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Direxion Daily Financial Bear 3X ETF Message Board

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  • guywhoisfunny guywhoisfunny Mar 19, 2009 8:47 PM Flag

    Brokers?..Need Help...

    maybe I have some leads on daytrading brokerage. u can message me on my yahoo id

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    • SEC regulations would not permit them. What I do is look at my trading execution history for last 7 days incl current day and make sure u dont exceed 3 DT's incl any new trade planned that day. I do this because once I already got a pattern DT warning on scottrade. Now I dont trade on Scott, but trade on sogo for cheap commissions. I still do not daytrade so it kinda sucks and I feel for you. It sucks that they (SEC) changed the limit from 3000 to 25K,

      Now, You can also spread your money in multiple brokerages to have margin accounts with more than 1 broker. However the legality of this is questionable, I have nt tried this ever. but theoretically you can do 3 DT's in each brokerage u have within any rolling 5 days without triggering the pattern day trade 25K condition.

      Sogotrade, MB trading, Zecco are all decent places to have margin accounts, imho. Tradestation advertises well but it is good only for a 25K plus daytrader, but even there MB would probably beat it hands down based on reviews i saw and other factors I evaluated into.
      Good luck.

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