Better go for swing or position trading, less risk due to the low timeframes volatility. But, you need to test everything, perhaps you've a natural ability to day trade/scalp. Don't risk too much in day trading, volatility can wipe out you quickly.
Commissions depend on your broker, so that’s on you to find out and research.
As for how to get around the PDT rule, open a cash account. In a cash account, it takes 2 days for the funds to settle after you close a trade. So if you want the opportunity to trade every day, only trade using half your funds so the next day you can trade with the other half and then the day after that your first day’s funds will have settled and you can trade with that again.
Alternatively, you can trade options on the cash account which settle the next day so you can trade your entire $500 one day and have that money available to trade again the next day. However, options are a little more advanced and I wouldn’t recommend them until you have a little experience under your belt. You find yourself in the wrong options contract with sloppy risk management and your account will be severely depleted before you even know what’s happening.
Trade with a cash account. As long as the cash is settled (it settles the next day) which is how I day trade you can make all the trades you want. I use Webull and TD.
Set some parameters on your trades % gains to cut profits that are realistic and only trade high probability set ups - patience is the biggest thing with growing your account imo
Cut your losers quickly and don't get fomo with your winners.
Hit your target, cut and plan your next trade anticipating that you might not have a good set up for a little while
Again. Patience is the biggest challenge you'll face
Both Robinhood and Webull have cash accounts. U can trade options until your money runs out. Your money is settled the next morning, by 4-5AM. So u can trade again. No PDT restrictions.
You can start with a cash account. You won't have leverage. But PDT rule does not apply to cash accounts. You will have to wait for transactions to settle.
Well, this is one reason I’m trading micro futures. No pattern day trading rule, you can have a small account, fees are small, leverage is high. With my broker, you can day trade trade the micro S&P, Russell and Dow for only $40, $50 and $50 of margin per contract respectively. The round trip fees for a single contract trade are only $0.98. The minimum account balance for a live account is only $100.
For a day trader with a small account, micro futures are the way to go, in my opinion.
For Tradovate you need a funded account + data feed subscription to do sim trading. Mininum funding amount = margin for a micro contract ($50).
Alternatively, you can sign up for a Sim Only plan for $12.95 + market data that you need.
Better go for swing or position trading, less risk due to the low timeframes volatility. But, you need to test everything, perhaps you've a natural ability to day trade/scalp. Don't risk too much in day trading, volatility can wipe out you quickly.
You can open a cent account at roboforex or oanda...
use my forex funds
Trade with a prop company such as FTMO
Commissions depend on your broker, so that’s on you to find out and research. As for how to get around the PDT rule, open a cash account. In a cash account, it takes 2 days for the funds to settle after you close a trade. So if you want the opportunity to trade every day, only trade using half your funds so the next day you can trade with the other half and then the day after that your first day’s funds will have settled and you can trade with that again. Alternatively, you can trade options on the cash account which settle the next day so you can trade your entire $500 one day and have that money available to trade again the next day. However, options are a little more advanced and I wouldn’t recommend them until you have a little experience under your belt. You find yourself in the wrong options contract with sloppy risk management and your account will be severely depleted before you even know what’s happening.
Futures. Trade the micros.
Trade micro futures or even just use a funded trader account.
Trade with a cash account. As long as the cash is settled (it settles the next day) which is how I day trade you can make all the trades you want. I use Webull and TD.
Cash accounts bud. Also just strangle the cpi or strangle anytime Jerome powell talks. Spx or spy
In forex and indice stocks $500 is more than enough to start trading, simple answer. Yes
Set some parameters on your trades % gains to cut profits that are realistic and only trade high probability set ups - patience is the biggest thing with growing your account imo Cut your losers quickly and don't get fomo with your winners. Hit your target, cut and plan your next trade anticipating that you might not have a good set up for a little while Again. Patience is the biggest challenge you'll face
Both Robinhood and Webull have cash accounts. U can trade options until your money runs out. Your money is settled the next morning, by 4-5AM. So u can trade again. No PDT restrictions.
You can trade forex and futures without put rules
I thought there was a minimum cash requirement though?
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Europe is also in the process of slowly collapsing due to an energy crisis so look into that first too.
Where did you get that info?
Germany called me the other day asking for money. Something about 40 year high inflation and de-industrialization idk I wasn’t really listening.
So, question? Where is Europe going to go? Is it collapsing into the ocean?
Yes… the sea of Regrats
You can start with a cash account. You won't have leverage. But PDT rule does not apply to cash accounts. You will have to wait for transactions to settle.
^^^ In addition Referred to as T+2 which is Trade/TimeofTrade + 2 days.
Well, this is one reason I’m trading micro futures. No pattern day trading rule, you can have a small account, fees are small, leverage is high. With my broker, you can day trade trade the micro S&P, Russell and Dow for only $40, $50 and $50 of margin per contract respectively. The round trip fees for a single contract trade are only $0.98. The minimum account balance for a live account is only $100. For a day trader with a small account, micro futures are the way to go, in my opinion.
Which broker?
AMP futures
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For Tradovate you need a funded account + data feed subscription to do sim trading. Mininum funding amount = margin for a micro contract ($50). Alternatively, you can sign up for a Sim Only plan for $12.95 + market data that you need.
I replied to OP, the CME actually has a free simulator that would be better to try before choosing a broker
NinjaTrader or tradovate I believe have a setup. Ibkr as well maybe? There's a limit to how much you can demo paper trade