Greetings and thanks for reading! I'll start with my question and then give you background for the question so you can avoid me babbling on.
The question is simple,
First off, not a knock on CMEG, we all have to make money and I'm very thankful they are available.
The Story: My son (29) and I (57) took the day trading plunge together back in the beginning of March. My son's financial situation is much better than mine so he has no PDT limitation, I on the other hand do. In the last eight weeks, things have been going fairly well, learning and gradually getting better, we have both been using TOS. This weekend I will be getting the DAS Simulator. My plan is to use the SIM the majority of the time for the next three months and use TOS 3 times a week to fulfill my adrenaline rush needs. During this time I will continue to add money to my account. By the end of the three months I will have in the neighborhood of 3,000 to open an account at CMEG.
My son's argument, (he basis this on my success trade rate which is around 60% (at the moment))
Take it slow, save the money on commissions and slowly build up your account overtime, so says the kid with no PDT rules.
My arguments are:
Having only 3 trades available a week adds way more stress to my trading, I want them all to be successful.
Commissions are a part of the learning curve/price.
The more actual trades I have under my belt, minus the commission, the more money I will potentially gain and ability to build my account, plus experience.
Thanks for you time and I appreciate any and all responses!
Andrew