(Topic ID: 175889)

Stock Market Traders?

By kpg

3 years ago

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  • 293 Pinsiders participating
  • Latest reply 8 hours ago by pinnyheadhead
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    #465 2 years ago

    So if I want to start trading stock, will I need a minimum of $25k?

    I see that some sites have a $0 minimum, but then I read articles that say I need at least 25k in my account to start trading stock.

    Is this true even if I want to just do small trades every so often? Can I not start with $1,000 and just buy and sell $1 stocks (as an example)?

    #470 2 years ago
    Quoted from captainadam_21:

    25k minimum? That is not right. Most sites are like $500 minimum.

    For day trading, everything I have read says 25k minimum. So that may be out for me. I was hoping to day trade stocks and start with around $1,000. So is this just not possible?

    Quoted from barakandl:

    Sign up for something like AllyBank. They have low minimums, cheap, so you can play around.

    I went to AllyBank, and this is straight from their webiste:

    Day-Trading Disclosure

    ALLY INVEST SECURITIES LLC (“Ally Invest”) DOES NOT PROMOTE DAY-TRADING. If a customer engages in day trading, the following rules apply.


    Customers are considered as engaging in Pattern Day Trading if they execute four or more stock or options day-trades within a five-day period in a margin account.

    Minimum Account Equity

    If you are designated as a Pattern Day Trading customer, you must maintain at least $25,000 in account equity in order to maintain day-trading privileges.

    If a call to bring the account equity to the minimum amount is issued for your account and the call is not met promptly.

    The account will be restricted to cash until the account equity is brought back to the minimum requirement or at least $25,000.
    You will not be allowed to day-trade in your account.
    You will not be allowed to open and close positions on the same business day. All opening transactions must be held until at least the following business day to avoid further restriction.
    Within these restrictions, you may still trade on margin (if you maintain at least $2,000 in account equity) and utilize buying power.

    #477 2 years ago
    Quoted from scarybeard:

    Don't day trade. You seriously have better odds at a blackjack table. (and it will be more fun to loose money while getting free drinks)
    I recommend the podcast 'Invest Talk' with Steve Peasley. Listen to that show for 6 months before doing any trading. You will learn a TON.
    I use TD Ameritrade. no minimum as far as I can tell. Fees are low, and the tools are super powerful. Great phone app as well.

    Thanks for the recommendation, I'll check it out!

    2 years later
    #1935 3 months ago
    Quoted from Concretehardt:

    gold, guns and pinball

    should be a bumper sticker or a t shirt

    1 week later
    #2671 3 months ago

    Are we headed back up now??

    #2682 3 months ago

    Will we see Boeing go under 150 again?

    #2710 3 months ago
    Quoted from BMore-Pinball:

    give it another weekend of 48 hours of nonstop virus news and lets see with the market does on Monday

    I hope you are right. Like others have mentioned, I too have been waiting on the right time to dump a bunch of money in and feel like I missed my chance.

    #2733 3 months ago
    Quoted from usandthem:

    Is anyone who didn't dive back in head first 3 days ago a fool?

    That's the way I am feeling right now!

    #2746 3 months ago
    Quoted from Happy81724:

    Went all in on sqqq at close...we will see!

    Nice! I admire your balls, sir.

    And I hope you're right.

    #2821 3 months ago

    What was all that "not going to be bullish into the weekend" talk?

    So far, I've blown it today.

    #2823 3 months ago

    Went short on NVDA this morning at $249.

    #2943 3 months ago

    I suck at this. How is EVERYTHING up right now? Thought we would see another plunge today.

    #3014 3 months ago
    Quoted from DBLM:

    Different strokes for different folks. Technicals and historicals suggest that we will have a retracement back down before we put in a floor. That is what I am hoping and counting on.

    Hope you're right, but my entire watchlist is green right now.

    #3024 3 months ago
    Quoted from DBLM:

    I think that we go down from here for a little bit and that folks like me that are looking for a lower place to buy in can.

    We're in the same boat, brother! I am waiting on the sidelines cash in hand, just give me the signal!

    #3094 3 months ago
    Quoted from Concretehardt:

    STKS approaching $1.00

    I'm thinking about it.

    #3096 3 months ago

    Anyone else waiting to jump in on Boeing (BA)? Feels like the timing is almost right.

    #3098 3 months ago
    Quoted from DBLM:

    Just curious, why? They have no immediate prospects and for the last 5 years have traded mostly between 2 and a half and 4 bucks. Unless you are going to buy 50-100K of this stock and day trade it this seems like a dog.

    I'm more just keeping an eye on it. I added some of the restaurants that were suggested in this thread to my watchlist, STKS being one of them. Just looks like it will get back to 1.50 to me at some point. 50% return isn't too bad. But you're right, you would have to buy a shit load of it for it to be worthwhile.

    #3104 3 months ago

    I'm thinking of picking up 1k shares of AAL. Anyone want to talk me out of it?

    #3109 3 months ago
    Quoted from cottonm4:

    Without researching them and in my best Wall Street speak. I like MasterCard. And Visa. People are not going put their credit cards away. And there is the possibility they might even use them more.
    Raytheon has a nice chart pattern and is involved with government in defense and drug interdiction. The Prez has amped up the drug interdiction efforts and the military has pretty much given a free hand in how the militaries work to shut down the cocaine out of Columbia and Venezuela.
    I know nothing about DG's stock, but where DG locates its stores it seems to me it will be insulated from the fallout.

    Hey cottonm4 just curious, any reason you left out American Express? Looks like it's behavior was a bit different today than mastercard and visa that you mentioned, so I'm curious your thoughts on it.

    #3112 3 months ago

    Well damn guys my watchlist can't get much longer haha! JK I love all the recommendations, keep em coming.

    #3115 3 months ago
    Quoted from mcluvin:

    They are more inclined to believe it's just the flu or media hype/fake news

    I don't really get this part.

    #3226 3 months ago

    Shorted NVDA at 269.5

    #3258 3 months ago
    Quoted from Concretehardt:

    Well shoot, I bought a little TZA today but had a Dr appointment so I set a trailing stop loss and got bounced out of it while I was at my appointment [quoted image][quoted image]

    Yeah that hurts but hey you came out ahead. Could have been worse.

    #3260 3 months ago

    I saw that too, what the heck? Went from a green day to red real fast.

    More red tomorrow?

    #3298 3 months ago
    Quoted from kpg:

    Closed out all my positions - took a small loss on them, but albeit very small due to my entries yesterday when Dow was at its highs but playing it safe.

    Dang! Making me nervous kpg! I still hope you were right when you placed those positions and we see a big drop soon. But I’m not so confident after today.

    #3442 85 days ago

    I know it’s still early but volume seems crazy low today, no?

    1 week later
    #3673 78 days ago
    Quoted from WaddleJrJr:

    I was lazy and didn't do this yet. Very glad I waited.
    Just woke up and missed all the chaos, is there somewhere I can go on TDAmeritrade to just buy straight up oil contracts? The last time I asked this the only tip I got was oil stocks, and when I browsed around I couldn't seem to find straight up oil contracts on there.
    Thanks in advance for any help

    If you're not already, since you have a TDAmeritrade account, download and use Thinkorswim.

    #3778 75 days ago
    Quoted from iceman44:

    Bottom line, “follow the fed”

    And where is the fed taking us?

    #3792 74 days ago
    Quoted from Concretehardt:

    as they will be out of ammunition to stop it.

    Will they though? I really don't know.

    1 week later
    #3929 64 days ago
    Quoted from loneacer:

    That was pretty sneaky what he did a few weeks back, selling just enough of his airline shares to drop under 10% ownership so he didn't have to disclose future sales. Then he sold it all.

    What's that old phrase? Don't hate the player, hate the game.

    1 week later
    #4025 57 days ago

    What's on everyone's watch list this week??

    3 weeks later
    #4266 33 days ago
    Quoted from scooter8416:

    Any more suggestions on stocks considered still "in the ditch" to watch?

    I was coming here to ask the same thing!

    What is left that is still "in the ditch"?

    #4298 30 days ago

    MAC looks like it's been on a downward trend since forever. But Ice hasn't been wrong yet...

    #4324 27 days ago

    Thinking of jumping back into Boeing (BA) if it goes below 200. Thoughts?

    #4343 26 days ago

    I didn't want to feel left out of the MAC party. So I just jumped in at 9.63.

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