If you're an Apex level member at TD Ameritrade, they settle equity trades in 1 day instead of the usual 3 as a courtesy.
I'm with scottrade also. I have like 5,000 buying power, but half that is in cash. I can do like 3 or 4 trades in one business week. Cash is ok if your swing trading like someone said, but with cash, you cant short stocks, and of course you cant "day trade" unless your JM (no pun intended).
Varies from firm to firm as well as the comfort level of the Class A members. If you trade remotely and they don't know you, you're likely to get less than someone who sits in thier office all day and who's been trading for a while. I can get up to 80X intraday where I'm at, and in any case if you trade remotely, it will be well in excess of standard retail 4:1.
Well it sounded like what the broker was telling me, my punishment was that I would loose my margin. Margin is something I don't use when tradign options so the loss would not be all that horrific. Except if of course I wanted to go back to trading stocks. Then I'd be much more limited. Comp
Not to get off the topic, but sense we were talking about props, I wanted to ask if anyone who has worked at a prop and is, or has been a retail trader, do you feel more "Professional" by working in an office enviroment surrounded by other traders, and does this "Professional" feeling make you more successful? - nathan
Absolutely. I don't think I could trade at home. Some people like to be around other traders. For me, it's really about getting up each morning and going to an office. Having tech people there as well is an added comfort in the event something goes wrong when I'm in a position - I could lose a point while I'm on hold with the clearing firm.