nikoschopen
2,824 posts
msg #52130
- Ignore nikoschopen |
6/11/2007 1:09:11 AM
The SEC (the US securities and exchange commission) imposed a restriction on the day trading of US stocks and stock markets. This restriction effectively prevents what the SEC calls "pattern day trading", which SEC defines as 4 or more day trades (a day trade being any trade that is opened and closed within the same trading day) within 5 trading days. This means that even one trade per day would classify the trader as a pattern day trader, and the restrictions would then apply, unless the trader maintains at least $25,000 in their coffer.
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