I am not working now due to my health. I'm getting some money now, but not much. Not sure how long it'll last. Plus, PDT issue.
Then it might be better not to trade with real money at all, not even these kind of evaluation accounts. Trading is though enough when life is going well and there aren't any financial worries, let alone when dealing with medical issues and being tight on money. Before you spend any money on this i would suggest you make sure you actually know you can pass, by opening a demo account, following the exact same rules for draw down, max position size, profit, ... and complete the challenge on demo 3 times in a row. Then and only then you might have a real shot at passing these kind of evaluation accounts.
I have no choice. I need to try. I am living with my family. Yes, I have been consistent in paper and live small size for many months. I've traded small size, 1 to 5 shares, for a long time. I am green every day in sim. If I do it I am going to pay extra for no daily drawdown or weekly drawdown. I believe I can reach the profit targets.
Unfortunately those kind of circumstances put such a psychological burden on ones mind that it makes trading 1000 times more stressful and difficult. However i do wish you the best, both health-wise and with your trading results. Keep us updated if you ever decide to try the evaluation account.
Thanks. I focus on process, not profits first. I always have a plan, a stop loss, know how much will lose before I get into a ticker, and have price targets. I think I will try it. I could always cancel after a month or two if I'm not reaching the requirements.
Would I be better putting a few hundred to five hundred into my broker? Trade my own money. I want have leverage though. Will have to deal with PDT and T2.
Not sure what the options are regarding being an US resident and possible workarounds for the PDT rule since i am not an US resident, however in any case a few hundred seems low and gives you very little room in regards to draw down. I would try and go for a few thousand at least. You could possibly go for a cash account, but then you won't have leverage and can only use settled funds.
I can trade with my offshore broker, no PDT. Their fees are 2.95 per trade. If I scale in and out it adds up. They have a 500 minium with 6 to 1 leverage. Monthly platform fee and market data is $175. Fees to wire are around $30 (15 to 20 from wire company, $10 to 20 landing fee from broker). To wire out money from broker is $60.00. I can't short HTB tickers because too expensive to locate and for the cost per share. Locate fee for HTB tickers are $25.00. And cost say .03 or .05 per share. I owe them $150 at the end of June for inactivity fees (15 per month no trading.) It will take me a long time to save a few thousand. Yea, T2 is challenging since I use all my BP per play.
Please give us a try at TradeZero. TradeZero intl is based outside of the US gives 6:1 intraday leverage with a $2500 deposit and you keep all of your profits. you
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