Daytrading with 10K (How)?

Discussion in 'Professional Trading' started by Samson77, Nov 23, 2005.

  1. 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).

  2. bonds


    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.
  3. 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.
  4. why don't you buy a seat into the 2006 WSOP main event.

    You too could become a millionaire!
  5. :confused:

    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.

  6. try 100 share positions in single stock futures

    ( ok the universe of stocks might be too small for
    your methods )

  7. 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.
  8. :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.


    Thanks but I need to cover too many stocks for sf's
  9. If you're just trying to test a strategy, how can scaling 200 sh lots hurt you tax wise. :confused: Do it in your main account, if it works then keep doing it. If it doesn't work, stop. How hard can that be?
  10. 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 :)
    #10     Nov 23, 2005