- Sep 25, 2001
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From this thread:
http://forums.anandtech.com/showthread.php?t=2171334
day traders margin = 4x margin
Stock = UPRO (Triple long). It corresponds to triple (300% the daily performance of the S&P 500®.
so $10k cash = 40k daytraders margin = 120k if you buy UPRO.
you're leveraging $10k by a factor of 12!
Now buy UPRO (currently $70/share) after a pattern of it rising for 5 min. Sell when:
1) it's risen 1/2%
2) it falls to within $0.01/share of the price you bought it at. (After UPRO rises $0.02, set a stop loss at $0.01)
Rinse repeat. you can do it on your Lunch hour for some quick $.
note: there will be days where you wont spot a solid rising pattern due to the market being chopy. be patient and wait for it.
I think Wells Fargo offers free trades if you have X amount in the account.
So whats wrong w/my theory?
http://forums.anandtech.com/showthread.php?t=2171334
day traders margin = 4x margin
Stock = UPRO (Triple long). It corresponds to triple (300% the daily performance of the S&P 500®.
so $10k cash = 40k daytraders margin = 120k if you buy UPRO.
you're leveraging $10k by a factor of 12!
Now buy UPRO (currently $70/share) after a pattern of it rising for 5 min. Sell when:
1) it's risen 1/2%
2) it falls to within $0.01/share of the price you bought it at. (After UPRO rises $0.02, set a stop loss at $0.01)
Rinse repeat. you can do it on your Lunch hour for some quick $.
note: there will be days where you wont spot a solid rising pattern due to the market being chopy. be patient and wait for it.
I think Wells Fargo offers free trades if you have X amount in the account.
So whats wrong w/my theory?