StockFetcher Forums · General Discussion · Pattern Day Trader<< >>Post Follow-up
lizzydog
32 posts
msg #58160
Ignore lizzydog
12/14/2007 10:03:00 PM

Are you a PDT if you buy and sell a particular security on mon.-tues.,wed.,
and thursday, and skip friday. Can you do the same thing next week?

Thanks,
lizzydog

TheRumpledOne
6,358 posts
msg #58162
Ignore TheRumpledOne
modified
12/15/2007 12:03:12 AM

pattern day trader
Definition

An SEC designation applying to any individual who buys and sells a particular security in the same trading day at least four times in a five-day period, and for whom same-day trades make up at least 6% of the trader's activity during that period. Pattern day traders are subject to special rules.

Pattern day trader
Main article: pattern day trader
In addition, NASD and SEC further restrict the entry by means of "pattern day trader" amendments. Pattern day trader is a term defined by the SEC to describe any trader who buys and sells a particular security in the same trading day (day trades), and does this four or more times in any five consecutive business day period. A pattern day trader is subject to special rules. The main rule being that in order to engage in pattern day trading the trader must maintain an equity balance of at least $25,000 in a margin account.[8]


nikoschopen
2,824 posts
msg #58164
Ignore nikoschopen
modified
12/15/2007 2:12:47 AM

In another word, life sucks for you little fellows!

stocktrader
293 posts
msg #58171
Ignore stocktrader
12/15/2007 9:51:29 AM

You are "not" a PDT if you buy and sell any stock one time the same day on Tues, Wed and Fri.
Repeat these same days every week. If there is a 4-day trading week for market closure you must skip the next trade day in your weekly routine.

luc1grunt
622 posts
msg #58181
Ignore luc1grunt
12/15/2007 7:54:54 PM

Antonio Banderas in 13th Warrior: I cannot carry this.

Viking: Then grow stronger.



shelupinin
120 posts
msg #58182
Ignore shelupinin
12/15/2007 8:09:29 PM

lizzydog, forget about PDT. Just open an account at prop broker, they don't care about PDT at all, you can day-trade with $5k having 1:10 leverage

shelupinin
120 posts
msg #58184
Ignore shelupinin
12/15/2007 9:54:21 PM

if you need brokers that don't care about PDT than read this:

http://elitetrader.com/vb/forumdisplay.php?s=&forumid=15

StockFetcher Forums · General Discussion · Pattern Day Trader<< >>Post Follow-up

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