Hello, I am rather new to trading, so If I am asking stupid questions please forgive me. I was wonder what were the best trading systems to use for an account of $1500? I'm looking, not to trade as a day trader, but as an End-of-day trader. Is it possible to make any money doing this? Thank you in advanced for your responses! Dan
that amount is very small. maybe with 5K you could swing trade. you need atleast 25K to be a pattern day trader.
Wow, did you forget a zero or something. Park that pocket change in an index fund bro cause commissions will eat you alive and futures will drain your account fast.
I think I would trade a mini or micro account with forex and try to build it up before moving on to equities. You may decide to stay with forex. In any case, it will be more of learning experience than any "real" money venture but at least you may be making some money as you learn.
Will you eventually be able to fund your account with more money? If that's not the case, I expect the low absolute (dollar) value of your profits will hardly justify the time you have to commit to develop and maintain your trading system.
I dont think you can even get margin with 1500, can you?. I started out with 2000 back in 06.. I could only afford like 5 shares of apple stock... the time and % gains I would need to make were just crazy, so I added over 10k, and even with that, its hard to really make a nice monthly income because even though you have a method, trading size is still a problem.
Word of advice: Do not trade stock with 100,000 or less in daily volume or "penny stocks". You will need HIGHLY LIQUID stock with little spread.....Try trading only the qqqq or qid. When I started out I did some OTCBB and got burned really fast!
i have contacts that allow you to trade w/ a minimum but w/ leverage buying power up to 4x intraday and 2x overnight. Not hte most technial system but fast as hell!!!
I suggest you start swing trading index ETFs, like SPY, DIA and QQQQ. After all, to successfully trade individual stocks, you need to know where the market is going. Optionsxpress has a neat virtual trading, practice for a few months befores betting real money. Think or swim, charges less for small stock orders than optionsxpress.