You can try broker outside USA, and negotiate lower commissions. Have a look at http://www.questrade.com/pricing/margin_stock.aspx I donât know if this particular broker is any good, it is just a suggestion how to get around the PDT limitation. Remember if you choose to go this route with a broker outside US that there could be some hidden risks involved .
Future and Forex market is a true zero-sum game and most likely you will be fighting with very sophisticated algorithm trader (automated trading platforms). Please correct me if I'm wrong. Also what are my chances of success if I'm using a web based platform for future trading? Cheers,
I have been earning a very healthy living trading futures, almost exclusively, for over 5 years. I guess I have been on the right side of the "Zero sum" more than 50% of the time. Why do you need to use a "Web" based platform? surdo
I understand the complication - but may be we can use some automation to trigger both orders with millisecond precision. This should be pretty reliable in pre-hours trading.
Neither in futures or forex you'll be fighting any automated systems, you'll be fighting only yourself. There are opportunities to make money in both markets. Yourchances of success in trading will depend on "YOU" and not the market or the platform you trade from. All the best
I'm not a full-time trader so I'm at work everyday 9-6. Not sure if any trading clients will connect through the company proxy (i tried openecry but no luck).
If you had 2 lots of SRS in A1 then your commission overhead is 50% as you will settle everything in 1 lot. Similarly if you had 3 lots of SRS in A1, your commission overhead is only 33%. I'm also not happy about this double commission, but what are my options? MohdSalleh has already made this cruel comment. Anyway, here is my point.
Let me get it right; you are at work everyday 9-6, and you worry about pattern day trading??? I'm an optimist by nature, but I seriously doubt you will ever become successful daytrader under such circumstances. Be honest with yourself. Your options are to either position trade, or leave your job and organize your life in such a way so you can focus on trading.
I'm sick of those highly paid IDIOTS who sit on the executive committee and make such rules/decisions that has no reality check. This PDT rule was probably a valid protection for small accounts when the cheapest discount broker was offering $30 round-trip trasnaction. It does not make any sense in current market where we can get an ultra-low transaction fee (0.004 per share) with many retail discount brokers. My 0.2 cents