hi savant. so you can purchase US equities through retail forex? I would like to learn more about that, do you have some good links? i've always been under the impression you needs vast capital to do currency trades, something I don't have
thanks series7, yeah apparently their in jamaica. I tried to search for offshore brokers but couldn't come up with the right google phrases I guess.
Looks good but http://www.mbtrading.com/requirements.asp Pattern daytrading accounts require a $25,000 minimum balance. Pattern daytrading status is assigned to margin accounts which execute more than three (3) equity or options daytrades within five (5) consecutive business days.
Just trade the currency pair themselves, trade money and forget equities...look at Oanda and open an account for any amount and get free live charts... dirtybrown you will be entering a red hot retail field where you can get the marvelous ranges that a trader needs in the secondary market of currency trading. It is very important to choose the correct dealer in which I have only found Oanda to be one that I can recommend. Some here recommend IB (a sponsor here), but you will need more money for them. You will find that currencies are controlled by various factors such as politicis, imports and exports, economies of scale...ETC. where you will find equities more micro-managed and will be at the whims of a CEO or industry news...etc that can effect your position (s). Be prepared to lose in the beginning, but each restart you will get better...and maybe you will end up in the very small group that can survive...and yes even make consistent profits in the highly leveraged world of Retail Spot Forex Trading. There is not one trader that I know of that trades anything and has never lost! Some of the most successful traders have blown up and had to restart two or three times in their life. Good Trading to you Michael B.