anyone getting more than 4 to 1 margin?

I am currently using Scottrade. They allow 4 to 1 margin with min. 25k cash. I have heard of some guys on here saying they were getting 10 to 1 margin.

I hope the firms are reputable though. I guess that is my only concern with using a no-name company to trade and be worried they could close up shop and I lose my money in the account.

Anyone have any experiences about this?

 

margin is never an issue, your W/L ratio and max DD is the key to fast money.

 

10-1 margin...you have to be on crack to do that

 

why? Don't got 4, Don't got 10! what's the difference?

If you go broke....lol..

 

Perhaps they were referring to futures margin.

 

All patern day traders get 4:1, but I have never gone over 3:1 . I know with 10:1 I could easily lose all my money in a single day.

 

The margin you're hearing of is through prop firms, where it can be astronomically high compared to retail (but usually restricted to intraday only, unless you develop a relationship with them over time).

Prop firms really do offer enormous benefits if you know how to use them to your advantage, though they have their downsides as well (the sleaze factor can sometimes be higher than normal).

 

You can get 30-1 intraday leverage by getting your series 7 and becoming a client of a prop trading firm. Not all of these firms are sleazy. EchoTrade (now part of Merrill Lynch) is one of the highly reputable prop firms:

http://www.elitetrader.com/br/?action=view&R_FirmID=109