Day Trading Requirements - How much money do I need to start?
If you have ever wondered what the requirements were to start trading then you have come to the right place. We wanted to do this video since many people were asking us exactly about the day trading requirements and how much money do I need to start.
The first thing that you need to think about is a strategy to trade with. The important to understand here is that you can learn on your own. You don't need to pay $10,000 for education you can learn 100% on your own. The only thing to understand is that there is a lot of information online that isn't reliable.
So it will take you more time to go through the information and decide what is the good and information and what isn't.
Strategies can cost anywhere from a $5 book or a $10,000 personal one on one training program. Keep in mind that this is one of the key day trading requirements.
After your strategy we need to find a good trading platform. This also depends on the markets that a trader will be operating in. While there are some free trading platforms one thing to understand is that there isn't anything in life that is free. Many times a free trading platform will include higher commissions and fees for withdrawing money, among others.
The key to finding a good platform is make sure that you can pay for a lifetime license instead of paying monthly. There are still a lot of trading platforms that want to charge monthly fees which isn't necessary.
Continuing with our day trading requirements and how much money do I need to start trading.... a reliable internet connection will be key. Internet does not need to be high speed, the minimum required is 1 MB dowbload and .50 upload. A speedtest can be done at http://speakeasy.net
One may also look for a 4g mobile broadband connection.
The next thing to consider is going to be a computer. A laptop would be recommended. A top notch $5,000 computer is not necessary. Most laptops and even computers have enough advanced tech and will be more than sufficient to start your endeavor trading. A $500 refurbished computer is more than enough. Standard processing power, HD space, and a 17inch is sufficient.
When thinking about the day trading requirements and How much money do I need to start these are the most important things to consider.
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It would be good to have a video addressing a realistic scenario of someone deciding to day trade full time. You have your startup costs to actually trade, but how much runway should you have for living expenses, possible bankroll for downtrends/bad days/weeks etc. How do you determine the ratio of allocating your earnings (increase your trading bankroll vs cash out for expenses/savings).
Obviously trading full time is not realistic for everyone, but the more prepared someone is the better their chances of making it a viable income source.
Take what you need and leave the rest. All of us take information and use it to try and get better at trading but you get negative people. Most of it really sounds like jealousy. He is talking about his strategy. He is sharing his ideas. I say thanks for sharing and taking time to do so.
Cheers for this, I've been looking for "trading business plan template" for a while now, and I think this has helped. You ever tried - Fiyayla Tradify Planner - (should be on google have a look ) ? Ive heard some amazing things about it and my cousin got excellent success with it.
Wow! That’s ripping people off TD has TOS reading charts and it’s a deposit of $50 and you can use other brokers for unlimited DT like ustock or suretrader but don’t pay monthly for someone else’s charts
Help please: I don't understand the part about buying or leasing a 'platform' like Ninja Trader. Why wouldn't one just use a site like E*Trade, Fidelity, TD Ameritrade, Merrill Edge, etc?? Don't all of those 'websites' basically provide you with a platform to execute all your trades? Am I missing something? Thank you!
ninjatrader is professional not like what you've said if you don't know anything about it search about superdom of ninjatrader you will understand what is the difference betwin professional platform and a eating money machine :-D
bob dole many people state that you don't need that much to start, however it will be very hard. I'm confident I can start with that. For now I am still studying the market, HFT, algorithms, etc. I will be using what I learned like risk analysis, forecasting, etc in order to succeed. Thanks for a response doe and take care
luis looey well to day trade Reg stocks in and out you will need 25k minimum or be issued pdt fairly quickly
7k would serve you better in some ETF’s or just save and paper-trade till you are proficient over many months
bob dole thanks dude. I'm very new to this about to gwt my MBA this December 15 and my mind is thinking entrepreneur. I have 7k and I'm looking to spend it in day trading. I noticed I'm very good at forecasting so I believe I can use it toward my advantage . thanks
a futures contract is a standardized forward contract, to buy or sell something at a predetermined price at a specified time in the future, example are the Emini futures most often used for day trading and speculation. 1 tic = $12.50 4 tics equal 50 on the emini. LOT of practice and understanding before diving into this you should have acquired first though i must warn you.
Excellent video, exactly what I was looking for. Thank you. Can you recommend a good brokerage acct to get started trading? Also, you recommended ninjatrader as a platform but I have a Mac and it seems ninja trader is not supported on a Mac. Do you have a runner-up platform suggestion?
Day Trading Academy how do you trade Futures with only $1,000. I thought margin requirements for futures were higher? If not, where can I sign up to trade futures with a $1,000 account balance. Let me know so I can check it out
How does one go about trading outside of "opening hours"?
Would I need several platforms, one for the states, one for china, one for london etc have them all connected to the same cash account and then trade around the opening and closing of each time zone?
I just don't get how only being able to access stocks and trading for 6 hours but then not knowing what is happening to them for the next 18 hours, allowing them to be subject to other counties fluctuations, and then coming back the next trading days open at drastically different prices than where they left off at at "yesterdays" closing, is remotely safe.
lmao this guy the majority of his money from the idiots that pay him to "learn" to daytrade... the market is simply a place to buy stock or sell it nothing more or less... there are no trends you cant predict when hedge funds will sell all their shares and plummit prices for that day!!
Many thanks, I've been looking for "intraday trading basics pdf" for a while now, and I think this has helped. You ever tried - Fiyayla Tradify Planner - (do a search on google ) ? Ive heard some super things about it and my friend got great success with it.
Excuse me, Your name is Marcello right? and at the end of the video you said "Ciao". Now i am italian, so are you italian also?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Can you give some advice on starting to trade stock markets ? Prop firms, nice platforms to practice (Unfortunately ninjatrader does not support trading stocks), and what to do when you do not have 25k to start. Thank you !
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