1).
Carefully schedule and plan for the full-time demo training. The program works best if you fully commit to day trading from 8am-5pm, Monday through Friday.
BUT, you can learn PART-TIME, my entire intra-day trading methodology during the 20-day program (4-weeks)
When scheduling, I suggest that you budget time to re-read ALL of Section 1&2 (of this manual) at least twice before our first phone conference.
You should receive the manual at least one week priot to start-date.
2).
In order to properly apply my trading methodology and style, I use the LIGHTSPEED demo platform, with my own custom layout.
LIGHTSPEED combines real-time charting and Level II quoting with virtual fast-key live order execution. This demo software is exactly the same as if the money were real. This is why I use it for training. You the trainee also benefit because I have customized the presets for the fast-key fully operational.
If you already have another pay-per-share broker (or pay-per-trade broker), then you may find that their fast-key order execution capabilities are inferior to the LIGHTSPEED trading platform. You can determine this after using LIGHTSPEEDs demo for 20-days.
My program is based on trading through a Direct Market Access (D.M.A.) provider with a pay-per-share commission structure. As I mentioned above, if you like you can use another pay-per-share direct-market-access provider. However, you CANNOT use a traditional pay-per-trade broker. The commission structure will destroy your profit margins. To refresh yourself on this issue, refer in this manual to Lesson 14, Online Brokers: Pay-per-share. Or refer in my published book to Chapter 17, Picking the Right Online Broker.
3.
The main thing that scares amateur traders from registering with pay-per-share brokers is the minimum starting balance of 25K.
The S.E.C. imposes this requirement. When you are intra-day trading stocks, and you are placing more than four round-trip trades in any five day rolling period, then you are considered a pattern day trader. In that case you must fund your account with no less than 25K, and your balance can not fall below it. If it does, then you get hit with an equity call, which means you can not trade on margin or pattern day trade until you deposit enough funds to return your balance to 25k.
Obviously the prerequisite for LIVE trading is your acceptance of this bylaw, and your financial ability to comply.
YOU DO NOT NEED TO OPEN A LIVE ACCOUNT WHILE DEMO TRADING.
