I opened my brokerage account with TDA two weeks ago today. I've been trying to get approved for standard margin for options trading since then. It's still not approved, and I've missed 4 great trading opportunities now! So frustrating!
When you open an account, make sure you apply for EVERYTHING. Say that you have 10+ experience and that you want to trade everything, every way. Because if you don't, for whatever reason, they simply won't let you trade.
Why not? If someone doesn't fully understand options, trades them, and loses big, why the hell should the brokerage care? They're not liable for any losses! I understand that the best client for a brokerage is an active and profitable trader, so that means it is in their best interest to keep their clients profitable, erego not letting them trade options without understanding them. But I applied with full honesty when opening my account on my experience in markets and financial situation. Without trying to sound like a know-it-all, I know what I'm doing! I know options backwards and forwards man, come on! LET ME TRADE!!!
Hopefully this gets settled this week, because I'm getting cabin fever sitting around my place doing nothing.
Monday, January 25, 2016
About Brandon
Hello!
I'm Brandon Powers and I trade options. I graduated from THE Ohio State University in 2015 with a Bachelor's in Economics. I have been a student of the markets since 2012, and have been trading options with virtual money since 2013, making big successes and mistakes and learning from both over the course of my college career.
I hope to one day trade options or any other asset class professionally, and as I hunt for jobs in 2016, I'll be trading options with my own hard-earned cash for the first time.
So come have a look over my shoulder and see what it's REALLY like to enter into these fast-moving financial products for the first time! I will outline my process and methods, aiming to educate as I go along. Ideally, those of you who are wanting to get their feet wet but are nervous to jump in will find this blog helpful!
I'm Brandon Powers and I trade options. I graduated from THE Ohio State University in 2015 with a Bachelor's in Economics. I have been a student of the markets since 2012, and have been trading options with virtual money since 2013, making big successes and mistakes and learning from both over the course of my college career.
I hope to one day trade options or any other asset class professionally, and as I hunt for jobs in 2016, I'll be trading options with my own hard-earned cash for the first time.
So come have a look over my shoulder and see what it's REALLY like to enter into these fast-moving financial products for the first time! I will outline my process and methods, aiming to educate as I go along. Ideally, those of you who are wanting to get their feet wet but are nervous to jump in will find this blog helpful!
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