#1 Trade with settled funds only. This way you don’t have to worry about GFV and day trade violations. Margin accounts and pattern day trade restrictions were made to keep retail traders poor. It’s a psychological game, and trust me, trading with those potential restrictions in mind affects one’s decision making when trading- or refraining from selling a bad trade due to a violation. Over 3 day trades using a margin account within 5 trading days, and you’re considered a pattern day trader. Pattern Day Trader’s must maintain $25,000 in their trading account. Converting your margin account into a cash account removes the pattern day trader restrictions worries, granted you’re trading with settled funds
#2 You see 5-8% profit. Take it and run. Move on to the next trade.
This is how you win
That’s it. That’s the tweet. Discipline will get you far in trading. Take small wins, properly manage risk. Compound profits. And don’t forget to withdraw profits-daily. It’s real money that you can spend and use for real life, don’t just store it on an app.
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