How much money do I need to put up? 1 Month, 2 Weeks ago
Karma: 0
Guys, I am new here, I was wondering how much money do I need to put up in your point of view in order to start effectively trading in the PSE and in the US Market. Thanks.
Re:How much money do I need to put up? 1 Month, 2 Weeks ago
Karma: 1
hi Harold,
what batch are u?
i think the minimum amount asked by brokers to open an account should be enough ..Php30k-Php50k - u can add more of course as long as u can afford to say adios to it heheh.
what US broker do u plan to use? TDAmeritrade is the online US broker of choice around here. minimum to open a regular account is $2,000 i believe. for a margin acct (to short) u'll need to show that you have an annual income of $100k with a bank certificate that proves it. the prescribed amount to trade in the US to minimize the percentage of trading expenses is $10,000.
NEVER GO FULL-RETARD!!! ** If you want to increase your success rate, double your failure rate.--Thomas John Watson, Sr. (1874-1956), IBM ** Its the time you put in after 9 to 5 MON-FRI that ultimately makes the difference--William ONeil
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Re:How much money do I need to put up? 1 Month, 2 Weeks ago
Karma: 0
jonf1tch,
I am Batch 7 Cebu
..adios to it? OMG, Is the local maket that hopeless?
So aside from your bank wire deposit and signature/identification documents you need pa to prove to TDAmeritrade that you have a $100K bank deposit before you could start trading? If that is the case then trading in the US right now might be just a dream for me.
Re:How much money do I need to put up? 1 Month, 2 Weeks ago
Karma: 1
lapulapu wrote:
QUOTE: jonf1tch,
I am Batch 7 Cebu :side:
i'm batch 40 Makati
QUOTE: ..adios to it? OMG, Is the local maket that hopeless? :S
unfortunately heheh.
QUOTE: So aside from your bank wire deposit and signature/identification documents you need pa to prove to TDAmeritrade that you have a $100K bank deposit before you could start trading? :side: If that is the case then trading in the US right now might be just a dream for me.:S
the $100k bank deposit is for a margin account so u can short stocks coz the primary trend is down. u can open an account for only $2,000 (and w/out the $100k proof of annual income) to go long but u'll be trading against the trend.
NEVER GO FULL-RETARD!!! ** If you want to increase your success rate, double your failure rate.--Thomas John Watson, Sr. (1874-1956), IBM ** Its the time you put in after 9 to 5 MON-FRI that ultimately makes the difference--William ONeil
The administrator has disabled public write access.
Re:How much money do I need to put up? 1 Month ago
Karma: 3
I think it's not about how much is the minimum amount the broker is asking you to deposit but how much do you need to put in, in order for you to implement proper money management strategies. I would suggest at least $5k. if you're account is too small, you'll just end up losing it because you'll risk more to earn more.
