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I am considering rolling over an old 401K into an Ira with Midland so that I can trade it in a tax shelter. I should probably call them and just ask them myself, but does anyone do this?
My main concern is fees, I am a interday scalper and dont hold any positions overnight, or even more than a minute or 2 for that matter, and only take about 1-3 trades a day depending on how the days price action is going. I trading using Ninjatrader. Ideally I would like to just add the IRA account in ninjatrader and add it to the list of follower accounts I am copying across and grow the IRA over time in the background.
Is this possible? Realistic? The fees are just regular fees (few dollars round trip?) I scalp for only a few points in the ES so if each transaction in the IRA account costs like $50 (for example) round trip per contract then it would make this whole Idea useless.
Does anyone do this? If so can you share any details?
THANKS!
Can you help answer these questions from other members on NexusFi?
I have a Roth with TDAmeritrade that I trade options and futures in. I have not tried trading it with a copier. I will try and report back. I also use Ninja and chart stocks with it.
With your Roth, at TD do they offer intraday margin? I'm at TastyTrade and they don't (though it may be not possible in a Roth?). So even with the minimum $25k that's required for futures in a Roth, it limits one to 1, maybe 2, futures contracts, depending upon the instrument. ES is about $13k margin. Micro's are of course do-able as an alternative.
You can transfer or open your Roth at Midland and then have a trading account at any broker that Midland works with ( I know Amp and Ironbeam do) and then it's treated just like any other account with margin and fees.
