Margin

What type of margin both intraday and overnight is typical for a direct access firm? Do you need a Series 7 for it?

 

"Direct Access" in most cases only means a retail brokerage that has orders routed to ECN's etc. (after routing to the broker itself of course to verify funds).... so standard 2 to one or 4 to one for Pattern Day trader would apply.

With a license, our traders can use a $million or more with the same $25K, and we go about 30 to one overnight (hedged).... most don't get near that much however.

All the best,

Don

 

Thanks Don, I'll be coming your way when I am ready to make my move. Does one need to wait for the three day trading seminar to get started?

 

Nope, just follow these steps, take the next class if you like, we do classes 4 times per year.

www.stocktrading.com/steps.html


Don

 

Don,

Does your firm offer any sort of training in Chicago area?

 

All of our training starts in Las Vegas...however, the traders we have in our Chicago office are excellent, and work with others really well.

Don