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On Wed, 7 Nov 2001 11:10:58 -0800, you wrote:
>>I was just informed by my broker that I am fortunate enough to meet the SECs rewuirements as a "Day Trader". I have been essentially swing trading a small account because, well, I dont have enough cash to open a big account. I tend to get out of my losers very quickly and hold on to my winners for 2 or more days. I thought thats what trading was, cut your losses, let your winners run. For example I had 2 longs and 1 short going into yesterdays rate cut. My short (INTU) was stopped out for a $1.30 loser but one of my longs (WEBX) made me $3.50 and another (EBAY) is currently up about $2. This of course makes me a day trader although i held WEBX for 3 days and have had EBAY for 2 and counting. The reason is that about 5 times a week a trade goes bad and I have to get out in the same day. My plan is working very well, I am up about 5 points this week already and make at least a little money almost every week. But because I do not have $25000 the SEC has forced my broker to shut down my
>>account for a week. I am currently averaging a return of about 10 -13%....per month. I think I know the answer to this but outside of finding a loan shark.........is there anything I can do about this?
>>
>>By the way......I am allowed to trade futures and/or options. I think I am about 2 for 20 on options trades over the years and accept the fact that, at this point, I just dont have enough knowledge to make money with them. Or I could trade the E MIni S&P, with its margin of 10:1...that is obviously much less risky than doing 50 to 100 share lots of a stock with a proven method (sarcasm).
>>
>>Any help would be appreciated...or maybe I just needed to vent a little....looks like I am shut down after making 10% most months. I am now going to look for my man Huggy Bear to see if I can get one of those 88% (per month) easy payment loans.
divide your account into two, use one for 5 trades then let it rest
and use the other account
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