get around the day trader tag? What other trading houses (if any) allow more than 4 in and out trades in last 5 rolling days? Any? Is this an SEC rule?
What other options other than holding positions over night?
you must have at least 30K and it cannot go below that amount (penalty of 90-day non-trade) so technically, you have to have at least 35K to be able to trade as much as you want in any given day
I have 50K in my TDAmeritrade and was stunned when I woke up this morning with a gain of $3K+ after I bought at 17.30 yesterday
Yes that rule sucks but you can open an account at a different brokerage if you want and you will be able to start fresh after 90 days at the brokerage who tagged you a pattern day trader. I have switshed several times before I got well above 25k. So you know you are still allowed to trade but not on margin so you cant short stocks. But you couls of covered and bought and probaly been above 25k again if you are that close. You need to learn about options also. Happy trading!!!
Interesting about switching. I figured it wouldn't matter since it's a SEC rule.
Anyway I do need to learn more about options, but that's what the devil told me when I learned about Craps. Could swear the person who taught me grew horns before he disappeared into the casino.