My Adventure is about to begin

Yes you can daytrade with 5k

Yes I did say 5k.

Good luck and be carefull for a few weeks.

Good luck and be careful--I am sure you know but just a reminder that as a day trader you pay short term capital gains taxes on all earnings --anything held less than a year.

Short-term profits are taxed at your maximum tax rate, just like your salary, up to 35%.

I did it years ago while working as an investment specialist for a large brokerage firm and it can be very addictive--worse than gambling.

Taxes

Take a look at TradersAccounting.com to get help on reducing your taxes as a trader. There is another CPA out of Dallas who also specializes in traders but I haven't spoke to him yet. There are ways to set yourself up to reduce the obligations, taxes and fees.

Spidy

Save up another 5K and play in the WSOP.

Too Risky

Poker is way to Risky

Spidy

Next week should be interesting. Some good buys but still a risky market.

I agree completely

What I have been taught is to trade only one stock. And to take advantage of volatility. My greatest concern is stock being available to short. I short a lot in this market.

Spidy

your timing is impeccable.

I agree, couldn't have picked a better time. Careful and good luck.

Just be careful that you do not trade 4 or more in and outs within a 5 day period. Daytraders are set at a $25000 minimum by the FED and your account will be frozen for 90 days if you make more trades than that. What are you planning on trading with $5K. You could do options or possibly futures, but I would imagine you would be limited to penny stocks.

Rob

You can active trade with 5k

1. Volatility is good not bad this is perfect for active trading.
2. Go to Platinumtraders.net to trade with 5k
3. Trading has changed a lot with Nasdaq Total view and level II.

I know how I have done on real time demo 400. to 500. a day trading AAPL but the proof is in the pudding so I let you know if it works as well live. Stock available to short is my greatest concern.

Spidy

I've got some friends who have made and lost fortunes in day trading. I'm a bond guy not a stock guy, but it's still interesting, keep us posted on how your doing.

That's My Plan

I am a teacher and the start of school has slowed me down. I know I need to be patient and go slow. I'm waiting till my computer time goes back up before starting to trade.



Spidy

My dad made 600% in less than a year short selling, then he lost it all, as well as all his savings, and eventually his marriage. Let me encourage you to be careful, and remember to limit your risk, and diversify, Don't do just one item, too risky.

So far so good

I doing about a 100 to 200 a day. I am in about an hour. I do monitor the market most of the day but once I make my goal. I quit and plan for the next day.

Spidy

New 5k trading co.

http://www.worldwidetradingcapital.com/platforms.asp I just found this and allows you to active trade with 5k. The platforms seem better than the one I am useing and I may move there.
Spidy