I want to open an margin account with $50,000.00 at one of these brokerages and trade stocks and opt

why not go through a prop firm ( brighttrading, etc...)?
so that you can protect your capital while you trade?

 

• TD Ameritrade has a special offer on new accounts. https://www.tdameritrade.com/specialoffer.page
• 60 days of commission free trading (500 trades maximum).
• Regular commission is $9.99 plus $0.75 per contract for options. (only the 0.75 per contract will be charged)
• Offer expires April 30, 2015.
• You have 2 months to fund account and must execute the free trades within 60 days of funding.
• There is no minimum to open an account, but the minimum is $2,000 to take advantage of the free 500 trade offer.
• Interactive Brokers minimum for new accounts is $10,000.

 

sorry- i cant resist... u want to withdraw 2K a month.. nice.. but sometimes. market will make LARGE unforeseen withdrawals from your ACCOUNT which will throw a spanner in your PLAN...

 

$2,000 per month can easily be withdrawn, plan ahead and keep the risk at a manageable level. But the only way he can achieve his goals is through options - not stocks.

• Starting balance of $50,000 and $2,000 per month withdrawn for one year.

1. $50,000.00
2. $48,000.00
3. $46,000.00
4. $44,000.00
5. $42,000.00
6. $40,000.00
7. $38,000.00
8. $36,000.00
9. $34,000.00
10. $32,000.00
11. $30,000.00
12. $28,000.00
13. $26,000.00

 

I'll try to keep losses to a minimum. Thanks for your ideas and advice.

 

I understand. It's a chance I have to take.

 

I like them, they are in the top 10.

 

I would like to but right now I will stick with online brokers.

 

You have no choice but to go with an online broker. Bright Trading Risk Disclosure


"The firm does not solicit nor accept retail orders from Retail Customers. All Bright Traders must have successfully completed the Series 7 General Securities Representative qualification examination......................"

 

THANKS for this link

i would say- their DISCLOSURE is a nice reminder or advice for anyone getting into trading

the best LINE is-
"In attempting to profit through Trading, you must compete with other professional, licensed traders "
- this is akin to a battle of the brains to suck up the LAST Cent available of your competitors.( and VICE VERSA).
This is ONE BIG CASINO...- WALL street.

=========================

The firm does not solicit nor accept retail orders from Retail Customers.

All Bright Traders must have successfully completed the Series 7 General Securities Representative qualification examination.

Traders that join Bright Trading become Class B members of the company, and are not customers of Bright Trading. Traders and their capital contributions and accumulated profits are at a risk for loss and any loss is not provided with coverage through the Securities Investor Protection Corporation (SIPC).

Trading can be extremely risky.

Trading generally is not appropriate for someone of limited resources and limited investment or Trading experience and low risk tolerance. You should be prepared to lose all of the funds that you use for Trading. In particular, you should not fund -Trading activities with retirement savings, student loans, second mortgages, emergency funds, funds set aside for purposes such as education or home ownership, or funds required to meet your living expenses

Be cautious of claims of large profits from Trading. You should be wary of advertisements or other statements that emphasize the potential for large profits in Trading. Trading can also lead to large and immediate financial losses.

Trading requires knowledge of securities markets. Trading requires in-depth knowledge of the securities markets and Trading techniques and strategies. In attempting to profit through Trading, you must compete with other professional, licensed traders employed by securities firms. You should have appropriate experience before engaging in Trading.

Trading requires knowledge of a firm’s operations. You should be familiar with a securities firm’s business practices, including the operation of the firm’s order execution systems and procedures.

Under certain market conditions, you may find it difficult or impossible to liquidate a position quickly at a reasonable price. This can occur, for example, when the market for a stock suddenly drops, or if Trading is halted due to recent news events or unusual Trading activity. The more volatile a stock is, the greater the likelihood that problems may be encountered in executing a transaction. In addition to normal market risks, you may experience losses due to systems failures.

Trading may result in your paying large commissions. Trading may require you to trade your account aggressively, and you may pay commissions on each trade. The total daily commissions that you pay on your trades may add to your losses or significantly reduce your earnings.

Trading on margin or short selling may result in losses beyond your initial investment. When you trade with funds borrowed from a firm or someone else, you can lose more than the funds you originally placed at risk. A decline in the value of the securities that are purchased may require you to provide additional funds to the firm to avoid the forced sale of those securities or other securities in your account. Short selling as part of your -Trading strategy also may lead to extraordinary losses, because you may have to purchase a stock at a very high price in order to cover a short position.