to trade and a 'reserve' space to maintain my position size.
Is it working out well?
Are you having any implementation issues?
IgazI wrote:aliassmith wrote:IgazI wrote:I've been using the simple 1 + 1 + 2 progression for stock trading, spending 8.25% of BP per unit; that gives me 2 stocks to trade and a 'reserve' space to maintain my position size.
Is it working out well?
Are you having any implementation issues?
I am using a fractional share strategy on Cash App and that severely limits the number of trades that I can take:
According to the rules, as I understand it, I can only place 3 day trades per rolling 5 day period:
- if it has not been 5 days since the last day trade then the day trades continue to accumulate.
- if you accumulate 3 day trades then you have to wait 5 trading days before selling stock.
- a 'day trade' is defined as buying and selling the same stock on the same day.
But holding to the close is not the problem, it is holding until market open that is worrying.
I'm not sure if depositing $25000 solves that problem because 1 I didn't ask and 2 the weekly deposit limits are very low;
is day trading fractional shares even a thing, or are you required to day trade whole shares? I don't know.
I don't trade stocks every week so I have not had any issues trading 30 minute charts.
If you are willing to trade 3 times every other week or stretch most of your trades into the next day then fractional share trading is for you.
Trading fractional shares with no PDT rule is the money shot; I'd just close the trades EOD.
I am going to keep looking for better solutions.
aliassmith wrote:
Pretty much you are running into an issue with the patter day trade rule. These can get around the PDT. #1 is the best straight forward approach. Each has its pros and cons.
#1Have about $30,000 in your account. (Maybe look at Webull or Robinhood for fractions)
#2Trade Options
#3Off shore broker
#4Cash account
#5Or skip stocks and trade futures or forex...
IgazI wrote:aliassmith wrote:
Pretty much you are running into an issue with the patter day trade rule. These can get around the PDT. #1 is the best straight forward approach. Each has its pros and cons.
#1Have about $30,000 in your account. (Maybe look at Webull or Robinhood for fractions)
#2Trade Options
#3Off shore broker
#4Cash account
#5Or skip stocks and trade futures or forex...
Yes, PDT is a dumb rule and should not exist.
I am not looking to simply trade, I am looking to trade stocks and in a specific way.
I did call Charles Schwab today and they informed me that I could not day trade fractional shares even with a 100k dollar cash account it's just not a thing;
and their '30 slice baskets' will count as 30 day trades if you enter and exit same day:
basket.png
The only real solution is to deposit 110 times the price of the stock and trade whole shares.
Only Cash App allows you to trade fractional shares using market, limit, and stop orders, and with instant availability of funds and instant settlement;
both Webull and Charles Schwab only offer market orders.
The minimum starting balance for my strategy is $12275 and that is where I would like to start; a $1000 unit size.