Replies to post #2758 on ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[stingray113]

I understand where you're coming from with most of what you say. The one thing I would say though is the day-trading rule really isn't an issue if you treat it like a cash account. You're allowed 3 "free" day trades in a 5 day period. The only reason why cash accounts aren't subject to this rule is because settlement date restrictions preclude day trading to begin with.

I think you would find the "restrictions" in a margin account much more tolerable than settlement dates. The only caveat is if you're trading with less than $2,000 and aren't eligible for margin.

[T-R1]

Hey Eric,
We all had to start somewhere. I've been in your shoes and I know how frustrating it can be having a decent % gain but $-wise not that much. Just take your time and don't rush because rushing will lead to mistakes. I didn't build by entire account with trades; I add all my bonuses/savings into it.

Anyway, you are right about the $25,000 number. I think if it's below 25, you can only make like 5-6 trades per day (I'm with TDA). If you have cash somewhere else, you can transfer it to your trading account just to get over the $25K limit and keep it there... you don't have to use it all for trading. I almost always have at least 50% cash just in case.

Good job on the board by the way. We have some good folks here and very little spam.