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At this writing, DAET utilizing SOES is normally restricted to trading a maximum of 1000 shares per trade. Even though the SOES maximum size limit is 1000 shares, you are still permitted to trade less than 1000 shares if you wish to do so. Since 1000 shares has proved to be the most optimally sized order, availability of margin capital should be based on a 1000-share SOES order trading size. Yes, you can trade more than 1000 shares at a time on ECNs. |
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Early in my DAET career I trained many DAET traders. Most started with a minimum capital base of $25,000 to $50,000. |
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A rocky beginning has become a more common occurrence over the past year or two. The added competition and sophistication of all players in general is creating a tougher environment for the novice. Training and simulated trading help keep the difficulties to a minimum for those students who heed the advice and lessons taught, but it is not unusual for the beginner to experience some losses at the outset. There is no teacher like a good old-fashioned experience, and no matter how hard I try to instill all the lessons of successful DAET, nothing ultimately works as well as a good loss in driving home the realities of disciplined trading. |
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Therefore, one should almost expect to have losses on the outset of trading. This is not a universal result but one unfortunately all too common. I call early losses "tuition" in that they are part of your training costs; and as long as the losses are small and tolerable, they should prove no problem in the long run for your DAET career. |
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Sometimes I think it's good for the new DAET trader to experience some losses early on rather than winning big right from the start. An early winner often gets a little too cocky and overconfidentthis can spell disaster in the long run. A successful DAET trader is always a little scared of what the market can do and trades a little cautiously. Always maintain a |
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