I just signed up with a new broker because mine literally reduced my leverage to 3:1 based on my calculations. They have failed to respond to my emails to their support group all week so f... them. Anyhoo, going to to use my industry experience to apply for pro status at my new broker. Hopefully they won't be an A55 about it. Great to see you supporting the retail side.Hello mate, I posted on another thread, you may have noticed I like to cut to the chase rather than the endless flannel, so just wanted to post it here if ok. I'm stating the obvious to many, but jeez louise, people love to clutter an easy solution.
I know you are in full time work so day trading isn't really an option right now, but I do like your no bulls1t approach, this may work for you in the near future, post as follows :
This can be done very simply, if for example you want to trade £1 per point on the dax, you need approx £600'ish in the account for every pound.
If you have intra-day movements of approx 500-700 points & you are a point & click merchant then there's more than enough potential on the table.
Stick a few grand in, if you can't afford to stick a few grand in the account to play small stakes then this is not the game to be in.
Just to add, the game has changed for small investors/speculators wanting to trade multiple positions, this new ruling will ensure less exposure, less open positions but if you intra day trade & choose a high volume/volatility instrument you simply need to ensure the position doesn't get closed out due to a margin call.....i.e £1 per point requires approx £650'ish minimum deposit, therefore a few grand acts as the buffer, because the the margin call on the minimum deposit will automatically close you out at 50%....£325'ish @ £1pp (if you let positions run that wide on a normal day with that sort of enormous stop
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