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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: M CAHILL who wrote (1655)	7/8/1999 2:24:00 AM
From: -	Read Replies (1) \| Respond to of 18137

<re: day-trading in your IRA account> No problem with day trading in an IRA from a phone/web brokerage, at least with Schwab it works. No margin, no options (except covered calls), no shorting. No wierd margin calculations as you describe, I suspect that's your broker (who is it, if you please?). Direct Access brokers (at least those clearing through Southwest) not on to servicing pent-up IRA demand yet, for various reasons. Others here, more expert on this topic can elaborate. -Steve

To: M CAHILL who wrote (1655)	7/8/1999 10:59:00 AM
From: TheKelster	Respond to of 18137

IRA Daytrading I daytrade extensively inside an IRA (50K +) at Datek. I think no margin is a blessing for beginners. In fact anyone thinking of beginning to daytrade would bestow a gift upon himself/herself if they just did not margin enable their account - say for at least the 1st year. This can be the salvation of your daytrading career early on. Datek gives you instant updates on your tradable balance and will not accept an order that exceeds your available funds. Their computer automatically rejects it if you miscalculate. The same goes for accidental shorting. You cannot over sell. Happy trading KK