I have a new intrday strategy that I want to test out live but I don't feel like locking up 25k in my test account (I want to keep it seperate from my main account for tax purposes). How can I do this ? Suggestions other then Alliance Capital (too expensive). Thanks.
why dont u just open a prop account... some u only have to put down 2-3k and they give u 50-100k buying power. you will only get about 70% of ure profits, but just use it to fine tune ure system and when ure ready just open ure own retail acct with 25k or whatever u want.
I thought about that but I don't want to be forced to overtrade the method too early and prop will expect that of me right.
OK but I tried that in 2000 and 2001 and couldn't get past the 6th round. I made more money in private games and high limit.
try 100 share positions in single stock futures ( ok the universe of stocks might be too small for your methods )
Sounds like the old "I've got this friend......." Maybe you've taken a hit and you're down to 10K and you're trying to figure out what to do. If that's the case, I suggest you stop trading until you get 25K or learn to live with the 3 trades a week for a while.
:eek: Nope, I just want to try this out live and if it's doable with 200 share lots to start it's easily scalable. Seth Thanks but I need to cover too many stocks for sf's
If you're just trying to test a strategy, how can scaling 200 sh lots hurt you tax wise. Do it in your main account, if it works then keep doing it. If it doesn't work, stop. How hard can that be?
It's not just tax reasons, it's also so I don't make trading errors etc, etc, etc... If you can help, just help sheesh