StockFetcher Forums · General Discussion · NEVER LOSE AGAIN!!<< 1 ... 25 26 27 28 29 ... 102 >>Post Follow-up
CKING
17 posts
msg #68943
Ignore CKING
11/2/2008 8:25:47 PM

TRO, your advices and filters are great! I loved them, as I am learning to paper trade thro Optionsxpress, I found that buy and sell on the same day requires $25k which is too big a deposit for me. Is there any way I could get round this? Thanks again.

FuriousThug
256 posts
msg #68946
Ignore FuriousThug
11/2/2008 9:16:50 PM

Nope. The SEC classifies you as a pattern day trader if you make 4 or more intraday trades in a 5-day period...which means the 25k minimum.

TheRumpledOne
6,358 posts
msg #68950
Ignore TheRumpledOne
11/3/2008 7:02:02 AM

"RFR'ers are very high I was looking at YTBLA and woundered what you thought about it? "

What do you mean "RFR'ers are very high"?

YTBLA what's there to think about? Use the RFR Filter Display to give you the stats.



TheRumpledOne
6,358 posts
msg #68951
Ignore TheRumpledOne
11/3/2008 7:09:10 AM

CKING
11/2/2008 8:25:47 PM

TRO, your advices and filters are great! I loved them, as I am learning to paper trade thro Optionsxpress, I found that buy and sell on the same day requires $25k which is too big a deposit for me. Is there any way I could get round this? Thanks again.

==========================================

Actually, the PDT rule only applies to MARGIN ACCOUNTS. You have to read carefully.

If you have a cash account, it can take up to 3 days to settle the funds. So you can be "locked out" for 3 days.

What you can do is use 1/3 of your funds on Mon, Tues and Weds. Then on Thur the Mon funds should be settled.



TheRumpledOne
6,358 posts
msg #68954
Ignore TheRumpledOne
11/3/2008 9:40:57 AM

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TheRumpledOne
6,358 posts
msg #68975
Ignore TheRumpledOne
11/3/2008 9:55:00 PM

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TheRumpledOne
6,358 posts
msg #68976
Ignore TheRumpledOne
modified
11/3/2008 9:57:06 PM

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To paraphrase COOL HAND LUKE:

"Sometimes NOTHING is a pretty cool thing to do."

Gap up ( runaway gap ) ... No fade, no trade!

Eman93
4,575 posts
msg #68977
Ignore Eman93
11/4/2008 2:08:48 AM

TRO,

Auto Trade?




FuriousThug
256 posts
msg #68978
Ignore FuriousThug
11/4/2008 6:25:37 AM

TheRumpledOne
- Ignore TheRumpledOne 11/3/2008 7:09:10 AM
==========================================

Actually, the PDT rule only applies to MARGIN ACCOUNTS. You have to read carefully.

If you have a cash account, it can take up to 3 days to settle the funds. So you can be "locked out" for 3 days.

What you can do is use 1/3 of your funds on Mon, Tues and Weds. Then on Thur the Mon funds should be settled.
____________________________________________

This is correct. Additionally, if you day trade options via a cash account like TRO mentions, I'm pretty sure settlement is only ONE day in most cases.

TheRumpledOne
6,358 posts
msg #68979
Ignore TheRumpledOne
11/4/2008 6:35:32 AM

Auto Trade? What are you asking?

Yes, it is possible to auto trade but I do NOT recommend it unless you can think like a computer.



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