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Strategies & Market Trends : Trading From Main Street.

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To: Brandon who started this subject	6/8/2001 6:25:27 PM
From: Brandon	of 226

One of the most common questions we get is: How much money do I need to start daytrading as a career? Most brokers such as Mavericktrading.com require you to have $10,000 to open a daytrading account. This is however, IMHO, much too low. If you are trading with 10K and assuming you pay the upper end of $14.95 fee each way your total commission costs plus ECN fees will run nearly 1/2% of the value of your account. It is often stated that 90% of daytrader will be out of business in the first 6 months, and I would bet that figure is much higher in the $10K and under crowd. I have always thought that in order to do this for a living a trader should come into the market with $50 to $100K. This allows the trader to have enough money that they can trade enough shares and cover commissions costs, slippage etc. It also puts you in a situation that some unforseen event is going to hurt you less. With $50 to $100K, a trader does not have to overtrade in order to make a living or trade too much size. Brandon

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