How much is enough to start trading?

Discussion in 'Trading' started by hermit_trader, Nov 30, 2002.

  1. qdz

    qdz

    I use 2k-5k. I was about to make my living till the PDT rule came in. Remember this financial industry is as crock as any casinos which invite profitable customers to leave by every mean.

    :p
     
    #11     Dec 1, 2002
  2. qdz

    qdz

    I should add that casinos and brokers invites the customers who are CONSISTENTLY profitable to leave.
     
    #12     Dec 1, 2002
  3. qdz

    qdz

    I should revise the brokers to bigger special interest groups who have many regulators and organizations as their representatives.
     
    #13     Dec 1, 2002
  4. lescor

    lescor

    Seriously, how on earth could you expect to earn a living trading this amount of money in stocks on 2 to 1 margin? Even if you were good and didn't have any losing streaks, the size of your positions would be so small that the winners wouldn't make enough to live off of.


     
    #14     Dec 1, 2002
  5. If you trade for a prop firm that'll give you 10+ to 1 leverage then that's enough money to trade and make enough to live on. If you trade retail, in this enviroment, it's not enough, cause 2 to 1 just won't get you the return you need.
     
    #15     Dec 1, 2002
  6. prox

    prox

    When you start, the smaller the better. No more than 5k in my opinion.
     
    #16     Dec 1, 2002
  7. acrary

    acrary

    I know I could start daytrading 1 ES with $1,500 and grow it.
    It's not enough to live on, but it is enough to succeed over time.
     
    #17     Dec 1, 2002
  8. Magna

    Magna Administrator

    Not at IB you couldn't. Besides their minimum account requirement of $2,000 you would also bump into their intraday initial margin requirement to open 1 ES contract which currently stands at $1,781. And, perchance, if you wanted to hold that 1 contract overnight the initial requirement is $3,563. So I'm not sure how you could "start daytrading 1 ES with $1,500" when you'd be hard-pressed to find a brokerage that would allow you to open an account with that little, or meet the minimum margin requirement. And even if you could, I suppose you're assuming you won't have any losing trades in the beginning....

    Let's get realistic here folks, or we're gonna have another one of those Turn $5,000 into $1million threads.
     
    #18     Dec 1, 2002
  9. DblArrow

    DblArrow

    But Ken Roberts told me I could do it with $600!:D :p

    Make 'em pretty, Chris
     
    #19     Dec 1, 2002
  10. acrary

    acrary

    Maybe not at IB. But at RB&H I could (daytrade emini initial margin is $800). That would leave $700 or about 12 pts. + comm. for trading. I'm sure I could make a profit with 12 pts. for the max. drawdown on 1 emini doing daytrading. Couldn't hold overnite, but then again I would only daytrade if I was starting out again.
     
    #20     Dec 1, 2002