No, Forex trading is like Futures. No need to worry about the pattern day trader reg. Max leverage is 50x in US now.
On Sat, Dec 11, 2010 at 11:58 AM, ShaggsTheStud <[email protected]>wrote: > I believe it does not, but I am not sure. > > Also, my understanding is that you want to have a fairly large account to > trade forex, as it is best to trade positions of $100,000 - (but brokers > will often give you 100x+ leverage, but that gets more risky). > > My numbers are probably off - I don't trade forex. > > > On Fri, Dec 10, 2010 at 11:40 PM, David <[email protected]> wrote: > >> Great thanks! >> by the way - does Forex fall under the category of "Pattern Day >> Trader" or considered to be like futures? >> >> >> On Dec 11, 3:40 am, ShaggsTheStud <[email protected]> wrote: >> > Yes, just $10k. >> > >> > the $25k is the minimum required amount by the SEC for people who exibit >> the >> > behavior of a "Pattern Day Trader" (google that), of stocks or options >> (but >> > not futures, I believe, which is the main instrument traded by people >> using >> > JBT). >> > >> > If you are forward testing, you are not trading at all, so the SEC >> doesn't >> > care about you. >> > >> > >> > >> > >> > >> > >> > >> > On Fri, Dec 10, 2010 at 12:37 PM, David <[email protected]> wrote: >> > > Hi, >> > > I'm quite new here, I hope I ask the right questions.. >> > >> > > I followed couple message of those who already trade JBT + IB. >> > >> > > Are those people consider to be "day trader" and funded their account >> > > with 25K $ ?(http://www.interactivebrokers.com/en/p.php? >> > > f=margin&p=dt&ib_entity=llc) >> > >> > > My main goal as for now is only using the forward test functionality >> > > and record data to use for back tests - in that case I need to fund >> > > only 10K ? (http://www.interactivebrokers.com/en/p.php? >> > > f=minimumDeposits) >> > >> > > I know maybe I should ask IB but I got the feeling they are not so >> > > responsive and maybe you guys already at that point... >> > >> > > Thanks! >> > >> > > -- >> > > You received this message because you are subscribed to the Google >> Groups >> > > "JBookTrader" group. >> > > To post to this group, send email to [email protected]. >> > > To unsubscribe from this group, send email to >> > > [email protected]<jbooktrader%[email protected]> >> <jbooktrader%2bunsubscr...@googlegr oups.com> >> > > . >> > > For more options, visit this group at >> > >http://groups.google.com/group/jbooktrader?hl=en. >> >> -- >> You received this message because you are subscribed to the Google Groups >> "JBookTrader" group. >> To post to this group, send email to [email protected]. >> To unsubscribe from this group, send email to >> [email protected]<jbooktrader%[email protected]> >> . >> For more options, visit this group at >> http://groups.google.com/group/jbooktrader?hl=en. >> >> > -- > You received this message because you are subscribed to the Google Groups > "JBookTrader" group. > To post to this group, send email to [email protected]. > To unsubscribe from this group, send email to > [email protected]<jbooktrader%[email protected]> > . > For more options, visit this group at > http://groups.google.com/group/jbooktrader?hl=en. > -- You received this message because you are subscribed to the Google Groups "JBookTrader" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/jbooktrader?hl=en.
