If you are predominantly a day trader, how do your profits not get eaten away by transaction costs? What minimum roll are you starting with to avoid account erosion? 5k? 10k? What broker best facilitates day traders?
what's so special about a day? Why is 24 hours better than 36 hours? Might have something to do with the Traders Union. We fought hard to get an 8 hour day and weekends off (and we actually would have gone on strike if copper was not rallying at the time.)
Boy oh boy, you don't start Sunday afternoons till Fridays' close? Actually waiting for Nat Gas to really take off. Going back to original post, are you speaking of futures, stocks, forex or options? If your doing retail for futures, there are couple of good brokers like Deep Discount that many like, or you can lease a seat thru almost all of them and use them for clearing. Not really clear on erosion meaning. If you are scalping, simple-don't lose too often
yeah, I think the term "day trading" took off in the late 90's when a lot of kids started trading tech stocks. It use to mean something when you were trading futures and the margin requirement kicked in if you were not flat by the close. We use to do this deal where you would start every morning spread, and day trade all day long, and get spread by the close. A little guy like me with only $5000 in his account could day trade the S&P as long as you were spread against the NYFE by the close.
I can't remember what we charged retail clients, I think it was quite high, but if you had a series 3, you could hold an S&P vs a NYFE at 1:1 overnight for only $500. And they really didn't care what you did all day, there were no computers back then, as long as you were spread on the open and spread on the close.