Day Trading Requirements - How Much Money Do I Need To Start?



Day Trading Requirements - How Much Money Do I Need To Start? To learn how to setup charts visit http://daytradervideo.com Another one of the most frequently asked questions I'm sent on a daily basis deals with day trading requirements. More specifically how much total money does someone need to start making a go at this day trading. And the answer to this isn't as cut and dry as you might think. So, initially I'm going to tell you that it just depends. But what I'm actually going to take the time to do is tell you exactly what this depends on and how you need to go about and figure out how much you'll individually need to begin day trading. Let me preface the answer to this question by saying that the only types of equities that I have experience trading are stocks and futures/forex. So, what I'm about to talk about below does not apply to options or any of the other tons of different equities you can trade. So, again what are the day trading requirements for stocks? With stocks if you are planning on taking more than four round trip trades per week you're going to need over 25k in your account. That's really the only thing I want to get into regarding stocks. Everything else I'd advise you to seek advice from someone that trades them professionally. Now what are the day trading requirements for futures? To begin with you're going to have to decide if you want to buy a system or you're going to want to build your own. Obviously buying one can range anywhere from a couple hundred dollars to thousands of dollars. This way saves you time but if you build your own it saves you money. So, you're going to have to make the decision between those. Other than system what you'll need are. Day Trading Platform - This is typically leased to you or sold for a onetime fee. Examples of platforms that I've tried are Tradestation and NinjaTrader. I now only use NinjaTrader. Datafeed- Typically provided to you via your broker. Not a bad idea to have a secondary third party one like Kinetick. Broker Fees - These are roundtrip costs based on how many contracts you're trading. They typically start at $4.20- $4.80. Margin - I've seen offers as low as $500 to start an account but with margins at $400 you'll want more to start out with. We'll cover how much you'll need to deposit in the next video.

Comments

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  7. I'm 14 ..better be saving so I can start at 30. ....
  8. Thanks for posting the video.
  9. You dont need this amount to get started you can start with like 500 now going pro.. Or to start you can start onvthe plus500 and start with 20 usd where they pay you tpoints but who has 25k to get started? Whene there comming out of uni etc no one lol
  10. Well I don't agree with the minimum amount - maybe up if you don't know what you are doing, but when I started, I used about 500$ and made around 10-50% (on top if each other) each day which typical got me around 20.000$ payout after tax (and thats including my "bearish" days) now I start each month with about 15-20K ... - but yeah, I'm a risk taker which have awarded me greatly :)
  11. Is this the same as intraday trading?
  12. imagine if you called 911 and the person on the phone told you about themselves and and what they did for a living and what 911 was for while your t being chased by a lunatic with a chain saw
  13. What is a round trip trade?


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